Common use of Operation and effect of withdrawal Clause in Contracts

Operation and effect of withdrawal. (a) Any notice given under clause 9.3 or clause 9.4 may be expressed to take effect immediately on delivery or at any time thereafter, and shall take effect accordingly. On the day of (or, as the case may be, the date specified in) a notice given by the Crown under clause 9.3 or clause 9.4, the Crown Guarantee is withdrawn in respect of all obligations which arise under any Debt Security issued following the date of withdrawal and such obligations shall not be covered by the Crown Guarantee, and the provisions of clause 9.6 shall apply in respect of all such obligations.

Operation and effect of withdrawal. (a) Any notice given under clause 9.3 10.3 or clause 9.4 10.4 may be expressed to take effect immediately on delivery or at any time thereafter, and shall take effect accordingly. On the day of (or, as the case may be, the date specified in) a notice given by the Crown under clause 9.3 10.3 or clause 9.410.4, the Crown Guarantee is withdrawn in respect of all obligations which arise under any Debt Security issued following the date of withdrawal and such obligations shall not be covered by the Crown Guarantee, and the provisions of clause 9.6 10.6 shall apply in respect of all such obligations.