Securities Issuable in Series. (a) Portugal may issue its notes, bonds, debentures or other evidences of indebtedness (the “Securities”) in separate series from time to time (each such series of Securities being hereinafter referred to as a “Series” or the “Securities of a Series”). The aggregate principal amount of the Securities of all Series which may be outstanding at any time is unlimited. The text of the Securities of a Series delivered to the Fiscal Agent (as hereinafter defined) for authentication on original issuance pursuant to Section 3 of this Agreement shall establish (i) the designation of the Securities of such Series (which shall distinguish the Securities of such Series from all other Series); (ii) any limit upon the aggregate principal amount of the Securities of such Series which may be authenticated and delivered under this Agreement (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of such Series pursuant to the provisions of this Agreement or of the Securities of such Series); (iii) the date or dates on which the principal and premium, if any, of the Securities of such Series is payable; (iv) the rate or rates at which the Securities of such Series shall bear interest, the date or dates from which such interest shall accrue, the interest payment dates on which such interest shall be payable and the record dates for the determination of holders of the Securities of such Series to whom interest is payable; (v) the place or places where the principal of, and premium, if any, and interest on the Securities of such Series is payable; (vi) the price or prices at which, the period or periods within which and the terms and conditions upon which Securities of such Series may be redeemed, in whole or in part, at the option of Portugal or otherwise; (vii) the obligation, if any, of Portugal to redeem, purchase or repay Securities of such Series pursuant to any sinking fund or analogous provisions and the price or prices at which, the period or periods within which, and the terms and conditions upon which Securities of such Series shall be redeemed, purchased or repaid, in whole or in part, pursuant to such obligation; (viii) the denominations in which Securities of such Series shall be issuable; (ix) whether the Securities of such Series shall be in fully registered form without interest coupons; (x) any covenants or agreements of Portugal and events which give rise to the right of a holder of a Security of such Series to accelerate the maturity of such Security; and (xi) any other terms of the Securities of such Series. Securities will be issued in fully registered form without interest coupons unless otherwise provided in the text of the Securities, in which case Portugal and the Fiscal Agent may agree upon additional provisions relating to exchanges of temporary global bearer securities for definitive securities and additional paying agents located outside the United States.
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Securities Issuable in Series. (a) Portugal may issue its notes, bonds, debentures or other evidences of indebtedness (the “Securities”) in separate series from time to time (each such series of Securities being hereinafter referred to as a “Series” or the “Securities of a Series”). The aggregate principal amount of the Securities of all Series which may be outstanding at any time is unlimited. The text of the Securities of a Series delivered to the Fiscal Agent (as hereinafter defined) for authentication on original issuance pursuant to Section 3 of this Agreement shall establish (i) the designation of the Securities of such Series (which shall distinguish the Securities of such Series from all other Series); (ii) any limit upon the aggregate principal amount of the Securities of such Series which may be authenticated and delivered under this Agreement (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of such Series pursuant to the provisions of this Agreement or of the Securities of such Series); (iii) the date or dates on which the principal and premium, if any, of the Securities of such Series is payable; (iv) the rate or rates at which the Securities of such Series shall bear interest, the date or dates from which such interest shall accrue, the interest payment dates on which such interest shall be payable and the record dates for the determination of holders of the Securities of such Series to whom interest is payable; (v) the place or places where the principal of, and premium, if any, and interest on the Securities of such Series is payable; (vi) the price or prices at which, the period or periods within which and the terms and conditions upon which Securities of such Series may be redeemed, in whole or in part, at the option of Portugal or otherwise; (vii) the obligation, if any, of Portugal to redeem, purchase or repay Securities of such Series pursuant to any sinking fund or analogous provisions and the price or prices at which, the period or periods within which, and the terms and conditions upon which Securities of such Series shall be redeemed, purchased or repaid, in whole or in part, pursuant to such obligation; (viii) the denominations in which Securities of such Series shall be issuable; (ix) whether the Securities of such Series shall be in fully registered form without interest coupons; (x) the form in which the Securities will be issued, including whether any part or all of the Securities will be issued in the form of one or more temporary or permanent global securities and, if so, the identity of the depositary for the global securities and the terms of the depositary system, (xi) any covenants or agreements of Portugal and events which give rise to the right of a holder of a Security of such Series to accelerate the maturity of such Security; (xii) whether collective action clauses apply to the securities, and (xixiii) any other terms of the Securities of such Series. Securities will be issued in fully registered form without interest coupons unless otherwise provided in the text of the Securities, in which case Portugal and the Fiscal Agent may agree upon additional provisions relating to exchanges of temporary global bearer securities for definitive securities and additional paying agents located outside the United States.
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Securities Issuable in Series. (a) Portugal The Corporation may issue its notes, bonds, debentures or other evidences of indebtedness (the “Securities”) in separate series from time to time (each such series of Securities being hereinafter referred to as a “Series” or the “Securities of a Series”). All Securities will be direct, unconditional, unsecured and general obligations of the Corporation and each Series will rank pari passu with all other Series. The aggregate principal amount of the Securities of all Series which may be outstanding at any time is unlimited. The text of the Securities of a Series delivered to the Fiscal Agent (as hereinafter defineddefined in Section 2) for authentication on original issuance pursuant to Section 3 of this Agreement shall establish (i) the designation of the Securities of such Series (which shall distinguish the Securities of such Series from all other Series or identify such Securities as part of a previously issued Series); (ii) any limit upon the aggregate principal amount of the Securities of such Series which may be authenticated and delivered under this Agreement (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of such Series pursuant to the provisions of this Agreement or of the Securities of such Series); (iii) the date or dates on which the principal of and premium, if any, on the Securities of such Series are payable and the record date or dates for the determination of holders of the Securities of such Series to whom such principal and premium, if any, is payable; (iv) the rate or rates at which the Securities of such Series shall bear interest, if any, or the manner in which such rate or rates will be determined, the date or dates from which such interest shall accrue, the interest payment dates on which such interest shall be payable and the record dates for the determination of holders of the Securities of such Series to whom such interest is payable; (v) the place or places where where, and currencies in which, the principal of, of and premium, if any, any premium and interest on the Securities of such Series is payable; (vi) the price or prices at which, the period or periods within which and the terms and conditions upon which Securities of such Series may be redeemed, in whole or in part, at the option of Portugal the Corporation or otherwise; (vii) the obligation, if any, of Portugal the Corporation to redeem, purchase or repay Securities of such Series pursuant to any sinking fund or analogous provisions and the price or prices at which, which and the period or periods within which, which and the terms and conditions upon which Securities of such Series shall be redeemed, purchased or repaid, in whole or in part, pursuant to such obligation; (viii) the denominations in which Securities of such Series shall be issuable; (ix) whether the any Securities of such Series shall are to be issuable initially in fully registered temporary global form without interest couponsor issuable in permanent global form and, if so, whether beneficial owners of interests in any such permanent global Security of such Series may exchange such interests for Definitive Securities of such Series of like tenor of any other authorized form and denomination and the circumstances under which any such exchanges may occur; (x) any covenants or agreements of Portugal the Corporation and events events, if any, which give rise to the right of a holder of a Security of such Series to accelerate the maturity of such Security; (xi) procedures relating to the transferability of the Securities for fully paid domestic inscribed stock of the Corporation; and (xixii) any other terms of the Securities of such Series. All Securities will of a particular Series shall be issued in fully registered form without interest coupons unless otherwise substantially identical except as to denomination and as provided in the text of the Securities, in which case Portugal and the Fiscal Agent may agree upon additional provisions relating to exchanges of temporary global bearer securities for definitive securities and additional paying agents located outside the United Statesherein.
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Securities Issuable in Series. (a) Portugal The Republic may issue its notes, bonds, debentures or and/or other evidences of indebtedness debt securities (each a “Debt Security,” and collectively, the “Debt Securities”) in separate series from time to time (each such series of Debt Securities being hereinafter referred to as a “Series” or the “Securities of a Series”). The aggregate principal amount of the Debt Securities of all Series which may be outstanding at any time is unlimited. The text of the Securities of a Series delivered to the Fiscal Agent (as hereinafter defined) for authentication on original issuance pursuant to Section 3 of this Agreement shall establish (i) the designation of the Securities of such Series (which shall distinguish the Securities of such Series from all other Series); (ii) any limit upon the aggregate principal amount of the Securities of such Series which may be authenticated and delivered under this Agreement (except for Securities authenticated and delivered upon registration which may be outstanding at any time is not limited by this Agreement. For the avoidance of transfer ofdoubt, or in exchange foras used herein, or in lieu of, other the terms “Series” and “Securities of a Series” shall mean the Debt Securities evidencing a particular issue of indebtedness by the Republic. The Securities of a Series may have such letters, numbers or other marks of identification or endorsements not referred to herein placed thereon as may be required to comply with any law or with any rules made pursuant thereto or with the rules of any securities exchange or governmental agency or as may, consistently herewith, be determined by an authorized signatory of the Republic (the “Republic Authorized Signatory”), as conclusively evidenced by his execution of such Series. The Securities of a Series pursuant to may also have such additional provisions, omission, variations or substitutions as are not inconsistent with the provisions of this Agreement Agreement. All Securities of a particular Series shall be otherwise substantially identical except as to denomination as provided herein. The Securities of a Series will be issued in the form of one or more fully registered global debt securities (the “Global Debt Securities”) substantially in the form of Exhibit I hereto and in denominations specified in the Global Debt Securities, which will be deposited with, or on behalf of, The Depository Trust Company (the “Depository” or “DTC”) and registered in the name of Cede & Co., the Depository’s nominee. Beneficial interests in the Global Debt Securities will be represented through book-entry accounts of financial institutions acting on behalf of beneficial owners as direct and indirect participants in the Depository (“participants”). Investors will hold interests in the Global Debt Securities through the Depository or its participants, including Euroclear Bank S.A./N.V., Brussels Office, as operator of the Euroclear System (“Euroclear”) or Clearstream Banking, société anonyme (“Clearstream”), if they are participants of such systems, or indirectly through organizations which are participants in such systems. Euroclear and Clearstream will hold interests on behalf of their participants through customers’ securities accounts in Euroclear’s and Clearstream’s names on the books of their respective depositaries, which in turn will hold such interests in customers’ securities accounts in such depositaries’ names on the books of the Depository. Except as set forth in Condition 8 of the Securities of a Series, the Global Debt Securities may be transferred, in whole and not in part, only to another nominee of the Depository or to a successor of the Depository or its nominee. So long as the Depository or its nominee is the registered owner of the Global Debt Securities, the Depository or such Series); (iii) nominee, as the date case may be, will be considered the sole owner or dates on which the principal and premium, if any, holder of the Securities of such a Series is payable; (iv) represented by the rate Global Debt Securities for all purposes under this Agreement. Except as provided in Condition 8 of the Global Debt Securities, owners of beneficial interests in the Global Debt Securities will not be entitled to have Securities of a Series represented by the Global Debt Securities registered in their names, will not receive or rates at which be entitled to receive physical delivery of Securities of a Series in definitive form and will not be considered the owners or holders thereof under this Agreement. The Global Debt Securities delivered to the Fiscal Agent for authentication on original issuance pursuant to Section 5 hereof shall include the following, to the extent applicable to the Securities of such Series shall bear interest, the date or dates from which such interest shall accrue, the interest payment dates on which such interest shall be payable and the record dates for the determination of holders of the Securities of such Series to whom interest is payable; (v) the place or places where the principal of, and premium, if any, and interest on the Securities of such Series is payable; (vi) the price or prices at which, the period or periods within which and the terms and conditions upon which Securities of such Series may be redeemed, in whole or in part, at the option of Portugal or otherwise; (vii) the obligation, if any, of Portugal to redeem, purchase or repay Securities of such Series pursuant to any sinking fund or analogous provisions and the price or prices at which, the period or periods within which, and the terms and conditions upon which Securities of such Series shall be redeemed, purchased or repaid, in whole or in part, pursuant to such obligation; (viii) the denominations in which Securities of such Series shall be issuable; (ix) whether the Securities of such Series shall be in fully registered form without interest coupons; (x) any covenants or agreements of Portugal and events which give rise to the right of a holder of a Security of such Series to accelerate the maturity of such Security; and (xi) any other terms of the Securities of such Series. Securities will be issued in fully registered form without interest coupons unless otherwise provided in the text of the Securities, in which case Portugal and the Fiscal Agent may agree upon additional provisions relating to exchanges of temporary global bearer securities for definitive securities and additional paying agents located outside the United States.:
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