10.07.2015 Views

Dit prospectus is gemaakt voor de uitgifte van dit product en ... - Iex

Dit prospectus is gemaakt voor de uitgifte van dit product en ... - Iex

Dit prospectus is gemaakt voor de uitgifte van dit product en ... - Iex

SHOW MORE
SHOW LESS

You also want an ePaper? Increase the reach of your titles

YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.

portion of the Rele<strong>van</strong>t Obligations of the Refer<strong>en</strong>ceEntity by way of a Succession Ev<strong>en</strong>t, but no <strong>en</strong>titysucceeds to more than 25 per c<strong>en</strong>t. of the Rele<strong>van</strong>tObligations of the Refer<strong>en</strong>ce Entity and the Refer<strong>en</strong>ceEntity continues to ex<strong>is</strong>t, there will be no Successor andthe Refer<strong>en</strong>ce Entity will not be changed in any way as aresult of the Succession Ev<strong>en</strong>t; and(F)if one or more <strong>en</strong>tities directly or indirectly succeed to aportion of the Rele<strong>van</strong>t Obligations of the Refer<strong>en</strong>ceEntity by way of a Succession Ev<strong>en</strong>t, but no <strong>en</strong>titysucceeds to more than 25 per c<strong>en</strong>t. of the Rele<strong>van</strong>tObligations of the Refer<strong>en</strong>ce Entity and the Refer<strong>en</strong>ceEntity ceases to ex<strong>is</strong>t, the <strong>en</strong>tity which succeeds to thegreatest perc<strong>en</strong>tage of Rele<strong>van</strong>t Obligations (or, if two ormore <strong>en</strong>tities succeed to an equal perc<strong>en</strong>tage of Rele<strong>van</strong>tObligations, the <strong>en</strong>tity from among those <strong>en</strong>tities whichsucceeds to the greatest perc<strong>en</strong>tage of obligations of theRefer<strong>en</strong>ce Entity) will be the sole Successor; and(ii)in relation to a Sovereign Refer<strong>en</strong>ce Entity, any direct or indirectsuccessor(s) to that Refer<strong>en</strong>ce Entity irrespective of whether suchsuccessor(s) assumes any of the obligations of such Refer<strong>en</strong>ceEntity.In the case of (i) above, the Calculation Ag<strong>en</strong>t will be responsible for<strong>de</strong>termining, as soon as reasonably practicable after it becomes aware of therele<strong>van</strong>t Succession Ev<strong>en</strong>t (but no earlier than 14 cal<strong>en</strong>dar days after thelegally effective date of the Succession Ev<strong>en</strong>t), and with effect from thelegally effective date of the Succession Ev<strong>en</strong>t, whether the rele<strong>van</strong>tthresholds set forth above have be<strong>en</strong> met, or which <strong>en</strong>tity qualifies un<strong>de</strong>r(i)(D) above, as applicable. In calculating the perc<strong>en</strong>tages used to <strong>de</strong>terminewhether the rele<strong>van</strong>t thresholds set forth above have be<strong>en</strong> met, or which<strong>en</strong>tity qualifies un<strong>de</strong>r (i)(F) above, as applicable, the Calculation Ag<strong>en</strong>t shalluse, in respect of each applicable Rele<strong>van</strong>t Obligation inclu<strong>de</strong>d in suchcalculation, the amount of the liability in respect of such Rele<strong>van</strong>t Obligationl<strong>is</strong>ted in the Best Available Information and shall, as soon as practicable aftersuch calculation, make such calculation available for inspection byNotehol<strong>de</strong>r(s) at the specified office of the F<strong>is</strong>cal Ag<strong>en</strong>t and, for so long asthe Notes are l<strong>is</strong>ted on the Luxembourg Stock Exchange, at the office of thePaying Ag<strong>en</strong>t in Luxembourg.Where pursuant to paragraph (i)(C) or (i)(D) above, more than one Successorhas be<strong>en</strong> i<strong>de</strong>ntified, the Calculation Ag<strong>en</strong>t shall adjust such of the Terms andCon<strong>dit</strong>ions and/or the rele<strong>van</strong>t Final Terms as it in its sole and absoluted<strong>is</strong>cretion acting in a commercially reasonable manner shall <strong>de</strong>termine to beappropriate to reflect that the rele<strong>van</strong>t Refer<strong>en</strong>ce Entity has be<strong>en</strong> succee<strong>de</strong>dby more than one Successor and shall <strong>de</strong>termine the effective date of thatadjustm<strong>en</strong>t. The Calculation Ag<strong>en</strong>t shall be <strong>de</strong>emed to be acting in acommercially reasonable manner if it adjusts such of the Terms andCon<strong>dit</strong>ions and/or the rele<strong>van</strong>t Final Terms in such a manner as to reflect theadjustm<strong>en</strong>t to and/or div<strong>is</strong>ion of any cre<strong>dit</strong> <strong>de</strong>rivative transaction(s) related toor un<strong>de</strong>rlying the Notes un<strong>de</strong>r the prov<strong>is</strong>ions of the 2003 ISDA Cre<strong>dit</strong>212

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!