Common use of EXCHANGE FOR CLASS C INDIVIDUAL NOTE CERTIFICATES Clause in Contracts

EXCHANGE FOR CLASS C INDIVIDUAL NOTE CERTIFICATES. This Class C Global Note Certificate will be exchanged in whole (but not in part) for duly authenticated and completed individual note certificates ("CLASS C INDIVIDUAL NOTE CERTIFICATES") in substantially the form (subject to completion) set out in the Sixth Schedule (Form of Class C Individual Note Certificate) to the Trust Deed if any of the following events occurs: (a) the Notes become immediately due and repayable by reason of an Event of Default; or (b) DTC at any time notifies the Issuer that it is at any time unwilling or unable to hold the Global Note Certificates or is unwilling or unable to continue as or has ceased to be, a clearing agency registered under the United States Securities and Exchange Act of 1934 and in each case the Issuer is unable to locate a qualified successor within 90 days of receiving such notification; Such exchange shall be effected in accordance with paragraph 7 (Delivery of Class C Individual Note Certificates) below. The Issuer shall notify the Holder of the occurrence of any of the events specified in paragraph (a) and (b) above as soon as practicable thereafter.

Appears in 7 contracts

Samples: Trust Deed (Gracechurch Card Funding No 2 PLC), Trust Deed (Gracechurch Receivables Trustee LTD), Trust Deed (Barclaycard Funding PLC)

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EXCHANGE FOR CLASS C INDIVIDUAL NOTE CERTIFICATES. This Class C Global Note Certificate will be exchanged in whole (but not in part) for duly authenticated and completed individual note certificates ("CLASS Class C INDIVIDUAL NOTE CERTIFICATESIndividual Note Certificates") in substantially the form (subject to completion) set out in the Sixth Eighth Schedule (Form of Class C Individual Note Certificate) to the Trust Deed if any of the following events occurs: (a) the Notes become immediately due and repayable by reason of an Event of Default; or (b) DTC at any time notifies the Issuer that it is at any time unwilling or unable to hold the Global Note Certificates or is unwilling or unable to continue as or has ceased to be, a clearing agency registered under the United States Securities and Exchange Act of 1934 and in each case the Issuer is unable to locate a qualified successor within 90 days of receiving such notification; Such exchange shall be effected in accordance with paragraph 7 (Delivery of Class C Individual Note Certificates) below. The Issuer shall notify the Holder of the occurrence of any of the events specified in paragraph (a) and (b) above as soon as practicable thereafter.

Appears in 1 contract

Samples: Trust Deed (Gracechurch Card Funding No 5 PLC)

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EXCHANGE FOR CLASS C INDIVIDUAL NOTE CERTIFICATES. This Class C Global Note Certificate will be exchanged in whole (but not in part) for duly authenticated and completed individual note certificates ("CLASS C INDIVIDUAL NOTE CERTIFICATES") in substantially the form (subject to completion) set out in the Sixth Eigth Schedule (Form of Class C Individual Note Certificate) to the Trust Deed if any of the following events occurs: (a) the Notes become immediately due and repayable by reason of an Event of Default; or (b) DTC at any time notifies the Issuer that it is at any time unwilling or unable to hold the Global Note Certificates or is unwilling or unable to continue as or has ceased to be, a clearing agency registered under the United States Securities and Exchange Act of 1934 and in each case the Issuer is unable to locate a qualified successor within 90 days of receiving such notification; Such exchange shall be effected in accordance with paragraph 7 (Delivery of Class C Individual Note Certificates) below. The Issuer shall notify the Holder of the occurrence of any of the events specified in paragraph (a) and (b) above as soon as practicable thereafter.

Appears in 1 contract

Samples: Trust Deed (Barclaycard Funding PLC)

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