Common use of Limitation of Rights upon a Capital Ratio Event Clause in Contracts

Limitation of Rights upon a Capital Ratio Event. Notwithstanding anything to the contrary set forth in this Perpetual Subordinated Indenture or a Security, upon the occurrence of a Capital Ratio Event, (a) no Holder or beneficial owner shall have any rights whatsoever under this Perpetual Subordinated Indenture or the Security to take any action or enforce any rights or to instruct the Trustee to take any action or enforce any rights whatsoever, (b) except for any indemnity or security provided by a Holder or beneficial owner in such instruction or related to such instruction, any instruction previously given to the Trustee by such Holder or beneficial owner shall cease automatically and shall be deemed null and void and of no further effect, (c) no Holder or beneficial owner may exercise, claim or plead any right of set-off, compensation or retention in respect of any amount owed to it by the Company arising under, or in connection with, the Security and each Holder or beneficial owner of a Security will, by virtue of its holding of such Security, be deemed to have irrevocably waived all such rights of set-off, compensation or retention and (d) no Holder or beneficial owner will be entitled to make any claim in any bankruptcy, insolvency, civil rehabilitation, corporate reorganization or liquidation proceedings involving the Company or have any ability to initiate or participate in any such proceedings or do so through a representative, in each case, to the extent such right, instruction, exercise, claim or pleading pertains to the Current Principal Amount of the Securities that has been or will be subject to a Going Concern Write-Down as a result of such Capital Ratio Event having occurred, or interest thereon (including Additional Amounts with respect thereto, if any), unless such Current Principal Amount has been reinstated, as described below under Section 14.07; provided that nothing in this Section 14.05 will limit a Holder’s or beneficial owner’s rights with respect to payments of the Current Principal Amount of or interest on a Security (including Additional Amounts with respect thereto, if any) that have become due and payable prior to the occurrence of the Capital Ratio Event and remain unpaid.

Limitation of Rights upon a Capital Ratio Event. Notwithstanding anything to the contrary set forth in this Perpetual Subordinated Indenture or a Security, upon the occurrence of a Capital Ratio Event, (a) no Holder or beneficial owner the Holders of the Securities shall have any no rights whatsoever under this Perpetual Subordinated Indenture or the Security Securities to take any action or enforce any rights or to instruct the Trustee to take any action or enforce any rights whatsoever, (b) except for any indemnity or and/or security provided by a any Holder or beneficial owner in such instruction or related to such instruction, any instruction previously given to the Trustee by such any Holder or beneficial owner shall cease automatically and shall be deemed null and void and of no further effect, (c) no Holder or beneficial owner may exercise, claim or plead any right of set-off, compensation or retention in respect of any amount owed to it by the Company arising under, or in connection with, the Security Securities and each Holder or beneficial owner of a Security willshall, by virtue of its holding of such Security, be deemed to have irrevocably waived all such rights of set-off, compensation or retention and (d) no Holder or beneficial owner will be entitled to make any claim in any bankruptcy, insolvency, civil rehabilitation, corporate reorganization or liquidation proceedings involving the Company or have any ability to initiate or participate in any such proceedings or do so through a representative, in each case, to the extent such right, instruction, exercise, claim or pleading pertains to the Current Principal Amount of the Securities that has been or will be subject to a Going Concern Write-Down as a result of such Capital Ratio Event having occurred, or interest thereon (including Additional Amounts with respect thereto, if any), unless such Current Principal Amount has been reinstated, as described below under Section 14.07; provided that nothing in this Section 14.05 will limit a Holder’s or beneficial owner’s rights with respect to payments of the Current Principal Amount of or interest on a Security (including Additional Amounts with respect thereto, if any) that have become due and payable prior to the occurrence of the Capital Ratio Event and remain unpaid.

Limitation of Rights upon a Capital Ratio Event. Notwithstanding anything to the contrary set forth in this Perpetual Subordinated Indenture or a Security, upon the occurrence of a Capital Ratio Event, (a) no Holder or beneficial owner shall have any rights whatsoever under this Perpetual Subordinated Indenture or the Security Securities to take any action or enforce any rights or to instruct the Trustee to take any action or enforce any rights whatsoever, (b) except for any indemnity or security provided by a Holder or beneficial owner in such instruction or related to such instruction, any instruction previously given to the Trustee by such Holder or beneficial owner shall cease automatically and shall be deemed null and void and of no further effect, (c) no Holder or beneficial owner may exercise, claim or plead any right of set-off, compensation or retention in respect of any amount owed to it by the Company Issuer arising under, or in connection with, the Security Securities and each Holder or beneficial owner of a Security will, by virtue of its holding of such Security, be deemed to have irrevocably waived all such rights of set-off, compensation or retention and (d) no Holder or beneficial owner will be entitled to make any claim in any bankruptcy, insolvency, civil rehabilitation, corporate reorganization insolvency or liquidation proceedings involving the Company Issuer or have any ability to initiate or participate in any such proceedings or do so through a representative, in each case, to the extent such right, instruction, exercise, claim or pleading pertains to the Current Principal Amount principal of the Securities that has been or will be subject to a Going Concern Write-Down as a result of such Capital Ratio Event having occurred, or interest thereon (including Additional Amounts with respect thereto, if any), unless such Current Principal Amount principal amount has been reinstated, as described below under in Section 14.0714.06; provided provided, however, that nothing in this Section 14.05 14.04 will limit a Holder’s or beneficial owner’s rights with respect to payments of the Current Principal Amount principal of or interest on a Security the Securities (including Additional Amounts with respect thereto, if any) that have become due and payable prior to the occurrence of the Capital Ratio Event and remain unpaid.

Limitation of Rights upon a Capital Ratio Event. Notwithstanding anything to the contrary set forth in this Perpetual Subordinated Indenture or a Security, upon the occurrence of a Capital Ratio Event, (a) no Holder or beneficial owner shall have any rights whatsoever under this Perpetual Subordinated Indenture or the Security Securities to take any action or enforce any rights or to instruct the Trustee to take any action or enforce any rights whatsoever, (b) except for any indemnity or security provided by a Holder or beneficial owner in such instruction or related to such instruction, any instruction previously given to the Trustee by such Holder or beneficial owner shall cease automatically and shall be deemed null and void and of no further effect, (c) no Holder or beneficial owner may exercise, claim or plead any right of set-off, compensation or retention in respect of any amount owed to it by the Company Issuer arising under, or in connection with, the Security Securities and each Holder or beneficial owner of a Security will, by virtue of its holding of such Security, be deemed to have irrevocably waived all such rights of set-off, compensation or retention and (d) no Holder or beneficial owner will be entitled to make any claim in any bankruptcy, insolvency, civil rehabilitation, corporate reorganization or liquidation proceedings involving the Company Issuer or have any ability to initiate or participate in any such proceedings or do so through a representative, in each case, to the extent such right, instruction, exercise, claim or pleading pertains to the Current Principal Amount principal of the Securities that has been or will be subject to a Going Concern Write-Down as a result of such Capital Ratio Event having occurred, or interest thereon (including Additional Amounts with respect thereto, if any), unless such Current Principal Amount principal amount has been reinstated, as described below under in Section 14.0714.06; provided provided, however, that nothing in this Section 14.05 14.04 will limit a Holder’s or beneficial owner’s rights with respect to payments of the Current Principal Amount principal of or interest on a Security the Securities (including Additional Amounts with respect thereto, if any) that have become due and payable prior to the occurrence of the Capital Ratio Event and remain unpaid.