Tier 2 Note definition

Tier 2 Note means a Note specified as such in the applicable Final Terms;

Tier 2 Note means a Note in respect of which payments of principal and interest are subordinated in accordance with the provisions of Clause 5 and with terms and conditions otherwise as may be agreed between the Issuer and the relevant Dealer(s) (all as indicated in the applicable Final Terms or applicable Pricing Supplement, as the case may be); Tranche means all Notes of the same Series with the same Issue Date, Interest Commencement Date and Issue Price; trust corporation means a corporation entitled by rules made under the Public Trustee Act 1906 or entitled pursuant to any other legislation applicable to a trustee in any jurisdiction other than England to carry out the functions of a custodian trustee; Trustee Acts means the Trustee Act 1925 and the Trustee Act 2000; this Trust Deed means this trust deed, the Schedules and the Conditions, the Notes, the Coupons and the Talons as scheduled hereto (all as from time to time amended, supplemented or modified);

Tier 2 Note is defined in Section 2.6.

Examples of Tier 2 Note in a sentence

• Where only a Relevant Part of a Tier 2 Note is written off (and such Tier 2 Note is therefore only partially written off), a Tier 2 Noteholder’s rights, title and interest in, and the Issuer’s obligations in respect of, that portion of such Tier 2 Noteholder’s Tier 2 Notes not written off, will remain unaffected by the writing off of such Relevant Part.

• RCBC Note In 2008, Smart purchased at par a ten-year RCBC Tier 2 Note, or RCBC Note, with a face value of Php150 million bearing a fixed rate of 7.00% for the first five years and the step-up interest rate from the fifth year up to maturity date.

• Only if an order is made or an effective resolution is passed for the winding-up of the Issuer (otherwise than for the purpose of an amalgamation, merger, consolidation or re- organisation not involving liquidation, winding-up or bankruptcy) shall the Tier 2 Noteholder be able to declare (upon written notice) such Tier 2 Note immediately due and payable.

• Subject to applicable law, no holder of a Subordinated Tier 2 Note may exercise or claim any right of set off in respect of any amount owed to it by the Issuer arising under or in connection with the Subordinated Tier 2 Notes and each holder of a Subordinated Tier 2 Note shall, by virtue of his subscription, purchase or holding of any Subordinated Tier 2 Note, be deemed to have waived all such rights of set off.

• Any Tier 2 Notes written off in accordance with Condition 6.5.1.2 above will promptly be cancelled in the Register, and each Tier 2 Noteholder hereby agrees to such cancellation and acknowledges that, where the Tier 2 Note is certificated and evidenced in an Individual Certificate, such cancellation will occur without such Tier 2 Noteholder having to deliver the relevant Individual Certificate to the Issuer.

• Only if an order is made or an effective resolution is passed for the winding-up of the Issuer (otherwise than for the purpose of an amalgamation, merger, consolidation or re-organisation not involving liquidation, winding-up or bankruptcy) shall the Tier 2 Noteholder be able to declare (upon written notice) such Tier 2 Note immediately due and payable.

• Any Tier 2 Notes written off in accordance with Condition 6(e)(1)(ii) above will promptly be cancelled in the Register, and each Tier 2 Noteholder hereby agrees to such cancellation and acknowledges that, where the Tier 2 Note is certificated and evidenced in an Individual Certificate, such cancellation will occur without such Tier 2 Noteholder having to deliver the relevant Individual Certificate to the Issuer.

• Only if an order is made or an effective resolution is passed for the winding-up of the Issuer (otherwise than for the purpose of an amalgamation, merger, consolidation or re- organisation not involving liquidation, winding-up or bankruptcy) shall the Tier 2Noteholder be able to declare (upon written notice) such Tier 2 Note immediately due and payable.

• Subject to applicable law, neither any Tier 2 Noteholder or Tier 2 Couponholder nor the Trustee may exercise or claim any right of set-off or netting in respect of any amount owed to it by the Issuer arising under or in connection with the Tier 2 Notes or the Tier 2 Coupons and each Tier 2 Noteholder and Tier 2 Couponholder shall, by virtue of its subscription, purchase or holding of any Tier 2 Note or Tier 2 Coupon, be deemed to have waived all such rights of set-off and netting.

• Tier 2 Note: The Digital Millennium Copyright Act (DMCA) is a federal copyright law that enhances the penalties for copyright infringement occurring on the internet.

More Definitions of Tier 2 Note

Tier 2 Note means a Note in respect of which payments of principal and interest are subordinated in accordance with the provisions of Clause 8 and the Conditions and, on issue, with terms capable of qualifying as Tier 2 Capital for the purposes of the Capital Regulations (as defined in Condition 6.12).