Common use of Minimum Liquidity Covenant Clause in Contracts

Minimum Liquidity Covenant. (a) The Issuer shall ensure that on each Quarterly Testing Date commencing on 30 September 2020 up to and including the last Quarterly Testing Date occurring before the Waiver Period End Date, the Liquidity available to it on such Quarterly Testing Date is not less than £200,000,000 (the Minimum Liquidity Covenant).” (a) For the purposes of this Condition 4.14, Liquidity shall be as stated in the Minimum Liquidity Certificate delivered by the Issuer to the Trustee on each Quarterly Reporting Date. The Trustee shall be entitled to rely on the accuracy of the Minimum Liquidity Certificate without further enquiry or liability” (i) Condition 6 (Interest) of Schedule 3 (Terms and Conditions of the Notes in Definitive Form) is amended so that: (i) The following test is added at the beginning of sub-paragraph (a): “Subject to Condition 6(d) below,” (ii) The following text is added as a new sub-paragraph (d): “ (i) With effect from the date on which the Waiver Period commences, the rate of interest accruing on the Notes pursuant to Condition 6(a) above shall be deemed to be increased by 0.25 per cent. per annum (a Waiver Period Interest Step-Up) and continue thereafter in respect of each subsequent Interest Period up to and including the final day of the Interest Period in which the Waiver Period End- Date occurs. (ii) In respect of the Interest Period in which a Rating Event Trigger Date occurs, the rate of interest accruing on the Notes pursuant to Condition 6(a) above shall be deemed to be increased by 0.25 per cent. per annum (a

Minimum Liquidity Covenant. (a) The Issuer shall ensure that on each Quarterly Testing Date commencing on 30 September 2020 up to and including the last Quarterly Testing Date occurring before the Waiver Period End Date, the Liquidity available to it on such Quarterly Testing Date is not less than £200,000,000 (the Minimum Liquidity Covenant).” (a) For the purposes of this Condition 4.14, Liquidity shall be as stated in the Minimum Liquidity Certificate delivered by the Issuer to the Trustee on each Quarterly Reporting Date. The Trustee shall be entitled to rely on the accuracy of the Minimum Liquidity Certificate without further enquiry or liability” (i) Condition 6 (Interest) of Schedule 3 (Terms and Conditions of the Notes in Definitive Form) is amended so that: (i) The following test is added at the beginning of sub-paragraph (a): “Subject to Condition 6(d) below,” (ii) The following text is added as a new sub-paragraph (d): “ (i) With effect from the date on which the Waiver Period commences, the rate of interest accruing on the Notes pursuant to Condition 6(a) above shall be deemed to be increased by 0.25 per cent. per annum (a Waiver Period Interest Step-Up) and continue thereafter in respect of each subsequent Interest Period up to and including the final day of the Interest Period in which the Waiver Period End- Date occurs.the (ii) In respect of the Interest Period in which a Rating Event Trigger Date occurs, the rate of interest accruing on the Notes pursuant to Condition 6(a) above shall be deemed to be increased by 0.25 per cent. per annum (a

Minimum Liquidity Covenant. (a) The Issuer shall ensure that on each Quarterly Testing Date commencing on 30 September 2020 up to and including the last Quarterly Testing Date occurring before the Waiver Period End Date, the Liquidity available to it on such Quarterly Testing Date is not less than £200,000,000 (the Minimum Liquidity Covenant).” (a) For the purposes of this Condition 4.14, Liquidity shall be as stated in the Minimum Liquidity Certificate delivered by the Issuer to the Trustee on each Quarterly Reporting Date. The Trustee shall be entitled to rely on the accuracy of the Minimum Liquidity Certificate without further enquiry or liability” (i) Condition 6 (Interest) of Schedule 3 (Terms and Conditions of the Notes in Definitive Form) is amended so that: (i) The following test is added at the beginning of sub-paragraph (a): “Subject to Condition 6(d6(c) below,” (ii) The following text is added as a new sub-paragraph (dc): “ (i) With effect from the date on which the Waiver Period commences, the rate of interest accruing on the Notes pursuant to Condition 6(a) above shall be deemed to be increased by 0.25 per cent. per annum (a Waiver Period Interest Step-Up) and continue thereafter in respect of each subsequent Interest Period up to and including the final day of the Interest Period in which the Waiver Period End- Date occurs.the (ii) In respect of the Interest Period in which a Rating Event Trigger Date occurs, the rate of interest accruing on the Notes pursuant to Condition 6(a) above shall be deemed to be increased by 0.25 per cent. per annum (a