Underlying Obligation definition

Underlying Obligation means, with respect to a guarantee, the obligation which is the subject of the guarantee.

Underlying Obligation means any Obligation of the Underlying Obligor from Borrowed Money for which the Reference Entity is acting as provider of a Qualifying Guarantee.

Underlying Obligation has the meaning given in paragraph 6.3 of Part B of Schedule 2.2 (Performance Measures and Monitoring);

Examples of Underlying Obligation in a sentence

• References in the definition of Substitute Reference Obligation to the Qualifying Guarantee and the Underlying Obligation shall be deemed to include the Qualifying Policy and the Insured Instrument, respectively.

• For purposes of Section 2.30(a)(ii)(B) and Section 1.14(b)(ii), references to the Qualifying Guarantee and the Underlying Obligation shall be deemed to include the Qualifying Policy and the Insured Instrument, respectively.

• Following the occurrence of a TRS Early Termination Event, the market value of the Underlying Obligation (which is expressed as a percentage) (the Market Value) will be determined by the TRS Calculation Agent acting in a commercially reasonable manner.

• Notional Amount means an amount of the Underlying Obligation equal to the aggregate outstanding principal amount of the Notes (in whatever currency it might be from time to time).

• The principal purpose of the Total Return Swap Transaction is for the Issuer (and via the Notes, the Noteholders) to gain exposure to the Underlying Obligation (without the Issuer actually having to own it).

More Definitions of Underlying Obligation

Underlying Obligation has the meaning set forth in Section 5.7(b).

Underlying Obligation means the obligations of any Underlying Obligor with respect to an Underlying Transaction.

Underlying Obligation means, with respect to a Qualifying Guarantee, the obligation that the applicable Reference Entity is guaranteeing.

Underlying Obligation. Nothing herein shall modify any term of the Guaranty unless specifically provided herein.

Underlying Obligation has the meaning ascribed thereto in section 8.2(h);

Underlying Obligation has the meaning specified in the definition of Qualifying Affiliate Guarantee.

Underlying Obligation means an asset or obligationof a risk transferring participant as specified in an agreement of risk participation.