Subordinated Capital definition

Subordinated Capital means subordinated loans (according to their terms) or other instruments issued by the Issuer in the form of hybrid or subordinated capital but not constituting Fund Units which are non-callable and contain rights to defer interest payments in a stressed scenario until and including the Final Maturity Date;

Subordinated Capital means any loan or credit which is fully subordinated to the Bond Issue.

Subordinated Capital means any loan granted or to be granted, with terms (including aggregate amount) and final structure acceptable to the Bond Trustee (acting in its sole discretion), inter alia to ensure that (i) such loan is fully subordinated to the Secured Obligations, and (ii) any repayment of principal, or payment of interest under any such loan, may only be made subject to all present and future obligations and liabilities under the Secured Obligations having been discharged in full.

Examples of Subordinated Capital in a sentence

• Any redemption of Tier 2 Notes prior to their Maturity Date (other than redemption for regulatory capital reasons as contemplated in Condition 11.5 (Redemption of Subordinated Capital Notes for Regulatory Capital reasons)), requires the prior written approval of the Relevant Authority.

• Unless otherwise specified in the Securities of a series, notice of redemption shall be given in the manner provided in Section 1.06 not later than 30 days and not earlier than 60 days (or, in the case of partial redemptions, 45 days) prior to the Redemption Date, to each Holder of Securities to be redeemed and, with respect to the Perpetual Subordinated Capital Securities, the Subordinated Trustee, the Calculation Agent and any Paying Agent of such series.

• In such event, the Perpetual Subordinated Capital Securities of such series will remain Outstanding and will continue to accrue and pay interest in accordance with their terms, and such postponement of the Redemption Date will not constitute a Capital Security Default.

• Unless otherwise provided in the Board Resolution or supplemental indenture pursuant to Section 3.01 hereof establishing the terms of a series of Perpetual Subordinated Capital Securities, Deferred Interest shall not itself bear interest and will be payable only pursuant to the Alternative Coupon Satisfaction Mechanism provided for in the Board Resolution or supplemental indenture pursuant to Section 3.01 hereof, or in such other circumstances and in such manner as is set forth therein.

• The Subordinated Notes (that is, the Supplementary Capital Subordinated Notes, the Subordinated Capital Subordinated Notes, or the Short Term Subordinated Capital Subordinated Notes, as specified in the applicable Final Terms) and the Coupons and Receipts relating thereto (if any) constitute unsecured and, in accordance with paragraph (ii) below, subordinated obligations of the Issuer and rank pari passu without any preference among themselves.

More Definitions of Subordinated Capital

Subordinated Capital means any loan or credit which is fully subordinated to the Bonds. “Subsidiary” means a company over which another company has Decisive Influence.

Subordinated Capital means the sum of (i) Equity, (ii) any Subordinated Loans and (iii) the Bonds.

Subordinated Capital means the sum of (i) the aggregate amount which in accordance with applicable accounting standards would be shown in the Issuer's Annual Financial Statements as the equity of the Group and (ii) any Subordinated Loans.

Subordinated Capital means any loan or credited which is fully subordinated to the Bonds.

Subordinated Capital means any loan or credit granted or to be granted to the Issuer, with terms acceptable to the Bond Trustee (acting in its sole discretion), to ensure that (i) such loan is fully subordinated to the Bonds, and (ii) any repayment of, or payment of interest under, any such loan is subject to all present and future obligations and liabilities under the Finance Documents having been discharged in full, provided in each case any payment under Subordinated Capital is permitted to the extent qualifying as a permitted Distribution under Clause 13.5 (Distributions).

Subordinated Capital means the sum of all shares allocated by the Issuer under the Equity Issue and all Subordinated Loans granted to the Issuer within 31 March 2016 which shall be equal the NOK equivalent to USD 15 million. When calculating the NOK amounts the calculation shall be based on the Exchange Rate.

Subordinated Capital means (i) amounts which in accordance with applicable accounting standards would be shown in the Issuer’s Financial Statements as the shareholders’ equity of the Issuer and (ii) any Subordinated Loans.