Common use of Payment after a Default Clause in Contracts

Payment after a Default. At any time after an Event of Default or a Potential Event of Default has occurred the Trustee may: 2.4.1 by notice in writing to the Issuer and the Paying Agents, require the Paying Agents, until notified by the Trustee to the contrary, so far as permitted by applicable law: (i) to act as Paying Agents of the Trustee under this Trust Deed and the Notes on the terms of the Paying Agency Agreement (with consequential amendments as necessary and except that the Trustee’s liability for the indemnification, remuneration and expenses of the Paying Agents will be limited to the amounts for the time being held by the Trustee in respect of the Notes on the terms of this Trust Deed) and thereafter to hold all Notes and Coupons and all moneys, documents and records held by them in respect of Notes and Coupons to the order of the Trustee or (ii) to deliver all Notes and Coupons and all moneys, documents and records held by them in respect of the Notes and Coupons to the Trustee or as the Trustee directs in such notice and 2.4.2 by notice in writing to the Issuer require it to make all subsequent payments in respect of the Notes and Coupons to or to the order of the Trustee and not to the Principal Paying Agent.

Payment after a Default. At any time after an Event of Default or a Potential Event of Default has occurred the Trustee may: 2.4.1 by notice in writing to the Issuer and the Paying Agents, require the Paying Agents, until notified by the Trustee to the contrary, so far as permitted by applicable law: (i) : to act as Paying Agents of the Trustee under this Trust Deed and the Notes Bonds on the terms of the Paying Agency Agreement (with consequential amendments as necessary and except that the Trustee’s 's liability for the indemnification, remuneration and expenses of the Paying Agents will be limited to the amounts for the time being held by the Trustee in respect of the Notes Bonds on the terms of this Trust Deed) and thereafter to hold all Notes Bonds and Coupons and all moneys, documents and records held by them in respect of Notes Bonds and Coupons to the order of the Trustee or (ii) or to deliver all Notes Bonds and Coupons and all moneys, documents and records held by them in respect of the Notes Bonds and Coupons to the Trustee or as the Trustee directs in such notice and 2.4.2 by notice in writing to the Issuer and until such notice is withdrawn require it to make all subsequent payments in respect of the Notes Bonds and Coupons to or to the order of the Trustee and not to the Principal Paying Agent.

Payment after a Default. At any time after an Event of Default or a Potential Event of Default has occurred the Trustee may: 2.4.1 by notice in writing to the Issuer Issuer, the Guarantor and the Paying Agents, require the Paying AgentsAgents (or such of them as are specified by the Trustee), until notified by the Trustee to the contrary, so far as permitted by applicable law: (i) to act as Paying Agents of the Trustee under this Trust Deed and the Notes Bonds on the terms of the Paying Agency Agreement (with consequential amendments as necessary and except that the Trustee’s liability for the indemnification, remuneration and expenses of the Paying Agents will be limited to the amounts for the time being held by the Trustee in respect of the Notes Bonds on the terms of this Trust DeedDeed and available for that purpose) and thereafter to hold all Notes and Coupons Bonds and all moneys, documents and records held by them in respect of Notes and Coupons Bonds to the order of the Trustee Trustee; or (ii) to deliver all Notes and Coupons Bonds and all moneys, documents and records held by them in respect of the Notes and Coupons Bonds to the Trustee or as the Trustee directs in such notice notice; and 2.4.2 by notice in writing to the Issuer and the Guarantor require it them to make all subsequent payments in respect of the Notes and Coupons Bonds to or to the order of the Trustee and not to the Principal Paying AgentAgent with effect from the issue of any such notice to the Issuer and the Guarantor; and from then until such notice is withdrawn, proviso (i) to Clause 2.2 above shall cease to have effect.

Payment after a Default. At any time after an Event of Default or a Potential Event of Default has occurred the Trustee may: 2.4.1 by notice in writing to the Issuer and the Paying Agents, require the Paying Agents, until notified by the Trustee to the contrary, so far as permitted by applicable law: (i) to act as Paying Agents of the Trustee under this Trust Deed and the Notes on the terms of the Paying Agency Agreement (with consequential amendments as necessary and except that the Trustee’s liability for the indemnification, remuneration and expenses of the Paying Agents will be limited to the amounts for the time being held by the Trustee in respect of the Notes on the terms of this Trust Deed) and thereafter to hold all Notes and Coupons and all moneys, documents and records held by them in respect of Notes and Coupons to the order of the Trustee or (ii) to deliver all Notes and Coupons and all moneys, documents and records held by them in respect of the Notes and Coupons to the Trustee or as the Trustee directs in such notice and 2.4.2 by notice in writing to the Issuer and until such notice is withdrawn require it to make all subsequent payments in respect of the Notes and Coupons to or to the order of the Trustee and not to the Principal Paying Agent.