Status/Effect of Conditions Notices. The LBI Trustee shall not be considered to have made the determination described in Section 11.04(b), or to have delivered the notice described in Section 11.05(a), in each case unless and until he delivers an LBI Conditions Notice to such effect pursuant to Section 11.06(b). For the avoidance of doubt, (i) neither the delivery by the LBI Trustee or LBIE of a notice pursuant to Section 11.06(a) to the effect that he or it does not regard a particular order to be “reasonably satisfactory” to him or it, nor the delivery by LBIE of a LBIE Condition Notice to the effect that LBIE does not regard the condition set forth in Section 11.05(b) to have been satisfied, shall be binding as against the Party receiving the notice in relation to the reasonableness standards set forth in (or otherwise with respect to) the relevant conditions set forth in this Article XI and (ii) neither the failure by the LBI Trustee or LBIE to deliver a notice that he or it is required to deliver under Section 11.06(a) nor the failure by LBIE to deliver a LBIE Condition Notice shall be binding as against the Party to whom the notice was to be delivered in relation to whether the relevant condition set forth in this Article XI has been satisfied. Except as set forth in the last sentence of Section 11.06(b), unless and to the extent the LBI Trustee and LBIE otherwise mutually may agree in their discretion, the delivery by the LBI Trustee or LBIE of a notice pursuant to Section 11.06(a)(i) or (ii) (it being understood and agreed that if any Bankruptcy Court Order or the English Compliance Order, in the form in which it becomes a Final Order, varies from the form in which it was originally entered by the Bankruptcy Court or the English Court, respectively, then, with respect to such Bankruptcy Court Order or the English Compliance Order, as the case may be, the notices delivered under Section 11.06(a)(ii), and not any notice delivered under Section 11.06(a)(i), are the relevant notices for purposes of this sentence), or Section 11.06(b), to the effect that the LBI Trustee or LBIE, respectively, regards a particular condition set forth in this Article XI to have been satisfied or to have been waived shall be binding (and irrevocable) as against the Party delivering such notice.
