Status of the Subordinated Notes. This Condition 4 applies only to Subordinated Notes and references to “Notes” and “Noteholders” in this Condition 4 shall be construed accordingly.
Status of the Subordinated Notes. The Subordinated Notes and any relative Receipts and Coupons are direct, conditional (as described below) and unsecured obligations of the Issuer and rank pari passu amongst themselves. The payment obligations of the Issuer in respect of the Subordinated Notes (whether on account of principal, interest or otherwise) will be subordinated to all unsubordinated payment obligations of the Issuer in the manner described below but will rank pari passu with all other subordinated payment obligations of the Issuer which do not rank or are not expressed by their terms to rank junior to the payment obligations under the Subordinated Notes and in priority to all claims of shareholders of the Issuer. The rights of the holders of Subordinated Notes against the Issuer are subordinated in right of payment to the claims of all Senior Creditors of the Issuer and accordingly payments in respect of the Subordinated Notes (whether on account of principal, interest or otherwise) by the Issuer are conditional upon the Issuer being solvent at the time of such payment and no payment shall be payable by the Issuer in respect of the Subordinated Notes except to the extent that the Issuer could make such payment and any other payment required to be made to a creditor in respect of indebtedness which ranks or is expressed to rank pari passu with the Subordinated Notes and still be solvent immediately thereafter. For this purpose the Issuer shall be solvent if: (i) it is able to pay its debts as they fall due; and
Status of the Subordinated Notes. This Condition 3.3 applies only to Notes specified in the relevant Final Terms as being Subordinated Notes. The Subordinated Notes and any related Coupons are direct, unsecured and subordinated obligations of the Issuer that are intended to qualify for regulatory purposes as Tier 2 Instruments to be included in the Tier 2 Capital of the Issuer in accordance with Article 63 of the CRR and Part II, Chapter 1 of Circular No. 285 (or any successor rules under the Applicable Banking Regulations). The payment obligations of the Issuer under the Subordinated Notes and the Coupons related to them shall at all times rank:
Status of the Subordinated Notes. The Subordinated Notes and any relative Receipts and Coupons are direct, unsecured and subordinated obligations of the Issuer and rank pari passu and without any preference among themselves. In the event of:
Status of the Subordinated Notes. The Notes constitute dated, unsecured and subordinated obligations of the Issuer, and will at all times rank pari passu without any preference among themselves. The Notes are subordinated as described below in this Condition 4. The Notes do not have the benefit of a guarantee from any person and/or legal entity.
Status of the Subordinated Notes. Provisions relating to the status of Subordinated Notes will be set out in the relevant Pricing Supplement.
Status of the Subordinated Notes. (a) The payment obligations of the Issuer under Notes which specify their status as Senior Subordinated Notes or Tier 2 Subordinated Notes in the applicable Final Terms on account of principal constitute direct, unconditional, unsecured and subordinated obligations of the Issuer and subject to any other ranking that may apply as a result of any mandatory provision of law, upon the insolvency of the Issuer as set out in the Insolvency Law, such payment obligations rank:
Status of the Subordinated Notes. This Condition 3.3 applies only to Subordinated Notes and references to “Notes” and “Noteholders” in this Condition shall be construed accordingly.
Status of the Subordinated Notes
