Tax Deductibility Event definition

Tax Deductibility Event means the receipt by the Issuer of an opinion of counsel in Sweden (experienced in such matters) to the effect that, as a result of a Tax Law Change, any interest payments under the Capital Securities were, but are no longer, tax-deductible by the Issuer for Swedish tax purposes to the same extent as any unsubordinated obligations of the Issuer;

Tax Deductibility Event means the receipt by the Issuer of an opinion of counsel in Sweden (experienced in such matters) to the effect that, as a result of a Tax Law Change, the Issuer is no longer able to claim a deduction to which it was entitled as at the Issue Date or at any time thereafter in respect of payments relating to the Capital Securities in computing its taxation liabilities for Swedish tax purposes (a "Tax Deduction") or the amount of any Tax Deduction is materially reduced and, in either case, in circumstances where unsubordinated debt obligations of the Issuer continue to be fully or partly tax deductible for such purposes;

Tax Deductibility Event means a situation whereby:

Examples of Tax Deductibility Event in a sentence

• If a Tax Deductibility Event or a Withholding Tax Event has occurred and is continuing, then the Issuer may, having given not fewer than 10 nor more than 60 days’ notice to the Trustee, the Registrar, the Principal Paying Agent and, in accordance with Condition 19, the Holders (which notice shall be irrevocable) and subject to Condition 9, redeem all, but not some only, of the Securities at any time at 100 per cent.

• Tax Deductibility Event occurs if there is a change in the applicable tax treatment of the Notes as a result of which the Issuer would not be entitled to claim a deduction in respect of distributions paid on the Notes in computing its taxation liabilities, or such deductibility is materially reduced.

• The Borrower may, upon the occurrence of a Rating Capital Event, a Tax Deductibility Event or a Withholding Tax Event, at any time, without the consent of the relevant Lenders, either: (i) substitute the Loans (in full) for; or(ii) vary the terms of the Loans with the effect that the Loans remain or become, as the case may be, a Qualifying Loan.

• If, immediately prior to the giving of the notice referred to below, a Tax Deductibility Event or a Withholding Tax Event has occurred and is continuing, then the Issuer may, having given not less than 30 nor more than 45 days’ notice to the Trustee, the Principal Paying Agent and, in accordance with Condition 18, the Holders (which notice shall be irrevocable) and subject to Condition 9, redeem all, but not some only, of the Securities at any time at 100 per cent.

• The Issuer shall notify the Principal Paying Agent and the Trustee at least 30 but not more than 60 Business Days’ prior to the exchange or variation of the Securities in accordance with Condition 7 (Exchange or Variation upon a Withholding Tax Event, Tax Deductibility Event, Rating Methodology Event or Accounting Event and Preconditions to such Exchange or Variation), specifying the date fixed for such exchange or variation.

More Definitions of Tax Deductibility Event

Tax Deductibility Event means the part of the interest payable by the Issuer under the Notes that is tax-deductible by the Issuer for Italian tax purposes is reduced as a result of any change in, or amendment to the laws, regulations or rulings or applicable accounting standards of the Republic of Italy, or any political subdivision or any authority or agency thereof or therein having power to tax, or any change in the application or official interpretation or administration of such laws, regulations or rulings or applicable accounting standards:

Tax Deductibility Event means that as a result of:

Tax Deductibility Event means that interest payable by Asahi Life on the Bonds is not, or will not be, deductible by Asahi Life, in whole or in part, for Japanese tax purposes (or, in the case of a successor person, such other jurisdiction of the successor person, as applicable), as a result of

Tax Deductibility Event means the occurrence of a more than insubstantial increase in the risk that Distributions payable by the Issuer on the Securities are not, or will no longer be, deductible by the Issuer, in whole or in part, for Korean (or, in the case of a successor person, such other jurisdiction of the successor person, as applicable) tax purposes, as a result of

Tax Deductibility Event means the receipt by the Bank of an opinion of a nationally recognized law firm or other tax advisers, as appropriate, in the Relevant Jurisdiction in which an Eligible Borrower under a Subordinated Deposit is located and experienced in such matters, to the effect that, as a result of: (1) any amendment to, or other change (including any change that has been adopted, but which has not yet taken effect) in, the laws or treaties (or any regulations promulgated thereunder) of such Relevant Jurisdiction or any political subdivision or taxing authority thereof or therein affecting taxation, which amendment or other change is effective, or which prospective change is announced, on or after the date of making of such Subordinated Deposit, or (2) a change in the official interpretation of the laws or treaties (or any regulations promulgated thereunder) of such Relevant Jurisdiction or any political subdivision or taxing authority thereof or therein affecting taxation, or (3) any judicial decision, official administrative pronouncement, published or private ruling, regulatory procedure, notice or announcement (including any notice or announcement of intent to adopt such procedures or regulations) (for purposes of this definition, an “Administrative Action”); or (4) any clarification of, or change in the official position or the interpretation or pronouncement of such Administrative Action or any interpretation or pronouncement that provides for a position with respect to such Administrative Action that differs from the hitherto generally accepted position, in each case, by any legislative body, court, governmental, administrative or regulatory authority or body, irrespective of the manner in which such clarification or change is made known, which Administrative Action, clarification or change is effective, or which notice or announcement is made, on or after the making of such Subordinated Deposit, there is more than an insubstantial risk that such an Eligible Borrower will be subject to more than a de minimis additional amount of national income taxes due to a change or modification of the deductibility of the interest payments on such Subordinated Deposit, provided, however, that none of the foregoing events shall constitute a Tax Deductibility Event if such event or events may be avoided by the related Eligible Borrower, the Trust or the LLC taking reasonable measures which (x) do not require the Eligible Borrower, the LLC or the Trust to incur material out-of-p...

Tax Deductibility Event means at any time the receipt by the Issuer of an opinion of counsel in the Relevant Jurisdiction (experienced in such matters) to the effect that, as a result of a Tax Law Change, the Issuer is not able to claim a deduction in respect of payments relating to the Notes in computing its taxation liabilities for the Relevant Jurisdiction tax purposes (a "Tax Deduction") or the amount of any Tax Deduction that the Issuer would previously have been able to claim is materially reduced;

Tax Deductibility Event means that interest payable by Fukoku Life on the Bonds is not, or will not be, deductible by Fukoku Life, in whole or in part, for Japanese tax purposes (or, in the case of a successor person, such other jurisdiction of the successor person, as applicable), as a result of (i) any change (including any officially announced proposed changes) in, or amendment to, the laws or regulations (or rulings promulgated thereunder) of Japan (or, in the case of a successor person, such other jurisdiction of the successor person, as applicable) or any political subdivision or any authority thereof or therein having power to tax, that becomes effective on or after 22 July 2015, or (ii) any administrative decision, judicial decision, administrative action or other official pronouncement interpreting or applying such laws, regulations or rulings that is announced on or after 22 July 2015, and, in each case, such non- deductibility cannot be avoided by Fukoku Life taking reasonable measures (such measures not involving any material additional payments by, or expense for, Fukoku Life) available to it.