Common use of Holders to Be Treated as Owners Clause in Contracts

Holders to Be Treated as Owners. The Issuer, the Trustee and any agent of the Issuer or the Trustee may deem and treat the Person in whose name any Security of any series shall be registered upon the Security Register for such series as the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of or on account of the principal of and, subject to the provisions of Section 2.7 of this Indenture, interest, if any, on such Security and for all other purposes; and none of the Issuer, the Trustee and any agent of the Issuer or the Trustee shall be affected by any notice to the contrary. All such payments so made to any such Person, or upon his order, shall be valid, and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for moneys payable upon any such Security. No holder of any beneficial interest in any Global Security held on its behalf by a Depository shall have any rights under this Indenture with respect to such Global Security, and such Depository may be treated by the Issuer, the Trustee, and any agent of the Issuer or the Trustee as the owner of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall impair, as between a Depository and such holders of beneficial interests, the operation of customary practices governing the exercise of the rights of the Depository as holder of any Security.

Holders to Be Treated as Owners. The IssuerRepublic, the Trustee and any agent of the Issuer Republic or the Trustee may deem and treat the any Person in whose name any Debt Security of any series shall be registered upon the Security Register for such series as the absolute owner of such Debt Security (whether or not such Debt Security shall be overdue and notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of or on account of the principal of and, subject to the provisions of Section 2.7 of this Indenture, interest, if any, interest (including Additional Amounts) on such Debt Security and for all other purposes; and none of the IssuerRepublic, the Trustee and or any agent of the Issuer Republic, or the Trustee shall be affected by any notice to the contrary. All such payments so made to any such Person, or upon his order, shall be valid, and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for moneys monies payable upon any such Debt Security. No holder The Republic, the Trustee, any registrar and any paying agent shall be entitled to treat the Depositary as the sole Holder of any beneficial interest in any Global Security held on its behalf by a Depository Securities for all purposes whatsoever. Depositary participants shall have any no rights under this Indenture with respect to any Global Security held on their behalf by a Depositary or nominee of a Depositary or under such Global Security, and such Depository may be treated by the Issuer, the Trustee, and any agent of the Issuer or the Trustee as the owner of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Republic, the Trustee or any agent of the Republic or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depositary or impair, as between a Depository the Depositary and such holders of beneficial interestsits participants, the operation of customary practices of the Depositary governing the exercise of the rights of the Depository as a holder of a beneficial interest in any Global Security.

Holders to Be Treated as Owners. The Issuer, the Trustee and any agent of the Issuer or the Trustee may deem and treat the Person person in whose name any Security of any series shall be registered upon the Security Register for such series as the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of or on account of the principal of andof, and premium, if any, and (subject to the provisions of Section 2.7 of this Indenture, 3.8) interest, if any, on on, such Security Security, and for all other purposes; purposes whatsoever, whether or not such Security be overdue, and none of neither the Issuer, the Trustee and nor any agent of the Issuer or the Trustee shall be affected by any notice to the contrary. All such payments so made to any such Person, or upon his orderHolder for the time being, shall be valid, and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for moneys payable upon any such Security. No holder None of any beneficial interest in any Global Security held on its behalf by a Depository shall have any rights under this Indenture with respect to such Global Security, and such Depository may be treated by the Issuer, the Trustee, and Trustee or any agent of the Issuer or the Trustee as shall have any responsibility or liability for any aspect of the owner records relating to or payments made on account of beneficial ownership interest of a Global Security, or for maintaining, supervising or reviewing any records relating to such Global Security for all purposes whatsoeverbeneficial ownership interest. Notwithstanding the foregoing, with respect to any Global Security, nothing herein shall prevent the Issuer or the Trustee or any agent of the Issuer or the Trustee from giving effect to any written certification, proxy or other authorization furnished by any Depository (or its nominee), as a Holder, with respect to such Global Security or impair, as between a such Depository and such holders owners of beneficial interestsinterests in such Global Security, the operation of customary practices governing the exercise of the rights right of the such Depository (or its nominee) as holder of any such Global Security.

Holders to Be Treated as Owners. The IssuerIRSA, the Trustee Trustee, the Agents and any agent of IRSA, the Issuer Trustee or the Trustee Agents may deem and treat the any Person in whose name any Security of any series shall be registered upon the Security Register for such series as the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of or on account of the principal of and, subject to the provisions of Section 2.7 of this Indenture, interest, if any, interest on such Security (including Additional Amounts) and for all other purposes; and none of the IssuerIRSA, the Trustee Trustee, any Agent and any agent of the Issuer or IRSA, the Trustee or any Agent shall be affected by any notice to the contrary. All such payments so made to any such Person, or upon his its order, shall be valid, and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for moneys payable upon any such Security. No holder of any beneficial interest in any Global Security held on its behalf by a Depository shall have any rights under this Indenture Notwithstanding the foregoing, with respect to any Global Security, nothing herein shall prevent IRSA, the Trustee, the Agents or any agent of IRSA, the Trustee or any Agent, from giving effect to any written certification, proxy or other authorization furnished by any depositary, as Holder of such Global Security, and such Depository may be treated by the Issuer, the Trustee, and any agent of the Issuer or the Trustee as the owner of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall impair, as between a Depository such depositary and such holders owners of beneficial interestsinterests in such Global Security, the operation of customary practices governing the exercise of the rights of the Depository such depositary (or its nominee), as holder Holder of any such Global Security.

Holders to Be Treated as Owners. The IssuerCompany, the Trustee Trustee, the Agents and any agent of the Issuer Company, the Trustee or the Trustee Agents may deem and treat the any Person in whose name any Security of any series Note shall be registered upon the Security Register for such series as the absolute owner of such Security Note (whether or not such Security Note shall be overdue and notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of or on account of the principal of and, subject to the provisions of Section 2.7 of this Indenture, interest, if any, interest on such Security Note (including Additional Amounts) and for all other purposes; and none of the IssuerCompany, the Trustee and Trustee, any Agent or any agent of the Issuer or Company, the Trustee or any Agent shall be affected by any notice to the contrary. All such payments so made to any such Person, or upon his its order, shall be valid, and, to the extent of the sum or sums so paid, effectual effective to satisfy and discharge the liability for moneys payable upon any such Security. No holder of any beneficial interest in any Global Security held on its behalf by a Depository shall have any rights under this Indenture with respect to such Global Security, and such Depository may be treated by the Issuer, the Trustee, and any agent of the Issuer or the Trustee as the owner of such Global Security for all purposes whatsoeverNote. Notwithstanding the foregoing, with respect to any Regulation S Global Note, nothing herein shall prevent the Company, the Trustee, the Agents or any agent of the Company, the Trustee or any Agent, from giving effect to any written certification, proxy or other authorization furnished by any depositary, as Holder of such Regulation S Global Note, or impair, as between a Depository such depositary and such holders owners of beneficial interestsinterests in such Regulation S Global Note, the operation of customary practices governing the exercise of the rights of the Depository such depositary (or its nominee), as holder Holder of any Securitysuch Regulation S Global Note.

Holders to Be Treated as Owners. The Issuer, the Trustee and any agent of the Issuer or the Trustee may deem and treat the Person person in whose name any Security of any series shall be registered upon the Security Register for such series as the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of or on account of the principal of and, subject to the provisions of Section 2.7 of this Indenture, interest, if any, interest on such Security and for all other purposes; and none of neither the Issuer, Issuer nor the Trustee and nor any agent of the Issuer or the Trustee shall be affected by any notice to the contrary. All such payments so made to any such Personperson, or upon his order, shall be valid, and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for moneys payable upon any such Security. No holder Holder of any beneficial interest in any Global Security held on its behalf by a Depository Depositary shall have any rights under this Indenture with respect to such Global Security, and such Depository Depositary may be treated by the Issuer, the Trustee, and any agent of the Issuer or the Trustee as the owner of such Global Security for all purposes whatsoever. Notwithstanding None of the foregoingIssuer, nothing herein shall impairthe Trustee, as between a Depository and such holders any paying agent or the Security Registrar will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests, the operation of customary practices governing the exercise of the rights of the Depository as holder of any Security.

Holders to Be Treated as Owners. The IssuerBank, the Trustee Trustee, the Agents and any agent of the Issuer Bank, the Trustee or the Trustee Agents may deem and treat the any Person in whose name any Security of any series shall be registered upon the Security Register for such series as the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of or on account of the principal of and, subject to the provisions of Section 2.7 of this Indenture, interest, if any, interest on such Security (including Additional Amounts) and for all other purposes; and none of the IssuerBank, the Trustee Trustee, any Agent and any agent of the Issuer or Bank, the Trustee or any Agent shall be affected by any notice to the contrary. All such payments so made to any such Person, or upon his its order, shall be valid, and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for moneys payable upon any such Security. No holder of any beneficial interest in any Global Security held on its behalf by a Depository shall have any rights under this Indenture Notwithstanding the foregoing, with respect to any Global Security, nothing herein shall prevent the Bank, the Trustee, the Agents or any agent of the Bank, the Trustee or any Agent, from giving effect to any written certification, proxy or other authorization furnished by any depositary, as Holder of such Global Security, and such Depository may be treated by the Issuer, the Trustee, and any agent of the Issuer or the Trustee as the owner of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall impair, as between a Depository such depositary and such holders owners of beneficial interestsinterests in such Global Security, the operation of customary practices governing the exercise of the rights of the Depository such depositary (or its nominee), as holder Holder of any such Global Security.

Holders to Be Treated as Owners. The Issuer, the Trustee and any agent of the Issuer or the Trustee may deem and treat the Person person in whose name any Security of any series shall be registered upon the Security Register register for such series as the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of or on account of the principal of and, subject to the provisions of Section 2.7 of this Indenture, interest, if any, interest on such Security and for all other purposes; and none of neither the Issuer, Issuer nor the Trustee and nor any agent of the Issuer or the Trustee shall be affected by any notice to the contrary. All such payments so made to any such Personperson, or upon his order, shall be valid, and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for moneys payable upon any such Security. No holder of any beneficial interest in any Global Security held on its behalf by a Depository shall have any rights under this Indenture with respect to such Global Security, and such Depository may be treated by the Issuer, the Trustee, and any agent of the Issuer or the Trustee as the owner of such Global Security for all purposes whatsoever. Notwithstanding None of the foregoingIssuer, nothing herein shall impairthe Trustee, as between a Depository and such holders any Paying Agent or the registrar will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests, the operation of customary practices governing the exercise of the rights of the Depository as holder of any Security.

Holders to Be Treated as Owners. The IssuerAPSA, the Trustee Trustee, the Agents and any agent of APSA, the Issuer Trustee or the Trustee Agents may deem and treat the any Person in whose name any Security of any series shall be registered upon the Security Register for such series as the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of or on account of the principal of and, subject to the provisions of Section 2.7 of this Indenture, interest, if any, interest on such Security (including Additional Amounts) and for all other purposes; and none of the IssuerAPSA, the Trustee Trustee, any Agent and any agent of the Issuer or APSA, the Trustee or any Agent shall be affected by any notice to the contrary. All such payments so made to any such Person, or upon his its order, shall be valid, and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for moneys payable upon any such Security. No holder of any beneficial interest in any Global Security held on its behalf by a Depository shall have any rights under this Indenture Notwithstanding the foregoing, with respect to any Global Security, nothing herein shall prevent APSA, the Trustee, the Agents or any agent of APSA, the Trustee or any Agent, from giving effect to any written certification, proxy or other authorization furnished by any depositary, as Holder of such Global Security, and such Depository may be treated by the Issuer, the Trustee, and any agent of the Issuer or the Trustee as the owner of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall impair, as between a Depository such depositary and such holders owners of beneficial interestsinterests in such Global Security, the operation of customary practices governing the exercise of the rights of the Depository such depositary (or its nominee), as holder Holder of any such Global Security.

Holders to Be Treated as Owners. The Issuer, the Trustee and ------------------------------- any agent of the Issuer or the Trustee may deem and treat the Person person in whose name any Security of any series shall be registered upon the Security Register register for such series as the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of or on account of the principal of and, subject to the provisions of Section 2.7 of this Indenture, interest, if any, interest on such Security and for all other purposes; and none of neither the Issuer, Issuer nor the Trustee and nor any agent of the Issuer or the Trustee shall be affected by any notice to the contrary. All such payments so made to any such Person, or upon his order, shall be valid, and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for moneys payable upon any such Security. No holder of any beneficial interest in any Registered Global Security held on its behalf by a Depository Depositary (or its nominee) shall have any rights under this Indenture with respect to such Registered Global SecuritySecurity or any Security represented thereby, and such Depository Depositary may be treated by the Issuer, the Trustee, and any agent of the Issuer or the Trustee as the owner of such Registered Global Security or any Security represented thereby for all purposes whatsoever. Notwithstanding None of the foregoingIssuer, nothing herein shall impairthe Trustee, as between a Depository and such holders any Paying Agent or the Security Registrar will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Registered Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests, the operation of customary practices governing the exercise of the rights of the Depository as holder of any Security.

Holders to Be Treated as Owners. The Issuer, the Trustee and any agent of the Issuer or the Trustee may deem and treat the Person person in whose name any Security of any series shall be registered upon the Security Register register for such series as the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of or on account of the principal of and, subject to the provisions of Section 2.7 of this Indenture, interest, if any, interest on such Security and for all other purposes; and none of neither the Issuer, Issuer nor the Trustee and nor any agent of the Issuer or the Trustee shall be affected by any notice to the contrary. All such payments so made to any such Person, or upon his order, shall be valid, and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for moneys payable upon any such Security. No holder of any beneficial interest in any Registered Global Security held on its behalf by a Depository Depositary (or its nominee) shall have any rights under this Indenture with respect to such Registered Global SecuritySecurity or any Security represented thereby, and such Depository Depositary may be treated by the Issuer, the Trustee, and any agent of the Issuer or the Trustee as the owner of such Registered Global Security or any Security represented thereby for all purposes whatsoever. Notwithstanding None of the foregoingIssuer, nothing herein shall impairthe Trustee, as between a Depository and such holders any Paying Agent or the Security Registrar will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Registered Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests, the operation of customary practices governing the exercise of the rights of the Depository as holder of any Security.

Holders to Be Treated as Owners. (a) The IssuerProvince, the Trustee Trustee, any Paying Agent and any agent of the Issuer Province or the Trustee may deem and treat the any Person in whose name any Security of any series Debt Securities shall be registered upon the Security Register for such series as the absolute owner of such Debt Security (whether or not such Debt Security shall be overdue and notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of or on account of the principal of and, subject to the provisions of Section 2.7 of this Indenture, interest, if any, interest on such Debt Security and for all other purposes; and none of the IssuerProvince, the Trustee and Trustee, any Paying Agent or any agent of the Issuer Province or the Trustee shall be affected by any notice to the contrary. All such payments so made to any such Person, or upon his order, shall be valid, and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for moneys monies payable upon any such Debt Security. No holder . (b) The Province expressly acknowledges, with respect to the right of any Holder to pursue a remedy under this Indenture or the Debt Securities, the right of any beneficial interest in any Global Security held on its behalf by a Depository shall have any rights under this Indenture owner of Debt Securities to pursue such remedy with respect to such Global Security, and such Depository may be treated by the Issuer, the Trustee, and any agent portion of the Issuer or the Trustee as the owner of such Regulation S Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall impair, that represents such beneficial owner’s interest as between a Depository and if certificated securities had been issued to such holders of beneficial interests, the operation of customary practices governing the exercise of the rights of the Depository as holder of any Securityowner.

Holders to Be Treated as Owners. The Issuer, the Trustee and any agent of the Issuer or the Trustee may deem and treat the Person in whose name any Security of any series shall be registered upon the Security Register for such series as the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of or on account of the principal of andof, and premium, if any, and (subject to the provisions of Section 2.7 of this Indenture, 3.8) interest, if any, on on, such Security Security, and for all other purposes; purposes whatsoever, whether or not such Security be overdue, and none of neither the Issuer, the Trustee and nor any agent of the Issuer or the Trustee shall be affected by any notice to the contrary. All such payments so made to any such Person, or upon his orderHolder for the time being, shall be valid, and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for moneys payable upon any such Security. No holder None of any beneficial interest in any Global Security held on its behalf by a Depository shall have any rights under this Indenture with respect to such Global Security, and such Depository may be treated by the Issuer, the Trustee, and Trustee or any agent of the Issuer or the Trustee as shall have any responsibility or liability for any aspect of the owner records relating to or payments made on account of beneficial ownership interest of a Global Security, or for maintaining, supervising or reviewing any records relating to such Global Security for all purposes whatsoeverbeneficial ownership interest. Notwithstanding the foregoing, with respect to any Global Security, nothing herein shall prevent the Issuer or the Trustee or any agent of the Issuer or the Trustee from giving effect to any written certification, proxy or other authorization furnished by any Depository (or its nominee), as a Holder, with respect to such Global Security or impair, as between a such Depository and such holders owners of beneficial interestsinterests in such Global Security, the operation of customary practices governing the exercise of the rights right of the such Depository (or its nominee) as holder of any such Global Security.