Class A Noteholders Sample Clauses

Class A Noteholders. The Note Trustee in its absolute discretion may give notice to the Current Issuer and the Security Trustee of a Current Issuer Note Event of Default (as defined below) in respect of the Class A Notes (a "Class A Note Enforcement Notice"), and shall give such notice if it is indemnified to its satisfaction and (1) if so requested in writing by the Holders of not less than 25 per cent. in aggregate Principal Amount Outstanding of the Class A Notes or (2) if so directed by or pursuant to an Extraordinary Resolution passed at a meeting of the Class A Noteholders, declaring (in writing) the Notes to be due and repayable (and they shall forthwith become due and repayable) at any time after the happening of any of the following events which is continuing or unwaived: (i) default being made for a period of seven Business Days in the payment of any amount of principal of any Class A Note when and as the same ought to be paid in accordance with these Conditions or default being made for a period of fifteen Business Days in the payment of any amount of interest on any Class A Note when and as the same ought to be paid in accordance with these Conditions; or (ii) the Current Issuer failing duly to perform or observe any other obligation binding upon it under the Class A Notes, the Current Issuer Trust Deed, the Current Issuer Deed of Charge or any other Transaction Document and, in any such case (except where the Note Trustee certifies that, in its opinion, such failure is incapable of remedy, in which case no notice will be required), such failure is continuing unremedied for a period of 30 days following the service by the Note Trustee on the Current Issuer of notice requiring the same to be remedied and the Note Trustee has certified that the failure to perform or observe is materially prejudicial to the interests of the Class A Noteholders; or 111 (iii) the Current Issuer, otherwise than for the purposes of such amalgamation or reconstruction as is referred to in sub-paragraph (iv) below, ceases or threatens to cease to carry on its business or a substantial part of its business or the Current Issuer is deemed unable to pay its debts within the meaning of section 123(1)(a), (b), (c) or (d) of the Insolvency Act 1986 (as that section may be amended, modified or re-e▇▇▇▇▇▇) or becomes unable to pay its debts within the meaning of section 123(2) of the Insolvency Act 1986 (as that section may be amended, modified or re-enacted); or (iv) an order being made or an effe...