Common use of Status of the Notes Clause in Contracts

Status of the Notes. The Senior Notes will constitute direct, unconditional, unsubordinated and unsecured obligations of the relevant Issuer and will rank pari passu without preference among themselves. The Dated Subordinated Notes will constitute direct, subordinated and unsecured obligations of Santander UK Group Holdings and will rank pari passu without preference among themselves. Waiver of set-off: Subject to applicable law, no holder of any Dated Subordinated Notes or Senior Notes issued by Santander UK Group Holdings and, in each case, the relative Coupons (if any), may exercise, claim or plead any right of set-off, compensation or retention in respect of any amount owed to it by Santander UK Group Holdings arising under or in connection with the Dated Subordinated Notes or the Senior Notes issued by Santander UK Group Holdings or, in each case, the relative Coupons (if any), and each holder of any Dated Subordinated Notes or Senior Notes issued by Santander UK Group Holdings and, in each case, the relative Coupons (if any) shall, by virtue of being the holder of any Dated Subordinated Note or Senior Note issued by Santander UK Group Holdings or, in each case, the holder of the relative Coupon (if any), be deemed to have waived all such rights of set-off, compensation or retention.

Status of the Notes. The Senior Notes will constitute direct, unconditional, unsubordinated and unsecured obligations of the relevant Issuer and will rank pari passu without preference among themselves. The Dated Subordinated Notes will constitute direct, subordinated and unsecured obligations of Santander UK Group Holdings and will rank pari passu without preference among themselves. Waiver of set-off, etc.: Subject to applicable law, no holder of any Dated Subordinated Notes or Senior Notes issued by Santander UK Group Holdings and, in each case, the relative Coupons (if any), may exercise, claim or plead any right of set-off, netting, compensation or retention in respect of any amount owed to it by Santander UK Group Holdings arising under or in connection with the Dated Subordinated Notes or the Senior Notes issued by Santander UK Group Holdings or, in each case, the relative Coupons (if any), and each holder of any Dated Subordinated Notes or Senior Notes issued by Santander UK Group Holdings and, in each case, the relative Coupons (if any) shall, by virtue of being the holder of any Dated Subordinated Note or Senior Note issued by Santander UK Group Holdings or, in each case, the holder of the relative Coupon (if any), be deemed to have waived all such rights of set-off, netting, compensation or retention.