Negative Pledges Clausole campione

Negative Pledges. (a) Negative Pledge in the case of Unsubordinated Notes issued by, or Notes guaranteed by, Société Générale∗ If the Notes are (i) Unsubordinated Notes issued by Société Générale or (ii) Notes issued by SGA Société Générale Acceptance N.V. or SG Option Europe and guaranteed by Société Générale pursuant to the Guarantee, Société Générale will not, so long as such Notes, or any Receipts or Coupons relating, thereto remain outstanding, create or have outstanding a Security Interest (other than a Permitted Security Interest) upon, or with respect to, any of its present or future business, undertaking, assets or revenues (including any uncalled capital) to secure any Relevant Indebtedness (as defined below), unless Société Générale, in the case of the creation of a Security Interest, before or at the same time and, in any other case, promptly, takes any and all action necessary to ensure that: (i) all amounts payable by it under the Notes and the Coupons are secured by the Security Interest equally and rateably with the Relevant Indebtedness; or (ii) such other Security Interest or other arrangement (whether or not it includes the giving of a Security Interest) is provided as is approved by an Extraordinary Resolution (which is defined in the Agency Agreement as a resolution duly passed by a majority of not less than three- fourths of the votes cast) of the Noteholders. For the purposes of these Conditions: ∗ This italicised statement does not form part of the Terms and Conditions of the Notes. defaults by the obligors in relation to such property or assets; or (ii) a lien arising solely by operation of law.