Common use of Mandatory Settlement of Arrears of Interest Clause in Contracts

Mandatory Settlement of Arrears of Interest. All (but not some only) of any outstanding Arrears of Interest from time to time in respect of all Securities for the time being outstanding shall become due and payable in full and shall be paid by the Issuer on the first occurring Mandatory Settlement Date. The Issuer shall give notice of the impending occurrence of any Mandatory Settlement Date to the Securityholders in accordance with Condition 14 and to the Fiscal Agent and Paying Agents, promptly upon becoming aware thereof and, in any event, at least five Business Days prior to the relevant Mandatory Settlement Date.

Appears in 4 contracts

Samples: Agency Agreement, Agency Agreement, Agency Agreement

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