Common use of Acknowledgment and Consent to Bail-In and EEA Financial Institutions Clause in Contracts

Acknowledgment and Consent to Bail-In and EEA Financial Institutions. Notwithstanding any other term in any Facility Document or any other agreement, arrangement or understanding among the parties hereto (each, a “Party”), each Party acknowledges and accepts that any liability of any Party to any other Party under or in connection with the Facility Documents 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 any Facility Document to the extent necessary to give effect to any Bail-In Action in relation to any such liability.