Common use of PRA Clause in Contracts

PRA. The Company may only make a Company Request as provided under Article 4 of this Subordinated Debt Securities Indenture provided that (a) upon CRD IV taking effect in the United Kingdom, such right shall only apply if, when and to the extent not prohibited by CRD IV, (b) the Company (except to the extent that the PRA no longer so requires) has notified the PRA of its intention to do so at least one month (or such other, longer or shorter period, as the PRA may then require or accept) before the Company makes such Company Request and no objection thereto has been raised by the PRA or (if required) the PRA has provided its consent thereto and (c) (except to the extent that the PRA no longer so requires) when giving notice to the PRA, the Company shall provide details in order to demonstrate that following satisfaction and discharge of the Subordinated Debt Securities Indenture, the Company will be able to meet its capital resources requirements and have sufficient financial resources to meet the PRA’s overall financial adequacy rule, each as provided in the Capital Regulations.