Common use of Winding-up or Administration Event Clause in Contracts

Winding-up or Administration Event. If a Winding-Up or Administration Event occurs before the occurrence of a Trigger Event, subject to the subordination provisions of Article 5, the principal amount of the Additional Tier 1 Securities shall become immediately due and payable, without the need of any further action on the part of the Trustee, the Holders or any other Person, including the declaration by the Trustee, the Holders or any other Person that the principal amount of the Additional Tier 1 Securities has become immediately due and payable.

Winding-up or Administration Event. If a Winding-Up or Administration Event occurs before prior to the occurrence of a Trigger Event, subject to the subordination provisions of Article ‎ ‎Article 5, the principal amount of the Additional Tier 1 Securities shall become immediately due and payable, without the need of any further action on the part of the Trustee, the Holders or any other Person, including the declaration by the Trustee, the Holders or any other Person that the principal amount of the Additional Tier 1 Securities has become immediately due and payable.