Tier 2 Securities definition

Tier 2 Securities means securities of the Guarantor that:
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Tier 2 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 other securities benefit from a guarantee or support agreement from OTP) which in each case by their terms are capable of qualifying as Tier 2 Capital but not as Tier 1 Capital.
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Tier 2 Securities means Securities issued under this Indenture which constitute Tier 2 Capital in accordance with the requirements in effect from time to time of the Financial Services Authority.
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Examples of Tier 2 Securities in a sentence

  • However the Guarantor’s Court of Directors will exercise such discretion if the Guarantor or any of its Subsidiaries has suspended payment of, deferred or waived the most recent payment on any of its Tier 1 Securities (unless such payment is the last payment in the Dividend Stopper Period) or on any of its Tier 2 Securities (unless prior to such Distribution Payment Date all the arrears of interest in respect of such Tier 2 Security have been paid).

  • The Securities of any series which constitute Tier 2 Securities may not be redeemed in whole or in part except in accordance with the U.K. Financial Services and Markets A▇▇ ▇▇▇▇.

  • The Recovered Principal with regard to the Written-Down Notes shall be in an amount such that the recovery of the Holders Eligible for Recovery in respect of the Written-Down Notes is proportionate to the recovery of all Holders of Write-Down Tier 2 Securities written down on a pro rata basis together with the Written-Down Notes.

  • The agreement or approval of the Holders shall not be required in the case of any variation of these Conditions and/or the Trust Deed required to be made in the circumstances described in Condition 6(f) in connection with the variation of the terms of the Notes so that they become, alternative Qualifying Tier 2 Securities, and to which the Trustee has agreed pursuant to the relevant provisions of Condition 6(f).

  • If the Issuer makes a Write-Down of the Notes (in part or in full), it will write down on a substantially concurrent basis (i) the Notes and (ii) all Write-Down Tier 2 Securities on a pro rata basis (based on the aggregate principal amount of such securities outstanding).

  • The Securities of any series which constitute Tier 2 Securities may not be redeemed in whole or in part, whether pursuant to a sinking fund or analogous provision, except in accordance with the Financial Services Authority Practices.

  • The Securities of any series which constitute Tier 2 Securities may not be redeemed in whole or in part at the option of the Holder thereof except in accordance with the Financial Services Authority Practices.

  • Tier 2 Securities may not be purchased by the Issuer thereof, any Subsidiary or the Guarantors at any time except in accordance with the Financial Services Authority Practices.

  • However the Court of Directors will exercise such discretion if the Guarantor or any of its Subsidiaries has suspended payment of, deferred or waived the most recent payment on any of its Tier 1 Securities (unless such payment is the last payment in the Dividend Stopper Period) or Tier 2 Securities (unless prior to such Distribution Payment Date all the arrears of interest in respect of such Tier 2 Security have been paid).

  • However, the Guarantor’s Court of Directors will exercise such discretion to resolve that a Distribution should not be paid if the Guarantor or any of its Subsidiaries has suspended payment of, deferred or not paid the most recent payment on any of its Tier 1 Securities (unless such payment is the last payment in the Dividend Stopper Period) or on any of its Tier 2 Securities (unless, prior to such Distribution Payment Date, all the arrears of interest in respect of all Tier 2 Securities have been paid).