Bond Conditions definition
Examples of Bond Conditions in a sentence
NOTE: The following information is given for purposes of information of the Holder but does not form part of the N Covered Bond Conditions.
The Issuer has the obligation to inform the Bondholders within 15 (fifteen) business days, if one or more articles of these Bond Conditions change and/or are no longer correct.
Any modification so made shall be binding on the Noteholders, Covered Bondholders and the Couponholders and shall be notified to the Noteholders and Covered Bondholders in accordance with Condition 13 of the Note Conditions and Condition 12 of the Covered Bond Conditions, as applicable, as soon as practicable after it has been agreed.
In addition, the Issuer shall immediately appoint a Paying Agent having a specified office in New York City in the circumstances described in Condition 5.4 of both the Note Conditions and the Covered Bond Conditions.
The Agent shall, at the expense of the Issuer, immediately on receiving any amount as described in subclause 6.4(b), cause notice of that receipt to be published under Condition 13 of the Note Conditions or Condition 12 of the Covered Bond Conditions, as applicable.
Any variation, termination, appointment or change shall only take effect (other than in the case of insolvency (as provided in subclause 20.5) when it shall be of immediate effect) after not less than 30 nor more than 45 days' prior notice shall have been given to the Noteholders and Covered Bondholders in accordance with Condition 13 of the Note Conditions and Condition 12 of the Covered Bond Conditions, as applicable.
Each Paying Agent shall provide by email to a Noteholder or Covered Bondholder copies of all documents required to be so available by the Note Conditions or Covered Bond Conditions, following the Noteholder’s or Covered Bondholder’s prior written request and provision of proof of holding and identity (in a form satisfactory to the relevant Paying Agent).
Notwithstanding the foregoing or Agreement Accounting Principles to the contrary, so long as the Spinco High Yield Bond Conditions are satisfied, neither the Spinco High Yield Bond Financing, nor or any interest, fees or expenses in connection therewith, shall be included in determining compliance with the covenants in this Section 7.4.
The Principal Paying Agent shall, at the expense of the Issuer, as soon as reasonably practicable on receiving any amount as described in paragraph (b) above, cause notice of that receipt to be published in accordance with Condition 13 (Notices) of the Programme Conditions or, in the case of an N Covered Bond, in accordance with the relevant N Covered Bond Conditions (as applicable) and the N Covered Bond Confirmation (incorporating the N Covered Bond Confirmation Terms).
The N Covered Bond Paying Agent shall pay any amounts so received to the holders of the N Covered Bonds in accordance with the N Covered Bond Conditions and the N Covered Bond Registrar shall record the making of such payments (being N Covered Bond Payments).