JPMORGAN CHASE & CO. - Irish Stock Exchange
JPMORGAN CHASE & CO. - Irish Stock Exchange
JPMORGAN CHASE & CO. - Irish Stock Exchange
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(d)<br />
(e)<br />
(f)<br />
there will at all times be a Paying Agent and a Transfer Agent in a jurisdiction within continental<br />
Europe, other than the United Kingdom;<br />
there will at all times be an <strong>Exchange</strong> Agent; and<br />
the Issuer undertakes that it will ensure that it maintains a Transfer Agent in a Member State of the<br />
European Union that is not obliged to withhold or deduct tax pursuant to European Council Directive<br />
2003/48/EC or any law implementing or complying with, or introduced in order to conform to, such<br />
Directive.<br />
Any variation, termination, appointment or change shall only take effect (other than in the case of insolvency,<br />
when it shall be of immediate effect) after not less than 30 nor more than 45 days’ prior notice thereof shall<br />
have been given to the Noteholders in accordance with Condition 16.<br />
In addition, the Issuer shall forthwith appoint a Paying Agent having a specified office in New York City in the<br />
circumstances described in Condition 6(c). Any variation, termination, appointment or change shall only take<br />
effect (other than in the case of insolvency, when it shall be of immediate effect) after not less than 30 nor more<br />
than 45 days’ prior notice thereof shall have been given to the Noteholders in accordance with Condition 16.<br />
In acting under the Agency Agreement, the Agent, the Registrar, the other Transfer Agents and the <strong>Exchange</strong><br />
Agent act solely as agents of the Issuer and do not assume any obligation to, or relationship of agency or trust<br />
with, any Noteholders. The Agency Agreement contains provisions permitting any entity into which the Agent,<br />
the Registrar, any Transfer Agent or the <strong>Exchange</strong> Agent is merged or converted or with which it is<br />
consolidated or to which it transfers all or substantially all of its assets to become the successor agent, registrar,<br />
transfer agent or exchange agent, as the case may be.<br />
11. Consolidation, Merger and Substitution<br />
(a)<br />
(b)<br />
The Issuer will not merge or consolidate with, or sell or convey all or substantially all of its assets to any other<br />
corporation, unless (i) either (A) the Issuer shall be the surviving corporation in the case of a merger or (B) the<br />
surviving, resulting or transferee corporation (the “successor corporation”) (I) shall be a United States<br />
corporation or, if not a United States corporation, shall agree to indemnify the holders of Notes, Receipts or<br />
Coupons against any tax, assessment or governmental charge thereafter imposed on or as a result of payments<br />
to each holder as a consequence of such consolidation, merger, sale or conveyance and (II) shall expressly<br />
assume the due and punctual payment of the principal of and interest on all the Notes, according to their tenor,<br />
and the due and punctual performance of all of the covenants and obligations of the Issuer under the Notes,<br />
Receipts and Coupons and Agency Agreement, by such successor corporation becoming a party to the Agency<br />
Agreement, with any appropriate consequential amendments, as if it had been an original party to it and (ii) the<br />
Issuer or such successor corporation, as the case may be, shall not, immediately after such merger,<br />
consolidation, sale or conveyance, be in default in the performance of any covenants or obligations, of the<br />
Issuer under the Notes, Receipts, Coupons or Agency Agreement.<br />
Upon any merger, consolidation, sale or conveyance as provided in paragraph (a) above, the successor<br />
corporation shall succeed to and be substituted for, and may exercise every right and power of and be subject to<br />
all the obligations of, the Issuer under the Notes, Receipts, Coupons, and Agency Agreement, with the same<br />
effect as if the successor corporation had been named as the Issuer therein and herein and the Issuer shall be<br />
released from its liability as obligor under the Notes, Receipts, Coupons, and Agency Agreement.<br />
(c) (i) The Issuer may, without the consent of the Noteholders, Receiptholders or Couponholders, be<br />
replaced and substituted by any Affiliate (as defined below) as principal debtor (the “Substituted<br />
Debtor”) in respect of any one or more Series of Notes and any related Coupons and Receipts<br />
provided that in relation to such Notes, Coupons and Receipts:<br />
(A)<br />
the creditworthiness of the Substituted Debtor at such time is at least equal to the<br />
creditworthiness of the Issuer in the sole and absolute opinion of the Agent;<br />
63