Direct Rights Sample Clauses

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 Bonds issued on the issue date of this Global Bond 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 Bonds, other than payments corresponding to any already made under this Global Bond. 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 Bonds 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 Bond.

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 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 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. 2.1 If circumstances arise that would give the bearer of any Global Note the right to exchange that Global Note for Definitive Notes in accordance with the terms of such Global Note, each Relevant Account Holder shall have against the Issuer all rights in respect of the Debt (Direct Rights) which such Relevant Account Holder would have had under the Notes if, immediately before the Relevant Date, it had been the holder of Definitive Notes, duly executed, authenticated and issued in respect of each Underlying 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 been duly presented and (in the case of final redemption of a Definitive Note) surrendered on the due date in accordance with the terms of such Note, provided that such Direct Rights shall cease to exist if the Issuer makes payment of the full amount due under the Debt or any interest due thereon to the bearer of the Global Note in accordance with the terms thereof. 2.2 No further action shall be required on the part of the Issuer or any other person for the Relevant Account Holders to enjoy the Direct Rights or for each Relevant Account Holder to have the benefit of the terms and conditions of the Notes represented by the Global Note as if they had been incorporated mutatis mutandis into this Deed provided that nothing herein shall entitle any Relevant Account Holder to receive any payment in respect of the relevant Global Note which has already been made. 2.3 There shall be treated as incorporated into this Deed and with respect to the Direct Rights and any sums payable in relation thereto, all those provisions of the Notes represented by the relevant Global Note (immediately before it became void) relating to the amount of any sum payable by the Issuer or the time and manner in which any such amount should be paid (including, without limitation, any grossing-up provision in any Global Note) but as if references in such provisions to (a) any Note or to any principal of, or other amount payable on, any Note were references to the Direct Rights or to sums payable with respect to the Direct Rights and (b) any holder of any Note were references to the applicable Relevant Account Holder.

Direct Rights for the Accountholders to enjoy the Direct Rights; or

Direct Rights. 2.1 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 Policy Holders to enjoy the Direct Rights.

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. 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. 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. 3.1 If at any time the bearer of any Global Note ceases to have rights under it 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 Relevant Time, it had been the Holder of (a) Definitive Note(s), 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 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 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. If principal in respect of any Notes is not paid when due and payable (but subject as provided below), the holder of this Unrestricted Global Certificate may from time to time elect that Direct Rights under the provisions of (and as defined in) the Deed of Covenant (as supplemented and/or amended as at the Issue Date, the “Deed of Covenant”) executed by the Issuer as of 19 August 2020 (a copy of which is available for inspection at the specified office of the Fiscal Agent and which the Issuer acknowledges to apply to the Notes evidenced by this Unrestricted Global Certificate) shall come into effect. Such election shall be made by notice to the Fiscal Agent and by surrendering this Unrestricted Global Certificate to or to the order of the Fiscal Agent for reduction of the principal amount of Notes represented by this Restricted Global Certificate to [Specified Currency] zero (or to such other figure as shall be specified in the notice) by entry in the Register and endorsement in Part I of the Second Schedule hereto and the corresponding endorsement in Part II of the Second Schedule hereto of such principal amount of Notes formerly represented hereby as the principal amount of Notes in respect of which Direct Rights have arisen under the Deed of Covenant. Upon such notice being given the appropriate Direct Rights shall take effect. No such election may however be made on or before an Exchange Date fixed in accordance with this Unrestricted Global Certificate with respect to the Notes to which that Exchange Date relates unless the holder elects in such notice that the exchange in question shall no longer take place.