CBC ACCELERATION NOTICE. If a CBC Acceleration Notice is served by the Security Trustee to the CBC, then and at any time thereafter the Security Trustee on behalf of the Savings Participant may and, if so directed by the Savings Participant, shall by notice to the CBC: (i) declare that the obligations of the Savings Participant hereunder, in particular under Clause 2.1 hereof, are terminated; and (ii) declare the Participation to be immediately due and payable, whereupon it shall become so due and payable, subject, however, to Clause 2.3 hereof.
Appears in 4 contracts
Samples: Savings Participation Agreement, Guarantee Support Agreement, Savings Participation Agreement
CBC ACCELERATION NOTICE. If a CBC Acceleration Notice is served by the Security Trustee to the CBC, then and at any time thereafter the Security Trustee on behalf of the Insurance Savings Participant may and, if so directed by the Insurance Savings Participant, shall by notice to the CBC:
(i) declare that the obligations of the Insurance Savings Participant hereunder, in particular under Clause 2.1 hereof, are terminated; and
(ii) declare the Insurance Savings Participation to be immediately due and payable, whereupon it shall become so due and payable, subject, however, to Clause 2.3 hereofhereof and the Trust Deed.
Appears in 3 contracts
Samples: Insurance Savings Participation Agreement, Insurance Savings Participation Agreement, Insurance Savings Participation Agreement
CBC ACCELERATION NOTICE. If a CBC Acceleration Notice is served by the Security Trustee to the CBC, then and at any time thereafter the Security Trustee on behalf of the Savings Participant may and, if so directed by the Savings Participant, shall by notice to the CBC:
(i) declare that the obligations of the Savings Participant hereunder, in particular under Clause 2.1 hereof, are terminated; and
(ii) declare the Participation to be immediately due and payable, whereupon it shall become so due and payable, subject, however, to Clause 2.3 hereofhereof and the Trust Deed.
Appears in 1 contract
Samples: Guarantee Support Agreement
CBC ACCELERATION NOTICE. If a CBC Acceleration Notice is served by the Security Trustee to the CBC, then and at any time thereafter the Security Trustee on behalf of the Insurance Savings Participant may and, if so directed by the Insurance Savings Participant, shall by notice to the CBC:
(i) declare that the obligations of the Insurance Savings Participant hereunder, in particular under Clause 2.1 hereof, are terminated; and
(ii) declare the Insurance Savings Participation to be immediately due and payable, whereupon it shall become so due and payable, subject, however, to Clause 2.3 hereof.
Appears in 1 contract
