Substitution Assets definition

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

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Substitution Assets means the classes of assets denominated in euro from time to time eligible under Article 129(1)(a)-(g) (but excluding (d)) of the CRR and the CB Regulations to collateralise covered bonds, provided that the aggregate value of such eligible assets, at any time, shall not exceed in aggregate an amount equal to 20 per cent., or such other percentage as required from time to time to comply with the CB Regulations, of the aggregate nominal value of the Transferred Assets at such time.

Substitution Assets means each of:

Examples of Substitution Assets in a sentence

• If the Transferred Assets include Substitution Assets and the proceeds of such Substitution Assets are paid to the CBC, then the CBC shall direct or pay such proceeds to the Issuer.

• 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.

• The Covered Bond Guarantor will be entitled to apply principal collections it receives in respect of the Mortgage Loans together with the principal proceeds of the sale of any Substitution Assets it holds in order to repay earlier maturing Series of Covered Bonds, which may mean that there may be fewer assets available to support later maturing Series of Covered Bonds.

• For the purposes of calculating ''VC'' and ''N'' in respect of the Fitch Credit Support Amount, the portion of the Transaction(s) relating to Variable Rate Loans, the GIC Account and Substitution Assets will be disregarded for all purposes.

• If the Transferred Assets include Substitution Assets and the proceeds of such Substitution Assets are paid to the CBC, then the CBC shall direct or pay such proceeds to the Transferor.

More Definitions of Substitution Assets

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 assets contributing to the coverage requirements, other than the primary assets;

Substitution Assets means the classes of assets denominated in euro from

Substitution Assets means the classes of assets from time to time eligible under the Capital Requirements Directive to collateralise covered bonds including:

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

Substitution Assets means the cover assets that contribute to the coverage requirements in relation to covered bonds other than Primary Assets, under the Covered Bonds Framework, provided that they comply with the relevant requirements foreseen in article 129 of the CRR.

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