Common use of BRRD Clause in Contracts

BRRD. Notwithstanding anything to the contrary in this Indenture or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of the Agents arising under this Indenture or any such other document, to the extent such liability is unsecured or not otherwise exempted, may be subject to the write-down and conversion powers of a Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: (1) the application of any Write-Down and Conversion Powers by a Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto; and (2) the effects of any Bail-in Action on any such liability, including, if applicable: (A) a reduction in full or in part or cancellation of any such liability; (B) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such party, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Indenture or any other agreement; or (C) the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of any Resolution Authority.

BRRD. 33.1 Notwithstanding anything to the contrary in this Indenture Agreement or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of the Agents Paying and Issuing Agent or the Registrar arising under this Indenture Agreement or any such other document, to the extent such liability is unsecured or not otherwise exempted, may be subject to the write-down and conversion powers of a Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: (1a) the application of any Write-Down and Conversion Powers by a Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto; and (2b) the effects of any Bail-in Action on any such liability, including, if applicable: (A) 1. a reduction in full or in part or cancellation of any such liability; (B) 2. a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such party, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Indenture Agreement or any other agreement; or (C) the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of any Resolution Authority.