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 and is continuing the Trustee may: 2.4.1 by notice in writing to the Issuer and the Agents, require the Agents (or any of them), until notified by the Trustee to the contrary, so far as permitted by any applicable law: (i) to act thereafter as Agents of the Trustee under this Trust Deed and the Notes on the terms of the Agency Agreement (with consequential (ii) to deliver all Notes and/or Class A Shares received on conversion or settlement of the Notes or the Cash Conversion Amount or the Alternative Settlement Cash Amount, as the case may be, and all moneys, documents and records held by them in respect of the Notes and/or Class A Shares to the Trustee or as the Trustee directs in such notice provided that such notice shall be deemed not to apply to any documents or records which the relevant Agent is obliged not to release by any law or regulation; and 2.4.2 by notice in writing to the Issuer require the Issuer to make all subsequent payments in respect of the Notes to, or to the order of, the Trustee and not to the Principal Paying, Transfer and Conversion Agent with effect from the issue of any such notice to the Issuer; and from then until such notice is withdrawn, proviso (1) to Clause 2.2 shall cease to have effect.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 and is continuing the Trustee may: 2.4.1 2.5.1 by notice in writing to the Issuer Issuer, the Guarantor and the Agents, require the Agents (or any of them)Agents, until notified by the Trustee to the contrary, so far as permitted by any applicable law: (i) to act thereafter as Agents of the Trustee under this Trust Deed and the Notes on the terms of the Agency Agreement (with consequentialconsequential amendments as necessary and except that the Trustee’s liability for the indemnification, remuneration and expenses of the Agents will be limited to the amounts for the time being held by the Trustee in respect of the Notes on the terms of this Trust Deed) and thereafter to hold all Notes and all moneys, documents and records held by them in respect of Notes to the order of the Trustee; or (ii) to deliver all Notes and/or Class A Shares received on conversion or settlement of the Notes or the Cash Conversion Amount or the Alternative Settlement Cash Amount, as the case may be, and all moneys, documents and records held by them in respect of the Notes and/or Class A Shares to the Trustee or as the Trustee directs in such notice provided that such notice shall be deemed not to apply to any documents or records which the relevant Agent is obliged not to release by any law or regulationnotice; and 2.4.2 2.5.2 by notice in writing to the Issuer and the Guarantor, require the Issuer each of them to make all subsequent payments in respect of the Notes to, to or to the order of, of the Trustee and not to the Principal Paying, Transfer and Conversion Paying Agent with effect from the issue of any such notice to the IssuerIssuer and the Guarantor; and from then until such notice is withdrawn, proviso (1) to Clause 2.2 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 and is continuing the Trustee may: 2.4.1 by notice in writing to the Issuer Issuer, the Guarantor and the Agents, require the Agents (or any of them)Agents, until notified by the Trustee to the contrary, so far as permitted by any applicable law: (i) to act thereafter as Agents of the Trustee under this Trust Deed and the Notes on the terms of the Agency Agreement (with consequentialconsequential amendments as necessary and except that the Trustee’s liability for the indemnification, remuneration and expenses of the Agents will be limited to the amounts for the time being held by the Trustee in respect of the Notes on the terms of this Trust Deed and available for such purpose) and thereafter to hold all Notes and all moneys, documents and records held by them in respect of Notes to the order of the Trustee; or (ii) to deliver all Notes and/or Class A Shares received on conversion or settlement of the Notes or the Cash Conversion Amount or the Alternative Settlement Cash Amount, as the case may be, and all moneys, documents and records held by them in respect of the Notes and/or Class A Shares to the Trustee or as the Trustee directs in such notice provided that such notice shall be deemed not to apply to any documents or records which the relevant Agent is obliged not to release by any law or regulationnotice; and 2.4.2 by notice in writing to the Issuer and the Guarantor, require the Issuer them to make all subsequent payments in respect of the Notes to, to or to the order of, of the Trustee and not to the Principal Paying, Transfer and Conversion Paying Agent with effect from the issue of any such notice to the IssuerIssuer and the Guarantor; and from then until such notice is withdrawn, proviso (1) to Clause 2.2 2.2.1 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 and is continuing the Trustee may: 2.4.1 by notice in writing to the Issuer Issuer, the Guarantor and the Agents, require the Agents (or any of them)Agents, until notified by the Trustee to the contrary, so far as permitted by any applicable law: (ia) to act thereafter as Agents of the Trustee under this Trust Deed and the Notes on the terms of the Agency Agreement (with consequentialconsequential amendments as necessary and except that the Trustee's liability for the indemnification, remuneration and expenses of the Agents will be limited to the amounts for the time being held by the Trustee in respect of the Notes on the terms of this Trust Deed) and thereafter to hold all Notes and all moneys, documents and records held by them in respect of Notes to the order of the Trustee; or (iib) to deliver all Notes and/or Class A Shares received on conversion or settlement of the Notes or the Cash Conversion Amount or the Alternative Settlement Cash Amount, as the case may be, and all moneys, documents and records held by them in respect of the Notes and/or Class A Shares to the Trustee or as the Trustee directs in such notice provided that such notice shall be deemed not to apply to any documents or records which the relevant Agent is obliged not to release by any law or regulationnotice; and 2.4.2 by notice in writing to the Issuer and the Guarantor, require the Issuer them to make all subsequent payments in respect of the Notes to, to or to the order of, of the Trustee and not to the Principal Paying, Transfer and Conversion Paying Agent with effect from the issue of any such notice to the IssuerIssuer and the Guarantor; and from then until such notice is withdrawn, proviso (1) to Clause 2.2 2.2.1 shall cease to have effect.