Fitch also cut its rating on Bank of Cyprus to "restricted default," a grade Fitch said means the bank has experienced a payment default on a bond, loan or other material obligation but has "not entered into liquidation or ceased operating".
Fitch said it was cutting its rating on Laiki to default, and its rating on Bank of Cyprus to restricted default, a grade Fitch said meant that the bank had experienced a payment default on a bond, loan or other material obligation but had "not entered into liquidation or ceased operating".
As underlying norms and moral principles regulated the social interactions in non-economic realms, future transactions and business partnerships would be built on a solid social basis,3because "the production of guanxi simultaneously creates human feeling and material obligation.
Such information would include events that accelerate or increase a material financial obligation or the issuing of new securities.
Include an exit strategy in your original business plan that directly addresses financial and material limits and obligations in the event of an unsuccessful partnership.
Resolution 1441 recognized that Iraq "has been and remains in material breach of its obligations" but gave the Iraqi regime "a final opportunity to comply with its disarmament obligations".
The third would be to declare, after a final review of the report, that Iraq is in "material breach" of its obligations.
Iraq had already been found guilty of material breach of its obligations, stretching back over 16 previous resolutions and 12 years.
In the American draft, the Council declares that Iraq has been for years "in material breach of its obligations" to the United Nations.
By this standard, the standard of this operative paragraph, I believe that Iraq is now in further material breach of its obligations.
