BAIL-IN. 17.1 This Clause 17 shall apply from the date upon which English law becomes the law of a third country for the purposes of Article 55 BRRD. 17.2 Notwithstanding any other terms of the agreement or any other agreement, arrangement or understanding between the parties, each counterparty to a BRRD Party acknowledges and accepts that any liability of a BRRD Party to it under or in connection with the agreement may be subject to Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of: 17.2.1 any Bail-In Action in relation to any such liability, including (without limitation): (a) 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; (b) 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 (c) a cancellation of any such liability; and 17.2.2 a variation of any terms of the agreement to the extent necessary to give effect to any Bail-In Action in relation to any such liability. 17.3 For the purposes of this Clause 17:
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BAIL-IN.
17.1 This Clause 17 shall apply from the date upon which English law becomes the law of a third country for the purposes of Article 55 BRRD.
17.2 Notwithstanding any other terms of the agreement or any other agreement, arrangement or understanding between the parties, each counterparty to a BRRD Party acknowledges and accepts that any liability of a BRRD Party to it under or in connection with the agreement may be subject to Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of:
17.2.1 any Bail-In Action in relation to any such liability, including (without limitation):
(a) 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;
(b) 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
(c) a cancellation of any such liability; and
17.2.2 a variation of any terms of the agreement to the extent necessary to give effect to any Bail-In Action in relation to any such liability.
17.3 For the purposes of this Clause 17:
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BAIL-IN.
17.1 This Clause 17 23 shall apply from the date upon which English law becomes the law of a third country for the purposes of Article 55 BRRD.
17.2 23.1 Notwithstanding any other terms of the agreement or any other agreement, arrangement or understanding between the parties, each counterparty to a BRRD Party acknowledges and accepts that any liability of a BRRD Party to it under or in connection with the agreement may be subject to Bail-In Action by the relevant Resolution Authority and acknowledges and accepts to be bound by the effect of:
17.2.1 23.1.1 any Bail-In Action in relation to any such liability, including (without limitation):
(a) 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;
(b) 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
(c) a cancellation of any such liability; and
17.2.2 (d) a variation of any terms of the agreement to the extent necessary to give effect to any Bail-In Action in relation to any such liability.
17.3 23.2 For the purposes of this Clause 1723:
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Samples: Paying Agency Agreement
