Common use of Payments upon Termination Events and Additional Termination Events Clause in Contracts

Payments upon Termination Events and Additional Termination Events. If a Termination Event or Additional Termination Event occurs, the relevant Issuer will cause to be paid to each Holder in respect of each relevant Security held by it an amount determined by the Calculation Agent in its sole and absolute discretion as representing the fair market value of such Security immediately prior to such termination (ignoring, in the case of a Termination Event, such illegality or impracticality) or an amount otherwise determined by the Calculation Agent in its sole and absolute discretion as specified in the relevant Terms. Payment will be made through the Relevant Settlement System and shall be notified to the Holders in accordance with the procedure set out in Condition 14. Such amount will be payable by the relevant Issuer to the Holder net of any Expenses that arise on termination whether or not required by any Applicable Law to be deducted or withheld from the payment.

Payments upon Termination Events and Additional Termination Events. If a Termination Event or Additional Termination Event occurs, the relevant Issuer will cause to be paid to each Holder in respect of each relevant Security held by it an amount determined by the Calculation Agent in its sole and absolute discretion as representing the fair market value of such Security immediately prior to such termination (ignoring, in the case of a Termination Event, such illegality or impracticality) or an amount otherwise determined by the Calculation Agent in its sole and absolute discretion as specified in the relevant Final Terms. Payment will be made through the Relevant Settlement System and shall be notified to the Holders in accordance with the procedure set out in Condition 14. Such amount will be payable by the relevant Issuer to the Holder net of any Expenses that arise on termination whether or not required by any Applicable Law to be deducted or withheld from the payment.