Tier 1 Securities definition

Tier 1 Securities means any obligation of the Guarantor or, as the case may be, a Subsidiary or other entity which is treated, or is capable of being treated, as Tier 1 Capital of the Guarantor;

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Tier 1 Securities. ’ means any obligation of HBOS or, as the case may be, a Subsidiary or other entity which is, or is capable of being, treated as Tier 1 Capital of HBOS on a consolidated basis;

Tier 1 Securities means respectively any obligations of the Company or, as the case may be, any Group Company or other entity which is treated, or is capable of being treated, as Tier 1 Capital of the Company;

Examples of Tier 1 Securities in a sentence

• Upon the expiry of such notice, the Company shall either vary the terms of or substitute the Additional Tier 1 Securities, as the case may be.

• Each Holder and each Beneficial Owner of the Additional Tier 1 Securities further acknowledges and agrees that the rights of the Holders and/or Beneficial Owners under the Additional Tier 1 Securities are subject to, and will be varied, if necessary, solely to give effect to, the exercise of any U.K. Bail-in Power by the Relevant U.K. Resolution Authority.

• If any Holder or Beneficial Owner fails to properly complete and deliver a Settlement Notice and the relevant Additional Tier 1 Securities, if applicable, the Settlement Share Depository shall be entitled to treat such Settlement Notice as null and void.

• Such delivery shall irrevocably discharge and satisfy all of the Company’s obligations under the Additional Tier 1 Securities, but shall be without prejudice to the rights of the Trustee and the Holders and Beneficial Owners against the Approved Entity in connection with its undertaking to deliver Relevant Shares as provided in the definition of “New Conversion Condition”.

• Payments under the Additional Tier 1 Securities will be subject in all cases to any applicable fiscal or other laws and regulations in the place of payment or other laws and regulations to which the Company or its Paying Agents agree to be subject and the Company will not, save as provided under Section 10.04 of the Capital Securities Indenture, be liable for any taxes or duties of whatever nature imposed or levied by such laws, regulations or agreements.

• By virtue of its holding of any Additional Tier 1 Securities, each Holder and Beneficial Owner shall be deemed to have irrevocably directed the Company to issue and deliver the Settlement Shares corresponding to the conversion of its holding of Additional Tier 1 Securities to the Settlement Share Depository (or to such other relevant recipient).

• The Company shall endeavor to maintain such listing as long as the Additional Tier 1 Securities remain outstanding.

• Subject to applicable law, no Holder of Additional Tier 1 Securities may exercise, claim or plead any right of set-off, compensation or retention in respect of any amount owed to it by the Company arising under, or in respect of, or in connection with, the Additional Tier 1 Securities and each Holder of Additional Tier 1 Securities shall, by virtue of its holding of any Additional Tier 1 Securities, be deemed to have waived all such rights of set-off, compensation or retention.

• For the avoidance of doubt, the Trustee may not declare the principal amount of any outstanding Additional Tier 1 Securities to be due and payable and may not pursue any other legal remedy, including a judicial proceeding for the collection of the sums due and unpaid on the Additional Tier 1 Securities.

• Failure to provide such notice shall have no impact on the effectiveness of, or otherwise invalidate, any such cancellation or deemed cancellation of interest, or give the Holders and Beneficial Owners of the Additional Tier 1 Securities any rights as a result of such failure.

More Definitions of Tier 1 Securities

Tier 1 Securities means any obligation of UBS or, as the case may be, a Subsidiary or other entity which is, or is capable of being, treated as Tier 1 Capital of UBS on a consolidated or unconsolidated basis;

Tier 1 Securities. ’ means any securities or other obligations which are either (i) issued directly by OTP or (ii) issued by any Subsidiary of OTP or by any other entity (provided that, in the case of (ii) only, such securities or other obligations benefit from a guarantee or support agreement from OTP) which in each case by their terms are capable of qualifying as Tier 1 Capital.

Tier 1 Securities means preferred securities or other securities that constitute Tier 1 capital of the Issuer on a consolidated basis in accordance with Swiss banking laws and regulations and includes the Preferred Securities.

Tier 1 Securities means Participations (cuotas participativas) of the Guarantor, creditors of the Guarantor which are characterised as holders of equity (Otros Acreedores a Titulo Asimilable al de Aportación de Capital), including directly issued preferred securities, if any, of the Guarantor, and guarantees in respect of preference shares and preferred securities issued by any subsidiary of the Guarantor.

Tier 1 Securities or “Tier 2 Securities” means respectively any obligation of EBS or, as the case may be, a Subsidiary or other entity which is treated, or is capable of being treated, as Tier 1 Capital or, as the case may be, Tier 2 Capital of EBS; and