Common use of WAIVER, AUTHORISATION AND DETERMINATION Clause in Contracts

WAIVER, AUTHORISATION AND DETERMINATION. (A) THE Trustee may, without the consent of the Noteholders, Receiptholders or Couponholders and without prejudice to its rights in respect of any subsequent breach, Event of Default or Potential Event of Default, from time to time and at any time but only if and in so far as in its opinion the interests of the Noteholders shall not be materially prejudiced thereby waive or authorise any breach or proposed breach by the Issuer, PT or PTC of any of the covenants or provisions contained in these presents or determine that any Event of Default or Potential Event of Default shall not be treated as such for the purposes of these presents PROVIDED ALWAYS THAT the Trustee shall not exercise any powers conferred on it by this Clause in contravention of any express direction given by Extraordinary Resolution or by a request under Condition 10(a) but so that no such direction or request shall affect any waiver, authorisation or determination previously given or made. Any such waiver, authorisation or determination may be given or made on such terms and subject to such conditions (if any) as the Trustee may determine, shall be binding on the Noteholders, the Receiptholders and the Couponholders and, if, but only if, the Trustee, shall so require, shall be notified by the Issuer to the Noteholders in accordance with Condition 14 as soon as practicable thereafter.

WAIVER, AUTHORISATION AND DETERMINATION. (A) THE Trustee may, without the consent of the Noteholders, Receiptholders or Couponholders and without prejudice to its rights in respect of any subsequent breach, Event of Default or Potential Event of Default, from time to time and at any time but only if and in so far as in its opinion the interests of the Noteholders shall not be materially prejudiced thereby waive or authorise any breach or proposed breach by the Issuer, PT Issuers or PTC of any of the covenants or provisions contained in these presents or determine that any Event of Default or Potential Event of Default shall not be treated as such for the purposes of these presents PROVIDED ALWAYS THAT the Trustee shall not exercise any powers conferred on it by this Clause in contravention of any express direction given by Extraordinary Resolution or by a request under Condition 10(a) but so that no such direction or request shall affect any waiver, authorisation or determination previously given or made. Any such waiver, authorisation or determination may be given or made on such terms and subject to such conditions (if any) as the Trustee may determine, shall be binding on the Noteholders, the Receiptholders and the Couponholders and, if, but only if, the Trustee, shall so require, shall be notified by the relevant Issuer to the Noteholders in accordance with Condition 14 as soon as practicable thereafter.

WAIVER, AUTHORISATION AND DETERMINATION. (A) THE 18.1 The Note Trustee may, without the consent or sanction of the Noteholders, Receiptholders or Couponholders Noteholders and without prejudice to its rights in respect of any subsequent breach, Event of Default or Potential Event of Default, from time to time and at any time but only if and in so far as in its opinion the interests of the Noteholders shall not be materially prejudiced thereby waive or authorise any breach or proposed breach by the Issuer, PT Ninth Issuer or PTC any other party thereto of any of the covenants or provisions contained in these presents or any of the other Transaction Documents or determine that any Event of Default or Potential Note Event of Default shall not be treated as such for the purposes of these presents PROVIDED ALWAYS THAT the Note Trustee shall not exercise any powers conferred on it by this Clause 18 in contravention of any express direction given by Extraordinary Resolution or by a request under Condition 10(a) 9 or 10 but so that no such direction or request shall affect any waiver, authorisation or determination previously given or made. Any such waiver, authorisation or determination may be given or made on such terms and subject to such conditions (if any) as the Note Trustee may determine, shall be binding on the Noteholders, the Receiptholders and the Couponholders Noteholders and, if, but only if, the Trustee, Note Trustee shall so require, shall be notified by the Ninth Issuer to the Noteholders in accordance with Condition 14 as soon as practicable thereafter. The provisions of this Clause 18.1 shall be in lieu of section 316(a)(1)(B) of the Trust Indenture Act and section 316(a)(1)(B) of the Trust Indenture Act is hereby expressly excluded from this Deed and the Ninth Issuer Notes, as permitted by the Trust Indenture Act.

WAIVER, AUTHORISATION AND DETERMINATION. (A) THE 19.1 The Trustee may, may without the consent or sanction of the Noteholders, Receiptholders or Couponholders Noteholders and without prejudice to its rights in respect of any subsequent breach, Event of Default or Potential Event of Default, Default from time to time and at any time but only if and in so far as in its opinion the interests of the Noteholders shall not be materially prejudiced thereby waive or authorise any breach or proposed breach by the Issuer, PT Issuer or PTC the Guarantor of any of the covenants or provisions contained in these presents or determine that any Event of Default or Potential Event of Default shall not be treated as such for the purposes of these presents PROVIDED ALWAYS THAT the Trustee shall not exercise any powers conferred on it by this Clause clause in contravention of any express direction given by Extraordinary Resolution or by a request under Condition 10(a11 (Enforcement) but so that no such direction or request shall affect any waiver, authorisation or determination previously given or made. Any such waiver, authorisation or determination may be given or made on such terms and subject to such conditions (if any) as the Trustee may determine, shall be binding on the Noteholders, the Receiptholders Noteholders and the Couponholders and, if, but only if, the Trustee, Trustee shall so require, shall be notified by the Issuer to the Noteholders in accordance with Condition 14 13 (Notices) as soon as practicable thereafter.

WAIVER, AUTHORISATION AND DETERMINATION. (A) THE 19.1 The Trustee may, may without the consent or sanction of the Noteholders, Receiptholders Noteholders or the Couponholders and without prejudice to its rights in respect of any subsequent breach, Event of Default or Potential Event of Default, Default from time to time and at any time but only if and in so far as in its opinion the interests of the Noteholders shall not be materially prejudiced thereby waive or authorise any breach or proposed breach by the Issuer, PT Issuer or PTC any Guarantor of any of the covenants or provisions contained in these presents or determine that any Event of Default or Potential Event of Default shall not be treated as such for the purposes of these presents PROVIDED ALWAYS THAT the Trustee shall not exercise any powers conferred on it by this Clause in contravention of any express direction given by Extraordinary Resolution or by a request under Condition 10(a10 (Events of Default and Enforcement) but so that no such direction or request shall affect any waiver, authorisation or determination previously given or made. Any such waiver, authorisation or determination may be given or made on such terms and subject to such conditions (if any) as the Trustee may determine, shall be binding on the Noteholders, the Receiptholders Noteholders and the Couponholders and, if, but only if, the Trustee, Trustee shall so require, shall be notified by the Issuer to the Noteholders in accordance with Condition 14 (Notices) as soon as practicable thereafter.

WAIVER, AUTHORISATION AND DETERMINATION. (A) THE ‌ Subject as provided in Clause 18.3 hereof, the Trustee may, may without the consent or sanction of the Noteholders, Receiptholders Noteholders or the Couponholders and without prejudice to its rights in respect of any subsequent breach, Event of Default or Potential Event of Default, Default from time to time and at any time but only if and in so far as in its opinion the interests of the Noteholders shall not be materially prejudiced thereby waive or authorise any breach or proposed breach by the Issuer, PT or PTC Issuer of any of the covenants or provisions contained in these presents or determine that any Event of Default or Potential Event of Default shall not be treated as such for the purposes of these presents PROVIDED ALWAYS THAT provided always that the Trustee shall not exercise any powers conferred on it by this Clause in contravention of any express direction given by Extraordinary Resolution or by a request under Condition 10(a9 (Events of Default and Enforcement) but so that no such direction or request shall affect any waiver, authorisation or determination previously given or made. Any such waiver, authorisation or determination may be given or made on such terms and subject to such conditions (if any) as the Trustee may determine, shall be binding on the Noteholders, the Receiptholders Noteholders and the Couponholders and, if, but only if, the Trustee, Trustee shall so require, shall be notified by the Issuer to the Noteholders in accordance with Condition 14 13 (Notices) as soon as reasonably practicable thereafter.

WAIVER, AUTHORISATION AND DETERMINATION. (A) THE 19.1 The Trustee may, may without the consent or sanction of the Noteholders, Receiptholders Noteholders or the Couponholders and without prejudice to its rights in respect of any subsequent breach, Event of Default or Potential Event of Default, Default from time to time and at any time but only if and in so far as in its opinion the interests of the Noteholders shall not be materially prejudiced thereby waive or authorise any breach or proposed breach by the Issuer, PT Issuer or PTC any Guarantor of any of the covenants or provisions contained in these presents or determine that any Event of Default or Potential Event of Default shall not be treated as such for the purposes of these presents PROVIDED ALWAYS THAT the Trustee shall not exercise any powers conferred on it by this Clause in contravention of any express direction given by Extraordinary Resolution or by a request under Condition 10(a9 (Events of Default and Enforcement) but so that no such direction or request shall affect any waiver, authorisation or determination previously given or made. Any such waiver, authorisation or determination may be given or made on such terms and subject to such conditions (if any) as the Trustee may determine, shall be binding on the Noteholders, the Receiptholders Noteholders and the Couponholders and, if, but only if, the Trustee, Trustee shall so require, shall be notified by the Issuer to the Noteholders in accordance with Condition 14 13 (Notices) as soon as practicable thereafter.

WAIVER, AUTHORISATION AND DETERMINATION. (A) THE The Trustee may, may without the consent or sanction of the Noteholders, Receiptholders Holders or the Couponholders and without prejudice to its rights in respect of any subsequent breach, Event of Default or Potential Event of Default, Default from time to time and at any time but only if and in so far as in its opinion the interests of the Noteholders Holders shall not be materially prejudiced thereby waive or authorise any breach or proposed breach by the Issuer, PT or PTC Issuer and/or (where the Issuer is PFA) the Guarantor of any of the covenants or provisions contained in these presents or determine that any Event of Default or Potential Event of Default shall not be treated as such for the purposes of these presents PROVIDED ALWAYS THAT the Trustee shall not exercise any powers conferred on it by this Clause in contravention of any express direction given by Extraordinary Resolution or by a request under Condition 10(a18 (only if Restrictive Events of Default are specified as applicable in the Final Terms) or Condition 19 (only if Non-Restrictive Events of Default are specified as applicable in the Final Terms), as the case may be, but so that no such direction or request shall affect any waiver, authorisation or determination previously given or made. In the case of any waiver in respect of Notes where Relevant Regulator Consent is specified as applicable in the Final Terms, the Issuer shall have given prior notice to the Relevant Regulator and the Relevant Regulator shall have consented to or approved such waiver (in each case in accordance with, and to the extent required under, the Capital Regulations applicable in relation to Tier 1 Capital or Tier 2 Capital (as applicable)). Any such waiver, authorisation or determination may be given or made on such terms and subject to such conditions (if any) as the Trustee may determine, shall be binding on the Noteholders, the Receiptholders Holders and the Couponholders and, if, but only if, the Trustee, Trustee shall so require, shall be notified by the Issuer to the Noteholders Holders in accordance with Condition 14 23, as soon as practicable thereafter.thereafter.‌

WAIVER, AUTHORISATION AND DETERMINATION. (A) THE Trustee may, may without the consent or sanction of the Noteholders, Receiptholders or Couponholders Holders and without prejudice to its rights in respect of any subsequent breach, Event of Default or Potential Event of Default, Default from time to time and at any time but only if and in so far as in its opinion the interests of the Noteholders Holders shall not be materially prejudiced thereby waive or authorise any breach or proposed breach by the Issuer, PT or PTC Issuer of any of the covenants or provisions contained in these presents or determine that any Event of Default or Potential Event of Default shall not be treated as such for the purposes of these presents PROVIDED ALWAYS THAT the Trustee shall not exercise any powers conferred on it by this Clause in contravention of any express direction given by Extraordinary Resolution or by a request under Condition 10(a) 10 but so that no such direction or request shall affect any waiver, authorisation or determination previously given or made. Any such waiver, authorisation or determination may be given or made on such terms and subject to such conditions (if any) as the Trustee may determine, shall be binding on the Noteholders, the Receiptholders Holders and the Couponholders and, if, but only if, the Trustee, Trustee shall so require, shall be notified by the Issuer to the Noteholders Holders in accordance with Condition 14 as soon as practicable thereafter.

WAIVER, AUTHORISATION AND DETERMINATION. (A) THE 19.1 The Trustee may, may without the consent or sanction of the Noteholders, Receiptholders or Couponholders Noteholders and without prejudice to its rights in respect of any subsequent breach, Event of Default or Potential Event of Default, Default from time to time and at any time but only if and in so far as in its opinion the interests of the Noteholders shall not be materially prejudiced thereby waive or authorise any breach or proposed breach by the Issuer, PT Issuer or PTC the Guarantors of any of the covenants or provisions contained in these presents or determine that any Event of Default or Potential Event of Default shall not be treated as such for the purposes of these presents PROVIDED ALWAYS THAT the Trustee shall not exercise any powers conferred on it by this Clause clause in contravention of any express direction given by Extraordinary Resolution or by a request under Condition 10(a) 11 but so that no such direction or request shall affect any waiver, authorisation or determination previously given or made. Any such waiver, authorisation or determination may be given or made on such terms and subject to such conditions (if any) as the Trustee may determine, shall be binding on the Noteholders, the Receiptholders Noteholders and the Couponholders and, if, but only if, the Trustee, Trustee shall so require, shall be notified by the Issuer to the Noteholders in accordance with Condition 14 13 as soon as practicable thereafter.

WAIVER, AUTHORISATION AND DETERMINATION. (A) THE 19.1 The Trustee may, may without the consent or sanction of the Noteholders, Receiptholders Noteholders or the Couponholders and without prejudice to its rights in respect of any subsequent breach, Event of Default or Potential Event of Default, Default from time to time and at any time but only if and in so far as in its opinion the interests of the Noteholders shall not be materially prejudiced thereby waive or authorise any breach or proposed breach by the Issuer, PT Issuer or PTC any Guarantor of any of the covenants or provisions contained in these presents or determine that any Event of Default or Potential Event of Default shall not be treated as such for the purposes of these presents PROVIDED ALWAYS THAT the Trustee shall not exercise any powers conferred on it by this Clause in contravention of any express direction given by Extraordinary Resolution or by a request under Condition 10(a9 (Events of Default and Enforcement) but so that no such direction or request shall affect any waiver, authorisation or determination previously given or made. Any such waiver, authorisation or determination may be given or made on such terms and subject to such conditions (if any) as the Trustee may determine, shall be binding on the Noteholders, the Receiptholders Noteholders and the Couponholders and, if, but only if, the Trustee, Trustee shall so require, shall be notified by the Issuer to the Noteholders in accordance with Condition 14 13 (Notices) as soon as practicable thereafter.thereafter.‌

WAIVER, AUTHORISATION AND DETERMINATION. (A) THE Trustee may, without the consent of the Noteholders, Receiptholders or Couponholders and may without prejudice to its rights in respect of any subsequent breach, Event of Default or Potential Event of Default, Default from time to time and at any time but only if and in so far as in its opinion the interests of the Noteholders shall not be materially prejudiced thereby waive or authorise any breach or proposed breach by any of the Issuer, PT or PTC Issuers of any of the covenants or provisions contained in these presents or de determine that any Event of Default or Potential Event of Default shall not be treated as such for the purposes of these presents PROVIDED ALWAYS THAT the Trustee shall not exercise any powers conferred on it by this Clause in contravention of any express direction given by Extraordinary Resolution or by a request under Condition 10(a) Condition10 but so that no such direction or request shall affect any waiver, authorisation or determination previously given or made. Any such waiver, authorisation or determination may be given or made on such terms and subject to such conditions (if any) as the Trustee may determine, shall be binding on the Noteholders, the Receiptholders and the Couponholders and, if, but only if, the Trustee, Trustee shall so require, shall be notified by the relevant Issuer to the Noteholders in accordance with Condition 14 Condition16 as soon as practicable thereafter.

WAIVER, AUTHORISATION AND DETERMINATION. (A) THE 18.1 The Note Trustee may, without the consent or sanction of the Noteholders, Receiptholders or Couponholders Noteholders and without prejudice to its rights in respect of any subsequent breach, Event of Default or Potential Event of Default, from time to time and at any time but only if and in so far as in its opinion the interests of the Noteholders shall not be materially prejudiced thereby waive or authorise any breach or proposed breach by the Issuer, PT Eighth Issuer or PTC any other party thereto of any of the covenants or provisions contained in these presents or any of the other Transaction Documents or determine that any Event of Default or Potential Note Event of Default shall not be treated as such for the purposes of these presents PROVIDED ALWAYS THAT the Note Trustee shall not exercise any powers conferred on it by this Clause in contravention of any express direction given by Extraordinary Resolution or by a request under Condition 10(a) 9 or 10 but so that no such direction or request shall affect any waiver, authorisation or determination previously given or made. Any such waiver, authorisation or determination may be given or made on such terms and subject to such conditions (if any) as the Note Trustee may determine, shall be binding on the Noteholders, the Receiptholders and the Couponholders Noteholders and, if, but only if, the Trustee, Note Trustee shall so require, shall be notified by the Eighth Issuer to the Noteholders in accordance with Condition 14 as soon as practicable thereafter. The provisions of this Clause 18.1 shall be in lieu of section 316(a)(1)(B) of the Trust Indenture Act and section 316(a)(1)(B) of the Trust Indenture Act is hereby expressly excluded from this Deed and the Eighth Issuer Notes, as permitted by the Trust Indenture Act.

WAIVER, AUTHORISATION AND DETERMINATION. (A) THE 18.1 The Trustee may, without the consent or sanction of the Noteholders, Receiptholders Noteholders or the Couponholders and without prejudice to its rights in respect of any subsequent breach, Event of Default or Potential Event of Default, Default from time to time and at any time but only if and in so far as in its opinion the interests of the Noteholders shall not be materially prejudiced thereby thereby, waive or authorise any breach or proposed breach by the Issuer, PT or PTC Issuer of any of the covenants or provisions contained in these presents or determine that any Event of Default or Potential Event of Default shall not be treated as such for the purposes of these presents PROVIDED ALWAYS THAT provided always that the Trustee shall not exercise any powers conferred on it by this Clause 18.1 in contravention of any express direction given by Extraordinary Resolution or by a request under Condition 10(a9 (Events of Default) or Condition 10 (Enforcement) but so that no such direction or request shall affect any waiver, authorisation or determination previously given or made. Any such waiver, authorisation or determination may be given or made on such terms and subject to such conditions (if any) as the Trustee may determine, shall be binding on the Noteholders, the Receiptholders Noteholders and the Couponholders and, if, but only if, the Trustee, Trustee shall so require, shall be notified by the Issuer to the Noteholders in accordance with Condition 14 12 (Notices) as soon as practicable thereafter.

WAIVER, AUTHORISATION AND DETERMINATION. (A) THE Trustee may, may without the consent or sanction of the Noteholders, Receiptholders or Couponholders Holders and without prejudice to its rights in respect of any subsequent breach, Event of Default or Potential Event of Default, Default from time to time and at any time but only if and in so far as in its opinion the interests of the Noteholders Holders shall not be materially prejudiced thereby waive or authorise any breach or proposed breach by the Issuer, PT or PTC Issuer of any of the covenants or provisions contained in these presents or determine that any Event of Default or Potential Event of Default shall not be treated as such for the purposes of these presents PROVIDED ALWAYS THAT the Trustee shall not exercise any powers conferred on it by this Clause in contravention of any express direction given by Extraordinary Resolution or by a request under Condition 10(a) 12 but so that no such direction or request shall affect any waiver, authorisation or determination previously given or made. Any such waiver, authorisation or determination may be given or made on such terms and subject to such conditions (if any) as the Trustee may determine, shall be binding on the Noteholders, the Receiptholders Holders and the Couponholders and, if, but only if, the Trustee, Trustee shall so require, shall be notified by the Issuer to the Noteholders Holders in accordance with Condition 14 16 as soon as practicable thereafter.

WAIVER, AUTHORISATION AND DETERMINATION. (A) THE 19.1 The Trustee may, may without the consent or sanction of the Noteholders, Receiptholders Noteholders or the Couponholders and without prejudice to its rights in respect of any subsequent breach, Event of Default or Potential Event of Default, Default from time to time and at any time but only if and in so far as in its opinion the interests of the Noteholders shall not be materially prejudiced thereby waive or authorise any breach or proposed breach by the Issuer, PT relevant Issuer or PTC the Guarantor of any of the covenants or provisions contained in these presents or determine that any Event of Default or Potential Event of Default shall not be treated as such for the purposes of these presents PROVIDED ALWAYS THAT provided always that the Trustee shall not exercise any powers conferred on it by this Clause in contravention of any express direction given by Extraordinary Resolution or by a request under Condition 10(a) 10 but so that no such direction or request shall affect any waiver, authorisation or determination previously given or made. Any such waiver, authorisation or determination may be given or made on such terms and subject to such conditions (if any) as the Trustee may determine, shall be binding on the Noteholders, the Receiptholders Noteholders and the Couponholders and, if, but only if, the Trustee, Trustee shall so require, shall be notified by the relevant Issuer to the Noteholders in accordance with Condition 14 as soon as practicable thereafter.

WAIVER, AUTHORISATION AND DETERMINATION. (A) THE 18.1 The Trustee may, may without the consent or sanction of the Noteholders, Receiptholders or Couponholders Bondholders and without prejudice to its rights in respect of any subsequent breach, Event of Default or Potential Event of Default, Default from time to time and at any time but only if and in so far as in its opinion the interests of the Noteholders Bondholders shall not be materially prejudiced thereby waive or authorise any breach or proposed breach by the Issuer, PT or PTC Issuer of any of the covenants or provisions contained in these presents or determine that any Event of Default or Potential Event of Default shall not be treated as such for the purposes of these presents PROVIDED ALWAYS THAT the Trustee shall not exercise any powers conferred on it by this Clause clause in contravention of any express direction given by Extraordinary Resolution or by a request under Condition 10(a10(b) but so that no such direction or request shall affect any waiver, authorisation or determination previously given or made. Any such waiver, authorisation or determination may be given or made on such terms and subject to such conditions (if any) as the Trustee may determine, shall be binding on the Noteholders, the Receiptholders and the Couponholders Bondholders and, if, but only if, the Trustee, Trustee shall so require, shall be notified by the Issuer to the Noteholders Bondholders in accordance with Condition 14 16 as soon as practicable thereafter.

WAIVER, AUTHORISATION AND DETERMINATION. (A) THE Trustee may, may without the consent or sanction of the Noteholders, the Receiptholders or the Couponholders and without prejudice to its rights in respect of any subsequent breach, Event of Default or Potential Event of Default, Default from time to time and at any time but only if and in so far as in its opinion the interests of the Noteholders shall not be materially prejudiced thereby waive or authorise any breach or proposed breach by the Issuer, PT or PTC relevant Issuer of any of the covenants or provisions contained in these presents or determine that any Event of Default or Potential Event of Default shall not be treated as such for the purposes of these presents PROVIDED ALWAYS THAT the Trustee shall not exercise any powers conferred on it by this Clause in contravention of any express direction given by Extraordinary Resolution or by a request under Condition 10(a) 10 but so that no such direction or request shall affect any waiver, authorisation or determination previously given or made. Any such waiver, authorisation or determination may be given or made on such terms and subject to such conditions (if any) as the Trustee may determine, shall be binding on the Noteholders, the Receiptholders and the Couponholders and, if, but only if, the Trustee, Trustee shall so require, shall be notified by the relevant Issuer to the Noteholders in accordance with Condition 14 as soon as practicable thereafter.. Back to Contents

WAIVER, AUTHORISATION AND DETERMINATION. (A) THE The Trustee may, without the consent or sanction of the Noteholders, the Receiptholders or the Couponholders and without prejudice to its rights in respect of any subsequent breach, Event of Default or Potential Event of Default, Default from time to time and at any time but only if and in so far as in its opinion the interests of the Noteholders shall not be materially prejudiced thereby thereby, waive or authorise any breach or proposed breach by the Issuer, PT Issuer or PTC the Guarantor of any of the covenants or provisions contained in these presents or determine that any Event of Default or Potential Event of Default shall not be treated as such for the purposes of these presents PROVIDED ALWAYS THAT the Trustee shall not exercise any powers conferred on it by this Clause in contravention of any express direction given by Extraordinary Resolution or by a request under Condition 10(a) 9 but so that no such direction or request shall affect any waiver, authorisation or determination previously given or made. Any such waiver, authorisation or determination may be given or made on such terms and subject to such conditions (if any) as the Trustee may determine, shall be binding on the Noteholders, the Receiptholders and the Couponholders and, if, but only if, the Trustee, Trustee shall so require, shall be notified by the Issuer to the Noteholders in accordance with Condition 14 13 as soon as practicable thereafter.