Common use of Trigger Event Write-down Notice Clause in Contracts

Trigger Event Write-down Notice. (i) If, with respect to any Publication Date, the Trigger CET1 Ratio as of such Publication Date is less than the Write-down Threshold, the Issuer shall, subject to subclauses (b)(ii) and (b)(iii) of this Condition 7, give a Trigger Event Write-down Notice to the Holders (x) if such Publication Date is an Ordinary Publication Date, within five Business Days of such Ordinary Publication Date (such fifth Business Day, the "Trigger Breach Determination Date", and the date of such notice, the "Ordinary Trigger Event Notice Date"), and (y) if such Publication Date is an Extraordinary Publication Date, on such Extraordinary Publication Date (the "Extraordinary Trigger Event Notice Date"), in each case in accordance with Condition 13 (Notices). (ii) If a Trigger Event Write-down Notice is required to be given pursuant to subclause (b)(i) of this Condition 7, and on the relevant Publication Date any Higher-Trigger Contingent Capital is outstanding with respect to which either (x) no Higher-Trigger Write-down/Conversion Notice has been given prior to the Trigger Event Notice Date or (y) a Higher-Trigger Write- down/Conversion Notice has been given prior to the Trigger Event Notice Date, but the Trigger Event Write-down Date is scheduled to occur prior to the relevant Higher-Trigger Write-down/Conversion Date, (A) in the case of clause (x) above, the giving of such Trigger Event Write-down Notice will be postponed until the date on which a Higher-Trigger Write-down/Conversion Notice has been given with respect to all such outstanding Higher-Trigger Contingent Capital and such date will be deemed to be the Trigger Event Notice Date; and (B) in the case of clauses (x) and (y) above, if the Trigger Event Write- down Date is scheduled to occur prior to the Higher-Trigger Write- down/Conversion Date (or, in the case of more than one Higher- Trigger Write-down/Conversion Date, the latest Higher-Trigger Write-down/Conversion Date), the Trigger Event Write-down Date will be postponed to the Higher-Trigger Write-down/Conversion Date (or the latest Higher-Trigger Write-down/Conversion Date, as applicable) and such postponement shall be specified in such Trigger Event Write-down Notice. (iii) If (A) a Trigger Event Write-down Notice is required to be given pursuant to subclause (b)(i) of this Condition 7 in relation to an Ordinary Publication Date, and (B) prior to the earlier of the Ordinary Trigger Event Notice Date and the Trigger Breach Determination Date, FINMA, upon the request of UBS Group AG, has agreed in writing that a Contingent Write-down is not required as a result of actions taken by the Group or circumstances or events, in each case, that have had, or imminently will have, the effect of restoring the CET1 Ratio as of the Balance Sheet Date relating to the relevant Ordinary Publication Date, after giving pro forma effect to such actions, circumstances or events, to a level above the Write-down Threshold that FINMA and UBS Group XX xxxx, in their sole discretion, to be adequate at such time,

Trigger Event Write-down Notice. (i) If, with respect to any Publication Date, the Trigger CET1 Ratio as of such Publication Date is less than the Write-down Threshold, the Issuer shall, subject to subclauses clauses (b)(ii) and (b)(iii) of this Condition 76, give a Trigger Event Write-down Notice to the Holders (x) if such Publication Date is an Ordinary Publication Date, within five Business Days of such Ordinary Publication Date (such fifth Business Day, the "Trigger Breach Determination Date", and the date of such notice, the "" Ordinary Trigger Event Notice Date"), and (y) if such Publication Date is an Extraordinary Publication Date, on such Extraordinary Publication Date (the "Extraordinary Trigger Event Notice Date"), in each case in accordance with Condition 13 12 (Notices). (ii) If a Trigger Event Write-down Notice is required to be given pursuant to subclause clause (b)(i) of this Condition 76, and on the relevant Publication Date any HigherHigh-Trigger Contingent Capital is outstanding with respect to which either (x) no HigherHigh-Trigger Write-down/Conversion Notice has been given prior to the Trigger Event Notice Date or (y) a HigherHigh-Trigger Write- Write-down/Conversion Notice has been given prior to the Trigger Event Notice Date, but the Trigger Event Write-down Date is scheduled to occur prior to the relevant HigherHigh-Trigger Write-down/Conversion Date, (A) in the case of clause (x) above, the giving of such Trigger Event Write-down Notice will be postponed until the date on which a HigherHigh-Trigger Write-down/Conversion Notice has been given with respect to all such outstanding HigherHigh-Trigger Contingent Capital and such date will be deemed to be the Trigger Event Notice Date; and (B) in the case of clauses (x) and (y) above, if the Trigger Event Write- down Date is scheduled to occur prior to the HigherHigh-Trigger Write- down/Conversion Date (or, in the case of more than one Higher- High- Trigger Write-down/Conversion Date, the latest HigherHigh-Trigger Write-down/Conversion Date), the Trigger Event Write-down Date will be postponed to the HigherHigh-Trigger Write-down/Conversion Date (or the latest HigherHigh-Trigger Write-down/Conversion Date, as applicable) and such postponement shall be specified in such Trigger Event Write-down Notice. (iii) If (A) a Trigger Event Write-down Notice is required to be given pursuant to subclause clause (b)(i) of this Condition 7 6 in relation to an Ordinary Publication Date, and (B) prior to the earlier of the Ordinary Trigger Event Notice Date and the Trigger Breach Determination Date, the FINMA, upon the request of UBS Group AG, has agreed in writing that a Contingent Write-down is not required as a result of actions taken by the Group or circumstances or events, in each case, that have had, or imminently will have, the effect of restoring the CET1 Ratio as of the Balance Sheet Date relating to the relevant Ordinary Publication Date, after giving pro forma effect to such actions, circumstances or events, to a level above the Write-down Threshold that the FINMA and UBS Group XX xxxx, in their sole discretion, to be adequate at such time,, (x) the Issuer shall not give such Trigger Event Write-down Notice pursuant to clause (b)(i) of this Condition 6 in relation to the relevant Ordinary Publication Date, and (y) the Issuer shall give notice to the Holders on or prior to the Trigger Breach Determination Date in accordance with Condition 12 (Notices), which notice shall state that no Contingent Write- down will occur in relation to the relevant Ordinary Publication Date.

Trigger Event Write-down Notice. (i) If, with respect to any Publication Date, , (A) the Relevant Trigger CET1 Capital Ratio as of such Publication Date is less than the Write-down Threshold; and (B) UBS AG has not (x) paid, or proposed to pay, any distribution in cash or in kind (other than in the form of Core Capital Instruments) on any Core Capital Instruments or (y) repurchased, redeemed or retired for any consideration any Core Capital Instruments, in the case of each of subclauses (x) and (y) of this clause (B), during the one-month period ended on the date immediately preceding such Publication Date, except pursuant to the conversion of a security into, or the exchange of a security for, any Core Capital Instruments, or as a Permitted Transaction, the Issuer shall, subject to subclauses clauses (b)(ii) and (b)(iii) of this Condition 76, give a Trigger Event Write-down Notice to the Holders (x) if such Publication Date is an Ordinary Publication Date, within five Business Days of such Ordinary Publication Date (such fifth Business Day, the "“Trigger Breach Determination Date"”, and the date of such notice, the "“Ordinary Trigger Event Notice Date"”), and (y) if such Publication Date is an Extraordinary Publication Date, on such Extraordinary Publication Date (the "“Extraordinary Trigger Event Notice Date"”), in each case in accordance with Condition 13 (Notices)13. (ii) If the Issuer is required to give a Trigger Event Write-down Notice is required to be given pursuant to subclause clause (b)(i) of this Condition 76, and on the relevant Publication Date any HigherHigh-Trigger Contingent Capital is outstanding with respect to which either (x) no HigherHigh-Trigger Write-down/Conversion Notice has been given prior to the Trigger Event Notice Date or (y) a HigherHigh-Trigger Write- Write-down/Conversion Notice has been given prior to the Trigger Event Notice Date, but the Trigger Event Write-down Date is scheduled to occur prior to the relevant HigherHigh-Trigger Write-down/Conversion Date, (A) in the case of clause (x) above, the Issuer shall postpone giving of such Trigger Event Write-down Notice will be postponed until the date on which a HigherHigh-Trigger Write-down/Conversion Notice has been given with respect to all such outstanding HigherHigh-Trigger Contingent Capital and such date will shall be deemed to be the Trigger Event Notice Date; , and (B) in the case of clauses (x) and (y) above, if the Trigger Event Write- Write-down Date is scheduled to occur prior to the HigherHigh-Trigger Write- Write-down/Conversion Date (or, in the case of more than one Higher- High-Trigger Write-down/Conversion Date, the latest HigherHigh-Trigger Write-down/Conversion Date), the Trigger Event Write-down Date will shall be postponed to the HigherHigh-Trigger Write-down/Conversion Date (or the latest HigherHigh-Trigger Write-down/Conversion Date, as applicable) and such postponement shall be specified in such Trigger Event Write-down Notice. (iii) If (A) the Issuer is required to give a Trigger Event Write-down Notice is required to be given pursuant to subclause clause (b)(i) of this Condition 7 6 in relation to an Ordinary Publication Date, and (B) prior to the earlier of the Ordinary Trigger Event Notice Date and the Trigger Breach Determination Date, the FINMA, upon the request of UBS Group AG, has agreed in writing that a Contingent Write-down is not required as a result of actions taken by the Group or circumstances or events, in each case, that have had, or imminently will have, the effect of restoring the CET1 Relevant Capital Ratio as of the Balance Sheet Date relating to the relevant Ordinary Publication Date, after giving pro forma effect to such actions, circumstances or events, to a level above the Write-down Threshold that the FINMA and UBS Group XX xxxx, in their sole discretion, to be adequate at such time,, the Issuer (x) shall not give such Trigger Event Write-down Notice pursuant to clause (b)(i) of this Condition 6 in relation to the relevant Ordinary Publication Date, and (y) shall give notice to the Holders on or prior to the Trigger Breach Determination Date in accordance with Condition 13, which notice shall state that no Contingent Write-down shall occur in relation to the relevant Ordinary Publication Date.

Trigger Event Write-down Notice. (i) If, with respect to any Publication Date, , (A) the Relevant Trigger CET1 Capital Ratio as of such Publication Date is less than the Write-down Threshold; and(B) UBS AG has not (x) paid, or proposed to pay, any distribution in cash or in kind (other than in the form of Core Capital Instruments) on any Core Capital Instruments or (y) repurchased, redeemed or retired for any consideration any Core Capital Instruments, in the case of each of subclauses (x) and (y) of this clause (B) (B), during the one-month period ended on the date immediately preceding such Publication Date, except pursuant to the conversion of a security into, or the exchange of a security for, any Core Capital Instruments, or as a Permitted Transaction, the Issuer shall, subject to subclauses clauses (b)(ii) and (b)(iii) of this Condition 76, give a Trigger Event Write-down Writedown Notice to the Holders (x) if such Publication Date is an Ordinary Publication Date, within five Business Days of such Ordinary Publication Date (such fifth Business Day, the "“Trigger Breach Determination Date"”, and the date of such notice, the "“Ordinary Trigger Event Notice Date"”), and (y) if such Publication Date is an Extraordinary Publication Date, on such Extraordinary Publication Date (the "“Extraordinary Trigger Event Notice Date"”), in each case in accordance with Condition 13 (Notices). (ii) If the Issuer is required to give a Trigger Event Write-down Notice is required to be given pursuant to subclause clause (b)(i) of this Condition 76, and on the relevant Publication Date any HigherHigh-Trigger Contingent Capital is outstanding with respect to which either (x) no HigherHigh-Trigger Write-down/Conversion Notice has been given prior to the Trigger Event Notice Date or (y) a HigherHigh-Trigger Write- Write-down/Conversion Notice has been given prior to the Trigger Event Notice Date, but the Trigger Event Write-down Date is scheduled to occur prior to the relevant HigherHigh-Trigger Write-down/Conversion Date, (A) in the case of clause (x) above, the Issuer shall postpone giving of such Trigger Event Write-down Notice will be postponed until the date on which a HigherHigh-Trigger Write-down/Conversion Notice has been given with respect to all such outstanding HigherHigh-Trigger Contingent Capital and such date will shall be deemed to be the Trigger Event Notice Date; , and (B) in the case of clauses (x) and (y) above, if the Trigger Event Write- Write-down Date is scheduled to occur prior to the HigherHigh-Trigger Write- Write-down/Conversion Date (or, in the case of more than one Higher- High-Trigger Write-down/Conversion Date, the latest HigherHigh-Trigger Write-down/Conversion Date), the Trigger Event Write-down Date will shall be postponed to the HigherHigh-Trigger Write-downWritedown/Conversion Date (or the latest HigherHigh-Trigger Write-down/Conversion Date, as applicable) and such postponement shall be specified in such Trigger Event Write-down Notice. (iii) If (A) the Issuer is required to give a Trigger Event Write-down Notice is required to be given pursuant to subclause clause (b)(i) of this Condition 7 6 in relation to an Ordinary Publication Date, and (B) prior to the earlier of the Ordinary Trigger Event Notice Date and the Trigger Breach Determination Date, the FINMA, upon the request of UBS Group AG, has agreed in writing that a Contingent Write-down is not required as a result of actions taken by the Group or circumstances or events, in each case, that have had, or imminently will have, the effect of restoring the CET1 Relevant Capital Ratio as of the Balance Sheet Date relating to the relevant Ordinary Publication Date, after giving pro forma effect to such actions, circumstances or events, to a level above the Write-down Threshold that the FINMA and UBS Group XX xxxx, in their sole discretion, to be adequate at such time,, the Issuer (x) shall not give such Trigger Event Write-down Notice pursuant to clause (b)(i) of this Condition 6 in relation to the relevant Ordinary Publication Date, and (y) shall give notice to the Holders on or prior to the Trigger Breach Determination Date in accordance with Condition 13 (Notices), which notice shall state that no Contingent Write-down shall occur in relation to the relevant Ordinary Publication Date.