Common use of Payment after Default Clause in Contracts

Payment after Default. 2.4.1 At any time after a Potential Event of Default or an Event of Default has occurred and is continuing, or the Notes shall otherwise have become due and payable or the Trustee shall have received any money which it proposes to pay under Clause 7.1 to the Holders, the Trustee may: (i) by notice in writing to the Issuer, the Guarantors and the Agents, require the Agents, until notified by the Trustee to the contrary, so far as permitted by any applicable law: (a) to act thereafter as Agents of the Trustee under this Trust Deed and the Notes on the terms of the Paying and Transfer Agency Agreement (with consequential amendments as necessary and except that the Trustee’s liability for the indemnification, remuneration and all other out-of-pocket 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 this 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 (b) to deliver all Notes, moneys, documents and records held by them in respect of the Notes to the Trustee or as the Trustee shall direct in such notice but this Clause 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/or (ii) by notice in writing to the Issuer or, where applicable, a Guarantor require it to make all subsequent payments in respect of the Notes to or to the order of the Trustee and not to the Principal Paying and Transfer Agent. With effect from the issue of any such notice to the Issuer or, where applicable, a Guarantor and until such time as the notice is withdrawn, proviso (1) to Clause 2.2 shall not apply.

Payment after Default. 2.4.1 At any time after a Potential Event of Default or an Event of Default has occurred and is continuing, or the Notes shall otherwise have become due and payable or the Trustee shall have received any money which it proposes to pay under Clause 7.1 to the Holders, the Trustee may: (i) by notice in writing to the Issuer, the Guarantors and the Agents, require the Agents, until notified by the Trustee to the contrary, so far as permitted by any applicable law: (a) to act thereafter as Agents of the Trustee under this Trust Deed and the Notes on the terms of the Paying and Transfer Agency Agreement (with consequential amendments as necessary and except that the Trustee’s liability for the indemnification, remuneration and all other out-of-pocket 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) Deed and available for this purpose 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 (b) to deliver all Notes, moneys, documents and records held by them in respect of the Notes to the Trustee or as the Trustee shall direct in such notice but this Clause 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/or (ii) by notice in writing to the Issuer or, where applicable, a Guarantor require it to make all subsequent payments in respect of the Notes to or to the order of the Trustee and not to the Principal Paying and Transfer Agent. With effect from the issue of any such notice to the Issuer or, where applicable, a Guarantor and until such time as the notice is withdrawn, proviso (1) to Clause 2.2 shall not apply.

Payment after Default. 2.4.1 At any time after a Potential Event of Default has occurred and whilst the same is subsisting or after an Event of Default has occurred and is continuing, or the Notes shall otherwise have become due and payable or the Trustee shall have received any money which it proposes to pay under Clause 7.1 to the Holders, continuing the Trustee may: (ia) by notice in writing to the IssuerCompany, the Guarantors Guarantor and the Agents, require the Agents, until notified by the Trustee to the contrary, so far as permitted by any applicable law: (ai) to act thereafter as Agents of the Trustee in relation to payments to be made by or on behalf of the Trustee under this Trust Deed and the Notes these presents on the terms of the Paying and Transfer Agency Agreement (with consequential amendments as necessary and except save that the Trustee’s 's liability for the indemnification, remuneration and all other out-of-pocket expenses of the Agents will be limited to the amounts for the time being held by the Trustee in respect of the Notes Bonds on the terms of this Trust Deedthese presents) and available for this purpose and thereafter to hold all Notes Bonds and Coupons and all moneys, documents and records held by them in respect of Notes Bonds and Coupons to the order of the Trustee; or: and/or (bii) to deliver all Notes, Bonds and Coupons and all moneys, documents and records held by them in respect of the Notes Bonds and Coupons to the Trustee or as the Trustee shall direct directs in such notice, provided that such notice but this Clause 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/orand (iib) by notice in writing to the Issuer or, where applicable, a Company and the Guarantor require it each of them to make all subsequent payments in respect of the Notes Bonds and the Coupons to or to the order of the Trustee and not to the Principal Paying and Transfer Agent. With effect from If the issue Potential Event of any such Default in respect of which the Trustee has given notice in writing to the Issuer orCompany, where applicable, a the Guarantor and until such time the Agents as aforesaid shall cease to subsist and Provided that (i) no other Potential Event of Default shall have occurred and be subsisting or be about to occur; or (ii) no Event of Default shall have occurred and be continuing or be about to occur; or (iii) the Bonds shall not have been declared immediately due and repayable, the Trustee shall by notice in writing to the Company, the Guarantor and the Agents require the Agents to cease acting forthwith as the notice is withdrawn, proviso (1) to Agents of the Trustee. The provisions of this Clause 2.2 shall not apply2.5 may apply on any number of occasions.

Payment after Default. 2.4.1 At any Any time after an Event of Default or a Potential Event of Default or an Event of Default has occurred and is continuing, or the Notes shall have otherwise have become due and payable or the Trustee shall have received any money which it proposes to pay under Clause 7.1 to the Holdersrepayable, the Trustee may: (i) by notice in writing to the Issuer, the Guarantors Guarantor, and the Agents, require the Agents, until notified by the Trustee to the contrary, so far as permitted by any applicable law, require the Agents: (aA) to act thereafter as Agents Principal Paying and Transfer Agent and Paying and Transfer Agent, respectively, of the Trustee in relation to payments to be made by or on behalf of the Trustee under this Trust Deed and the Notes provisions of the Agency Agreement on the terms of provided in the Paying and Transfer Agency Agreement (with consequential amendments as necessary and except save that the Trustee’s 's liability under any provision thereof for the indemnification, remuneration and all other out-of-pocket expenses indemnification of the Paying and Transfer Agents will shall be limited to the amounts for the time being held by the Trustee in respect of the Notes on the terms trusts of this Trust Deed) Deed in relation to the Notes and available for this purpose such purpose) and thereafter to hold all Notes and all moneyssums, documents and records held by them in respect of Notes on behalf of the Trustee; or (ii) to deliver up all Notes and all sums, documents and records held by them in respect of Notes to the order of the Trustee; or (b) to deliver all Notes, moneys, documents and records held by them in respect of the Notes to the Trustee or as the Trustee shall direct in such notice but this Clause provided that such notice shall be deemed not to apply to any documents or records which the relevant Paying and Transfer Agent is obliged not to release by any law or regulation; and/orand (ii) 2.4.2 by notice in writing to the Issuer or, where applicable, a and the Guarantor require it each of them to make all subsequent payments in respect of the Notes to or to the order of the Trustee so that the Trustee may direct payment in accordance with the terms of the Subordination Deed and not to the Principal Paying and Transfer Agent. With , with effect from the issue of any such notice to the Issuer or, where applicable, a Guarantor and until such time as the notice is withdrawn, proviso (1i) and (ii) to Clause 2.2 shall not apply.Clause

Payment after Default. 2.4.1 At any time after a Potential Event of Default or an Event of Default has occurred and is continuing, or the Notes shall otherwise have become due and payable or the Trustee shall have received any money which it proposes to pay under Clause 7.1 to the Holdersoccurred, the Trustee may: (i) by notice in writing to the Issuer, the Guarantors Issuer and the Agents, require the Agents, until notified by the Trustee to the contrary, so far as permitted by any applicable law: (a) to act thereafter as Agents of the Trustee under this Trust Deed and the Notes on the terms of the Paying Paying, Transfer and Transfer Conversion Agency Agreement (with consequential amendments as necessary and except that the Trustee’s liability for the indemnification, remuneration and all other out-of-pocket 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) Deed and available for this purpose the purpose) and thereafter to hold all Notes and all moneys, documents and records held by them in respect of Notes and/or Common Shares to the order of the Trustee; or (b) to deliver all Notes, all moneys, documents and records held by them in respect of the Notes and, if the Trustee so directs in such notice or subsequently so directs, the relevant Common Shares, to the Trustee or as the Trustee shall direct in directs provided that such notice but this Clause 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/orand (ii) by notice in writing to the Issuer or, where applicable, a Guarantor require it to make all subsequent payments in respect of the Notes to or to the order of the Trustee and not to the Principal Paying Paying, Transfer and Transfer Conversion Agent. With effect from the issue of any such notice to the Issuer or, where applicable, a Guarantor and until such time as the notice is withdrawn, proviso (1i) to Clause 2.2 shall not apply.

Payment after Default. 2.4.1 At any Any time after an Event of Default or a Potential Event of Default or an Event of Default has occurred and is continuing, or the Subordinated Notes shall have otherwise have become due and payable or the Trustee shall have received any money which it proposes to pay under Clause 7.1 to the Holdersrepayable, the Trustee may: (i) by notice in writing to the Issuer, the Guarantors Issuer and the Agents, require the Agents, until notified by the Trustee to the contrary, so far as permitted by any applicable law, require the Agents: (a) to act thereafter as Agents Principal Paying and Transfer Agent and Paying and Transfer Agent, respectively, of the Trustee in relation to payments to be made by or on behalf of the Trustee under this Trust Deed and the Notes provisions of the Agency Agreement on the terms of provided in the Paying and Transfer Agency Agreement (with consequential amendments as necessary and except save that the Trustee’s 's liability under any provision thereof for the indemnification, remuneration and all other out-of-pocket expenses indemnification of the Paying and Transfer Agents will shall be limited to the amounts for the time being held by the Trustee in respect of the Notes on the terms trusts of this Trust Deed) Deed in relation to the Subordinated Notes and available for this purpose such purpose) and thereafter to hold all Subordinated Notes and all moneyssums, documents and records held by them in respect of Subordinated Notes to the order on behalf of the Trustee; or (b) to deliver up all Notes, moneysSubordinated Notes and all sums, documents and records held by them in respect of the Subordinated Notes to the Trustee or as the Trustee shall direct in such notice but this Clause provided that such notice shall be deemed not to apply to any documents or records which the relevant Paying and Transfer Agent is obliged not to release by any law or regulation; and/orand (ii) 2.4.2 by notice in writing to the Issuer or, where applicable, a Guarantor require it to make all subsequent payments in respect of the Subordinated Notes to or to the order of the Trustee and not to the Principal Paying and Transfer Agent. With , with effect from the issue of any such notice to the Issuer or, where applicable, a Guarantor and until such time as the notice is withdrawn, proviso (1i) and (ii) to Clause 2.2 shall not applyapply as though references therein to the Principal Paying and Transfer Agent are references to the Trustee.