Unwind Costs definition
Unwind Costs means an amount determined by the Calculation Agent equal to the Issuer’s expenses, losses or costs (expressed as a negative number) or gain (expressed as a positive number) incurred (or expected to be incurred) by or on behalf of the Issuer as a result of its terminating, liquidating, modifying, obtaining or re-establishing any hedges or related trading positions or funding arrangements entered into by it (including with its internal functions) and including, without limitation, interest rate swaps specifically in connection with the Notes.
Unwind Costs means an amount determined by the Calculation Agent equal to the sum of (without duplication) all costs, fees, charges, expenses (including loss of funding), tax and duties incurred by the Issuer and/or any of its Affiliates in connection with the redemption of the Credit- Linked Notes and the related termination, settlement or re- establishment of any hedge or related trading position.
Unwind Costs means the value of the fees, costs, charges, expenses and liabilities incurred by the Swap Counterparty and the Issuer in connection with the redemption of the Notes in the circumstances described in paragraphs 38(b), (c), (e), (f) and (g) of the terms and conditions of the Notes above.
Examples of Unwind Costs in a sentence
The Issuer is not under any duty to hedge itself with respect to any Credit Linked Notes, nor is it required to hedge itself in a manner that will result in the lowest Unwind Costs.
Investors should be aware that, if Unwind Costs are greater than the applicable Recovery Amount, the Redemption Amount will be zero.
Any Redemption Amounts payable to Noteholders following the occurrence of a Credit Event will reflect the Unwind Costs, if applicable, of the Issuer.
The Bank agrees to conduct all Unwind Transactions in a commercially reasonable manner and to provide the Company with documentary evidence of any Unwind Costs promptly upon request by the Company.
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More Definitions of Unwind Costs
Unwind Costs means an amount determined by the Calculation Agent equal to the sum of (without duplication) the Issuer’s expenses (including loss of funding), tax, duties, losses, costs, fees, charges (expressed as a negative number) or gain (expressed as a positive number) incurred (or expected to be incurred) by or on behalf of the Issuer and/or any of its Affiliates as a result of its terminating, liquidating or modifying, any cross currency interest rate swap positions or funding arrangements specific to the Notes entered into by it (including with its internal functions).
Unwind Costs means the value in the Settlement Currency of the fees, costs, charges, expenses, taxes (including any stamp duty tax) and liabilities which the Disposal Agent and/or the Issuer incurs, is expected to incur or is otherwise required to deduct in connection with the redemption of the Notes pursuant to the Conditions (including, without limitation, any fees, costs, charges, expenses, taxes (including any stamp duty tax) and liabilities which the Disposal Agent and/or the Issuer incurs, is expected to incur or is otherwise required to deduct in connection with holding or transferring any Collateral for the purposes of effecting a physical settlement of the relevant Notes), as determined by the Calculation Agent in good faith and in a commercially reasonable manner.
Unwind Costs means, in relation to this Tranche of Notes, an amount equal to the total amount of any and all costs and expenses of whatsoever nature associated or incurred by the Issuer or any Affiliate in connection with the early redemption of this Tranche of Notes (including, without limitation, any costs associated with unwinding any funding or other financing relating to this Tranche of Notes, any costs associated with unwinding or reinstating any hedge positions relating to this Tranche of Notes and all taxes, regulatory costs and/or penalties), all as determined and calculated by the Calculation/Issuer Agent acting in a commercially reasonable manner.
Unwind Costs means an amount in EUR which is the aggregate of:
Unwind Costs means an amount determined by the Calculation Agent in its sole and absolute discretion applying such commercially reasonable procedures as it deems appropriate, in accordance with the following provisions. The Calculation Agent shall calculate the market value of the Charged Agreement upon the early termination of the Charged Agreement (taking into account any loss, cost or expense (including, but not limited to, the loss of bargain, cost of funding, or any loss, costs, or expenses in terminating, unwinding, liquidating, obtaining or re-establishing any hedge or related trading position) incurred as a result of terminating this Transaction early), plus any costs, fees, expenses and charges incurred by Buyer, Seller and the Trustee (without double- counting) in connection with the payment of the Bond Redemption Amount or with delivery of the Remaining Unrealised Charged Assets (as the case may be) including, without limitation any brokers’ commissions, documentation fees and expenses, any taxes and stamp duties, any funding costs and any legal or other ancillary costs incurred by Buyer or Seller as a consequence of such early termination.
Unwind Costs means the amount specified in the Issue Terms (if any) or if "Standard Unwind Costs" are specified in the Issue Terms, an amount determined by the Calculation Agent equal to the aggregate sum of (without duplication) all costs (including loss of funding), fees, charges, expenses, tax and duties incurred by the Issuer and/or any of its Affiliates in connection with the redemption of the Relevant Assets and the Notes and the related termination, settlement or re-establishment of any Hedging Arrangements.
Unwind Costs means, in respect of each such Inflation Linked Note, an amount equal to such Inflation Linked Note's pro rata portion of the value (determined in the currency in which the Inflation Linked Notes are denominated) of any losses, expenses and costs to the Issuer, any Hedging Party and/or any of its affiliates and any loss of tax relief or other tax consequences of unwinding and adjusting any underlying or related swap agreement or other hedging arrangements (including but not limited to any options or selling or otherwise realising instruments of any type whatsoever which the Issuer, any Hedging Party and/or any of its affiliates may hold as part of such hedging arrangement and without duplication), all as calculated by the Issuer in its sole discretion.