Direct Rights Sample Clauses

Direct Rights for the Accountholders to enjoy the Direct Rights; or

Direct Rights. 2.1 If circumstances arise that would give the bearer of any Global Note the right to exchange that Global Note for Definitive Notes in accordance with the terms of such Global Note, each Relevant Account Holder shall have against the Issuer all rights in respect of the Debt (Direct Rights) which such Relevant Account Holder would have had under the Notes if, immediately before the Relevant Date, it had been the holder of Definitive Notes, duly executed, authenticated and issued in respect of each Underlying Note including (without limitation) the right to receive all payments due at any time in respect of such Definitive Notes as if such Definitive Notes had been duly presented and (in the case of final redemption of a Definitive Note) surrendered on the due date in accordance with the terms of such Note, provided that such Direct Rights shall cease to exist if the Issuer makes payment of the full amount due under the Debt or any interest due thereon to the bearer of the Global Note in accordance with the terms thereof. 2.2 No further action shall be required on the part of the Issuer or any other person for the Relevant Account Holders to enjoy the Direct Rights or for each Relevant Account Holder to have the benefit of the terms and conditions of the Notes represented by the Global Note as if they had been incorporated mutatis mutandis into this Deed provided that nothing herein shall entitle any Relevant Account Holder to receive any payment in respect of the relevant Global Note which has already been made. 2.3 There shall be treated as incorporated into this Deed and with respect to the Direct Rights and any sums payable in relation thereto, all those provisions of the Notes represented by the relevant Global Note (immediately before it became void) relating to the amount of any sum payable by the Issuer or the time and manner in which any such amount should be paid (including, without limitation, any grossing-up provision in any Global Note) but as if references in such provisions to (a) any Note or to any principal of, or other amount payable on, any Note were references to the Direct Rights or to sums payable with respect to the Direct Rights and (b) any holder of any Note were references to the applicable Relevant Account Holder.

Direct Rights. The Parties agree that this Agreement irrevocably constitutes in favour of each Beneficiary the right, if and when a Global Note becomes void in accordance with the terms thereof, to exercise against the Issuer the Direct Rights applicable to such Beneficiary and such Global Note. The Issuer agrees that such Direct Rights shall, by virtue of this Agreement, be automatically acquired by each such Beneficiary immediately upon the relevant Global Note becoming void, without any need for any further action by any person. Accordingly, each Beneficiary shall be able and entitled severally to enforce against the Issuer all rights which the Beneficiary in question would have had against the Issuer if, immediately before the applicable Relevant Time, Definitive Notes had been issued to the Beneficiary by the Issuer in exchange for the Beneficiary’s interest in the relevant Global Note as evidenced by the relevant Entry at the applicable Relevant Time, including, without limitation, rights to receive principal of, any interest on, and the benefit of any other obligations pursuant to, such Definitive Notes, and such Definitive Notes would have been in the physical possession of that Beneficiary.

Direct Rights. 3.1 If at any time the bearer of any Global Note ceases to have rights under it in accordance with its terms, each Accountholder shall have against the relevant Issuer all rights (Direct Rights) which such Accountholder would have had in respect of the Notes if, immediately before the Relevant Time, it had been the Holder of (a) Definitive Note(s), duly completed, executed, authenticated and issued, in an aggregate principal amount equal to the Principal Amount of such Accountholder's Entries relating to such Global Note including, (without limitation) the right to receive all payments due at any time in respect of the Notes represented by such Definitive Note(s) as if such Definitive Note(s) had (where required by the Conditions) been duly presented and (where required by the Conditions) surrendered on the due date in accordance with the Conditions. 3.2 No further action shall be required on the part of the Issuer or any other person: (a) for the Accountholders to enjoy the Direct Rights; and (b) for each Accountholder to have the benefit of the Conditions as if they had been incorporated mutatis mutandis into this Deed of Covenant;

Direct Rights. 2.1 The Company hereby covenants with and in favour of each Rights Holder to perform the Company's obligations under the Rights Agreement, and each Rights Holder shall have against the Company the right (the "Direct Rights") to enforce the provisions of the Rights Agreement in accordance with the terms of the Rights Agreement. 2.2 No further action shall be required on the part of the Company or any other person for the Rights Holders to enjoy the Direct Rights.

Direct Rights. If a Global Certificate becomes void in accordance with clause 10.1: (a) the bearer of the Global Certificate shall have no further rights in respect thereof. In such event, each Conventional MTNholder shall acquire against the Issuer all rights (“Direct Rights”) which it would have had if, immediately before the time at which the Global Certificate becomes void, it had been the holder of Definitive MTNs in an aggregate amount equal to that of its interest in such Global Certificate including without limitation the right to receive all payments due at any time in respect of such Definitive MTNs other than payments corresponding to any sum already made under the Global Certificate; (b) no further action shall be required on the part of any person in order for Direct Rights to be acquired as contemplated by sub-clause 10.2(a) above and for each Conventional MTNholder to have the benefit of, and to enforce, rights corresponding to all the provisions of the terms and conditions of the relevant Definitive MTNs; (c) any list of ADIs provided by the Central Depository (in the case of an ADI’s Own Securities Account) and by those ADIs (in the case of an ADI’s Aggregate Customers’ Securities Account), stating as at a particular time: (i) the name of the ADIs; (ii) the entries in the Own Securities Account and Aggregate Customers’ Securities Account of such ADI with the Central Depository as at that time; and (iii) the principal amount of Conventional MTNs the entitlement to which is recorded in such accounts of the Central Depository (in the case of an ADI’s Own Securities Account) and in the accounts of the ADI (in the case of an ADI’s Aggregate Customers’ Securities Account), shall, in the absence of manifest error, be conclusive evidence o f the identity and entitlements of the Conventional MTNholders at that time; (d) subject to Condition 9.2, any Conventional MTNholder may enforce its rights arising out of this Deed in respect of any entry to which it is entitled in its own name without the necessity of using the name of or obtaining any authority from any predecessor in title; (e) any Conventional MTNholder is entitled to receive payment of the Nominal Value of the Conventional MTNs the entitlement to which is recorded in the records mentioned in clause 10.2(c) and of all other sums referable to its Direct Rights to the exclusion of any other person and payment in full by the Issuer for the account of such Conventional MTNholder in accordance with these prese...

Direct Rights. Each Relevant Account Holder shall at the Relevant Time acquire against the Issuer all rights which the Relevant Account Holder in question would have had if, immediately before the Relevant Time, it had been the holder of the Certificates issued on the issue date of this Global Certificate in an aggregate principal amount equal to the Principal Amount of the relevant Entry including, without limitation, the right to receive all payments due at any time in respect of such Certificates, other than payments corresponding to any already made under this Global Certificate. No further action shall be required on the part of any person in order for such Direct Rights to be acquired and for each Relevant Account Holder to have the benefit of, and to enforce, rights corresponding to all the provisions of relevant Certificates as if they had been issued and as if such provisions had been specifically incorporated in this Schedule, other than the right to receive payments corresponding to any already made under this Global Certificate.

Direct Rights. 3.1 If any Global Instrument becomes void in accordance with its terms, each Accountholder shall have against the Issuer all rights ("Direct Rights") which such Accountholder would have had in respect of the Instruments if, immediately before the Determination Date, it had been the Holder of a Definitive Instrument, duly completed, executed, authenticated and issued, in an aggregate principal amount equal to the Principal Amount of such Accountholder's Entries relating to such Global Instrument including, (without limitation) the right to receive all payments due at any time in respect of the Instruments represented by such Definitive Instrument as if such Definitive Instrument had (where required by the Conditions) been duly presented and (where required by the Conditions) surrendered on the due date in accordance with the Conditions. 3.2 No further action shall be required on the part of the Issuer or any other person: (a) for the Accountholders to enjoy the Direct Rights; and (b) for each Accountholder to have the benefit of the Conditions as if they had been incorporated mutatis mutandis into this Deed of Covenant;

Direct Rights. 3.1 If at any time the bearer of the Global Note ceases to have rights under it in accordance with its terms, each Accountholder shall have against the Issuer all rights ("Direct Rights") which such Accountholder would have had in respect of the Notes if, immediately before the Determination Date, it had been the holder of a Definitive Note, duly completed, executed, authenticated and issued, in an aggregate principal amount equal to the Principal Amount of such Accountholder's Entries relating to such Global Note including, (without limitation) the right to receive all payments due at any time in respect of the Notes represented by such Definitive Note as if such Definitive Note had (where required by the Conditions) been duly presented and (where required by the Conditions) surrendered on the due date in accordance with the Conditions. 3.2 No further action shall be required on the part of the Issuer or any other person: (a) for the Accountholders to enjoy the Direct Rights; and (b) for each Accountholder to have the benefit of the Conditions as if they had been incorporated mutatis mutandis into this Deed of Covenant,