Pacific Gas and Electric Company · Bankruptcy · 2019 · 4.65% Senior Notes due August 1, 2028
Is the instrument Not Contingent (principal not reducible for a reason other than payment)?
Verified answer
Basis. No clause making principal contingent on an event other than payment was found in the documents.
Source clauses
Decided by absence: no clause making principal contingent was found.How it was checked · 2 checks
- Rule re-applied. The Not Contingent rule (v1.0), re-applied to the stored facts, gives the same result as the Mastermind v3 run of 2026-09-29.
- Absence confirmed. The record contains no clause making principal contingent on an event other than payment; a separate heuristic extractor finds no such clause either.
Not Contingent
Principal must not be reducible by reason of contingencies other than payment. This is a CDSBench check: under the 2014 ISDA Definitions contingency is handled through the Outstanding Principal Balance rather than as a separate characteristic.
These checks are CDSBench's provisional reading of the 2014 ISDA Credit Derivatives Definitions, not legal advice.
Instrument: 4.65% Senior Notes due August 1, 2028
Source documents
The case record. Sections behind the verified answer are marked.
- DOC-1 PG&E Corporation / Pacific Gas and Electric Company 8-K filed 2019-01-29, Item 1.03 Bankruptcy (and Item 2.04), petition 2019-01-29excerpts
- DOC-2 First Supplemental Indenture dated August 6, 2018, $300,000,000 4.65% Senior Notes due August 1, 2028 (EX-4.2)excerpts
- DOC-3 Indenture dated August 6, 2018, Pacific Gas and Electric Company (base indenture, EX-4.1)excerpts
Related questions and cases
Same case
- #1 Is the instrument a Deliverable Obligation for this credit event, on 7 checks: the issuer is the Reference Entity; the Maximum Maturity (30 years), Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics; and Not Contingent?Eligible
- #2 Does the instrument meet the Maximum Maturity characteristic (30 years)?Yes
- #3 Does the instrument meet the Specified Currency characteristic (USD, EUR, JPY, GBP, CHF, CAD)?Yes
- #4 Does the instrument meet the Not Subordinated characteristic?Yes
- #5 Does the instrument meet the Not Bearer characteristic?Yes
- #7 Does the instrument meet the Transferable characteristic?Yes
- #8 Is the issuer of the instrument the Reference Entity?Yes
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