Fund Events of Default. The Representative at its discretion may, and if so requested in writing by the holders of at least one- fifth of the aggregate Principal Amount Outstanding of the Covered Bonds (which for this purpose and the purpose of any Extraordinary Resolution referred to in this Condition 10.2 means the Covered Bonds of this Series together with the Covered Bonds of any other Series then outstanding) then outstanding as if they were a single Series or if so directed by an Extraordinary Resolution of all the Covered Bondholders shall (subject in each case to being indemnified and/or secured to its satisfaction), give notice (a Fund Acceleration Notice) in writing to the Issuer and the Fund, that (i) each Covered Bond of each Series then outstanding is, and each Covered Bond of each Series then outstanding shall as against the Issuer (if not already due and repayable against the Issuer following service of an Issuer Acceleration Notice), thereupon immediately become, due and repayable at its Early Redemption Amount together with accrued interest (and, if this is an Inflation Linked Annuity Covered Bond, such accrued interest to be adjusted for indexation in accordance with the provisions set out in the applicable Final Terms), and (ii) all amounts payable by the Fund under the Covered Bond Guarantee shall thereupon immediately become due and payable at the Guaranteed Amount corresponding to the Early Redemption Amount for each Covered Bond of each Series then outstanding together with accrued interest (and, if this is an Inflation Linked Annuity Covered Bond, adjusted for indexation in accordance with the provisions set out in the applicable Final Terms), in each case as provided in the Representative and Agency Agreement if any of the following events (each a Fund Event of Default) shall occur and be continuing:
