Common use of Tax Redemption Event Clause in Contracts

Tax Redemption Event. unless “Tax Redemption Event” is specified as not applicable, an Adverse Tax Event, the Issuer will immediately inform the Trustee of such event and use all reasonable efforts to arrange the substitution of a company incorporated in a jurisdiction approved by the Trustee as the principal debtor under the Notes. If it fails to arrange such substitution, or it or the Trustee considers it impracticable to arrange such substitution, before the next payment is due under the Notes (and the Noteholders have not passed an Extraordinary Resolution amending the Conditions to provide for payment subject to the relevant Tax), a Tax Redemption Event will be deemed to have occurred. Upon the occurrence of a Tax Redemption Event, the Issuer will give a Notice of Redemption and will redeem all of the Notes at their Mandatory Redemption Amount on the Mandatory Redemption Date. With respect to any Connected Jurisdiction Tax, the Issuer shall deduct such Connected Jurisdiction Tax from the amounts payable to the relevant Noteholder(s) and all other Noteholders shall receive the due amounts payable to them and the Notes shall not be redeemed and no Tax Redemption Event shall occur as a result of such deduction. While any Global Note is held on behalf of a Clearing System, the Issuer may have regard to any information provided by such Clearing System as to the identity of its accountholders having entitlements to such Global Note and may consider such interests as if such accountholders were the Noteholders for the purpose of determining if a Connected Jurisdiction Tax arises in respect of a Noteholder;

Tax Redemption Event. unless “Tax Redemption Event” is specified as not applicable, an Adverse Tax Event, the Issuer will immediately inform the Trustee of such event and use all reasonable efforts to arrange the substitution of a company incorporated in a jurisdiction approved by the Trustee as the principal debtor under the Notes. If it fails to arrange such substitution, or it or the Trustee considers it impracticable to arrange such substitution, before the next payment is due under the Notes (and the Noteholders have not passed an Extraordinary Resolution amending the Conditions to provide for payment subject to the relevant Tax), a Tax Redemption Event will be deemed to have occurred. Upon the occurrence of a Tax Redemption Event, the Issuer will give a Notice of Redemption and will redeem all of the Notes at their Mandatory Redemption Amount on the Mandatory Redemption Date. With respect to any Connected Jurisdiction Tax, the Issuer shall deduct such Connected Jurisdiction Tax from the amounts payable to the relevant Noteholder(s) and all other Noteholders shall receive the due amounts payable to them and the Notes shall not be redeemed and no Tax Redemption Event shall occur as a result of such deduction. While any Global Note is held on behalf of a Clearing System, the Issuer may have regard to any information provided by such Clearing System as to the identity of its accountholders having entitlements to such Global Note and may consider such interests as if such accountholders were the Noteholders for the purpose of determining if a Connected Jurisdiction Tax arises in respect of a Noteholder;