Common use of Transitional provisions for negotiable debt securities Clause in Contracts

Transitional provisions for negotiable debt securities. (1) During the transitional period referred to in Article 15 of this Agreement, but until 31st December, 2010 at the latest, domestic and international bonds and other negotiable debt securities which have been first issued before 1st March, 2001 or for which the original issuing prospectuses have been approved before that date by the competent authorities within the meaning of Council Directive 80/390/EEC or by the responsible authorities in third countries shall not be considered as debt claims within the meaning of Article 9(1)(a) of this Agreement, provided that no further issues of such negotiable debt securities are made on or after 1st March, 2002. However, should the transitional period continue beyond 31st December, 2010, the provisions of this Article shall only continue to apply in respect of such negotiable debt securities

Transitional provisions for negotiable debt securities. (1) During the transitional period referred to in Article 15 of this Agreement, but until 31st December, December 2010 at the latest, domestic and international bonds and other negotiable debt securities which have been first issued before 1st March, 2001 or for which the original issuing prospectuses have been approved before that date by the competent authorities within the meaning of Council Directive 80/390/EEC or by the responsible authorities in third countries shall not be considered as debt claims within the meaning of Article 9(1)(a) of this Agreement, provided that no further issues of such negotiable debt securities are made on or after 1st March, March 2002. However, should the transitional period continue beyond 31st December, December 2010, the provisions of this Article shall only continue to apply in respect of such negotiable debt securities—