Common use of EXPIRY OF THE TRUSTEE'S OFFICE Clause in Contracts

EXPIRY OF THE TRUSTEE'S OFFICE. 25.1 The provisions of the Law shall apply to the office of the Trustee and the expiry thereof, and to the appointment of a new trustee. 25.2 The Trustee may resign from its office at any time it wishes to do so after giving a written notice to the Company, three (3) months in advance, specifying the reasons for the resignation. The Trustee's resignation shall have no validity unless approved by a court, and only from the date designated therefore in the court's approval as aforesaid. In the event that the Bonds are listed for trading on the Stock Exchange - the Securities Authority may apply to the court to terminate the office of the Trustee, pursuant to Section 35.N. of the Securities Law. The Trustee's office shall terminate where it turns out that it is prevented from continuing in its office, in the wake of a change in the provisions of the Law or the applicable law in respect of capacity to serve as trustee, including where such impediment is created in connection with the listing of the Bonds for trading on the Stock Exchange. In this context, a demand by the Securities Authority to terminate the Trustee's office shall also be deemed as "impediment". In such event a new Trustee shall be appointed as proposed by the Company, in accordance with a resolution of the meeting of the Bondholders in a resolution to be adopted with the required majority as set forth in subsection 25.3 below. The Company shall publish an immediate report of any such event with respect to the office of the Trustee and/or the termination thereof as aforesaid. 25.3 Holders of ten percent (10%) of the par value of the unsettled balance of the principal of the Bonds may convene a general meeting of the Bondholders and it may decide, in accordance with the vote of holders of at least fifty percent (50%) of such balance, or their proxies, on the dismissal of the Trustee from its office. 25.4 In the event of expiry of the Trustee's office, the court may appoint another Trustee, for such period and at such terms as it finds fit. The Trustee whose office has expired shall continue to serve in its office up to the appointment of another Trustee. 25.5 Each new Trustee shall have such powers, authorizations and other authorities as the Trustee whose office has expired, and it may act, in all respects, as if it has been appointed as Trustee from the outset. 25.6 Any appointment of a new Trustee, other than a trust company of a bank in Israel, put to the approval of the meeting of the Bondholders, shall require the Company to provide, on the date of the convening of the meeting, details of its equity and insurance arrangements with respect to the fulfillment of its capacity as trustee for the Bondholders. 25.7 If the Trustee's office has expired and/or the Trustee has been dismissed from its office, the Trustee shall not be entitled to payment of its fee as of the date of expiry of its office and/or dismissal from its office. In the event of payment of an annual fee, the Trustee shall refund the fee paid for the months in which it has not served as Trustee for the Company.

EXPIRY OF THE TRUSTEE'S OFFICE. 25.1 The provisions of the Law shall apply to the office of the Trustee and the expiry thereof, and to the appointment of a new trustee. 25.2 The Trustee may resign from its office at any time it wishes to do so after giving a written notice to the Company, three (3) months in advance, specifying the reasons for the resignation. The Trustee's resignation shall have no validity unless approved by a court, and only from the date designated therefore in the court's approval as aforesaid. In the event that the Bonds are listed for trading on the Stock Exchange - the The Securities Authority may apply to the court to terminate the office of the Trustee, pursuant to Section 35.N. of the Securities Law. The Trustee's office shall terminate where it turns out that it is prevented from continuing in its office, in the wake of a change in the provisions of the Law or the applicable law in respect of capacity to serve as trustee, including where such impediment is created in connection with the listing of the Bonds for trading on the Stock Exchange. In this context, a demand by the Securities Authority to terminate the Trustee's office shall also be deemed as "impediment". In such event a new Trustee shall be appointed as proposed by the Company, in accordance with a resolution of the meeting of the Bondholders in a resolution to be adopted with the required majority as set forth in subsection 25.3 below. The Company shall publish an immediate report of any such event with respect to the office of the Trustee and/or the termination thereof as aforesaid. 25.3 Holders of ten percent (10%) of the par value of the unsettled balance of the principal of the Bonds may convene a general meeting of the Bondholders and it may decide, in accordance with the vote of holders of at least fifty percent (50%) of such balance, or their proxies, on the dismissal of the Trustee from its office. 25.4 In the event of expiry of the Trustee's office, the court may appoint another Trustee, for such period and at such terms as it finds fit. The Trustee whose office has expired shall continue to serve in its office up to the appointment of another Trustee. 25.5 Each new Trustee shall have such powers, authorizations and other authorities as the Trustee whose office has expired, and it may act, in all respects, as if it has been appointed as Trustee from the outset. 25.6 Any appointment of a new Trustee, other than a trust company of a bank in Israel, put to the approval of the meeting of the Bondholders, shall require the Company to provide, on the date of the convening of the meeting, details of its equity and insurance arrangements with respect to the fulfillment of its capacity as trustee for the Bondholders. 25.7 If the Trustee's office has expired and/or the Trustee has been dismissed from its office, the Trustee shall not be entitled to payment of its fee as of the date of expiry of its office and/or dismissal from its office. In the event of payment of an annual fee, the Trustee shall refund the fee paid for the months in which it has not served as Trustee for the Company.

EXPIRY OF THE TRUSTEE'S OFFICE. 25.1 The provisions of the Law shall apply to the office of the Trustee and the expiry thereof, and to the appointment of a new trustee. 25.2 The Trustee may resign from its office at any time it wishes to do so after giving a written notice to the Company, three (3) months in advance, specifying the reasons for the resignation. The Trustee's ’s resignation shall have no validity unless approved by a court, and only from the date designated therefore in the court's ’s approval as aforesaid. In the event that the Bonds are listed for trading on the Stock Exchange - – the Securities Authority may apply to the court to terminate the office of the Trustee, pursuant to Section 35.N. of the Securities Law. The Trustee's ’s office shall terminate where it turns out that it is prevented from continuing in its office, in the wake of a change in the provisions of the Law or the applicable law in respect of capacity to serve as trustee, including where such impediment is created in connection with the listing of the Bonds for trading on the Stock Exchange. In this context, a demand by the Securities Authority to terminate the Trustee's ’s office shall also be deemed as "“impediment"”. In such event a new Trustee shall be appointed as proposed by the Company, in accordance with a resolution of the meeting of the Bondholders in a resolution to be adopted with the required majority as set forth in subsection 25.3 below. The Company shall publish an immediate report of any such event with respect to the office of the Trustee and/or the termination thereof as aforesaid. 25.3 Holders of ten percent (10%) of the par value of the unsettled balance of the principal of the Bonds may convene a general meeting of the Bondholders and it may decide, in accordance with the vote of holders of at least fifty percent (50%) of such balance, or their proxies, on the dismissal of the Trustee from its office. 25.4 In the event of expiry of the Trustee's ’s office, the court may appoint another Trustee, for such period and at such terms as it finds fit. The Trustee whose office has expired shall continue to serve in its office up to the appointment of another Trustee. 25.5 Each new Trustee shall have such powers, authorizations and other authorities as the Trustee whose office has expired, and it may act, in all respects, as if it has been appointed as Trustee from the outset. 25.6 Any appointment of a new Trustee, other than a trust company of a bank in Israel, put to the approval of the meeting of the Bondholders, shall require the Company to provide, on the date of the convening of the meeting, details of its equity and insurance arrangements with respect to the fulfillment of its capacity as trustee for the Bondholders. 25.7 If the Trustee's ’s office has expired and/or the Trustee has been dismissed from its office, the Trustee shall not be entitled to payment of its fee as of the date of expiry of its office and/or dismissal from its office. In the event of payment of an annual fee, the Trustee shall refund the fee paid for the months in which it has not served as Trustee for the Company.

EXPIRY OF THE TRUSTEE'S OFFICE. 25.1 The provisions of the Law shall apply to the office of the Trustee and the expiry thereof, thereof and to the appointment of a new trustee. 25.2 The Trustee may resign from its office at any time it wishes to do so after giving a written notice to the Company, Company three (3) months in advance, specifying the reasons for the resignation. The Trustee's ’s resignation shall have no validity force unless approved by a court, and only from the date designated therefore therefor in the court's ’s approval as aforesaid. In the event that the Bonds are listed for trading on the Stock Exchange - the The Securities Authority may apply to the court to terminate the office of the Trustee, pursuant to Section 35.N. of the Securities Law. The Trustee's ’s office shall terminate where it turns out that it is prevented from continuing in its office, in the wake of a change in the provisions of the Law or the applicable law in respect of capacity to serve as trustee, including where such impediment is created in connection with the listing of the Bonds for trading on the Stock Exchange. In this context, a demand by the Securities Authority to terminate the Trustee's office shall also be deemed as "impediment". In such event event, a new Trustee shall be appointed appointed, as proposed by the Company, in accordance with a resolution of the meeting of the Bondholders Noteholders, in a resolution to be adopted with the required majority as set forth in subsection 25.3 below. The Company shall publish an immediate report of any such event with respect to the office of the Trustee and/or the termination thereof as aforesaid. 25.3 Holders of ten percent (10%) of the par value of the unsettled balance of the principal of the Bonds Notes may convene a general meeting of the Bondholders Noteholders and it may decide, in accordance with the vote of holders of at least fifty percent (50%) of such balance, or their proxies, on the dismissal of the Trustee from its office. 25.4 In the event of expiry of the Trustee's ’s office, the court may appoint another Trustee, for such period and at such terms as it finds fit. The Trustee whose office has expired expired, shall continue to serve in its office office, up to the appointment of another Trustee. 25.5 Each new Trustee shall have such powers, authorizations and other authorities as the Trustee whose office has expired, and it may act, in all respects, as if it has been appointed as Trustee from the outset. 25.6 Any appointment of a new Trustee, other than a trust company of a bank in Israel, put to the approval of the meeting of the Bondholders, shall require the Company to provide, on the date of the convening of the meeting, details of its equity and insurance arrangements with respect to the fulfillment of its capacity as trustee for the Bondholders. 25.7 If the Trustee's ’s office has expired and/or the Trustee has been dismissed from its office, the Trustee shall not be entitled to payment of its fee as of the date of expiry of its office and/or dismissal from its office. In the event of payment of an annual fee, the Trustee shall refund the fee paid for the months in which it has not served as Trustee for the Company.