Common use of Enforcement Event Clause in Contracts

Enforcement Event. An enforcement event (an "Enforcement Event") shall occur if: (a) default is made in the payment of any principal or interest due under the Capital Securities or any of them and, in the case of interest only, the default continues for a period of five days (save, in the case of interest where such failure occurs solely as a result of the occurrence of a Non-Payment Event or a Non-Payment Election); (b) default is made in any payment due under the Subordinated Guarantee and the default continues for a period of 14 days; or (c) any one or more of the following events shall occur and be continuing:

Enforcement Event. An enforcement event (an "Enforcement Event") shall occur if: (a) default is made in the payment of any principal or interest due under the Capital Securities or any of them and, in the case of interest only, the default continues for a period of five days Business Days (as defined in Condition 6.4) (save, in the case of interest where such failure occurs solely as a result of the occurrence of a Non-Payment Event or a Non-Payment Election); (b) default is made in any payment due under the Subordinated Guarantee and the default continues for a period of 14 days; or (c) any one or more of the following events shall occur and be continuing: