Common use of Payment after a Default Clause in Contracts

Payment after a Default. At any time after an Event of Default or a Potential Event of Default has occurred in relation to the ETP Securities, the Trustee may: (A) by notice in writing to the Issuer, the Issuing and Paying Agent, any other Paying Agents, the Registrar, the Portfolio Administrator, any Transfer Agents and/or the Determination Agent, require any and all of such Agents, until notified by the Trustee to the contrary, so far as permitted by applicable law to (a) act as agent of the Trustee under the relevant Trust Deed and the ETP Securities mutatis mutandis on the terms of the Agency Agreement, the Determination Agency Agreement, the Registrar Agreement and/or the Portfolio Administration Agreement, as applicable (with consequential amendments as necessary) and except that the Trustee’s liability for the indemnification, remuneration and all other expenses of such Agents (if any) shall be limited to the amounts for the time being held by the Trustee in respect of the ETP Securities on the terms of the relevant Trust Deed and which are available (after application in accordance with the relevant order of priority set out in the Conditions or the relevant Trust Deed, as applicable) to discharge such liability); or (b) deliver the ETP Securities and all moneys, documents and records held by them in respect of the ETP Securities to or to the order of the Trustee or as the Trustee directs in such notice; and (B) by notice in writing to the Issuer require it to make all subsequent payments in respect of the ETP Securities to or to the order of the Trustee and not to the Issuing and Paying Agent and/or the Registrar (as the case may be) with effect from the receipt of any such notice by the Issuer; and from then until such notice is withdrawn, proviso (i) to Clause 2.6 shall cease to have effect.

Payment after a Default. At any time after an Event of Default or a Potential Event of Default has occurred in relation to the ETP Securitiesa particular Series, the Trustee may: (Aa) by notice in writing to the Issuer, the Issuing Paying Agents and Paying Agent, any other Paying the Agents, require the Registrar, the Portfolio Administrator, any Transfer Agents and/or the Determination Agent, require any and all of such Agents, until notified by the Trustee to the contrary, so far as permitted by applicable law law: (i) to (a) act as agent agents of the Trustee under the relevant this Trust Deed and the ETP Securities mutatis mutandis Notes of such Series on the terms of the Agency Agreement, the Determination Agency Agreement, the Registrar Agreement and/or the Portfolio Administration Agreement, as applicable (with consequential amendments as necessary) necessary and except that the Trustee’s liability for the indemnification, remuneration and all other expenses of such the Agents (if any) shall be limited to the amounts for the time being held by the Trustee in respect of the ETP Securities Notes of such Series on the terms of this Trust Deed) and thereafter to hold all Notes, Certificates, Receipts, Coupons and Talons of such Series and all moneys, documents and records held by them in respect of Notes, Certificates, Receipts, Coupons and Talons of such Series to the relevant Trust Deed and which are available (after application in accordance with the relevant order of priority set out in the Conditions or the relevant Trust Deed, as applicableTrustee; or (ii) to discharge deliver all Notes, Certificates, Receipts, Coupons and Talons of such liability); or (b) deliver the ETP Securities Series and all moneys, documents and records held by them in respect of the ETP Securities Notes, Certificates, Receipts, Coupons and Talons of such Series to or to the order of the Trustee or as the Trustee directs in such notice; and (Bb) by notice in writing to the Issuer require it to make all subsequent payments in respect of the ETP Securities Notes, Receipts, Coupons and Talons of such Series to or to the order of the Trustee and not to the Issuing and Principal Paying Agent and/or the Registrar (as the case may be) with effect from the receipt issue of any such notice by to the Issuer; and from then . From the issue of such notice until such notice is withdrawn, proviso (i1) to Clause 2.6 2.3 shall cease to have effect.

Payment after a Default. At any time after an Event of Default or a Potential Event of Default has occurred in relation to the ETP Securities, the Trustee may: (Aa) by notice in writing to the Issuer, the Issuing Guarantor, the Paying Agents and Paying Agent, any other Paying the Agents, require the Registrar, the Portfolio Administrator, any Transfer Agents and/or the Determination Agent, require any and all of such Agents, until notified by the Trustee to the contrary, so far as permitted by applicable law law: (i) to (a) act as agent agents of the Trustee under the relevant this Trust Deed and the ETP Securities mutatis mutandis Notes on the terms of the Agency Agreement, the Determination Agency Agreement, the Registrar Agreement and/or the Portfolio Administration Agreement, as applicable (with consequential amendments as necessary) necessary and except that the Trustee’s liability for the indemnification, remuneration and all other expenses of such the Agents (if any) shall be limited to the amounts for the time being held by the Trustee in respect of the ETP Securities Notes on the terms of this Trust Deed) and thereafter to hold all Notes, Certificates, Receipts, Coupons and Talons and all moneys, documents and records held by them in respect of Notes, Certificates, Receipts, Coupons and Talons to the relevant Trust Deed and which are available (after application in accordance with the relevant order of priority set out in the Conditions or the relevant Trust Deed, as applicableTrustee; or (ii) to discharge such liability); or (b) deliver the ETP Securities all Notes, Certificates, Receipts, Coupons and Talons and all moneys, documents and records held by them in respect of the ETP Securities Notes, Certificates, Receipts, Coupons and Talons to or to the order of the Trustee or as the Trustee directs in such notice; and (Bb) by notice in writing to the Issuer and the Guarantor require it them to make all subsequent payments in respect of the ETP Securities Notes, Receipts, Coupons and Talons to or to the order of the Trustee and not to the Issuing and Principal Paying Agent and/or the Registrar (as the case may be) with effect from the receipt of any such notice by the Issuer; and from then until such notice is withdrawn, proviso (i) to Clause 2.6 shall cease to have effectAgent.

Payment after a Default. At any time after an Event of Default or a Potential Event of Default has occurred in relation to the ETP Securitiesa particular Series, the Trustee may: (Aa) by notice in writing to the Issuer, the Issuing Guarantor, the Paying Agents and Paying Agent, any other Paying the Agents, require the Registrar, the Portfolio Administrator, any Transfer Agents and/or the Determination Agent, require any and all of such Agents, until notified by the Trustee to the contrary, so far as permitted by applicable law law: (i) to (a) act as agent agents of the Trustee under the relevant this Trust Deed and the ETP Securities mutatis mutandis Notes of such Series on the terms of the Agency Agreement, the Determination Agency Agreement, the Registrar Agreement and/or the Portfolio Administration Agreement, as applicable (with consequential amendments as necessary) necessary and except that the Trustee’s liability for the indemnification, remuneration and all other expenses of such the Agents (if any) shall be limited to the amounts for the time being held by the Trustee in respect of the ETP Securities Notes of such Series on the terms of this Trust Deed) and thereafter to hold all Notes, Certificates, Receipts, Coupons and Talons of such Series and all moneys, documents and records held by them in respect of Notes, Certificates, Receipts, Coupons and Talons of such Series to the relevant Trust Deed and which are available (after application in accordance with the relevant order of priority set out in the Conditions or the relevant Trust Deed, as applicableTrustee; or (ii) to discharge deliver all Notes, Certificates, Receipts, Coupons and Talons of such liability); or (b) deliver the ETP Securities Series and all moneys, documents and records held by them in respect of the ETP Securities Notes, Certificates, Receipts, Coupons and Talons of such Series to or to the order of the Trustee or as the Trustee directs in such notice; and (Bb) by notice in writing to the Issuer and the Guarantor require it themit to make all subsequent payments in respect of the ETP Securities Notes, Receipts, Coupons and Talons of such Series to or to the order of the Trustee and not to the Issuing and Principal Paying Agent and/or the Registrar (as the case may be) with effect from the receipt issue of any such notice by to the Issuer; and from then . From the issue of such notice until such notice is withdrawn, proviso (i1) to Clause 2.6 2.3 shall cease to have effect.

Payment after a Default. At any time after an Event of Default or a Potential Event of Default has occurred in relation to the ETP Securitiesoccurred, the Trustee may: (A) 2.6.1 by notice in writing to the relevant Issuer, the Issuing Guarantor and Paying Agent, any other Paying the Agents, require the Registrar, the Portfolio Administrator, any Transfer Agents and/or the Determination Agent, require any and all of such Agents, until notified by the Trustee to the contrary, so far as permitted by applicable law law: (i) to (a) act as agent Agents of the Trustee under the relevant this Trust Deed and the ETP Securities mutatis mutandis ECNs of such Series on the terms of the Agency Agreement, the Determination Agency Agreement, the Registrar Agreement and/or the Portfolio Administration Agreement, as applicable (with consequential amendments as necessary) necessary and except that the Trustee’s liability for the indemnification, remuneration and all other expenses of such the Agents (if any) shall be limited to the amounts for the time being held by the Trustee in respect of the ETP Securities such Series on the terms of the relevant this Trust Deed and which are available (after application for this purpose) and thereafter to hold all ECNs, Certificates, Coupons and Talons of such Series and all moneys, documents and records held by them in accordance with respect of ECNs, Certificates, Coupons and Talons of such Series to the relevant order of priority set out in the Conditions or the relevant Trust Deed, as applicableTrustee or (ii) to discharge such liability); or (b) deliver the ETP Securities all ECNs, Certificates, Coupons and Talons and all moneys, documents and records held by them in respect of the ETP Securities ECNs, Certificates, Coupons and Talons to or to the order of the Trustee or as the Trustee directs in such notice; notice and (B) 2.6.2 by notice in writing to the relevant Issuer and the Guarantor require it them to make all subsequent payments in respect of the ETP Securities ECNs, Coupons and Talons of such Series to or to the order of the Trustee and not to the Issuing Issuing, Paying and Paying Conversion Agent and/or the Registrar (as the case may be) with effect from the receipt issue of any such notice by to the relevant Issuer; , and from then until such notice is withdrawn, proviso (i1) to Clause 2.6 2.3 above shall cease to have effect.

Payment after a Default. At any time after an Event of Default or a Potential Event of Default has occurred in relation to a particular Series the ETP Securities, the Note Trustee may: (Aa) by notice in writing to the Relevant Issuer, the Issuing Paying Agents and Paying Agent, any the other Paying Agents, require the Registrar, Paying Agents and the Portfolio Administrator, any Transfer Agents and/or the Determination Agent, require any and all of such other Agents, or any of them until notified by the Note Trustee to the contrary, so far as permitted by applicable law law: (i) to (a) act thereafter until otherwise instructed by the Note Trustee as agent Agents of the Note Trustee under the relevant this Trust Deed and the ETP Securities mutatis mutandis Notes of such Series on the terms of the Agency Agreement, the Determination Agency Agreement, the Registrar Agreement and/or the Portfolio Administration Agreement, as applicable (with consequential amendments as necessary) necessary and except that the Note Trustee’s 's liability for the indemnification, remuneration and all other expenses of such the Paying Agents (if any) and the Transfer Agents shall be limited to the amounts for the time being held by the Note Trustee in respect of the ETP Securities such Series on the terms of the relevant this Trust Deed and which are available (after application for that purpose) and thereafter to hold all Notes, Certificates, Receipts, Coupons and Talons of such Series and all moneys, documents and records held by them in accordance with respect of Notes, Certificates, Receipts, Coupons and Talons of such Series on behalf of or to the relevant order of priority set out in the Conditions or the relevant Trust Deed, as applicableNote Trustee; and/or (ii) to discharge deliver all Notes, Certificates, Receipts, Coupons and Talons of such liability); or (b) deliver the ETP Securities Series and all moneys, documents and records held by them in respect of the ETP Securities to or Notes, Certificates, Receipts, Coupons and Talons of such Series to the order of the Note Trustee or as the Note Trustee directs in such noticenotice provided that, such notice shall be deemed not to apply to any document or record which the relevant Agent is obliged not to release by any law or regulation; and (Bb) by notice in writing to the Relevant Issuer require it the Relevant Issuer to make all subsequent payments in respect of the ETP Securities Notes, Receipts, Coupons and Talons of such Series to or to the order of the Note Trustee and not to the Issuing and Paying Agent and/or the Registrar (as the case may be) with effect from the receipt issue of any such notice by to the Relevant Issuer; and from then until such notice is withdrawn, proviso (i1) to Clause 2.6 ‎‎2.3 (Covenant to Pay) above shall cease to have effect.

Payment after a Default. At any time after an Event of Default or a Potential Event of Default has occurred in relation to the ETP SecuritiesDefault, the Trustee may: (A) 3.4.1 by notice in writing to the Issuer, Issuer and the Issuing and Paying Agent, any other Paying Agents, require the Registrar, the Portfolio Administrator, any Transfer Agents and/or the Determination Agent, require any and all of such Paying Agents, until notified by the Trustee to the contrary, so far as permitted by applicable law Applicable Law: (i) to (a) act as agent Paying Agents of the Trustee under the relevant Trust Deed and the ETP Securities mutatis mutandis relevant Notes on the terms of the Agency Agreement, the Determination Agency Agreement, the Registrar Agreement and/or the Portfolio Administration Agreement, as applicable (with consequential amendments as necessary) necessary and except that the Trustee’s liability for the indemnification, remuneration and all other expenses of such the Paying Agents (if any) shall will be limited to the amounts for the time being held by the Trustee in respect of the ETP Securities on the terms of the relevant Trust Deed and which are available (after application in accordance with the relevant order of priority set out in the Conditions or the relevant Trust Deed, as applicableClause 7) to discharge such liability); or (b) deliver and thereafter to hold the ETP Securities relevant Notes, Receipts, Coupons and Talons and all moneys, documents and records held by them in respect of the ETP Securities to or relevant Notes, Receipts, Coupons and Talons to the order of the Trustee; or (ii) to deliver the relevant Notes, Receipts, Coupons and Talons and all moneys, documents and records held by them in respect of the relevant Notes, Receipts, Coupons and Talons to the Trustee or as the Trustee directs in such notice; and (B) 3.4.2 by notice in writing to the Issuer Issuer, require it to make all subsequent payments in respect of the ETP Securities relevant Notes, Receipts, Coupons and Talons to or to the order of the Trustee and not to the Issuing and Paying Agent and/or the Registrar (as the case may be) with effect from the receipt issue of any such notice by to the Issuer; and from then until such notice is withdrawn, proviso (i) to Clause 2.6 3.2 shall cease to have effect.

Payment after a Default. At any time after an Event of Default or a Potential Event of Default has occurred in relation or the Bonds shall otherwise have become due and payable or the Trustee shall have received any money which it proposes to pay to the ETP SecuritiesBondholders under Clause 6, the Trustee may: (A) 2.4.1 by notice in writing to the Issuer, the Issuing Agents and Paying Agent, any other Paying Agents, the Registrar, require the Portfolio Administrator, any Transfer Agents and/or and the Determination Agent, require any and all of such AgentsRegistrar, until notified in writing by the Trustee to the contrary, so far as permitted by applicable law law: (i) to (a) act as agent agents of the Trustee under the relevant this Trust Deed and the ETP Securities mutatis mutandis Bonds on the terms of the Agency Agreement, the Determination Agency Agreement, the Registrar Agreement and/or the Portfolio Administration Agreement, as applicable (with consequential amendments as necessary) necessary and except save that the Trustee’s liability for the indemnification, remuneration and all other expenses of such the Agents (if any) and the Registrar shall be limited to the amounts for the time being held by the Trustee in respect of the ETP Securities Bonds on the terms of the relevant Trust Deed and which are available (after application in accordance with the relevant order of priority set out in the Conditions or the relevant this Trust Deed, as applicable) and thereafter to discharge such liability); or (b) deliver the ETP Securities hold all Certificates and all moneys, documents and records held by them in respect of the ETP Securities to or Bonds to the order of the Trustee; Bella - Trust Deed or (ii) to deliver all Certificates and all moneys, documents and records held by them in respect of the Bonds to the Trustee or as the Trustee directs in such noticenotice or subsequently, provided that this sub-Clause 2.4.1(ii) shall not apply to any documents or records which the relevant Agent or the Registrar, as the case may be, is/are obliged not to release pursuant to any law or regulation to which it/they are subject; and (B) 2.4.2 by notice in writing to the Issuer require it to make all subsequent payments in respect of the ETP Securities Bonds to or to the order of the Trustee and not to the Issuing Principal Agent and Paying Agent and/or the Registrar (as the case may be) with effect from the receipt of any such notice subsequent payment so made by the Issuer shall discharge the Issuer; and from then until ’s obligations with respect to such notice is withdrawn, proviso (i) to Clause 2.6 shall cease to have effectpayment.

Payment after a Default. At any time after an Event of Default or a Potential Event of Default has occurred in relation to the ETP Securities, the Trustee may: (A) by notice in writing to the Issuer, the Issuing and Paying Agent, any other Paying Agents, the Registrar, the Portfolio Administrator, any Transfer Agents and/or the Determination Agent, require any and all of such Agents, until notified by the Trustee to the contrary, so far as permitted by applicable law to (a) act as agent of the Trustee under the relevant Trust Deed and the ETP Securities mutatis mutandis on the terms of the Agency Agreement, the Determination Agency Agreement, the Registrar Agreement and/or the Portfolio Administration Agreement, as applicable (with consequential amendments as necessary) and except that the Trustee’s 's liability for the indemnification, remuneration and all other expenses of such Agents (if any) shall be limited to the amounts for the time being held by the Trustee in respect of the ETP Securities on the terms of the relevant Trust Deed and which are available (after application in accordance with the relevant order of priority set out in the Conditions or the relevant Trust Deed, as applicable) to discharge such liability); or (b) deliver the ETP Securities and all moneys, documents and records held by them in respect of the ETP Securities to or to the order of the Trustee or as the Trustee directs in such notice; and (B) by notice in writing to the Issuer require it to make all subsequent payments in respect of the ETP Securities to or to the order of the Trustee and not to the Issuing and Paying Agent and/or the Registrar (as the case may be) with effect from the receipt of any such notice by the Issuer; and from then until such notice is withdrawn, proviso (i) to Clause 2.6 shall cease to have effect.