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

Holders to Be Treated as Owners. The Company, the Trustee and any agent of the Company or the Trustee may deem and treat the Person in whose name any Security shall be registered upon the Security Register as the absolute owner of such Security (notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of principal of, and premium, if any, and (subject to Section 3.5 and Section 3.7) interest, if any, on, such Security, and for all other purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. All such payments so made to any Holder 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 such Security. None of the Company, the Trustee or any agent of the Company or the Trustee shall have any responsibility or liability for any aspect of the 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 beneficial ownership interest. Notwithstanding the foregoing, with respect to any Global Security, nothing herein shall prevent the Company or the Trustee or any agent of the Company 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 such Depository and owners of beneficial interests in such Global Security, the operation of customary practices governing the exercise of the right of such Depository (or its nominee) as Holder of such Global Security.

Holders to Be Treated as Owners. The CompanySubject to the rights of the relevant Holders as of a Regular Record Date to receive payments to which they are entitled on the relevant Interest Payment Date and ‎Section 2.9, IRSA PC, the Trustee Trustee, the Agents and any agent of IRSA PC, the Company Trustee or the Trustee Agents may deem and treat the any Person in whose name any Security shall be registered upon the Security Register 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 ofof and, and premium, if any, and (subject to Section 3.5 and Section 3.7the provisions of this Indenture, interest on such Security (including Additional Amounts) interest, if any, on, such Security, and for all other purposes whatsoeverpurposes; and none of IRSA PC, whether or not such Security be overduethe Trustee, any Agent and neither the Companyany agent of IRSA PC, the Trustee nor or any agent of the Company or the Trustee Agent shall be affected by any notice to the contrary. All such payments so made to any Holder for the time beingsuch Person, or upon 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. None of the Company, the Trustee or any agent of the Company or the Trustee shall have any responsibility or liability for any aspect of the 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 beneficial ownership interest. Notwithstanding the foregoing, with respect to any Global Security, nothing herein shall prevent IRSA PC, the Company Trustee, the Agents or any agent of IRSA PC, the Trustee or any agent of the Company or the Trustee Agent, from giving effect to any written certification, proxy or other authorization furnished by any Depository (or its nominee)Depositary, as a Holder, with respect to Holder of such Global Security Security, or impair, as between such Depository Depositary and owners of beneficial interests in such Global Security, the operation of customary practices governing the exercise of the right rights of such Depository Depositary (or its nominee) ), as Holder of such Global Security.

Holders to Be Treated as Owners. (a) The CompanyRepublic, the Trustee and any agent of the Company Republic, Bank Indonesia or the Trustee may deem and treat the any Person in whose name any Debt Security shall be registered upon the Security Register 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 ofof and, and premium, if any, and (subject to Section 3.5 and Section 3.7the provisions of this Indenture, interest (including Additional Amounts) interest, if any, on, on such Security, Debt Security and for all other purposes whatsoeverpurposes; and none of the Republic, whether or not such Security be overdue, and neither the CompanyBank Indonesia, the Trustee nor Trustee, any agent of the Company Republic, Bank Indonesia, or the Trustee shall be affected by any notice to the contrary. All such payments so made to any Holder for the time beingsuch 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. None The Republic, Bank Indonesia, the Trustee, any registrar or other agents of the CompanyRepublic, Bank Indonesia or the Trustee shall be entitled to treat the Depositary as the sole Holder of Global Securities for all purposes whatsoever. Participants shall have 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. Notwithstanding the foregoing, nothing herein shall prevent the Republic, Bank Indonesia, the Trustee or any agent of the Company or the Trustee shall have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interest of a Global SecurityRepublic, or for maintaining, supervising or reviewing any records relating to such beneficial ownership interest. Notwithstanding the foregoing, with respect to any Global Security, nothing herein shall prevent the Company or the Trustee or any agent of the Company Bank Indonesia 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 the Depositary or impair, as between such Depository the Depositary and owners of beneficial interests in such Global Securityits Participants, the operation of customary practices of the Depositary governing the exercise of the right rights of a holder of a beneficial interest in any Global Security. (b) None of the Republic, Bank Indonesia, the Trustee, any registrar or any agent of the Republic or the Trustee shall have any responsibility or obligation to any beneficial owner in a Global Security, or Participant or other Person with respect to the accuracy of the records of the Depositary or its nominee or common depositary or any Participant, with respect to any ownership interest in the Debt Securities or with respect to the delivery to any Participant, beneficial owner or other Person (other than the Depositary or its nominee or common depositary) of any notice (including any notice of redemption) or the payment of any amount, under or with respect to such Debt Securities. All notices and communications to be given to the Holders and all payments to be made to Holders under the Debt Securities and this Indenture shall be given or made only to or upon the order of the registered holders (which shall be the Depositary or its nominee or common depositary in the case of the Global Security). The rights of beneficial owners in the Global Security shall be exercised only through the Depositary or its nominee or common depositary subject to the applicable procedures. The Republic, Bank Indonesia, the Trustee, any registrar and any agent of the Republic, Bank Indonesia or the Trustee shall be entitled to rely and shall be fully protected in relying upon information furnished by the Depositary or its nominee or common depositary with respect to its members, participants and any beneficial owners. The Republic, Bank Indonesia, the Trustee, any registrar and any agent of the Republic, Bank Indonesia or the Trustee shall be entitled to deal with the Depositary or its nominee or common depositary, that is the registered holder of any Global Security for all purposes of this Indenture relating to such Global Security (including the payment of principal, premium, if any, and interest and Additional Amounts, if any, and the giving of instructions or directions by or to the owner or holder of a beneficial ownership interest in such Global Security) as the sole holder of such Depository (Global Security and shall have no obligations to the beneficial owners thereof. None of the Republic, Bank Indonesia, the Trustee, any registrar or any agent of the Republic, Bank Indonesia or the Trustee shall have any responsibility or liability for any acts or omissions of the Depositary or its nominee) as Holder nominee or common depositary with respect to such Global Security, for the records of any such depositary, including records in respect of beneficial ownership interests in respect of any such Global Security, for any transactions between the Depositary or its nominee or common depositary and any Participant or between or among the Depositary or its nominee or common depositary, any such Participant and/or any holder or owner of a beneficial interest in such Global Security, or for any transfers of beneficial interests in any such Global Security.

Holders to Be Treated as Owners. The Company, the Trustee and any agent of the Company or the Trustee may deem and treat the Person person in whose name any Subordinated Security shall be registered upon the Security Register for such series as the absolute owner of such Subordinated Security (whether or not such Subordinated 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 ofof and, and premium, if any, and (subject to Section 3.5 and Section 3.7) interestthe provisions of this Subordinated Indenture, if any, on, interest on such Security, Subordinated Security and for all other purposes whatsoever, whether or not such Security be overdue, purposes; and neither the Company, Company nor the Trustee nor any agent of the Company or the Trustee shall be affected by any notice to the contrary. The Company, the Trustee and any agent of the Company or the Trustee may treat the Holder of any Unregistered Subordinated Security and the Holder of any Coupon as the absolute owner of such Unregistered Subordinated Security or Coupon (whether or not such Unregistered Subordinated Security or Coupon shall be overdue) for the purpose of receiving payment thereof or on account thereof and for all other purposes and neither the Company, the Trustee, nor any agent of the Company or the Trustee shall be affected by any notice to the contrary. All such payments so made to any Holder for the time beingsuch 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 SecurityUnregistered Subordinated Security or Coupon. None If the Subordinated Securities of any series are issued in the Companyform of one or more Global Subordinated Securities, the Trustee Depository therefor may grant proxies to Persons having a beneficial ownership in such Global Subordinated Security or Subordinated Securities for purposes of voting or otherwise responding to any agent request for consent, waiver or other action which the Holder of the Company such Subordinated Security is entitled to grant or take under this Subordinated Indenture and the Trustee shall accept such proxies for the purposes granted; provided that neither the Trustee nor the Company shall have any responsibility or liability for any aspect of the 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 beneficial ownership interest. Notwithstanding the foregoing, obligation with respect to any Global Security, nothing herein shall prevent the Company grant of or solicitation by the Trustee or any agent of the Company 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 such Depository and owners of beneficial interests in such Global Security, the operation of customary practices governing the exercise of the right of such Depository (or its nominee) as Holder of such Global Securityproxies.

Holders to Be Treated as Owners. The CompanyProvince, the Trustee and any agent of the Company Province or the Trustee may deem and treat the any Person in whose name any Debt Security shall be registered upon the Security Register 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 ofof and, and premium, if any, and (subject to Section 3.5 and Section 3.7the provisions of this Indenture, interest (including Additional Amounts) interest, if any, on, on such Security, Debt Security and for all other purposes whatsoever, whether or not such Security be overdue, purposes; and neither none of the CompanyProvince, the Trustee nor or any agent of the Company Province, or the Trustee shall be affected by any notice to the contrary. All such payments so made to any Holder for the time beingsuch 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. None The Province, the Trustee, any registrar and any Paying Agent shall be entitled to treat the Depositary as the sole Holder of Global Securities for all purposes whatsoever. Participants shall have 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. Notwithstanding the Companyforegoing, nothing herein shall prevent the Province, the Trustee or any agent of the Company or the Trustee shall have any responsibility or liability for any aspect of the 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 beneficial ownership interest. Notwithstanding the foregoing, with respect to any Global Security, nothing herein shall prevent the Company or the Trustee or any agent of the Company Province 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 the Depositary or impair, as between such Depository the Depositary and owners of beneficial interests in such Global Securityits Participants, the operation of customary practices of the Depositary governing the exercise of the right rights of such Depository (or its nominee) as Holder a holder of such a beneficial interest in any Global Security.

Holders to Be Treated as Owners. The Company, the Trustee and any agent of the Company or the Trustee may deem and treat the Person in whose name any Security shall be registered upon the Security Register as the absolute owner of such Security (notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of principal of, and premium, premium (if any, ) and (subject to Section 3.5 3.6 and Section 3.73.9) interest, interest (if any, ) on, such Security, and for all other purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. All such payments so made to any Holder 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 such Security. None of the Company, the Trustee or any agent of the Company or the Trustee shall have any responsibility or liability for any aspect of the 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 beneficial ownership interest. Notwithstanding the foregoing, with respect to any Global Security, nothing herein shall prevent the Company or Company, the Trustee or any agent of the Company 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 such Depository and owners of beneficial interests in such Global Security, the operation of customary practices governing the exercise of the right of such Depository (or its nominee) as Holder holder of such Global Security.

Holders to Be Treated as Owners. The Company, the Trustee and any agent of the Company or the Trustee may deem and treat the Person person in whose name any Debt Security shall be registered upon the Debt Security Register 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 ofof and, and premium, if any, and (subject to Section 3.5 and Section 3.7) interestthe provisions of this Indenture, if any, on, interest on such Security, Debt Security and for all other purposes whatsoever, whether or not such Security be overdue, and to the extent permitted by law neither the Company, Company or the Trustee nor any agent of the Company or the Trustee shall be affected by any notice to the contrary. All such payments so made to any Holder for the time beingsuch 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 Debt Security. None Title to any Bearer Debt Security and any coupons appertaining thereto shall pass by delivery. The Company, the Trustee, each Paying Agent and any agent of any of them may treat the bearer of any Bearer Debt Security and the bearer of any coupon as the absolute owner of such Debt Security or coupon for the purpose of receiving payment thereof or on account thereof and for all other purposes whatsoever, whether or not such Debt Security or coupons be overdue, and none of the Company, the Trustee Trustee, any Paying Agent or any agent of any of them shall be affected by notice to the contrary. No holder of any beneficial interest in any Global Registered Debt Security held on its behalf by a Depositary shall have any rights under this Indenture with respect to such Global Registered Debt Security, and such Depositary may be treated by the Company, the Trustee, and any agent of the Company or the Trustee shall have any responsibility or liability as the owner of such Global Registered Debt Security for any aspect of the 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 beneficial ownership interestall purposes whatsoever. Notwithstanding the foregoing, with respect to any Global Security, nothing herein shall prevent the Company or the Trustee or any agent of the Company 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 Depositary and such Depository and owners holders of beneficial interests in such Global Securityinterests, the operation of customary practices governing the exercise of the right rights of such Depository (or its nominee) the Depositary as Holder of such Global any Debt Security.

Holders to Be Treated as Owners. The CompanyRepublic, the Trustee and any agent of the Company Republic or the Trustee may deem and treat the any Person in whose name any Debt Security shall be registered upon the Security Register 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 ofof and, and premium, if any, and (subject to Section 3.5 and Section 3.7the provisions of this Indenture, interest (including Additional Amounts) interest, if any, on, on such Security, Debt Security and for all other purposes whatsoever, whether or not such Security be overdue, purposes; and neither none of the CompanyRepublic, the Trustee nor or any agent of the Company Republic, or the Trustee shall be affected by any notice to the contrary. All such payments so made to any Holder for the time beingsuch 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. None The Republic, the Trustee, any registrar and any paying agent shall be entitled to treat the Depositary as the sole Holder of Global Securities for all purposes whatsoever. Participants shall have 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. Notwithstanding the Companyforegoing, nothing herein shall prevent the Republic, the Trustee or any agent of the Company or the Trustee shall have any responsibility or liability for any aspect of the 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 beneficial ownership interest. Notwithstanding the foregoing, with respect to any Global Security, nothing herein shall prevent the Company or the Trustee or any agent of the Company Republic 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 the Depositary or impair, as between such Depository the Depositary and owners of beneficial interests in such Global Securityits Participants, the operation of customary practices of the Depositary governing the exercise of the right rights of such Depository (or its nominee) as Holder a holder of such a beneficial interest in any Global Security.

Holders to Be Treated as Owners. The CompanyPrior to the due presentment for registration of transfer of any Security, the Issuer, the Trustee and any agent of the Company Issuer or the Trustee may deem and treat the Person in whose name any Security 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 premiumand, if any, and (subject to Section 3.5 and Section 3.7) interestthe provisions of this Indenture, if any, on, interest on such Security, Security and for all other purposes whatsoever, whether or not such Security be overdue, purposes; and neither the CompanyIssuer, the Trustee Trustee, nor any agent of the Company Issuer or the Trustee shall be affected by any notice to the contrary. The sole registered holder of a Global Security shall be the Depositary or its nominee. All such payments so made to any Holder for the time beingHolder, or upon such Holder’s 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. None of the CompanyTrustee, the Trustee Paying Agent or Registrar shall have any agent responsibility or obligation to any beneficial owner in a Global Security, a Depositary participant or other Person with respect to the accuracy of the Company records of the Depositary or its nominee or of any Depositary participant, with respect to any ownership interest in the Securities or with respect to the delivery to any Depositary participant, beneficial owner or other Person (other than the Depositary) of any notice (including any notice of redemption) or the Trustee payment of any amount, under or with respect to such Securities. All notices and communications to be given to the Holders and all payments to be made to Holders under the Securities and this Indenture shall be given or made only to or upon the order of the registered Holders (which shall be the Depositary or its nominee in the case of the Global Security). The rights of beneficial owners in the Global Security shall be exercised only through the Depositary subject to the applicable procedures. The Trustee, the Paying Agent and the Registrar shall be entitled to rely and shall be fully protected in relying upon information furnished by the Depositary with respect to its members, participants and any beneficial owners. The Trustee, the Paying Agent and the Registrar shall be entitled to deal with the Depositary, and any nominee thereof, that is the registered holder of any Global Security for all purposes of this Indenture relating to such Global Security (including the payment of principal, premium, if any, and interest and additional amounts, if any, and the giving of instructions or directions by or to the owner or holder of a beneficial ownership interest in such Global Security) as the sole holder of such Global Security and shall have no obligations to the beneficial owners thereof. None of the Trustee, the Paying Agent or the Registrar shall have any responsibility or liability for any aspect acts or omissions of the Depositary with respect to such Global Security, for the records relating to or payments made on account of any such depositary, including records in respect of beneficial ownership interest interests in respect of any such Global Security, for any transactions between the Depositary and any Depositary participant or between or among the Depositary, any such Depositary participant and/or any holder or owner of a beneficial interest in such Global Security, or for maintaining, supervising or reviewing any records relating to transfers of beneficial interests in any such beneficial ownership interestGlobal Security. Notwithstanding the foregoing, with respect to any Global Security, nothing herein shall prevent the Company or Issuer, the Trustee Trustee, or any agent of the Company Issuer or the Trustee from giving effect to any written certification, proxy or other authorization furnished by any Depository Depositary (or its nominee), as a Holder, with respect to such Global Security or shall impair, as between such Depository Depositary and owners of beneficial interests in such Global Security, the operation of customary practices governing the exercise of the right rights of such Depository Depositary (or its nominee) as Holder of such Global Security.

Holders to Be Treated as Owners. The Company, the Trustee and any agent of the Company or the Trustee may deem and treat the Person in whose name any Security shall be registered upon the Security Register as the absolute owner of such Security (notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of principal of, and premium, if any, and (subject to Section 3.5 3.6 and Section 3.73.8) interest, if any, on, such Security, and for all other purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. All such payments so made to any Holder 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 such Security. None of the Company, the Trustee or any agent of the Company or the Trustee shall have any responsibility or liability for any aspect of the 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 beneficial ownership interest. Notwithstanding the foregoing, with respect to any Global Security, nothing herein shall prevent the Company or the Trustee or any agent of the Company 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 such Depository and owners of beneficial interests in such Global Security, the operation of customary practices governing the exercise of the right of such Depository (or its nominee) as Holder holder of such Global Security.

Holders to Be Treated as Owners. (a) The CompanyRepublic, the Trustee Trustee, any trustee paying agent and any agent of the Company Republic or the Trustee may deem and treat the any Person in whose name any Debt Security shall be registered upon the Security Register 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 ofof and, and premium, if any, and (subject to Section 3.5 and Section 3.7the provisions of this Indenture, interest (including Additional Amounts) interest, if any, on, on such Security, Debt Security and for all other purposes whatsoever, whether or not such Security be overdue, purposes; and neither none of the CompanyRepublic, the Trustee nor Trustee, any trustee paying agent or any agent of the Company Republic, or the Trustee shall be affected by any notice to the contrary. All such payments so made to any Holder for the time beingsuch 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. None The Republic, the Trustee, any registrar and any trustee paying agent shall be entitled to treat the Depositary as the sole Holder of Global Securities for all purposes whatsoever. Participants shall have 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. Notwithstanding the Companyforegoing, nothing herein shall prevent the Republic, the Trustee or any agent of the Company or the Trustee shall have any responsibility or liability for any aspect of the 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 beneficial ownership interest. Notwithstanding the foregoing, with respect to any Global Security, nothing herein shall prevent the Company or the Trustee or any agent of the Company Republic 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 the Depositary or impair, as between such Depository the Depositary and owners of beneficial interests in such Global Securityits Participants, the operation of customary practices of the Depositary governing the exercise of the right rights of a holder of a beneficial interest in any Global Security. (b) None of the Republic, the Trustee, any trustee paying agent, any registrar or any agent of the Republic or the Trustee shall have any responsibility or obligation to any beneficial owner in a Global Security, or Participant or other Person with respect to the accuracy of the records of the Depositary or its nominee or common depositary or any Participant, with respect to any ownership interest in the Debt Securities or with respect to the delivery to any Participant, beneficial owner or other Person (other than the Depositary or its nominee or common depositary) of any notice (including any notice of redemption) or the payment of any amount, under or with respect to such Debt Securities. All notices and communications to be given to the Holders and all payments to be made to Holders under the Debt Securities and this Indenture shall be given or made only to or upon the order of the registered holders (which shall be the Depositary or its nominee or common depositary in the case of the Global Security). The rights of beneficial owners in the Global Security shall be exercised only through the Depositary or its nominee or common depositary subject to the applicable procedures. The Republic, the Trustee, any trustee paying agent, any registrar and any agent of the Republic or the Trustee shall be entitled to rely and shall be fully protected in relying upon information furnished by the Depositary or its nominee or common depositary with respect to its members, participants and any beneficial owners. The Republic, the Trustee, any trustee paying agent, any registrar and any agent of the Republic or the Trustee shall be entitled to deal with the Depositary or its nominee or common depositary, that is the registered holder of any Global Security for all purposes of this Indenture relating to such Global Security (including the payment of principal, premium, if any, and interest and additional amounts, if any, and the giving of instructions or directions by or to the owner or holder of a beneficial ownership interest in such Global Security) as the sole holder of such Depository (Global Security and shall have no obligations to the beneficial owners thereof. None of the Republic, the Trustee, any trustee paying agent, any registrar or any agent of the Republic or the Trustee shall have any responsibility or liability for any acts or omissions of the Depositary or its nominee) as Holder nominee or common depositary with respect to such Global Security, for the records of any such depositary, including records in respect of beneficial ownership interests in respect of any such Global Security, for any transactions between the Depositary or its nominee or common depositary and any Participant or between or among the Depositary or its nominee or common depositary, any such Participant and/or any holder or owner of a beneficial interest in such Global Security, or for any transfers of beneficial interests in any such Global Security.

Holders to Be Treated as Owners. The CompanyProvince, the Trustee and any agent of the Company Province or the Trustee may deem and treat the any Person in whose name any Debt Security shall be registered upon the Security Register 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 ofof and, and premium, if any, and (subject to Section 3.5 and Section 3.7the provisions of this Indenture, interest (including Additional Amounts) interest, if any, on, on such Security, Debt Security and for all other purposes whatsoever, whether or not such Security be overdue, purposes; and neither none of the CompanyProvince, the Trustee nor or any agent of the Company Province, or the Trustee shall be affected by any notice to the contrary. All such payments so made to any Holder for the time beingsuch 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. None The Province, the Trustee, any registrar and any paying agent shall be entitled to treat the Depositary as the sole Holder of Global Securities for all purposes whatsoever. Participants shall have 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. Notwithstanding the Companyforegoing, nothing herein shall prevent the Province, the Trustee or any agent of the Company or the Trustee shall have any responsibility or liability for any aspect of the 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 beneficial ownership interest. Notwithstanding the foregoing, with respect to any Global Security, nothing herein shall prevent the Company or the Trustee or any agent of the Company Province 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 the Depositary or impair, as between such Depository the Depositary and owners of beneficial interests in such Global Securityits Participants, the operation of customary practices of the Depositary governing the exercise of the right rights of such Depository (or its nominee) as Holder a holder of such a beneficial interest in any Global Security.

Holders to Be Treated as Owners. The Company, the Trustee and any agent of the Company or the Trustee may deem and treat the Person person in whose name any Security shall be registered upon the Security Register as the absolute owner of such Security (notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of principal of, and premium, if any, and (subject to Section 3.5 and Section 3.73.8) interest, if any, on, such Security, and for all other purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. All such payments so made to any Holder 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 such Security. None of the Company, the Trustee or any agent of the Company or the Trustee shall have any responsibility or liability for any aspect of the 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 beneficial ownership interest. Notwithstanding Not withstanding the foregoing, with respect to any Global Security, nothing herein shall prevent the Company or the Trustee or any agent of the Company 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 such Depository and owners of beneficial interests in such Global Security, the operation of customary practices governing the exercise of the right of such Depository (or its nominee) as Holder holder of such Global Security.

Holders to Be Treated as Owners. The CompanyIssuer, the Trustee and any agent of the Company Issuer or the Trustee may deem and treat the any Person in whose name any Security Registered Note shall be registered upon the Security Register as the absolute owner of such Security Note (whether or not such 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 ofof and, and premium, if any, and (subject to Section 3.5 and Section 3.7the provisions of this Indenture, interest on such Note (including Additional Amounts) interest, if any, on, such Security, and for all other purposes whatsoever, whether or not such Security be overdue, purposes; and neither none of the CompanyIssuer, the Trustee nor and any agent of the Company Issuer or the Trustee shall be affected by any notice to the contrary. All such payments so made to any Holder for the time beingsuch 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 SecurityNote. None Title to any Bearer Note and any coupons appertaining thereto shall pass by delivery. The Issuer, the Trustee and any agent of the CompanyIssuer or the Trustee may treat the bearer of any Bearer Note and the bearer of any coupon as the absolute owner of such Note or coupon for the purpose of receiving payment thereof or on account thereof and for all other purposes whatsoever, whether or not such Note or coupons be overdue, and none of the Issuer, the Trustee or any agent of the Company Issuer or the Trustee shall be affected by notice to the contrary. None of the Issuer, the Trustee, 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 interest interests of a Global Security, Note in global form or for maintaining, supervising or reviewing any records relating to such beneficial ownership interestinterests. Notwithstanding the foregoing, with respect to any Global Securityglobal Note, nothing herein shall prevent the Company or Issuer, the Trustee Trustee, or any agent of the Company Issuer or the Trustee Trustee, from giving effect to any written certification, proxy or other authorization furnished by any Depository (or its nominee)depositary, as a Holder, with respect to such Global Security global Note or impair, as between such Depository depositary and owners of beneficial interests in such Global Securityglobal Note, the operation of customary practices governing the exercise of the right rights of such Depository depositary (or its nominee) as Holder of such Global Securityglobal Note.

Holders to Be Treated as Owners. The CompanyIssuer, the Trustee Guarantors, the Trustee, the Agent and any agent of the Company Issuer, the Guarantors, the Trustee or the Trustee may Agent shall deem and treat the Person in whose name any Security Note shall be registered upon the Security Register Note register as the absolute owner of such Security Note (whether or not such Note shall be overdue and notwithstanding any notation of ownership or other writing thereon) for the purpose of the recognition of any Notes or consent or receiving payment of or on account of the principal ofof and, and premium, if any, and (subject to Section 3.5 and Section 3.7) interestthe provisions of this Indenture, if any, on, interest on such Security, Note and for all other purposes whatsoever, whether or not such Security be overdue, purposes; and neither none of the CompanyIssuer, the Guarantors the Trustee nor or the Agent or any agent of the Company or the Trustee thereof shall be affected by any notice to the contrary. All such payments so made to any Holder for the time beingsuch 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 SecurityNote. Notwithstanding the foregoing, payment of an amount sufficient to pay the sum due in respect of the Notes made in accordance with Section 2 of Schedule 5 to this Indenture by or on behalf of the Issuer or any Guarantor to the Trustee or the Agent as provided in this Indenture shall, to that extent, satisfy such obligation by the Issuer or such Guarantor. No holder of any beneficial interest in any Global Note held on its behalf by the Depositary shall have any rights under this Indenture with respect to such Global Note, and such depositary may be treated by the Issuer, the Guarantors, the Trustee, the Agent and any agent of the Issuer, the Trustee or the Agent as owner of such Global Note for all purposes whatsoever. None of the CompanyIssuer, the Trustee Guarantors, the Trustee, the Agent, any paying agent or any agent security registrar, or any of the Company or the Trustee their respective agents, shall have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interest interests of a Global Security, Note or for maintaining, supervising or reviewing any records relating to such beneficial ownership interestinterests. Notwithstanding the foregoing, with respect to any Global SecurityNote, nothing herein shall prevent the Company or Issuer, the Trustee or any agent of the Company Issuer or the Trustee from giving effect to any written certificationcertifications, proxy or other authorization furnished by any Depository (or its nominee)Depositary, as a Holder, with respect to such Global Security Note, or impair, as between such Depository this Depositary and owners of beneficial interests in such Global SecurityNote, the operation of customary practices governing the exercise of the right rights of such Depository Depositary (or its nominee) as Holder of such Global SecurityNote.

Holders to Be Treated as Owners. The Company, the Trustee Trustee, the Registrar, the Co-Registrar and each Paying Agent and Transfer Agent and any agent of the Company or the Trustee any of them may deem and treat the any Person in whose name any Security Registered Note shall be registered upon the Security Register as the absolute owner of such Security Note (whether or not such 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 ofof and, and premiumsubject to the provisions of this Indenture, interest on such Note (including Additional Amounts, if any, and (subject to Section 3.5 and Section 3.7) interest, if any, on, such Security, and for all other purposes whatsoever, whether or not such Security be overdue, purposes; and neither none of the Company, the Trustee nor Trustee, the Registrar, the Co-Registrar, any Paying Agent, any Transfer Agent and any agent of the Company or the Trustee any of them shall be affected by any notice to the contrary. All such payments so made to any Holder for the time beingsuch 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 Securitynote. Title to any Bearer Note and any coupons appertaining thereto shall pass by delivery. The Company, the Trustee, each Paying Agent and any agent of any of them may treat the bearer of any Bearer Note and the bearer of any coupon as the absolute owner of such Note or coupon for the purpose of receiving payment thereof or on account thereof and for all other purposes whatsoever, whether or not such Note or coupons be overdue, and none of the Company, the Trustee, any Paying Agent or any agent of any of them shall be affected by notice to the contrary. None of the Company, the Trustee Trustee, the Registrar, the Co-Registrar, any Transfer Agent or any agent of the Company or the Trustee shall Paying Agent will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interest interests of a Global Security, Note in global form or for maintaining, supervising or reviewing any records relating to such beneficial ownership interestinterests. Notwithstanding the foregoing, with respect to any Global SecurityNote, nothing herein shall prevent the Company or Company, the Trustee Trustee, or any agent of the Company or the Trustee Trustee, from giving effect to any written certification, proxy or other authorization furnished by any Depository (or its nominee)depositary, as a Holder, with respect to such Global Security Note or impair, as between such Depository depositary and owners of beneficial interests in such Global SecurityNote, the operation of customary practices governing the exercise of the right rights of such Depository depositary (or its nominee) as Holder of such Global SecurityNote.

Holders to Be Treated as Owners. The CompanyIssuer, the Trustee and any agent of the Company Issuer or the Trustee may deem and treat the Person in whose name any Security 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 ofof and, and premium, if any, and (subject to Section 3.5 and Section 3.7) interestthe provisions of this Indenture, if any, on, interest on such Security, Security and for all other purposes whatsoever, whether or not such Security be overdue, purposes; and neither the Company, Issuer nor the Trustee nor any agent of the Company Issuer or the Trustee shall be affected by any notice to the contrary. All such payments so made to any Holder for the time beingsuch Person, or upon his order, shall be valid, and, to the extent of the sum or sums so to be 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 Depositary shall have any rights under this Indenture with respect to such Global Security, and such Depositary may be treated by the Issuer, the Trustee and any agent of the Issuer or the Trustee as owner of such Global Security for all purposes whatsoever. None of the CompanyIssuer, the Trustee Trustee, any paying agent or any agent of the Company or the Trustee security registrar shall have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interest interests of a Global Security, Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interestinterests. Notwithstanding the foregoing, with respect to any Global Security, nothing herein shall prevent the Company or Issuer, the Trustee or any agent of the Company Issuer or the Trustee from giving effect to any written certification, proxy or other authorization furnished by any Depository (or its nominee)Depositary, as a Holder, with respect to such Global Security Security, or impair, as between such Depository Depositary and owners of beneficial interests in such Global Security, the operation of customary practices governing the exercise of the right rights of such Depository Depositary (or its nominee) as Holder of such Global Security.