Common use of Payment etc. following Event of Default Clause in Contracts

Payment etc. following Event of Default. At any time after an Event of Default or Potential Event of Default or any of the events described in Condition 2(b)(ii) (in relation to Tier 2 Notes) shall have occurred, the Trustee may: (a) by notice in writing to the Issuer, the Agent, the Calculation Agent and the other Paying Agents and (in the case of CMU Notes) the CMU Lodging and Paying Agent require the Agent, the Calculation Agent and the other Paying Agents and (in the case of CMU Notes) the CMU Lodging and Paying Agent pursuant to the Agency Agreement or, as the case may be, the Calculation Agency Agreement, until notified by the Trustee to the contrary and so far as permitted by any applicable law: (i) to act as Agent, Calculation Agent and other Paying Agents and (in the case of CMU Notes) the CMU Lodging and Paying Agent respectively of the Trustee under the Agency Agreement or, as the case may be, the Calculation Agency Agreement in relation to payments to be made of sums due in respect of Notes and Coupons by or on behalf of the Trustee under the provisions of this Trust Deed on the terms of the Agency Agreement or, as the case may be, the Calculation 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 Agent, the Calculation Agent and the other Paying Agents and (in the case of CMU Notes) the CMU Lodging and Paying Agent will be limited to the amounts for the time being held by the Trustee in respect of the Notes of the relevant Series on the terms of this Trust Deed) and thereafter to hold all Notes, Coupons and all moneys, documents and records held by them in respect of Notes and Coupons on behalf of the Trustee; or (ii) to deliver all Notes, Coupons and all moneys, documents and records held by them in respect of Notes and Coupons to the Trustee or as the Trustee directs in such notice; and/or (b) by notice in writing to the Issuer, require the Issuer to make all subsequent payments in respect of the Notes and Coupons to or to the order of the Trustee and not to the Agent or other Paying Agents or (in the case of CMU Notes) the CMU Lodging and Paying Agent. With effect from the issue of any such notice to the Issuer and until such notice is withdrawn proviso (a) to subclause 2.2 relating to the Notes shall cease to have effect.

Payment etc. following Event of Default. At any time after an Event of Default or Potential Event of Default or any of the events described in Condition 2(b)(ii) (in relation to Tier 2 Notes) shall have occurred, the Trustee may: (a) by notice in writing to the Issuer, the Agent, the Calculation Agent and the other Paying Agents and (in the case of CMU Notes) the CMU Lodging and Paying Agent require the Agent, the Calculation Agent and the other Paying Agents and (in the case of CMU Notes) the CMU Lodging and Paying Agent pursuant to the Agency Agreement or, as the case may be, the Calculation Agency Agreement, until notified by the Trustee to the contrary and so far as permitted by any applicable law: (i) to act as Agent, Calculation Agent and other Paying Agents and (in the case of CMU Notes) the CMU Lodging and Paying Agent respectively of the Trustee under the Agency Agreement or, as the case may be, the Calculation Agency Agreement in relation to payments to be made of sums due in respect of Notes and Coupons by or on behalf of the Trustee under the provisions of this Trust Deed on the terms of the Agency Agreement or, as the case may be, the Calculation 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 Agent, the Calculation Agent and the other Paying Agents and (in the case of CMU Notes) the CMU Lodging and Paying Agent will be limited to the amounts for the time being held by the Trustee in respect of the Notes of the relevant Series on the terms of this Trust Deed) and thereafter to hold all Notes, Coupons and all moneys, documents and records held by them in respect of Notes and Coupons on behalf of the Trustee; or (ii) to deliver all Notes, Coupons and all moneys, documents and records held by them in respect of Notes and Coupons to the Trustee or as the Trustee directs in such notice; and/or (b) by notice in writing to the Issuer, require the Issuer to make all subsequent payments in respect of the Notes and Coupons to or to the order of the Trustee and not to the Agent or other Paying Agents or (in the case of CMU Notes) the CMU Lodging and Paying Agent. With effect from the issue of any such notice to the Issuer and until such notice is withdrawn proviso withdrawn, proviso (a) to subclause 2.2 relating to the Notes shall cease to have effect.

Payment etc. following Event of Default. At any time after an Event of Default or Potential Event of Default or any of the events described in Condition 2(b)(ii) (in relation to Tier 2 Notes) shall have occurred, the Trustee may: (a) by notice in writing to the Issuer, the Agent, the Calculation Agent and the other Paying Agents and (in the case of CMU Notes) the CMU Lodging and Paying Agent require the Agent, the Calculation Agent and the other Paying Agents and (in the case of CMU Notes) the CMU Lodging and Paying Agent pursuant to the Agency Agreement or, as the case may be, the Calculation Agency Agreement, until notified by the Trustee to the contrary and so far as permitted by any applicable law: (i) to act as Agent, Calculation Agent and other Paying Agents and (in the case of CMU Notes) the CMU Lodging and Paying Agent respectively of the Trustee under the Agency Agreement or, as the case may be, the Calculation Agency Agreement in relation to payments to be made of sums due in respect of Notes and Coupons by or on behalf of the Trustee under the provisions of this Trust Deed on the terms of the Agency Agreement or, as the case may be, the Calculation 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 Agent, the Calculation Agent and the other Paying Agents and (in the case of CMU Notes) the CMU Lodging and Paying Agent will be limited to the amounts for the time being held by the Trustee in respect of the Notes of the relevant Series on the terms of this Trust Deed) and thereafter to hold all Notes, Coupons and all moneys, documents and records held by them in respect of Notes and Coupons on behalf of the Trustee; or (ii) to deliver all Notes, Coupons and all moneys, documents and records held by them in respect of Notes and Coupons to the Trustee or as the Trustee directs in such notice; and/or (b) by notice in writing to the Issuer, require the Issuer to make all subsequent payments in respect of the Notes and Coupons to or to the order of the Trustee and not to the Agent or other Paying Agents or (in the case of CMU Notes) the CMU Lodging and Paying Agent. With effect from the issue of any such notice to the Issuer and until such notice is withdrawn proviso (a) to subclause 2.2 of this Clause relating to the Notes shall cease to have effect.

Payment etc. following Event of Default. At any time after an Event of Default or Potential Event of Default or any of the events described in Condition 2(b)(ii) (in relation to Tier 2 Notes) shall have occurred, the Trustee may: (a) by notice in writing to the Issuer, the Agent, the Calculation Agent and the other Paying Agents and (in the case of CMU Notes) the CMU Lodging and Paying Agent require the Agent, the Calculation Agent and the other Paying Agents and (in the case of CMU Notes) the CMU Lodging and Paying Agent pursuant to the Agency Agreement or, as the case may be, the Calculation Agency Agreement, until notified by the Trustee to the contrary and so far as permitted by any applicable law: (i) to act as Agent, Calculation Agent and other Paying Agents and (in the case of CMU Notes) the CMU Lodging and Paying Agent respectively of the Trustee under the Agency Agreement or, as the case may be, the Calculation Agency Agreement in relation to payments to be made of sums due in respect of Notes and Coupons by or on behalf of the Trustee under the provisions of this Trust Deed on the terms of the Agency Agreement or, as the case may be, the Calculation 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 Agent, the Calculation Agent and the other Paying Agents and (in the case of CMU Notes) the CMU Lodging and Paying Agent will be limited to the amounts for the time being held by the Trustee in respect of the Notes of the relevant Series on the terms of this Trust Deed) and thereafter to hold all Notes, Coupons and all moneys, documents and records held by them in respect of Notes and Coupons on behalf of the Trustee; or (ii) to deliver all Notes, Coupons and all moneys, documents and records held by them in respect of Notes and Coupons to the Trustee or as the Trustee directs in such notice; and/or (b) by notice in writing to the Issuer, require the Issuer to make all subsequent payments in respect of the Notes and Coupons to or to the order of the Trustee and not to the Agent or other Paying Agents or (in the case of CMU Notes) the CMU Lodging and Paying Agent. With effect from the issue of any such notice to the Issuer and until such notice is withdrawn withdrawn, proviso (a) to subclause 2.2 relating to the Notes shall cease to have effect.