Redemption for Regulatory Reasons Sample Clauses
The 'Redemption for Regulatory Reasons' clause allows an issuer to redeem, or buy back, securities before their scheduled maturity if regulatory changes or requirements make it necessary. Typically, this clause is triggered if new laws, regulations, or official interpretations would result in adverse consequences for the issuer, such as increased capital requirements or loss of regulatory treatment for the securities. Its core function is to provide flexibility and protect the issuer from unforeseen regulatory developments that could negatively impact their financial or operational position.
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Redemption for Regulatory Reasons. Subject to the prior consent of the competent supervisory authority, the Issuer may redeem all of the Notes in whole but not in part, at any time at the option of the Issuer, at the Redemption Price together with any accrued and unpaid interest to (but excluding) the Redemption Date if there is a change in the regulatory classification of the Notes that would be likely to result in (i) its exclusion in full or in part from the Issuer’s own funds under the CRR or any successor legislation, other than for reasons of an amortization in accordance with Article 64 (2) of the CRR, or as a consequence of a write down or conversion, as the case may be, or (ii) their reclassification as a lower quality of the Issuer’s own funds than as of the Issue Date, provided that the conditions in Article 78(4)(a) of the CRR are met, pursuant to which the competent supervisory authority may permit any such redemption only if it considers the change in the regulatory classification to be sufficiently certain and is satisfied that the regulatory reclassification of the Notes was not reasonably foreseeable at the Issue Date. Notice of such redemption shall be given to the Holders upon not less than 30 and not more than 60 days prior to the date of redemption. Any such notice shall be given in accordance with Section 12.02 of the Base Subordinated Indenture only after having received the consent of the competent supervisory authority. Subject to Section 2.04(h), such notice shall be irrevocable and shall state the date set for redemption and the reason for redemption.
Redemption for Regulatory Reasons. In the event that the adoption of any applicable law, rule or regulation or any change in any applicable law, rule or regulation or any change in the interpretation or administration thereof by any Governmental Agency charged with the interpretation or administration thereof, or compliance by any Holder of 7-Year Floating Rate Notes with any request or directive (whether or not having the force of law) of any such Governmental Agency shall make it unlawful or impossible for any Holder of 7-Year Floating Rate Notes to continue to hold, own, maintain or fund its 7-Year Floating Rate Notes and such Holder so notifies the Trustee, the Trustee will forthwith give notice thereof to the Company. If such Holder determines that it may not lawfully continue to maintain and fund its 7-Year Floating Rate Notes until maturity and so specifies in such notice, the Company will, on the date provided therein, repay in full the then outstanding principal amount of each such 7-Year Floating Rate Note, together with accrued interest thereon, upon presentation thereof by such Holder with respect to any such 7-Year Floating Rate Note. If it is lawful for such Holder to maintain such 7-Year Floating Rate Note through the next Interest Payment Date then applicable to such 7-Year Floating Rate Note, such repayment will be due on such Interest Payment Date. If such Holder shall instead determine that it is not lawful to continue to maintain such 7-Year Floating Rate Note, such repayment will be due within 15 days after the date of receipt of such notice by the Company; provided, however, that Holders of 7-Year Floating Rate Notes will use their best efforts to avoid such unlawfulness through, without limitation, the transfer of its 7-Year Floating Rate Notes to a different Holding Office or to another Person if such transfer will avoid such unlawfulness and will not, in the sole judgment of such Holders, be otherwise reasonably disadvantageous to such Holders. The Company will have the right exercisable at any time on giving not more than 30 nor less than five days’ irrevocable notice to the Holders, to redeem all, or only some (subject to a minimum of U.S.$1 million and in accordance with the provision for selection of Floating Rate Notes to be redeemed provided for in the 7-Year Notes Indenture), of the 7-Year Floating Rate Notes at their principal amount, together with interest accrued to the date fixed for redemption, subject only to the provisions set forth in “Other Redemptio...
Redemption for Regulatory Reasons. If a Regulatory Event (as defined in the Preliminary Prospectus Supplement) has occurred and is continuing, then the Issuer may redeem all, but not only some, of the Securities at any time at their Redemption Price on the relevant date fixed for redemption, subject to the redemption conditions.
Redemption for Regulatory Reasons. Provided that the Redemption and/or Purchase Conditions are met, and subject to the Prior Approval of the Relevant Supervisory Authority, if at any time, the Issuer determines that a Regulatory Event has occurred and is continuing, or, as a result of any change in, or amendment to, or any change in the application or official interpretation of, any applicable law, regulation or other official publication, a Regulatory Event will occur within the forthcoming period of six months, then the Issuer may, subject to having given:
(i) not less than fifteen (15) nor more than thirty (30) days' notice to the Noteholders in accordance with Condition 10 (Notices) (which notice shall (save as provided in Condition 6.18 (Notices Final) below) be irrevocable and shall specify the date fixed for redemption); and
(ii) notice to the Fiscal Agent not less than three (3) days before the giving of the notice referred to in (i), redeem all (but not some only) of the Notes, at any time at their Prevailing Principal Amount together with (to the extent that such interest has not been cancelled in accordance with the Conditions) any accrued and unpaid interest to (but excluding) the date fixed for redemption.
Redemption for Regulatory Reasons. If the Issuer determines that there is a change in the regulatory classification of the Notes under the Applicable Supervisory Regulations (or official interpretation thereof), in any such case becoming effective on or after the issue date of the Notes, that would be likely to result in the exclusion of the Notes in full or in part from the own funds or a reclassification as own funds of a lower quality compared to the issue date of the Notes, the Issuer may, subject to the Conditions to Redemption and Repurchase pursuant to § 5(4) being met, redeem the Notes, in whole but not in part, on any Interest Payment Date upon not less than 10 and not more than 60 days' prior notice. If the Issuer exercises its call right in accordance with this § 5(2), and if the Conditions to Redemption and Repurchase pursuant to § 5(4) are fulfilled on the date fixed for redemption, the Issuer will redeem the Notes at their Specified Denomination, together with interest (if any) accrued to but excluding the date fixed for redemption on the date fixed for redemption.
Redemption for Regulatory Reasons. If the Issuer determines, in its own discretion, that (i) the percentage of the aggregate principal amount of the $NC10 Notes outstanding at such time that may be treated as Additional Tier 1 Capital for the purposes of its own funds in accordance with applicable law has been reduced or (ii) it is subject to any other form of a less advantageous regulatory own funds treatment with respect to the $NC10 Notes than as of the Interest Commencement Date, the $NC10 Notes may be redeemed, in whole but not in part, at any time at the option of the Issuer, subject to any required prior consent of the competent supervisory authority, upon not less than 25 and not more than 60 days’ prior notice of redemption at their Redemption Amount together with interest (if any, and subject to a cancellation of the interest payment pursuant to Section 3.08) accrued to the date fixed for redemption (exclusive).
Redemption for Regulatory Reasons. Notwithstanding Section 11.1(b), the Limited Partners hereby acknowledge and agree that the General Partner may accept subscriptions from more than 500 Limited Partners in anticipation of receiving no-action relief from the SEC with respect to certain public reporting and other regulatory requirements under the Exchange Act applicable to issuers whose interests are held by more than 500 Persons. In the event that the SEC declines to grant the requested relief, the General Partner shall have the right to redeem (or to designate another Permitted Transferee to redeem) the interests of one or more Limited Partners, which Limited Partners shall be selected by the General Partner in its sole discretion. Each Limited Partner whose interest in the Partnership is redeemed pursuant to this Section 11.1(c) shall be entitled to receive, as consideration for such redemption, an amount equal to the sum of (i) the aggregate amount - of such Limited Partner's Capital Contributions, less any amounts distributed by the Partnership to such Limited Partner prior to such redemption, plus (ii) interest. For the purposes of this Section 11.1(c), (A) capital held by the Partnership in Temporary Investments pending investment in Portfolio Investments will earn the actual amount of interest earned by the Partnership thereon and (B) capital invested by the Partnership in Portfolio Investments or Bridge Financings will earn the - Applicable Federal Rate, determined on and calculated from the date on which such capital was invested by the Partnership. Any Limited Partner whose interest in the Partnership is redeemed pursuant to this Section 11.1(c) shall, immediately upon such redemption, cease to be a Partner and shall be deemed never to have been a Partner for all purposes of this Agreement.