AND EXCHANGE Clause Samples
The "And Exchange" clause establishes the terms under which parties to a contract will exchange documents, goods, or other deliverables as part of their agreement. Typically, this clause outlines the timing, method, and conditions for the exchange, such as requiring both parties to deliver signed documents simultaneously or to transfer assets upon fulfillment of certain obligations. Its core practical function is to ensure that exchanges occur in a coordinated and secure manner, reducing the risk that one party performs without receiving the agreed consideration from the other.
AND EXCHANGE. (1) Redenomination Where redenomination (Redenomination) is specified in the applicable Final Terms as being applicable, and unless otherwise specified in the applicable Final Terms, the relevant Issuer may, without the consent of any Noteholder, Receiptholder or Couponholder, on giving prior notice to Euroclear, Clearstream, Luxembourg and the Agent and at least 30 days’ prior notice to Noteholders as provided in Condition 16, designate a Redenomination Date. With effect from the Redenomination Date, notwithstanding the other provisions of the Conditions:
(a) the Notes and Receipts shall (unless already so provided by mandatory provisions of applicable law) be deemed to be redenominated in euro in the denomination of euro 0.01 with a nominal amount for each Note and Receipt equal to the nominal amount of the Note or Receipt in the original Specified Currency, converted into euro at the Established Rate, and the Specified Currency shall be deemed to be Euro; provided that, if the relevant Issuer determines, after consultation with the Agent, that the then market practice in respect of the redenomination into euro of internationally offered securities is different from the provisions specified above in this Subclause 30(1)(a) or in the applicable Final Terms, such provisions shall be deemed to be amended so as to comply with such market practice and the relevant Issuer shall promptly notify the Noteholders, the stock exchange (if any) on which the Notes may be listed and the Agent and Paying Agent(s) of such deemed amendments;
(b) if Definitive Notes are required to be issued after the Redenomination Date, they shall be issued at the expense of the relevant Issuer in the denominations of euro 1,000, euro 10,000 and euro 100,000 and (but only to the extent of any remaining amounts less than euro 1,000 or such smaller denominations as the Agent may approve) euro 0.01 and such other denominations as the relevant Issuer, after consultation with the Agent, shall determine and notify to Noteholders;
(c) if Definitive Notes have been issued, all unmatured Coupons and Receipts denominated in the original Specified Currency (whether or not attached to the Notes) will become void and no payments will be made in respect of them with effect from the date on which the relevant Issuer gives notice (the Exchange Notice) that Euro-denominated Notes, Receipts and Coupons are available for exchange (provided that such securities are so available). New certificates in respect...
AND EXCHANGE. TMCC may (if so specified in the applicable Pricing Supplement) without the consent of the holder of any Note, Receipt, Coupon or Talon, redenominate into euro all, but not some only, of the Notes of any Series on or after the date on which the member state of the European Union in whose national currency such Notes are denominated has become a participant member in the third stage of the European economic and monetary union as more fully set out in the applicable Pricing Supplement. TMCC may (if so specified in the applicable Pricing Supplement) without the consent of the holder of any Note, Receipt, Coupon or Talon, elect that the Notes shall be exchangeable for Notes expressed to be denominated in euro in accordance with such arrangements as TMCC may decide.
AND EXCHANGE. Factoring quota: factoring quota is divided into circular and non-circular quota. For the circulating factoring amount, without affecting the other risk bearing restrictions stipulated in this Agreement, the factoring bank shall underwrite the accounts transferred by the factoring bank in accordance with the limits of the factoring amount (including the limitation of proportion or amount). Accounts receivable beyond the scope of insurance are automatically converted to accounts receivable within the scope of insurance after payment by the buyer. factoring bank may cancel, freeze or adjust the factoring amount at any time. from the date the factoring bank notifies the customer, for the accounts receivable subsequently transferred by the customer, the factoring bank shall bear the buyer’s risk according to the adjusted amount, but for the previously assigned accounts receivable, the factoring bank will still bear the risk according to the original amount.