Physical Delivery Notes Clause Samples
Physical Delivery Notes. (a) Physical Delivery
(i) Asset Transfer Notices In relation to Physical Delivery Notes, in order to obtain delivery of the Asset Amount(s) in respect of any Note:
(A) if such Note is represented by a Global Note, the relevant Noteholder must deliver to Euroclear or Clearstream, Luxembourg (as applicable) (each a relevant Clearing System), with a copy to the Issuer not later than the close of business in each place of reception on the Cut-Off Date, a duly completed Asset Transfer Notice; and
(B) if such Note is in definitive form, the relevant Noteholder must deliver to any Paying Agent with a copy to the Issuer not later than the close of business in each place of reception on the Cut-Off Date, a duly completed Asset Transfer Notice. For the purposes of this Condition:
Physical Delivery Notes. In the case of any Note which is a Physical Delivery Note that is to be redeemed by the transfer of the Deliverable Asset(s) comprising the Physical Delivery Amount, transfer of the Deliverable Asset(s) in respect of any Physical Delivery Amount will be effected (a) by the Delivery to, or to the order of, the Noteholder of the relevant Deliverable Asset(s), (b) at the risk of the relevant Noteholder in such manner as may be specified in the transfer notice (the Transfer Notice, the form of which is annexed to the Agency Agreement) and subject to compliance with applicable securities laws. When the settlement of a Physical Delivery Note is by way of physical delivery, the delivery of any Physical Delivery Amount in respect of Physical Delivery Notes (including, without limitation, liability for the costs of transfer of Deliverable Asset(s)) will be made through the relevant Clearing System. No additional payment or delivery will be due to a Noteholder where any Deliverable Asset(s) is/are delivered after their due date in circumstances beyond the control of either the Issuer or the Settlement Agent. The Transfer Notice will be delivered using the transfer procedures currently utilised by the relevant Clearing System. A Noteholder’s entitlement to any Physical Delivery Amount will be evidenced:
(a) by the Noteholder’s account balance appearing on the records of the relevant Clearing System; and
(b) in the case of Credit Linked Notes, by the account balances appearing in the records of the relevant Clearing System or, if necessary, the number of Notes held by each Noteholder as notified to the Fiscal Agent by the relevant Clearing System. Any delivery of Deliverable Assets will only be made in compliance with applicable securities laws. When the applicable Final Terms specify that “Issuer’s option to vary method of settlement” is applicable, the Issuer may, in its sole and absolute discretion, elect to pay or cause to be paid Noteholders the Final Redemption Amount on the Maturity Date in lieu of its obligation to deliver or procure delivery of the Physical Delivery Amount. Notification of any such election will be given to Noteholders in accordance with Condition 14. For the avoidance of doubt in the event of any inconsistency or discrepancy between (i) any provision of Condition 5 and this Condition 7 regarding settlement of Physical Delivery Notes and (ii) any provision of Conditions 17 to 33 relating to settlement of Physical Delivery Notes, the relevant ...
Physical Delivery Notes. (A) Physical Delivery
(1) Asset Transfer Notices
Physical Delivery Notes