Common use of Secured Creditors Clause in Contracts

Secured Creditors. (1) The Bond Trustee, as regards the exercise and performance of all powers, rights, trusts, authorities, duties and discretions of the Bond Trustee in respect of the Collateral, under or pursuant to this Agreement or any other Transaction Document to which the Bond Trustee is a party or the rights or benefits in respect of which are comprised in the Collateral (except where specifically provided otherwise), has regard only to the interests of the Holders of the Covered Bonds while any of the Covered Bonds remain outstanding and shall, subject to applicable law, not be required to have regard to the interests of any other Secured Creditor or any other person or to act upon or comply with any direction or request of any other Secured Creditor or any other person whilst any amount remains owing to any Holders of the Covered Bonds. (2) In connection with the exercise by it of any of its trusts, powers, authorities or discretions hereunder (including, without limitation, any modification, waiver, authorization, determination or substitution), the Bond Trustee shall have regard to the general interests of the Covered Bondholders of each Series as a class (but shall not have regard to any interests arising from circumstances particular to individual Covered Bondholders, Receiptholders or Couponholders whatever their number) and, in particular but without limitation, shall not have regard to the consequences of such exercise for individual Covered Bondholders, Receiptholders and Couponholders (whatever their number) resulting from their being for any purpose domiciled or resident in, or otherwise connected with, or subject to the jurisdiction of, any particular territory or any political sub division thereof and the Bond Trustee shall not be entitled to require, nor shall any Covered Bondholder, Receiptholder or Couponholder be entitled to claim, from the Issuer, either of the Guarantor, the Bond Trustee or any other person any indemnification or payment in respect of any tax consequences of any such exercise upon individual Covered Bondholders, Receiptholders and/or Couponholders, except to the extent already provided for in Condition 8 (Taxation) of the Trust Deed and/or in any undertaking or covenant given in addition thereto or in substitution therefor hereunder. (3) If, in connection with the exercise of its powers, trusts, authorities or discretions, the Bond Trustee is of the opinion that the interests of the Holders of the Covered Bonds of any one or more Series would be materially prejudiced thereby, the Bond Trustee shall not exercise such power, trust, authority or discretion without the approval of such Holders of the Covered Bonds by Extraordinary Resolution or by a direction in writing of such Holders of the Covered Bonds of not less than 25% of the aggregate Principal Amount Outstanding of the Covered Bonds of all Series then outstanding (taken together and converted into euros at the rate specified in the applicable Final Terms).

Secured Creditors. (1) The Bond Trustee, as regards the exercise and performance of all powers, rights, trusts, authorities, duties and discretions of the Bond Trustee in respect of the Collateral, under or pursuant to this Agreement or any other Transaction Document to which the Bond Trustee is a party or the rights or benefits in respect of which are comprised in the Collateral (except where specifically provided otherwise), has regard only to the interests of the Holders of the Covered Bonds while any of the Covered Bonds remain outstanding and shall, subject to applicable law, not be required to have regard to the interests of any other Secured Creditor or any other person or to act upon or comply with any direction or request of any other Secured Creditor or any other person whilst any amount remains owing to any Holders of the Covered Bonds. (2) In connection with the exercise by it of any of its trusts, powers, authorities or discretions hereunder (including, without limitation, any modification, waiver, authorization, determination or substitution), the Bond Trustee shall have regard to the general interests of the Covered Bondholders of each Series as a class (but shall not have regard to any interests arising from circumstances particular to individual Covered Bondholders, Receiptholders or Couponholders Bondholders whatever their number) and, in particular but without limitation, shall not have regard to the consequences of such exercise for individual Covered Bondholders, Receiptholders and Couponholders Bondholders (whatever their number) resulting from their being for any purpose domiciled or resident in, or otherwise connected with, or subject to the jurisdiction of, any particular territory or any political sub division thereof and the Bond Trustee shall not be entitled to require, nor shall any Covered Bondholder, Receiptholder or Couponholder Bondholder be entitled to claim, from the Issuer, either of the Guarantor, the Bond Trustee or any other person any indemnification or payment in respect of any tax consequences of any such exercise upon individual Covered Bondholders, Receiptholders and/or Couponholders, except to the extent already provided for in Condition 8 (Taxation) of the Trust Deed and/or in any undertaking or covenant given in addition thereto or in substitution therefor hereunder. (3) If, in connection with the exercise of its powers, trusts, authorities or discretions, the Bond Trustee is of the opinion that the interests of the Holders of the Covered Bonds of any one or more Series would be materially prejudiced thereby, the Bond Trustee shall not exercise such power, trust, authority or discretion without the approval of such Holders of the Covered Bonds by Extraordinary Resolution or by a direction in writing of such Holders of the Covered Bonds of not less than 25% of the aggregate Principal Amount Outstanding of the Covered Bonds of all Series then outstanding (taken together and converted into euros CAD at the rate specified in the applicable Final Terms).

Secured Creditors. (1a) The Notwithstanding any other provision in any Transaction Document to the contrary, the Bond TrusteeTrustee will, as regards the exercise and performance of all its powers, rights, trusts, authorities, duties and discretions of the Bond Trustee in respect of the Collateral, under or pursuant to this Agreement or any other Transaction Document to which the Bond Trustee is a party or the rights or benefits in respect of which are comprised in the Collateral (except where specifically provided otherwise)Charged Property, has have regard only to the interests of the Holders of the Covered Bonds Bondholders while any of the Covered Bonds remain remains outstanding (save in relation to a proposed modification to, or waiver or authorisation of any breach or proposed breach of, any provisions of the Covered Bonds of any Series or any of the Transaction Documents where it will only have regard to the interests of the Covered Bondholders) and shallwill not, subject to applicable law, not be required to have regard to the interests of any other Secured Creditor or any other person Person or to act upon or comply with any direction or request of any other Secured Creditor or any other person whilst Person while any amount remains owing to any Holders of the Covered BondsBondholder. (2b) In Where, in connection with the such exercise or performance by it of any of its powers, rights, trusts, powersauthorities, authorities or duties, and discretions hereunder (including, including without limitation, any modification, waiver, authorizationauthorisation, determination or substitution)) under or pursuant to this Agreement or any of the other Transaction Documents, the Bond Trustee shall is required to have regard to Covered Bondholders (or any Series thereof), it will have regard to the general interests of the Covered Bondholders of each Series as a class (but shall will not have regard to any interests arising from circumstances particular to individual Covered Bondholders, Receiptholders Bondholders or Couponholders (whatever their number) and, in particular but without limitation, shall will not have regard to the consequences of any such exercise for individual Covered Bondholders, Receiptholders and Bondholders or the related Couponholders (whatever their number) resulting from their being for any purpose domiciled or resident in, or otherwise connected with, or subject to the jurisdiction of, any particular territory or any political sub sub-division thereof and the Bond Trustee shall will not be entitled to require, nor shall will any Covered Bondholder, Receiptholder Bondholder or Couponholder be entitled to claim, from the Issuer, either of the Guarantor, the Bond Trustee, the Bond Trustee or any other person Person any indemnification or payment in respect of any tax Tax or stamp duty consequences of any such exercise upon individual Covered Bondholders, Receiptholders Bondholders and/or Couponholders, except to the extent already provided for in Condition 8 7 (Taxation) of the Trust Deed and/or in any undertaking or covenant given in addition thereto to, or in substitution therefor hereunderfor, Condition 7 (Taxation) pursuant to the Trust Deed. (3c) If, in connection with the exercise of its powers, trusts, authorities or discretions, the Bond Trustee is of the opinion that the interests of the Holders of the Covered Bonds Bondholders of any one or more Series would be materially prejudiced thereby, the Bond Trustee shall will not exercise such power, trust, authority or discretion without the approval of such Holders of the Covered Bonds Bondholders so prejudiced by Extraordinary Resolution or by a direction in writing of such Holders of the Covered Bonds Bondholders so prejudiced of not less than 25% 25 per cent. of the aggregate Canadian Dollar Equivalent of the Principal Amount Outstanding of the Covered Bonds of all the relevant Series then outstanding outstanding. (taken together d) The Bond Trustee shall perform its duties hereunder with respect to the preservation, enforcement and converted into euros at application of proceeds of the rate specified Security in accordance with the applicable Final Terms)Transaction Documents.

Secured Creditors. (1) The Bond Trustee, as regards the exercise and performance of all powers, rights, trusts, authorities, duties and discretions of the Bond Trustee in respect of the Collateral, under or pursuant to this Agreement or any other Transaction Document to which the Bond Trustee is a party or the rights or benefits in respect of which are comprised in the Collateral (except where specifically provided otherwise), has regard only to the interests of the Holders of the Covered Bonds while any of the Covered Bonds remain outstanding and shall, subject to applicable law, not be required to have regard to the interests of any other Secured Creditor or any other person or to act upon or comply with any direction or request of any other Secured Creditor or any other person whilst any amount remains owing to any Holders of the Covered Bonds. (2) In connection with the exercise by it of any of its trusts, powers, authorities or discretions hereunder (including, without limitation, any modification, waiver, authorization, determination or substitution), the Bond Trustee shall have regard to the general interests of the Covered Bondholders of each Series as a class (but shall not have regard to any interests arising from circumstances particular to individual Covered Bondholders, Receiptholders or Couponholders whatever their number) and, in particular but without limitation, shall not have regard to the consequences of such exercise for individual Covered Bondholders, Receiptholders and Couponholders (whatever their number) resulting from their being for any purpose domiciled or resident in, or otherwise connected with, or subject to the jurisdiction of, any particular territory or any political sub division thereof and the Bond Trustee shall not be entitled to require, nor shall any Covered Bondholder, Receiptholder or Couponholder be entitled to claim, from the Issuer, either of the Guarantor, the Bond Trustee or any other person any indemnification or payment in respect of any tax consequences of any such exercise upon individual Covered Bondholders, Receiptholders and/or Couponholders, except to the extent already provided for in Condition 8 (Taxation) of the Trust Deed and/or in any undertaking or covenant given in addition thereto or in substitution therefor hereunder. (3) If, in connection with the exercise of its powers, trusts, authorities or discretions, the Bond Trustee is of the opinion that the interests of the Holders of the Covered Bonds of any one or more Series would be materially prejudiced thereby, the Bond Trustee shall not exercise such power, trust, authority or discretion without the approval of such Holders of the Covered Bonds by Extraordinary Resolution or by a direction in writing of such Holders of the Covered Bonds of not less than 25% of the aggregate Principal Amount Outstanding of the Covered Bonds of all Series then outstanding (taken together and converted into euros USD at the rate specified in the applicable Final Terms).

Secured Creditors. ‌ (1) The Bond Trustee, as regards the exercise and performance of all powers, rights, trusts, authorities, duties and discretions of the Bond Trustee in respect of the Collateral, under or pursuant to this Agreement or any other Transaction Document to which the Bond Trustee is a party or the rights or benefits in respect of which are comprised in the Collateral Collateral, shall perform its duties (except where specifically provided otherwise)i) strictly in accordance with the Transaction Documents, has (ii) on the instructions or directions, as applicable, given in accordance with the terms of the Transaction Documents, of the Holders of the Covered Bonds exclusively, (iii) with regard only to the interests of the Holders of the Covered Bonds while any of the Covered Bonds remain outstanding outstanding, and shall(iv) in accordance with applicable laws, subject to applicable law, and shall not be required to have regard to the interests of any other Secured Creditor or any other person or to act upon or comply with any direction or request of any other Secured Creditor or any other person whilst any amount remains owing to any Holders of the Covered Bonds. (2) In Where, in connection with the exercise by it of any of its trusts, powers, authorities or and discretions hereunder (including, without limitation, any modification, waiver, authorizationauthorisation, determination or substitution)) under or pursuant to this Agreement or any of the other Transaction Documents, the Bond Trustee is required have regard to the Holders of the Covered Bonds (or any Series thereof), it shall have regard to the general interests of the Holders of the Covered Bondholders of each Bonds (or any Series thereof) as a class (but and shall not have regard to any interests arising from circumstances particular to individual Holders of the Covered BondholdersBonds, Receiptholders or Couponholders (whatever their number) and, in particular but without limitation, shall not have regard to the consequences of any such exercise for individual Holders of the Covered BondholdersBonds, Receiptholders and the related Receiptholders, Couponholders (whatever their number) resulting from their being for any purpose domiciled or resident in, or otherwise connected with, or subject to the jurisdiction of, any particular territory or any political sub sub-division thereof and the Bond Trustee shall not be entitled to require, nor shall any Holders of the Covered BondholderBonds, Receiptholder or Couponholder be entitled to claim, claim from the Issuer, either of the GuarantorGuarantor LP, the Bond Trustee or any other person any indemnification or payment in respect of any tax consequences of any such exercise upon individual Holders of the Covered BondholdersBonds, Receiptholders and/or Couponholders, except to the extent already provided for in Condition 8 (Taxation) of the Trust Deed 7 and/or in any undertaking or covenant given in addition thereto to, or in substitution therefor hereunderfor, Condition 7 pursuant to the Trust Deed. (3) If, in connection with the exercise of its powers, trusts, authorities or discretions, the Bond Trustee is of the opinion that the interests of the Holders of the Covered Bonds of any one or more Series would be materially prejudiced thereby, the Bond Trustee shall not exercise such power, trust, authority or discretion without the approval of such Holders of the Covered Bonds by Extraordinary Resolution or by a direction in writing of such Holders of the Covered Bonds of not less than 25% of the aggregate Principal Amount Outstanding of the Covered Bonds of all Series then outstanding (taken together and converted into euros at the rate specified in the applicable Final Terms).

Secured Creditors. (1) The Bond Trustee, as regards the exercise and performance of all powers, rights, trusts, authorities, duties and discretions of the Bond Trustee in respect of the Collateral, under or pursuant to this Agreement or any other Transaction Document to which the Bond Trustee is a party or the rights or benefits in respect of which are comprised in the Collateral Collateral, shall perform its duties (except where specifically provided otherwise)i) strictly in accordance with the Transaction Documents, has (ii) on the instructions or directions, as applicable, given in accordance with the terms of the Transaction Documents, of the Holders of the Covered Bonds exclusively, (iii) with regard only to the interests of the Holders of the Covered Bonds while any of the Covered Bonds remain outstanding outstanding, and shall(iv) in accordance with applicable laws, subject to applicable law, and shall not be required to have regard to the interests of any other Secured Creditor or any other person or to act upon or comply with any direction or request of any other Secured Creditor or any other person whilst any amount remains owing to any Holders of the Covered Bonds. (2) In Where, in connection with the exercise by it of any of its trusts, powers, authorities or and discretions hereunder (including, without limitation, any modification, waiver, authorizationauthorisation, determination or substitution)) under or pursuant to this Agreement or any of the other Transaction Documents, the Bond Trustee is required have regard to the Holders of the Covered Bonds (or any Series thereof), it shall have regard to the general interests of the Holders of the Covered Bondholders of each Bonds (or any Series thereof) as a class (but and shall not have regard to any interests arising from circumstances particular to individual Holders of the Covered BondholdersBonds, Receiptholders or Couponholders (whatever their number) and, in particular but without limitation, shall not have regard to the consequences of any such exercise for individual Holders of the Covered BondholdersBonds, Receiptholders and the related Receiptholders, Couponholders (whatever their number) resulting from their being for any purpose domiciled or resident in, or otherwise connected with, or subject to the jurisdiction of, any particular territory or any political sub sub-division thereof and the Bond Trustee shall not be entitled to require, nor shall any Holders of the Covered BondholderBonds, Receiptholder or Couponholder be entitled to claim, claim from the Issuer, either of the GuarantorGuarantor LP, the Bond Trustee or any other person any indemnification or payment in respect of any tax consequences of any such exercise upon individual Holders of the Covered BondholdersBonds, Receiptholders and/or Couponholders, except to the extent already provided for in Condition 8 (Taxation) of the Trust Deed 7 and/or in any undertaking or covenant given in addition thereto to, or in substitution therefor hereunderfor, Condition 7 pursuant to the Trust Deed. (3) If, in connection with the exercise of its powers, trusts, authorities or discretions, the Bond Trustee is of the opinion that the interests of the Holders of the Covered Bonds of any one or more Series would be materially prejudiced thereby, the Bond Trustee shall not exercise such power, trust, authority or discretion without the approval of such Holders of the Covered Bonds by Extraordinary Resolution or by a direction in writing of such Holders of the Covered Bonds of not less than 25% of the aggregate Principal Amount Outstanding of the Covered Bonds of all Series then outstanding (taken together and converted into euros at the rate specified in the applicable Final Terms).

Secured Creditors. (1) The Bond Trustee, as regards the exercise and performance of all powers, rights, trusts, authorities, duties and discretions of the Bond Trustee in respect of the Collateral, under or pursuant to this Agreement or any other Transaction Document to which the Bond Trustee is a party or the rights or benefits in respect of which are comprised in the Collateral (except where specifically provided otherwise), has have regard only to the interests of the Holders of the Covered Bonds while any of the Covered Bonds remain outstanding and shall, subject to applicable law, shall not be required to have regard to the interests of any other Secured Creditor or any other person or to act upon or comply with any direction or request of any other Secured Creditor or any other person whilst any amount remains owing to any Holders of the Covered Bonds. (2) In Where, in connection with the exercise by it of any of its trusts, powers, authorities or and discretions hereunder (including, without limitation, any modification, waiver, authorizationauthorisation, determination or substitution)) under or pursuant to this Agreement or any of the other Transaction Documents, the Bond Trustee is required have regard to the Holders of the Covered Bonds (or any Series thereof), it shall have regard to the general interests of the Holders of the Covered Bondholders of each Bonds (or any Series thereof) as a class (but and shall not have regard to any interests arising from circumstances particular to individual Holders of the Covered BondholdersBonds, Receiptholders or Couponholders (whatever their number) and, in particular but without limitation, shall not have regard to the consequences of any such exercise for individual Holders of the Covered BondholdersBonds, Receiptholders and the related Receiptholders, Couponholders (whatever their number) resulting from their being for any purpose domiciled or resident in, or otherwise connected with, or subject to the jurisdiction of, any particular territory or any political sub sub-division thereof and the Bond Trustee shall not be entitled to require, nor shall any Holders of the Covered BondholderBonds, Receiptholder or Couponholder be entitled to claim, claim from the Issuer, either of the GuarantorGuarantor LP, the Bond Trustee or any other person any indemnification or payment in respect of any tax consequences of any such exercise upon individual Holders of the Covered BondholdersBonds, Receiptholders and/or Couponholders, except to the extent already provided for in Condition 8 (Taxation) of the Trust Deed 7 and/or in any undertaking or covenant given in addition thereto to, or in substitution therefor hereunderfor, Condition 7 pursuant to the Trust Deed. (3) If, in connection with the exercise of its powers, trusts, authorities or discretions, the Bond Trustee is of the opinion that the interests of the Holders of the Covered Bonds of any one or more Series would be materially prejudiced thereby, the Bond Trustee shall not exercise such power, trust, authority or discretion without the approval of such Holders of the Covered Bonds by Extraordinary Resolution or by a direction in writing of such Holders of the Covered Bonds of not less than 25% of the aggregate Principal Amount Outstanding of the Covered Bonds of all Series then outstanding (taken together and converted into euros at the rate specified in the applicable Final Terms).

Secured Creditors. (1) The Bond Trustee, as regards the exercise and performance of all powers, rights, trusts, authorities, duties and discretions of the Bond Trustee in respect of the Collateral, under or pursuant to this Agreement or any other Transaction Document to which the Bond Trustee is a party or the rights or benefits in respect of which are comprised in the Collateral (except where specifically provided otherwise)Collateral, has shall have regard only to the interests of the Holders of the Covered Bonds while any of the Covered Bonds remain outstanding and shall, subject to applicable law, shall not be required to have regard to the interests of any other Secured Creditor or any other person or to act upon or comply with any direction or request of any other Secured Creditor or any other person whilst any amount remains owing to any Holders of the Covered Bonds. (2) In connection with the exercise by it of any of its trusts, powers, authorities or discretions hereunder (including, without limitation, any modification, waiver, authorization, determination or substitution), the Bond Trustee shall have regard to the general interests of the Covered Bondholders of each Series as a class (but shall not have regard to any interests arising from circumstances particular to individual Covered Bondholders, Receiptholders or Couponholders whatever their number) and, in particular but without limitation, shall not have regard to the consequences of such exercise for individual Covered Bondholders, Receiptholders and Couponholders (whatever their number) resulting from their being for any purpose domiciled or resident in, or otherwise connected with, or subject to the jurisdiction of, any particular territory or any political sub division thereof and the Bond Trustee shall not be entitled to require, nor shall any Covered Bondholder, Receiptholder or Couponholder be entitled to claim, from the Issuer, either of the Guarantor, the Bond Trustee or any other person any indemnification or payment in respect of any tax consequences of any such exercise upon individual Covered Bondholders, Receiptholders and/or Couponholders, except to the extent already provided for in Condition 8 7 (Taxation) of the Trust Deed and/or in any undertaking or covenant given in addition thereto or in substitution therefor hereunder. (3) If, in connection with the exercise of its powers, trusts, authorities or discretions, the Bond Trustee is of the opinion that the interests of the Holders of the Covered Bonds of any one or more Series would be materially prejudiced thereby, the Bond Trustee shall not exercise such power, trust, authority or discretion without the approval of such Holders of the Covered Bonds by Extraordinary Resolution or by a direction in writing of such Holders of the Covered Bonds of not less than 25% of the aggregate Principal Amount Outstanding of the Covered Bonds of all Series then outstanding (taken together and converted into euros USD at the rate specified in the applicable Final TermsTerms Document).

Secured Creditors. ‌ (1) The Bond Trustee, as regards the exercise and performance of all powers, rights, trusts, authorities, duties and discretions of the Bond Trustee in respect of the Collateral, under or pursuant to this Agreement or any other Transaction Document to which the Bond Trustee is a party or the rights or benefits in respect of which are comprised in the Collateral (except where specifically provided otherwise), has regard only to the interests of the Holders of the Covered Bonds while any of the Covered Bonds remain outstanding and shall, subject to applicable lawlaw and the terms of the Transaction Documents including, for the avoidance of doubt, the Priorities of Payment set out in the Guarantor Agreement and this Agreement, not be required to have regard to the interests of any other Secured Creditor or any other person or to act upon or comply with any direction or request of any other Secured Creditor or any other person whilst any amount remains owing to any Holders of the Covered Bonds. (2) In connection with the exercise by it of any of its trusts, powers, authorities or discretions hereunder (including, without limitation, any modification, waiver, authorization, determination or substitution), the Bond Trustee shall have regard to the general interests of the Covered Bondholders of each Series as a class (but shall not have regard to any interests arising from circumstances particular to individual Covered Bondholders, Receiptholders or Couponholders Bondholders whatever their number) and, in particular but without limitation, shall not have regard to the consequences of such exercise for individual Covered Bondholders, Receiptholders and Couponholders Bondholders (whatever their number) resulting from their being for any purpose domiciled or resident in, or otherwise connected with, or subject to the jurisdiction of, any particular territory or any political sub division thereof and the Bond Trustee shall not be entitled to require, nor shall any Covered Bondholder, Receiptholder or Couponholder Bondholder be entitled to claim, from the Issuer, either of the Guarantor, the Bond Trustee or any other person any indemnification or payment in respect of any tax consequences of any such exercise upon individual Covered Bondholders, Receiptholders and/or Couponholders, except to the extent already provided for in Condition 8 (Taxation) of the Trust Deed and/or in any undertaking or covenant given in addition thereto or in substitution therefor hereunder. (3) If, in connection with the exercise of its powers, trusts, authorities or discretions, the Bond Trustee is of the opinion that the interests of the Holders of the Covered Bonds of any one or more Series would be materially prejudiced thereby, the Bond Trustee shall not exercise such power, trust, authority or discretion without the approval of such Holders of the Covered Bonds by Extraordinary Resolution or by a direction in writing of such Holders of the Covered Bonds of not less than 25% of the aggregate Principal Amount Outstanding of the Covered Bonds of all Series then outstanding (taken together and converted into euros CAD at the rate specified in the applicable Final Terms).