Common use of Regulatory Change Event Clause in Contracts

Regulatory Change Event. if “Regulatory Change Event” is specified as applicable, (a) an Adverse Regulatory Change Event under limb (i) of the definition, the Issuer will immediately inform the Trustee of such event and will use all reasonable efforts to arrange the substitution of another special purpose entity approved by the Trustee in the Issuer’s place as the principal debtor under the Notes. If the Issuer, after using all reasonable efforts, is unable to arrange such substitution within a commercially reasonable time, such commercially reasonable time as determined by the Calculation Agent, a Regulatory Change Event will be deemed to have occurred; or (b) an Adverse Regulatory Change Event under limb (ii) or (iii) of the definition, the Calculation Agent will immediately inform the Trustee of such event and will use all reasonable efforts to arrange for amendment to the Notes, substitution of the Issuer or any other change, as applicable, in each case subject to and in accordance with the provisions of the Trust Deed. If the Calculation Agent or the Issuer (as the case may be), after using all reasonable efforts is unable to facilitate and/or effect an amendment of the Notes, substitute the Issuer or make any other change, as the case may be, within a commercially reasonable time, such commercially reasonable time as determined by the Calculation Agent, a Regulatory Change Event will be deemed to have occurred; or

Regulatory Change Event. if “Regulatory Change Event” is specified as applicable, (a) an Adverse Regulatory Change Event under limb (i) of the definition, the Issuer will immediately inform the Trustee of such event and will use all reasonable efforts to arrange the substitution of another special purpose entity approved by the Trustee in the Issuer’s place as the principal debtor under the Notes. If the Issuer, after using all reasonable efforts, is unable to arrange such substitution within a commercially reasonable time, such commercially reasonable time as determined by the Calculation Agent, a Regulatory Change Event will be deemed to have occurred; or (b) an Adverse Regulatory Change Event under limb limbs (ii) or (iii) of the definition, the Calculation Agent will immediately inform the Trustee of such event and will use all reasonable efforts to arrange for amendment to the Notes, substitution of the Issuer or any other change, as applicable, in each case subject to and in accordance with the provisions of the Trust Deed. If the Calculation Agent or the Issuer (as the case may be), after using all reasonable efforts is unable to facilitate and/or effect an amendment of the Notes, substitute the Issuer or make any other change, as the case may be, within a commercially reasonable time, such commercially reasonable time as determined by the Calculation Agent, a Regulatory Change Event will be deemed to have occurred; or