Universal Successor definition

Universal Successor means, with respect to a Reference Entity which is not a sovereign, the single entity which assumes all of the obligations (including at least one relevant bond or loan) of the Reference Entity and at the time of the determination either (i) the Reference Entity has ceased to exist, or (ii) the Reference Entity is in the process of being dissolved (however described) and the Reference Entity has not issued or incurred any borrowed money obligation at any time since the legally effective date of the assumption.
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Universal Successor means, with respect to a Reference Entity which is not a sovereign, the single entity which assumes all of the obligations (including at least one obligation that qualifies as a Relevant Obligation under the 2014 Definitions) of the Reference Entity and at the time of the determination either
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Universal Successor means, with respect to a Reference Entity which is not a
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Examples of Universal Successor in a sentence

  • Under the ISDA Credit Derivatives Definitions, the look-back period of 90 calendar days will not apply in relation to a Universal Successor.

  • Universal Successor Features Approximators [Borsa et al., 2019] and Universal Successor Representations [Ma et al., 2018] combine the benefits of SF and UVFA to further generalise across goals.

  • For succession, the look-back period is 90 calendar days and functions similarly, except in the case of a "Universal Successor" of a non-Sovereign Reference Entity which has ceased to exist, for which there is a single, fixed back-stop date of 1 January 2014.

  • However, while this concept was the genesis of the provision included in the 2014 Definitions, the concept was not simply imported, and the DC was of the view that Universal Successor should be interpreted in accordance with the wording of the 2014 Definitions.

  • The proposed AKF-SR framework is evaluated in this section and compared to the state of the art RL algorithms: Deep Q-Network [37], Substochastic Successor Representation (SSR) framework [36], and Universal Successor Representations (USR) [2].

  • This limitation was relaxed by combining the concept of Universal Value Functions (UVFAs) [30] with the SR in the Universal Successor Repre- sentation (USR) [18].

  • Transporter reserves the transfer rights to the Universal Successor or Singular Successor of its rights, liabilities and obligations arising from this Contract.

  • Universal Successor determination The concept of universal succession is a recognised one under English law, whereby a succeeding entity assumes all obligations of the original entity and the original entity thereby ceases to exist.

  • Accordingly, there would only be a Successor to the Reference Entity if Ziggo Bond Company B.V., the entity that assumed the Senior Notes in March 2018, constituted a Universal Successor.

  • Even if a Determinations Committee has not been convened to determine such matter as of the trade date, one may still be convened after the trade date in respect of an event which occurs up to 60 days (in the case of a Credit Event), 90 days (in the case of the determination of a Successor), or at any time (in the case of the determination of a Universal Successor) before the date of a request to convene such Determinations Committee to make the relevant determinations.


More Definitions of Universal Successor

Universal Successor means, with respect to the Reference Entity, the single entity which assumes all of the obligations (including at least one relevant bond or loan) of the Reference Entity and at the time of determination, either (A) the Reference Entity has ceased to exist, or
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Related to Universal Successor

  • Business Successor means (i) any former Subsidiary of the Company and (ii) any Person that, after the Issue Date, has acquired, merged or consolidated with a Subsidiary of the Company (that results in such Subsidiary ceasing to be a Subsidiary of the Company), or acquired (in one transaction or a series of transactions) all or substantially all of the property and assets or business of a Subsidiary or assets constituting a business unit, line of business or division of a Subsidiary of the Company.

  • Division Successor means any Person that, upon the consummation of a Division of a Dividing Person, holds all or any portion of the assets, liabilities and/or obligations previously held by such Dividing Person immediately prior to the consummation of such Division. A Dividing Person which retains any of its assets, liabilities and/or obligations after a Division shall be deemed a Division Successor upon the occurrence of such Division.

  • Permitted Successor is defined in Section 5.02 of the Sale Agreement.

  • Qualified Successor means a person who is entitled to ownership of an Option upon the death of an Optionee, pursuant to a will or the applicable laws of descent and distribution upon death;

  • Successor Corporation means a corporation, or a parent or subsidiary thereof within the meaning of Section 424(a) of the Code, which issues or assumes a stock option in a transaction to which Section 424(a) of the Code applies.

  • Qualified Successor Entity means, with respect to a Business Combination Event, a corporation; provided, however, that a limited liability company, limited partnership or other similar entity will also constitute a Qualified Successor Entity with respect to such Business Combination Event if either (A) such Business Combination Event is an Exempted Fundamental Change; or (B) both of the following conditions are satisfied: (i) either (x) such limited liability company, limited partnership or other similar entity, as applicable, is treated as a corporation or is a direct or indirect, wholly owned subsidiary of, and disregarded as an entity separate from, a corporation, in each case for U.S. federal income tax purposes; or (y) the Company has received an opinion of a nationally recognized tax counsel to the effect that such Business Combination Event will not be treated as an exchange under Section 1001 of the Internal Revenue Code of 1986, as amended, for Holders or beneficial owners of the Notes; and (ii) such Business Combination Event constitutes a Common Stock Change Event whose Reference Property consists solely of any combination of cash in U.S. dollars and shares of common stock or other corporate common equity interests of an entity that is (x) treated as a corporation for U.S. federal income tax purposes; and (y) duly organized and existing under the laws of the United States of America, any State thereof or the District of Columbia.

  • LIBOR Successor Rate has the meaning specified in Section 3.03(c).

  • Successor Company shall have the meaning specified in Section 11.01(a).

  • Pre-Adjustment Successor Rate has the meaning specified in Section 3.03(c).

  • Successor personal representative means a personal representative, other than a special administrator, who is appointed to succeed a previously appointed personal representative.

  • Successor Rate means a successor to or replacement of the Original Reference Rate which is formally recommended by any Relevant Nominating Body.

  • Successor Holdings has the meaning assigned to such term in Section 6.03(a)(v).

  • Successor Entity means the Person (or, if so elected by the Holder, the Parent Entity) formed by, resulting from or surviving any Fundamental Transaction or the Person (or, if so elected by the Holder, the Parent Entity) with which such Fundamental Transaction shall have been entered into.

  • Successor means an entity that has replaced a predecessor by acquiring the assets and carrying out the affairs of the predecessor under a new name (often through acquisition or merger). The term "successor" does not include new offices/divisions of the same company or a company that only changes its name. The extent of the responsibility of the successor for the liabilities of the predecessor may vary, depending on State law and specific circumstances.

  • Successor Benchmark Rate means a successor to or replacement of the Original Benchmark Rate which is formally recommended by any Relevant Nominating Body.

  • Predecessor Company means an entity whose ownership, title and interest, including all rights, benefits, duties and liabilities were acquired in an uninterrupted chain of succession by the company.

  • Domestic partnership means an association of two or more persons to carry on as co-owners a

  • LLC Division means the division of a limited liability company into two or more limited liability companies, with the dividing company continuing or terminating its existence as a result, whether pursuant to the laws of any applicable jurisdiction or otherwise (including, without limitation, any “plan of division” under Section 18-217 of the Delaware Limited Liability Company Act or any similar statute or provision under applicable law or otherwise).

  • Successor Person has the meaning assigned to such term in Section 6.03(b)(i).

  • Delaware LLC Division means the statutory division of any Delaware LLC into two or more Delaware LLCs pursuant to Section 18-217 of the Delaware Limited Liability Company Act.

  • Successor in Interest means any (i) shareholder of; (ii) trustee, custodian, receiver or other person acting in any Bankruptcy or reorganization proceeding with respect to; (iii) assignee for the benefit of the creditors of; (iv) officer, director or partner of; (v) trustee or receiver, or former officer, director or partner, or other fiduciary acting for or with respect to the dissolution, liquidation or termination of; or (vi) other executor, administrator, committee, legal representative or other successor or assign of, any Partner, whether by operation of law or otherwise.

  • Inverted domestic corporation means a foreign incorporated entity that meets the definition of an inverted domestic corporation under 6 U.S.C. 395(b), applied in accordance with the rules and definitions of 6 U.S.C. 395(c).

  • Successor Parent with respect to any Person, means any other Person with more than 50% of the total voting power of the Voting Stock which is, at the time the first Person becomes a Subsidiary of such other Person, “beneficially owned” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act) by one or more Persons that “beneficially owned” (as so defined) more than 50% of the total voting power of the Voting Stock of the first Person immediately prior to the first Person becoming a Subsidiary of such other Person.

  • Permitted Assign means, for a person that is an employee, executive officer, director or consultant of an issuer or of a related entity of the issuer,

  • Successor Reference Rate means the rate that the relevant Independent Adviser determines is a successor to or replacement of the Reference Rate which is formally recommended by any Relevant Nominating Body.

  • Registered domestic partner means an individual joined in a domestic partnership that is registered by a county clerk in accordance with ORS 106.300 to 106.340.