Common use of Redemption for an Administrator/Benchmark Event Clause in Contracts

Redemption for an Administrator/Benchmark Event. In the event that an Administrator/Benchmark Event occurs, the Issuer may (at its option): (i) instruct the Calculation Agent to make such adjustment to the conditions of the Notes as it may determine appropriate to account for the relevant event or circumstance; or (ii) having given not less than 10 nor more than 30 days' notice to the Noteholders in accordance with Condition 13 (which notice shall be irrevocable), on expiry of such notice redeem all, but not some only, of the Notes, each Note being redeemed at its Early Redemption Amount referred to in Condition 6.7 and no further interest will be payable since the immediately preceding Interest Payment Date or, if none, the Issue Date. For the purposes of this Condition 6.12:

Redemption for an Administrator/Benchmark Event. In the event that an Administrator/Benchmark Event occurs, the Issuer may (at its option): (i) instruct the Calculation Agent to make such adjustment to the conditions Terms and Conditions of the Notes as it may determine appropriate to account for the relevant event or circumstance; or (ii) having given not less than 10 nor more than 30 days' notice to the Noteholders in accordance with Condition 13 (which notice shall be irrevocable), on expiry of such notice redeem all, but not some only, of the Notes, each Note being redeemed at its Early Redemption Amount referred to in Condition 6.7 and no further interest will be payable since the immediately preceding Interest Payment Date or, if none, the Issue Date. For the purposes of this Condition 6.12: