Valuation Obligation definition

Valuation Obligation means each obligation selected for valuation by the Calculation Agent on or prior to the Valuation Date for the purposes of settlement of the Notes, being obligations which are capable of being Deliverable Obligations of the relevant Reference Entity on the date of selection.

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Valuation Obligation means a Bond issued by the Reference Entity with the following characteristics:

Valuation Obligation means at the choice of the Issuer a Bond or Loan of the Reference Entity that on the Recovery Valuation Date meets the following criteria:

Examples of Valuation Obligation in a sentence

Following a Credit Event Determination Date, subject to the Cash Settlement procedures and the Physical Settlement procedures, if applicable, the Issuer is entitled to select one or more Valuation Obligations for delivery (or, if Cash Settlement applies, for valuation) which has the lowest value in the market at the relevant time, provided such obligation satisfies certain specifications and limits for qualification as a Valuation Obligation.
Following a Credit Event Determination Date, the Issuer is entitled to select one or more Valuation Obligations for valuation which have the lowest (or highest) value in the market at the relevant time, provided each such obligation satisfies certain specifications and limits for qualification as a Valuation Obligation.
If the Calculation Agent is unable to obtain two or more quotations for a Valuation Obligation on the same Business Day within five Business Days of the Valuation Date, then the Final Price will be determined by the Calculation Agent in its commercially reasonable discretion.

More Definitions of Valuation Obligation

Valuation Obligation means, subject to clause (5) below:

Valuation Obligation means, subject to Condition 7(n):

Valuation Obligation means an obligation of the relevant Reference Entity that satisfies the criteria for the Valuation Obligation as set forth in Schedule B of the Credit Confirmation.

Valuation Obligation means, in respect of a Reference Entity, notwithstanding anything to the contrary in the Credit Linked Conditions, one or more obligations of such Reference Entity (either directly or as provider of a Relevant Guarantee) which is capable of being specified in a Notice of Physical Settlement (or in any NOPS Amendment Notice, as applicable) if Physical Settlement were the applicable Settlement Method and/or any Asset in the related Asset Package in respect of a Prior Deliverable Obligation or Package Observable Bond, in each case, as selected by the Issuer in its sole and absolute discretion on or prior to the applicable Valuation Date, provided that, for such purpose:

Valuation Obligation means (i) any Reference Obligation and (ii) any obligations of a Reference Entity which (a) is described by the Valuation Obligation Category and (b) having the Valuation Obligation Characteristics specified herein.

Valuation Obligation means, in respect of a Reference Entity, notwithstanding anything to the contrary in the Credit Security Conditions, one or more obligations of such Reference Entity (either directly or as provider of a Relevant Guarantee) which is capable of being specified in a Notice of Physical Settlement (or in any NOPS Amendment Notice, as applicable) if Physical Settlement were the applicable Settlement Method and/or any Asset in the related Asset Package

Valuation Obligation means, in respect of a Reference Entity, notwithstanding anything to the contrary in the Credit Linked Conditions, one or more obligations of such Reference Entity (either directly or as provider of a Qualifying Guarantee or, as the case may be, Qualifying Affiliate Guarantee), which would constitute a "Deliverable Obligation" if Physical Settlement were the applicable Settlement Method as selected by the Issuer in its sole and absolute discretion on the applicable Valuation Date, provided that, for such purpose: