Tier 2 Notes definition
Examples of Tier 2 Notes in a sentence
Unless previously redeemed or purchased and cancelled as specified below, each nominal amount of Ordinary Notes and Tier 2 Notes equal to the Calculation Amount will be redeemed by the Issuer at the Final Redemption Amount specified in the applicable Final Terms in the relevant Specified Currency on the Maturity Date.
Terms defined in the Terms and Conditions of the [Tier 2 Notes] / [Tier 3 Notes] shall have the same meaning when used herein.
The Issuer has established a Euro Medium Term Note Programme (the “Programme”) for the issuance of senior notes (the “Senior Notes”), tier 2 notes (the “Tier 2 Notes”) and tier 3 notes (the “Tier 3 Notes” and, together with the Senior Notes and the Tier 2 Notes, the “Notes”), in connection with which it has entered into a dealer agreement dated the date hereof, as amended or supplemented from time to time (the “Dealer Agreement”).
The Tier 2 Notes and the Coupons relating thereto (if any) constitute unsecured and, in accordance with paragraph (ii) below, subordinated obligations of the Issuer and rank pari passu without any preference among themselves.
Subject to applicable law, neither any Tier 2 Noteholder or Tier 2 Couponholder nor the Trustee may exercise or claim any right of set-off or netting in respect of any amount owed to it by the Issuer arising under or in connection with the Tier 2 Notes or the Tier 2 Coupons and each Tier 2 Noteholder and Tier 2 Couponholder shall, by virtue of its subscription, purchase or holding of any Tier 2 Note or Tier 2 Coupon, be deemed to have waived all such rights of set-off and netting.
In the absence of any such report to the contrary, it shall for the purposes hereof be assumed (unless the contrary is proved prior to the date of payment or, for the purposes of the second and fourth trusts of Clause 10, within 30 days after receipt by the Trustee of any moneys in respect of such Tier 2 Notes) that the Issuer is and will after any payment hereunder satisfy the Solvency Condition for the purposes of subparagraph 7.1 above.
The Trustee shall give notice to the relevant Holders in accordance with Condition 14 of the Senior Notes and Condition 21 of the Tier 2 Notes, as the case may be, of the day fixed for any payment to them under Clause 10.
Neither the Trustee nor the Issuer shall be required to give any notice to Couponholders for any purpose under these presents and the Couponholders shall be deemed for all purposes to have notice of the contents of any notice given to the holders of Bearer Notes in accordance with Condition 14 of the Senior Notes or Condition 21 of the Tier 2 Notes, as the case may be,.
The Trustee may agree with the Issuer without the consent of the Noteholders or Couponholders to any modification to this Trust Deed, the Tier 2 Conditions or Tier 3 Conditions, the Agency Agreement or the Calculation Agency Agreement in relation to the Tier 2 Notes or Tier 3 Notes (as applicable) which is in its opinion not materially prejudicial to the interests of the Noteholders, provided that such power shall not extend to any of the matters specified in the proviso to paragraph 2 of Schedule 3.
This Condition 5(g) shall apply to the extent purchases of Ordinary Notes or Tier 2 Notes, as the case may be, are not prohibited by the Loss Absorption Regulations or the Capital Regulations, respectively.