Direct Rights. Each Relevant Account Holder shall at the Relevant Time acquire against the Issuer all rights which the Relevant Account Holder in question would have had if, immediately before the Relevant Time, it had been the holder of the Definitive Certificates issued on the issue date of this Global Certificate in an aggregate principal amount equal to the Principal Amount of the relevant Entry including, without limitation, the right to receive all payments due at any time in respect of such Definitive Certificates, other than payments corresponding to any already made under this Global Certificate. No further action shall be required on the part of any person in order for such Direct Rights to be acquired and for each Relevant Account Holder to have the benefit of, and to enforce, rights corresponding to all the provisions of relevant Definitive Certificates as if they had been issued and as if such provisions had been specifically incorporated in this Schedule, other than the right to receive payments corresponding to any already made under this Global Certificate.
Direct Rights for the Accountholders to enjoy the Direct Rights; or
Direct Rights. 2.1 The Company hereby covenants with and in favour of each Rights Holder to perform the Company's obligations under the Rights Agreement, and each Rights Holder shall have against the Company the right (the "Direct Rights") to enforce the provisions of the Rights Agreement in accordance with the terms of the Rights Agreement.
2.2 No further action shall be required on the part of the Company or any other person for the Rights Holders to enjoy the Direct Rights.
Direct Rights. Each Relevant Account Holder shall at the Relevant Time acquire against Macedonia all rights which the Relevant Account Holder in question would have had if, immediately before the Relevant Time, it had been the holder of the Definitive Notes issued on the issue date of this Global Note in an aggregate principal amount equal to the Principal Amount of the relevant Entry including, without limitation, the right to receive all payments due at any time in respect of such Definitive Notes, other than payments corresponding to any already made under this Global Note. No further action shall be required on the part of any person in order for such Direct Rights to be acquired and for each Relevant Account Holder to have the benefit of, and to enforce, rights corresponding to all the provisions of the relevant Definitive Notes as if they had been issued and as if such provisions had been specifically incorporated in this Schedule, other than the right to receive payments corresponding to any already made under this Global Note.
Direct Rights. If a Global Certificate becomes void in accordance with clause 10.1:
(a) the bearer of the Global Certificate shall have no further rights in respect thereof. In such event, each Conventional MTNholder shall acquire against the Issuer all rights (“Direct Rights”) which it would have had if, immediately before the time at which the Global Certificate becomes void, it had been the holder of Definitive MTNs in an aggregate amount equal to that of its interest in such Global Certificate including without limitation the right to receive all payments due at any time in respect of such Definitive MTNs other than payments corresponding to any sum already made under the Global Certificate;
(b) no further action shall be required on the part of any person in order for Direct Rights to be acquired as contemplated by sub-clause 10.2(a) above and for each Conventional MTNholder to have the benefit of, and to enforce, rights corresponding to all the provisions of the terms and conditions of the relevant Definitive MTNs;
(c) any list of ADIs provided by the Central Depository (in the case of an ADI’s Own Securities Account) and by those ADIs (in the case of an ADI’s Aggregate Customers’ Securities Account), stating as at a particular time:
(i) the name of the ADIs;
(ii) the entries in the Own Securities Account and Aggregate Customers’ Securities Account of such ADI with the Central Depository as at that time; and
(iii) the principal amount of Conventional MTNs the entitlement to which is recorded in such accounts of the Central Depository (in the case of an ADI’s Own Securities Account) and in the accounts of the ADI (in the case of an ADI’s Aggregate Customers’ Securities Account), shall, in the absence of manifest error, be conclusive evidence o f the identity and entitlements of the Conventional MTNholders at that time;
(d) subject to Condition 9.2, any Conventional MTNholder may enforce its rights arising out of this Deed in respect of any entry to which it is entitled in its own name without the necessity of using the name of or obtaining any authority from any predecessor in title;
(e) any Conventional MTNholder is entitled to receive payment of the Nominal Value of the Conventional MTNs the entitlement to which is recorded in the records mentioned in clause 10.2(c) and of all other sums referable to its Direct Rights to the exclusion of any other person and payment in full by the Issuer for the account of such Conventional MTNholder in accordance with these prese...
Direct Rights. 3.1 If any Global Instrument becomes void in accordance with its terms, each Accountholder shall have against the Issuer all rights ("Direct Rights") which such Accountholder would have had in respect of the Instruments if, immediately before the Determination Date, it had been the Holder of a Definitive Instrument, duly completed, executed, authenticated and issued, in an aggregate principal amount equal to the Principal Amount of such Accountholder's Entries relating to such Global Instrument including, (without limitation) the right to receive all payments due at any time in respect of the Instruments represented by such Definitive Instrument as if such Definitive Instrument had (where required by the Conditions) been duly presented and (where required by the Conditions) surrendered on the due date in accordance with the Conditions.
3.2 No further action shall be required on the part of the Issuer or any other person:
(a) for the Accountholders to enjoy the Direct Rights; and
(b) for each Accountholder to have the benefit of the Conditions as if they had been incorporated mutatis mutandis into this Deed of Covenant;
Direct Rights. The Parties agree that this Agreement irrevocably constitutes in favour of each Beneficiary the right, if and when a Global Note becomes void in accordance with the terms thereof, to exercise against the Issuer the Direct Rights applicable to such Beneficiary and such Global Note. The Issuer agrees that such Direct Rights shall, by virtue of this Agreement, be automatically acquired by each such Beneficiary immediately upon the relevant Global Note becoming void, without any need for any further action by any person. Accordingly, each Beneficiary shall be able and entitled severally to enforce against the Issuer all rights which the Beneficiary in question would have had against the Issuer if, immediately before the applicable Relevant Time, Definitive Notes had been issued to the Beneficiary by the Issuer in exchange for the Beneficiary’s interest in the relevant Global Note as evidenced by the relevant Entry at the applicable Relevant Time, including, without limitation, rights to receive principal of, any interest on, and the benefit of any other obligations pursuant to, such Definitive Notes, and such Definitive Notes would have been in the physical possession of that Beneficiary.
Direct Rights. 2.1 Creation
2.1.1 If any Global Note representing all or part of a Tranche of Notes issued by Mediobanca becomes void in accordance with its terms, each Accountholder shall have against Mediobanca all rights (“Direct Rights”) which such Accountholder would have had in respect of such Notes if immediately before the Determination Date in relation to that Global Note, it had been the Holder of Definitive Notes of that Tranche, duly executed, authenticated and issued, in an aggregate principal amount equal to the Principal Amount of such Accountholder's Entries relating to such Global Note including (without limitation) the right to receive all payments due at any time in respect of such Definitive Notes as if such Definitive Notes had (where required by the Conditions) been duly presented and (where required by the Conditions) surrendered on the due date in accordance with the Conditions.
1.1 but without prejudice to its effectiveness for any other purpose.
2.1.2 With respect to Dematerialised Instruments, if a Relevant Event occurs, each Accountholder as at the Determination Date shall have against Mediobanca all rights (“Direct Rights”) which such Accountholder would have had in respect of such Notes if immediately before the Determination Date, it had been the Holder of Definitive Notes of that Tranche of Notes, duly executed, authenticated and issued, in an aggregate principal amount equal to the Principal Amount of such Accountholder's Entries relating to such Tranche of Notes including (without limitation) the right to receive all payments due at any time in respect of such Definitive Notes as if such Definitive Notes had (where required by the Conditions) been duly presented and (where required by the Conditions) surrendered on the due date in accordance with the Conditions. In such circumstances, anything which might prevent the issuance of Definitive Notes in an aggregate principal amount equal to the Principal Amount of any Entry of any Accountholder shall be disregarded for the purposes of this sub-clause 2.1.2 but without prejudice to its effectiveness for any other purpose.
Direct Rights. 3.1 If any Global Note becomes void in accordance with its terms, each Accountholder shall have against the relevant Issuer all rights ("Direct Rights") which such Accountholder would have had in respect of the Notes if, immediately before the Determination Date, it had been the holder of Definitive Note(s), duly completed, executed, authenticated and issued, in an aggregate nominal amount equal to the Principal Amount of such Accountholder's Entries relating to such Global Note including (without limitation) the right to receive all payments due at any time in respect of the Notes represented by such Definitive Note(s) as if such Definitive Note(s) had (where required by the Conditions) been duly presented and (where required by the Conditions) surrendered on the due date in accordance with the Conditions.
3.2 No further action shall be required on the part of the relevant Issuer or any other person:
(a) for the Accountholders to enjoy the Direct Rights; and
(b) for each Accountholder to have the benefit of the Conditions as if they had been incorporated mutatis mutandis into this Deed of Covenant;
Direct Rights. Each Relevant Account Holder shall at the Relevant Time acquire against the Issuer all rights which the Relevant Account Holder in question would have had if, immediately before the Relevant Time, it had been the holder of the definitive Notes issued on the issue date of this temporary Global Note in an aggregate principal amount equal to the Principal Amount of the relevant Entry including, without limitation, the right to receive all payments due at any time in respect of such definitive Notes, other than payments corresponding to any payment already made under this temporary Global Note. Other than as contemplated in Section 8 of this temporary Global Note, no further action shall be required on the part of any person in order for such Direct Rights to be acquired and for each Relevant Account Holder to have the benefit of, and to enforce, rights corresponding to all the provisions of relevant
