Solvency and Definitions Sample Clauses

Solvency and Definitions. (i) A report of the Auditors (as defined below) or (if DSB or a Guaranteed Issuer is in winding-up) of the liquidator of DSB or a Guaranteed Issuer (as appropriate) as to whether or not DSB or the Guaranteed Issuer, on the basis of such information as DSB or the Guaranteed Issuer (as appropriate) may, at the request of the Auditors, make available to the Auditors or (if DSB or the Guaranteed Issuer is in winding-up) on the basis of the information available to the liquidator, is or would in any specified circumstances be Solvent shall in the absence of proven error be treated and accepted by DSB or, as the case may be, the Guaranteed Issuer, the Noteholders and the Couponholders as correct and sufficient evidence of such fact. In the absence of any such evidence to the contrary, it shall for these purposes be assumed (unless the contrary is proved) that DSB or, as the case may be, the Guaranteed Issuer is and will after any payment in respect of any Series of Subordinated Notes be Solvent. No Noteholder or Couponholder shall be entitled to proceed against the Auditors in connection with the exercise or non-exercise by them of their powers, duties and discretions under this Condition 3(i)(i). (ii) In these Conditions, the following expressions have the following meanings:
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