Acknowledgement and Consent to Bail-In of Société Générale. Notwithstanding any other term of this Agreement or any other agreement, arrangement or understanding between the parties hereto, each party hereto acknowledges and accepts that any liability of Société Générale to any party under or in connection with this Agreement may be subject to Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of:
(a) any Bail-In Action in relation to any such liability, including (without limitation):
(i) a reduction, in full or in part, in the principal amount, or outstanding amount due (including any accrued but unpaid interest) in respect of any such liability;
(ii) a conversion of all, or part of, any such liability into shares or other instruments of ownership that may be issued to, or conferred on, it; and
(iii) a cancellation of any such liability; and
(b) a variation of any term of this Agreement to the extent necessary to give effect to any Bail-In Action in relation to any such liability.
(c) For the purposes of this Section 22, the following definitions apply:
