Substitution Assets definition

Substitution Assets means any valeur de remplacement of the Lender, within the meaning, and complying with the provisions, of Articles L.515- 17 and R.515-7 of the FMFC, and which is not a Permitted Investment.2 Permitted Investments means any valeur de remplacement of the Lender, within the meaning, and complying with the provisions, of Articles L.515-17 and R.515-7 of the FMFC. Substitution Assets will be valued using the same methodology as the specific controller of the Lender, which is denominated in Euro and falls into one of the following categories:(a) deposits denominated in Euro made with a credit institution whose registered office is located in a member state either of the European Economic Area or of the Organisation for Economic Co-operation and Development ("OECD"), with the exception of investment firms, having a rating no lower than A+ (long term) (or A (long term), but in that case, together with A-1 (short term)) by S&P and P-1 (short term) by Moody's, and which may be repaid or withdrawn at any moment at the request of the Issuer in order to make sums available within twenty-four (24) hours at the latest, having a remaining maturity date of thirty (30) days or less and mature at least one (1) Business Day prior to the next Payment Date;(b) French treasury bonds (bons du Trésor) having a remaining maturity date of thirty (30) days or less and mature at least one (1) Business Day prior to the next Payment Date and having a rating no lower than A+ (long term) (or A (long term), but in that case, together with A-1 (short term)) by S&P and P-1 (short term) by Moody's;(c) debt instruments referred to in paragraph 2 of Article D. 214-94 of the Financial Code and denominated in Euro, provided that:(i) they are traded on a regulated market located in a country that is party to the agreement on the European Economic Area, with the exception of securities giving access directly or indirectly to the share capital of a company;(ii) they have a fixed principal amount at maturity;(iii) they are not interest-only strips;(iv) they are not purchased at a premium over par;(v) they are not issued by mutual funds or any securitisation special purpose vehicle; and(vi) they have a remaining maturity date of thirty (30) days or less and mature at least one (1) Business Day prior to the next Payment Date and having a rating no lower than A+ (long term) (or A (long term), but in that case, together with A-1 (short term)) by S&P and P-1 (short term) by Moody's;(d) negotiable debt in...

Substitution Assets means cover assets that contribute to the coverage requirements, other than primary assets;

Substitution Assets means the classes of assets denominated in euro from time to time eligible under the CRR and/or the Wft to collateralise covered bonds including (on the date of this Agreement) and subject to certain limitations:

Examples of Substitution Assets in a sentence

• Pursuant to the terms of the Deed of Charge, the LLP has purported to grant fixed charges over, amongst other things, its interests in the English Loans and their Related Security, the Substitution Assets and its rights and benefits in the LLP Accounts and all Authorised Investments purchased from time to time.The law in England and Wales relating to the characterisation of fixed charges is unsettled.

• Any such liquidity needs must be covered by the Issuer with eligible Legal Substitution Assets or with assets that are eligible as collateral to the credit transactions (opérations de crédit) of the Banque de France in accordance with the monetary policy and intra-day credit operations rules of the Eurosystem.

• If Substitution Assets are transferred to the CBC, the CBC will appoint a custodian to provide custody services in relation to such Substitution Assets.

• Alternatively, the Covered Bond Guarantor may purchase Substitution Assets or request drawings under the Demand Loan Agreement in order to ensure that the Covered Bond Guarantor is in compliance with the Asset Coverage Test.

• Pursuant to the terms of the Deed of Charge, the LLP has purported to grant fixed charges over, amongst other things, its interests in the English Loans and their Related Security, the Substitution Assets and its rights and benefits in the LLP Accounts and all Authorised Investments purchased from time to time.

More Definitions of Substitution Assets

Substitution Assets means each of:

Substitution Assets means any valeur de remplacement of the Lender, within the meaning, and complying with the provisions, of Articles L.515-17 and R.515-7 of the FMFC, and which is not a Permitted Investment.

Substitution Assets means assets contributing to the coverage requirements, other than the primary assets;

Substitution Assets means the classes of assets denominated in euro

Substitution Assets means any Substitute Shares, Cash Offer Amount and Offered Property, as applicable.

Substitution Assets means assets in the cover pool that contribute to the coverage requirements (i.e. the extent of overcollateralization), other than the primary assets.

Substitution Assets means the Substitute Shares, the Cash Offer Amount and the Offered Property.