Replacement of Provisions with Respect to Redemption Due to a Capital Event. With respect to the Tier 1 Notes only, Section 12.09 of the Base Indenture is hereby replaced with the following:
Replacement of Provisions with Respect to Redemption Due to a Capital Event. With respect to the Tier 1 Notes only, Section 12.09 of the Base Indenture is hereby replaced with the following: Redemption Due to Capital Event. Unless otherwise provided as contemplated by Section 3.01 with respect to the Tier 1 Notes of any series, if, on or after the issue date of the Tier 1 Notes of any series, there is a Capital Event, the Tier 1 Notes of such series may be redeemed, in whole but not in part, at the option of the Company, subject to the prior consent of the relevant Regulator as required under Applicable Banking Regulations, and may only take place in accordance with Applicable Banking Regulations then in force, at any time, at the Redemption Price.
