CONTRACTUAL RECOGNITION OF NORWEGIAN STATUTORY LOSS ABSORPTION POWERS Sample Clauses

CONTRACTUAL RECOGNITION OF NORWEGIAN STATUTORY LOSS ABSORPTION POWERS. Notwithstanding and to the exclusion of any other term of the Notes or any other agreements, arrangements or understanding between the Issuer and any Noteholder (which, for the purposes of this Condition 21, includes each holder of a beneficial interest in the Notes), by its acquisition of any Note, each Noteholder acknowledges and accepts that any liability arising under the Notes may be subject to the exercise of Norwegian Statutory Loss Absorption Powers by the Relevant Resolution Authority and acknowledges, accepts, consents to and agrees to be bound by: (a) the effect of the exercise of any Norwegian Statutory Loss Absorption Powers by the Relevant Resolution Authority, which exercise may include and result in (without limitation) any of the following, or a combination thereof: (i) the reduction of all, or a portion, of the Relevant Amounts in respect of the Notes; (ii) the conversion of all, or a portion, of the Relevant Amounts in respect of the Notes into shares, other securities or other obligations of the Issuer or another person, and the issue to or conferral on the Noteholder of such shares, securities or obligations, including by means of an amendment, modification or variation of the terms of the Notes; (iii) the cancellation of the Notes or the Relevant Amounts in respect of the Notes; and (iv) the amendment or alteration of the maturity of the Notes or amendment of the amount of interest payable on the Notes, or the date(s) on which interest becomes payable, including by suspending payment for a temporary period; and (b) the variation of the terms of the Notes, as deemed necessary by the Relevant Resolution Authority, to give effect to the exercise of any Norwegian Statutory Loss Absorption Powers by the Relevant Resolution Authority.
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CONTRACTUAL RECOGNITION OF NORWEGIAN STATUTORY LOSS ABSORPTION POWERS and the associated definitions shall apply mutatis mutandis to any liabilities of the Issuer to a Relevant Account Holder arising hereunder and Condition 21 (Contractual Recognition of Norwegian Statutory Loss Absorption Powers) shall be construed accordingly.
CONTRACTUAL RECOGNITION OF NORWEGIAN STATUTORY LOSS ABSORPTION POWERS. Notwithstanding and to the exclusion of any other term of the Notes or any other agreements, arrangements or understanding between the Issuer and any Noteholder (which, for the purposes of this Condition 20, includes each holder of a beneficial interest in the Notes), by its acquisition of any Note, each Noteholder acknowledges and accepts that any liability arising under the Notes may be subject to the exercise of Norwegian Statutory Loss Absorption Powers by the Relevant Resolution Authority and acknowledges, accepts, consents to and agrees to be bound by:

Related to CONTRACTUAL RECOGNITION OF NORWEGIAN STATUTORY LOSS ABSORPTION POWERS

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