Permitted Realisations Clause Samples

Permitted Realisations. (a) UBS shall, and shall be permitted to, conduct Permitted Realisations of the Covered Assets. (b) A Realisation of a Covered Asset is permitted (each a “Permitted Realisation”) if: (i) the Realisation is: (A) a direct Realisation; or (B) an indirect Realisation by sale or other disposal of a Covered Entity or the Holding Company of a Covered Entity either as permitted in compliance with the Governance Policy or if there is no Governance Policy, with the prior written consent of the Confederation, such consent not to be unreasonably withheld or delayed; and (ii) one of the following requirements is fulfilled: (A) an Initial Valuation of such Covered Asset has been finally determined in accordance with Clause 5.1 before the Realisation Date, or, if no such Initial Valuation has been finally determined before the Realisation Date: (1) the Realisation is closed within 120 days of the Closing Date; and (2) the Net Loss Amount resulting from such Realisation (when aggregated with the Net Loss Amount resulting from the Realisations of all other Covered Assets for which no Initial Valuation has been determined in accordance with Clause 5.1 before the respective Realisation Dates) does not exceed CHF 200,000,000 (or such higher amount as the Parties may agree); (B) (without prejudice to paragraph (a)(v) of Clause 4.1.