Proceedings for Winding-up. If (i) an order is made or an effective resolution is passed for the Winding-Up of the Issuer or (ii) the Issuer shall not make payment in respect of the Securities for a period of ten days or more after the date on which such payment is due, the Issuer shall be deemed to be in default under the Securities and Holders holding not less than 15 per cent. of the aggregate principal amount of the outstanding Securities may institute proceedings for the Winding-Up of the Issuer and/or prove in the Winding-Up of the Issuer and/or claim in the liquidation of the Issuer for such payment.
Proceedings for Winding-up. If the Tier 1 BCNs become due and payable (whether pursuant to Condition 12(a)(i) above or Condition 8) and are not paid when so due and payable or any other payment obligation of the Issuer under or arising in respect of the Tier 1 BCNs is not duly met, satisfied or performed (including pursuant to Condition 7(c)), each Holder may, at its discretion, institute proceedings for the winding-up, dissolution or liquidation of the Issuer and/or prove in the winding-up, dissolution or liquidation of the Issuer and/or claim in the dissolution or liquidation of the Issuer for such payment, provided, however, that each Holder may only take any such action on or after the failure by the Issuer to make payments as described in this Condition 12(a)(ii), but may, without prejudice to its rights under the Guarantee, take no further or other action to enforce, prove or claim for any such payment. No payment in respect of the Tier 1 BCNs may be made by the Issuer pursuant to Condition 12(a)(i) above, nor will any Holder accept the same, otherwise than during or after a winding-up, dissolution or liquidation of the Issuer, unless the Issuer has given prior written notice to, and received no objection from, the Regulator which the Issuer shall confirm in writing to the Principal Paying and Conversion Agent.
Proceedings for Winding-up. Upon (i) an order being made or an effective resolution being passed for the Winding-Up of the Company, (ii) the sale of the Company’s business as part of a scheme procedure, except a solvent sale solely for the purposes of a reorganization, reconstruction, merger or amalgamation the terms of which have previously been approved by an Extraordinary Resolution or (iii) the Company failing to make payment in respect of the Securities for a period of 15 Business Days or more after the date on which such payment is due, the Company shall be deemed to be in default under the Indenture and the Securities (each, an “Event of Default”); provided that any failure to pay any Distribution (including any Arrears of Distribution, any Additional Distribution Amount accrued and any Additional Amounts) deferred in accordance with Section 2.05(d) shall not constitute an Event of Default. Upon the occurrence of any Event of Default that is continuing, the Trustee may, subject to the provisions of Section 5.04, institute proceedings for the Winding-Up of the Company and/or prove and/or claim in the Winding-Up of the Company for the principal amount of the Securities together with any Distribution, any Arrears of Distribution and any Additional Distribution Amount accrued and any Additional Amounts (if any) to the day prior to the commencement of the Winding-Up.
Proceedings for Winding-up. If a Company Subordinated Event of Default with respect to the Convertible Securities of any series occurs and is continuing, the Trustee or the Holders of the Convertible Securities of such series, subject to Sections 7.06, 7.07 and 7.08, may, at its or their discretion, institute proceedings for the winding-up, dissolution or liquidation of the Company and/or prove in the winding-up, dissolution or liquidation of the Company and/or claim in the dissolution or liquidation of the Company for the relevant payment, but may, without prejudice to its or their rights under the Guarantee, take no further or other action to enforce, prove or claim for any such payment. No payment in respect of the Convertible Securities of such series may be made by the Company pursuant to Section 7.01(a)(i) above, nor will the Trustee or any Holder accept the same, otherwise than during or after a winding-up, dissolution, administration or liquidation of the Company, unless the Company has given prior written notice to, and received no objection from, FINMA, which the Company shall confirm in writing to the Trustee and Paying and Conversion Agent.
Proceedings for Winding-up. If the ECNs become due and payable (whether pursuant to Condition 14(a) or Condition 10) and are not paid when so due and payable or any other payment obligation of the Issuer or [the Guarantor]*/[the Guarantors]** under or arising in respect of the ECNs, the Coupons or the Trust Deed is not duly met, satisfied or performed (including pursuant to Condition 9(c)), the Trustee at its discretion may, and if so requested by holders of at least one-quarter in principal amount of the ECNs then outstanding or if so directed by an Extraordinary Resolution shall (but in each case subject to Condition 14(d) below), institute proceedings for the winding-up of the Issuer and/or [the Guarantor]*/[the relevant Guarantor or Guarantors]** and/or prove in the winding-up of the Issuer and/or [the Guarantor]*/[the relevant Guarantor or Guarantors]** and/or claim in the liquidation of the Issuer and/or [the Guarantor]*/[the relevant Guarantor or Guarantors]** for such payment (subject to Condition 3(b) or 4(b), as the case may be), provided, however, that the Trustee may only take any such action on or after the failure by the Issuer and/or [the Guarantor]*/[the relevant Guarantor or Guarantors]** to make payments as described in this Condition 14(b), but may take no further or other action to enforce, prove or claim for any such payment. No payment in respect of the ECNs, the Coupons or the Trust Deed may be made by the Issuer or [the]*/[either]** Guarantor pursuant to Condition 14(a), nor will the Trustee accept the same, otherwise than during or after a winding-up or liquidation of the Issuer or, as appropriate, [the Guarantor]*/[the relevant Guarantor or Guarantors]**, unless the Issuer or, as appropriate, [the Guarantor]*/[the relevant Guarantor]** has given prior written notice (with a copy to the Trustee) to, and received no objection from, the FSA which the Issuer or, as appropriate, [the Guarantor]*/[the relevant Guarantor]** shall confirm in writing to the Trustee. 131
Proceedings for Winding-up. . . . If (i) there is a final and effective court order or effective resolution for the winding-up, liquidation or similar proceedings of the Issuer (except, in any such case, a solvent winding-up solely for the purposes of a reorganisation, reconstruction or amalgamation or the substitution in place of the Issuer, of a successor in business, or, as the case may be, the terms of which reorganisation, reconstruction, amalgamation or substitution have been previously approved by an Extraordinary Resolution (as defined in the Securities Trust Deed)), or (ii) the Issuer shall not make payment in respect of the Securities for a period of 14 days or more after the date on which such payment is due, the Issuer shall be deemed to be in default under the Securities Trust Deed and the Securities and the Trustee may, subject to the provisions of Securities Condition 10.4, institute proceedings for the Winding-Up of the Issuer and/or prove in the Winding-Up of the Issuer and/or claim in the liquidation of the Issuer for the principal amount of the Securities and any Distribution accrued but unpaid, together with all outstanding Arrears of Distribution and Additional Distribution Amounts.
Proceedings for Winding-up. If (i) an order is made or an effective resolution is passed for the Winding-Up of the Issuer or (ii) the Issuer has elected to pay a Distribution and fails to pay such Distribution within 30 days of the relevant Distribution Payment Date, the Issuer shall be deemed to be in default under the Trust Deed and the Securities and the Trustee may, subject to the provisions of Condition 8(d), institute proceedings for the Winding-Up of the Issuer and/or prove in the Winding-Up of the Issuer and/or claim in the liquidation of the Issuer for such claim as is set out in Condition 3(b).
Proceedings for Winding-up. If (i) an order is made or an effective resolution is passed for the bankruptcy, winding-up, liquidation, receivership or similar proceedings of the Relevant Issuer and/or the Guarantor or
Proceedings for Winding-up. If (i) an order is made or an effective resolution is passed for the bankruptcy, winding-up, liquidation, receivership or similar proceedings of the relevant Issuer and/or the Guarantor or (ii) the relevant Issuer fails to make payment in respect of the Perpetual Securities when due or the Guarantor fails to pay any amount under the Guarantee when due and, in each case, such failure continues for a period of more than 14 days (in the case of distribution or other amounts under the Perpetual Securities) or seven days (in the case of principal) (together, the “Enforcement Events”), the relevant Issuer or, as the case may be, the Guarantor shall be deemed to be in default under the Trust Deed and the Perpetual Securities or, as the case may be, the Guarantee and the Trustee may, subject to the provisions of Condition 9(d), institute proceedings for the winding-up of the relevant Issuer and/or the Guarantor and/or prove in the winding-up of the relevant Issuer and/or the Guarantor and/or claim in the liquidation of the relevant Issuer and/or the Guarantor for such payment.
Proceedings for Winding-up. If the Notes become due and repayable pursuant to the Conditions of the Notes and are not paid when so due and repayable, the Trustee at its discretion may institute proceedings for the winding-up of the Issuer and/or prove for any amounts due and repayable pursuant to the terms of the Notes and claim in the liquidation of the Issuer but may take no further action to enforce the obligations of the Issuer for payment of any principal or interest in respect of the Notes. No payment in respect of the Notes may be made by the Issuer pursuant to Condition 10.1, nor will any Noteholder and/or the Trustee accept the same otherwise than during or after a winding-up of the Issuer, save with the prior consent of the FSA. The Issuer undertakes to use best efforts to obtain such consent as soon as possible upon receipt of the notice from the Trustee and or the holder of any Note as referred to in Condition 10.1.
