Common use of VPS Noteholders’ rights Clause in Contracts

VPS Noteholders’ rights. (a) If a beneficial owner of a VPS Note not being registered as a VPS Noteholder wishes to exercise any rights under the VPS Conditions or this Agreement it must obtain proof of ownership of the VPS Notes, acceptable to the VPS Trustee. (b) A VPS Noteholder (whether registered as such or proven to the VPS Trustee’s satisfaction to be the beneficial owner of the VPS Note as set out in paragraph (a) above) may issue one or more powers of attorney to third parties to represent it in relation to some or all of the VPS Notes held or beneficially owned by such VPS Noteholder. The VPS Trustee shall only have to examine the face of a power of attorney or similar evidence of authorisation that has been provided to it pursuant to this Clause 3.3 (VPS Noteholders’ rights) and may assume that it is in full force and effect, unless otherwise is apparent from its face or the VPS Trustee has actual knowledge to the contrary.

VPS Noteholders’ rights. (a) If a beneficial owner of a VPS Note not being registered as a VPS Noteholder wishes to exercise any rights under the VPS Conditions or this Agreement it must obtain proof of ownership of the VPS Notes, acceptable to the VPS Trustee. (b) A VPS Noteholder (whether registered as such or proven to the VPS Trustee’s satisfaction to be the beneficial owner of the VPS Note as set out in paragraph (a) above) may issue one or more powers of attorney to third parties to represent it in relation to some or all of the VPS Notes held or beneficially owned by such VPS Noteholder. The VPS Trustee shall only have to examine the face of a power of attorney or similar evidence of authorisation that has been provided to it pursuant to this Clause 3.3 (VPS Noteholders’ rights) and may assume that it is in full force and effect, unless otherwise is apparent from its face or the VPS Trustee has actual knowledge to the contrary.’