{"component": "clause", "props": {"groups": [{"samples": [{"hash": "hEXPtlxHafY", "uri": "/contracts/hEXPtlxHafY#stabilisation", "label": "Euro Medium Term Note Programme", "score": 33.3181533813, "published": true}, {"hash": "jQncPMvRoyB", "uri": "/contracts/jQncPMvRoyB#stabilisation", "label": "Euro Medium Term Note Programme", "score": 26.6783027649, "published": true}, {"hash": "jyUcdDtO7Wv", "uri": "/contracts/jyUcdDtO7Wv#stabilisation", "label": "Euro Medium Term Note Programme", "score": 21.4133434296, "published": true}], "size": 14, "snippet": "In connection with the issue of any Tranche of Notes, one or more relevant Dealers (the \u201cStabilisation Manager(s)\u201d) (or persons acting on behalf of any Stabilisation Manager(s)) may over- allot Notes or effect transactions with a view to supporting the market price of the Notes at a level higher than that which might otherwise prevail. However stabilisation may not necessarily occur. Any stabilisation action may begin on or after the date on which adequate public disclosure of the terms of the offer of the relevant Tranche of Notes is made and, if begun, may cease at any time, but it must end no later than the earlier of 30 days after the issue date of the relevant Tranche of Notes and 60 days after the date of the allotment of the relevant Tranche of Notes. Any stabilisation action or over- allotment must be conducted by the relevant Stabilisation Manager(s) (or person(s) acting on behalf of any Stabilisation Manager(s)) in accordance with all applicable laws and rules.", "snippet_links": [{"key": "in-connection-with", "type": "clause", "offset": [0, 18]}, {"key": "tranche-of-notes", "type": "definition", "offset": [36, 52]}, {"key": "on-behalf-of", "type": "definition", "offset": [135, 147]}, {"key": "with-a-view-to", "type": "definition", "offset": [223, 237]}, {"key": "the-notes", "type": "clause", "offset": [269, 278]}, {"key": "disclosure-of", "type": "clause", "offset": [468, 481]}, {"key": "terms-of-the-offer", "type": "clause", "offset": [486, 504]}, {"key": "relevant-tranche", "type": "definition", "offset": [512, 528]}, {"key": "at-any-time", "type": "clause", "offset": [571, 582]}, {"key": "date-of", "type": "clause", "offset": [653, 660]}, {"key": "in-accordance-with", "type": "clause", "offset": [936, 954]}, {"key": "applicable-laws-and-rules", "type": "clause", "offset": [959, 984]}], "hash": "989240f11076c630087a84f79beb5e9a", "id": 2}, {"samples": [{"hash": "dw6nwhNBft8", "uri": "/contracts/dw6nwhNBft8#stabilisation", "label": "Underwriting Agreement (Granite Mortgages 03-1 PLC)", "score": 16.0, "published": true}], "size": 7, "snippet": "The Underwriters, may, to the extent permitted by applicable laws and regulations, engage in over-allotment transactions, stabilising transactions, syndicate covering transactions and penalty bids and otherwise effect transactions in the open market or otherwise in connection with the distribution of the Notes with a view to stabilising or maintaining the respective market prices of the Notes at levels other than those which might otherwise prevail in the open market. Such stabilising, if commenced, may be discontinued at any time. In doing so the Underwriters shall act as principal and in no circumstances shall the Current Issuer be obliged to issue more than (i) $925,000,000 in aggregate principal amount of the Series 1 Class A1 Notes, (ii) $1,225,000,000 in aggregate principal amount of the Series 1 Class A2 Notes, (iii) $300,000,000 in aggregate principal amount of the Series 1 Class A3 Notes, (iv) $42,000,000 in aggregate principal amount of the Series 1 Class B Notes, or (v) $56,000,000 in aggregate principal amount of the Series 1 Class C Notes. _______________________________________________________________________________", "snippet_links": [{"key": "the-underwriters", "type": "definition", "offset": [0, 16]}, {"key": "to-the-extent", "type": "clause", "offset": [23, 36]}, {"key": "applicable-laws-and-regulations", "type": "definition", "offset": [50, 81]}, {"key": "open-market", "type": "definition", "offset": [238, 249]}, {"key": "in-connection-with", "type": "clause", "offset": [263, 281]}, {"key": "distribution-of", "type": "clause", "offset": [286, 301]}, {"key": "the-notes", "type": "clause", "offset": [302, 311]}, {"key": "with-a-view-to", "type": "definition", "offset": [312, 326]}, {"key": "market-prices", "type": "definition", "offset": [369, 382]}, {"key": "at-any-time", "type": "clause", "offset": [525, 536]}, {"key": "as-principal", "type": "clause", "offset": [577, 589]}, {"key": "no-circumstances", "type": "clause", "offset": [597, 613]}, {"key": "current-issuer", "type": "definition", "offset": [624, 638]}, {"key": "to-issue", "type": "clause", "offset": [650, 658]}, {"key": "aggregate-principal-amount", "type": "definition", "offset": [689, 715]}, {"key": "series-1-class-a1-notes", "type": "definition", "offset": [723, 746]}, {"key": "series-1-class-a2-notes", "type": "definition", "offset": [805, 828]}, {"key": "series-1-class-a3-notes", "type": "definition", "offset": [886, 909]}, {"key": "series-1-class-b-notes", "type": "definition", "offset": [965, 987]}, {"key": "series-1-class-c-notes", "type": "definition", "offset": [1045, 1067]}], "hash": "0dd9a5569f565e37bb66ad43e6ab7fb0", "id": 8}, {"samples": [{"hash": "3nW3TRlnBBN", "uri": "/contracts/3nW3TRlnBBN#stabilisation", "label": "Terms of Business for Retail Clients", "score": 32.8866653442, "published": true}, {"hash": "jK7gUXbp7Bb", "uri": "/contracts/jK7gUXbp7Bb#stabilisation", "label": "Terms of Business for Retail Clients", "score": 29.6001033783, "published": true}, {"hash": "9Ihn1WTPGrt", "uri": "/contracts/9Ihn1WTPGrt#stabilisation", "label": "Terms of Business", "score": 25.7364826202, "published": true}], "size": 9, "snippet": "We or our Brokers instructed on your behalf may deal for you in Financial Instruments that may have been the subject of stabilisation. Stabilisation is a price supporting process that may take place in the context of new issues. The effect of stabilisation can be to make the market price of the new issue temporarily higher than it would be otherwise. The market price of investments of the same class already in issue, and of other investments whose price affects the price of the new issue may also be affected.", "snippet_links": [{"key": "financial-instruments", "type": "clause", "offset": [64, 85]}, {"key": "subject-of", "type": "clause", "offset": [109, 119]}, {"key": "the-context", "type": "clause", "offset": [202, 213]}, {"key": "new-issues", "type": "definition", "offset": [217, 227]}, {"key": "effect-of", "type": "clause", "offset": [233, 242]}, {"key": "price-of-the", "type": "clause", "offset": [283, 295]}, {"key": "investments-of-the", "type": "clause", "offset": [373, 391]}, {"key": "in-issue", "type": "definition", "offset": [411, 419]}, {"key": "other-investments", "type": "definition", "offset": [428, 445]}, {"key": "the-price", "type": "clause", "offset": [466, 475]}], "hash": "ab3b026e90cb42665f03af51c9e3f2c5", "id": 3}, {"samples": [{"hash": "bfkOJSQx6Zg", "uri": "/contracts/bfkOJSQx6Zg#stabilisation", "label": "Professional Client Agreement", "score": 35.6969604492, "published": true}, {"hash": "dQmPfKx5Bju", "uri": "/contracts/dQmPfKx5Bju#stabilisation", "label": "Professional Client Agreement", "score": 35.6608924866, "published": true}, {"hash": "cQ4KDwQMw9P", "uri": "/contracts/cQ4KDwQMw9P#stabilisation", "label": "Professional Client Agreement", "score": 35.4095039368, "published": true}], "size": 7, "snippet": "Deutsche Numis may deal on a client's behalf in investments that may be subject to on-going stabilisation or may have been the subject of recent stabilisation. Such stabilisation may be or may have been carried out by Deutsche Numis or by another party. Stabilisation enables the market price of a security to be maintained artificially during the period when a new issue of securities is sold to the public. Stabilisation may affect not only the price of the new issue but also the price of other securities related to it. The regulatory system allows stabilisation in order to help counter the fact that, when a new issue comes onto the market for the first time, the price can sometimes drop for a time before buyers are found. Stabilisation is carried out by a \"stabilisation manager\" (normally the firm chiefly responsible for bringing a new issue to market). As long as the stabilisation manager follows a strict set of rules, he is entitled to buy back securities that were previously sold to investors or allotted to institutions which have decided not to keep them. The effect of this may be to keep the price at a higher level than it would otherwise be during the period of stabilisation. The stabilisation rules: \u2022 limit the period when a stabilising manager may stabilise a new issue; \u2022 fix the price at which he may stabilise (in the case of shares and warrants but not loan stock or bonds); and \u2022 require him to disclose that he may be stabilising but not that he is actually doing so. The fact that a new issue or a related security is being stabilised should not be taken as any indication of the level of interest from investors, nor of the price at which they are prepared to buy the securities.", "snippet_links": [{"key": "deutsche-numis", "type": "definition", "offset": [0, 14]}, {"key": "subject-to", "type": "clause", "offset": [72, 82]}, {"key": "subject-of", "type": "clause", "offset": [127, 137]}, {"key": "another-party", "type": "definition", "offset": [239, 252]}, {"key": "the-market-price", "type": "clause", "offset": [276, 292]}, {"key": "during-the-period", "type": "clause", "offset": [337, 354]}, {"key": "issue-of-securities", "type": "clause", "offset": [366, 385]}, {"key": "to-the-public", "type": "definition", "offset": [394, 407]}, {"key": "price-of-the", "type": "clause", "offset": [447, 459]}, {"key": "other-securities", "type": "definition", "offset": [492, 508]}, {"key": "related-to", "type": "clause", "offset": [509, 519]}, {"key": "regulatory-system", "type": "definition", "offset": [528, 545]}, {"key": "in-order-to", "type": "clause", "offset": [567, 578]}, {"key": "the-fact", "type": "clause", "offset": [592, 600]}, {"key": "first-time", "type": "definition", "offset": [654, 664]}, {"key": "stabilisation-manager", "type": "definition", "offset": [766, 787]}, {"key": "the-firm", "type": "clause", "offset": [799, 807]}, {"key": "responsible-for", "type": "clause", "offset": [816, 831]}, {"key": "issue-to", "type": "definition", "offset": [847, 855]}, {"key": "buy-back", "type": "clause", "offset": [951, 959]}, {"key": "effect-of-this", "type": "clause", "offset": [1079, 1093]}, {"key": "higher-level", "type": "clause", "offset": [1124, 1136]}, {"key": "period-of", "type": "clause", "offset": [1175, 1184]}, {"key": "manager-may", "type": "definition", "offset": [1263, 1274]}, {"key": "in-the-case", "type": "clause", "offset": [1341, 1352]}, {"key": "shares-and-warrants", "type": "clause", "offset": [1356, 1375]}, {"key": "loan-stock", "type": "definition", "offset": [1384, 1394]}, {"key": "to-disclose", "type": "definition", "offset": [1424, 1435]}, {"key": "related-security", "type": "clause", "offset": [1532, 1548]}, {"key": "the-securities", "type": "definition", "offset": [1699, 1713]}], "hash": "684d5f5595345a86518c05db036d633e", "id": 4}, {"samples": [{"hash": "7ThWfBXX82b", "uri": "/contracts/7ThWfBXX82b#stabilisation", "label": "Programme Agreement", "score": 32.4621162415, "published": true}, {"hash": "gown070oo8X", "uri": "/contracts/gown070oo8X#stabilisation", "label": "Programme Agreement", "score": 31.7232837677, "published": true}, {"hash": "evN4CZrPsZK", "uri": "/contracts/evN4CZrPsZK#stabilisation", "label": "Programme Agreement", "score": 31.684961319, "published": true}], "size": 27, "snippet": "In connection with the distribution of any Notes, any Dealer designated as a Stabilisation Manager in the applicable Final Terms may over-allot or effect transactions which support the market price of the Notes at a level higher than that which might otherwise prevail, but in doing so such Dealer shall act as principal and not as agent of the Issuer. Any stabilisation will be conducted in accordance with all applicable regulations. Any loss resulting from over-allotment and stabilisation shall be borne, and any net profit arising therefrom shall be retained, as against the Issuer, by any Stabilisation Manager for its own account.", "snippet_links": [{"key": "in-connection-with", "type": "clause", "offset": [0, 18]}, {"key": "distribution-of", "type": "clause", "offset": [23, 38]}, {"key": "stabilisation-manager", "type": "definition", "offset": [77, 98]}, {"key": "the-applicable", "type": "clause", "offset": [102, 116]}, {"key": "final-terms", "type": "clause", "offset": [117, 128]}, {"key": "the-notes", "type": "clause", "offset": [201, 210]}, {"key": "as-principal", "type": "clause", "offset": [308, 320]}, {"key": "agent-of-the-issuer", "type": "clause", "offset": [332, 351]}, {"key": "in-accordance-with", "type": "clause", "offset": [389, 407]}, {"key": "applicable-regulations", "type": "clause", "offset": [412, 434]}, {"key": "any-loss", "type": "definition", "offset": [436, 444]}, {"key": "resulting-from", "type": "definition", "offset": [445, 459]}, {"key": "net-profit", "type": "definition", "offset": [517, 527]}, {"key": "for-its-own-account", "type": "clause", "offset": [617, 636]}], "hash": "526a84dcc1d9da68e1c3e78355f501cb", "id": 1}, {"samples": [{"hash": "5SExcGqwy0W", "uri": "/contracts/5SExcGqwy0W#stabilisation", "label": "Retail Client Terms of Business", "score": 35.250995636, "published": true}, {"hash": "eMImT9qXwd5", "uri": "/contracts/eMImT9qXwd5#stabilisation", "label": "Retail Client Terms of Business", "score": 34.4486885071, "published": true}, {"hash": "7nQK7RKt8pb", "uri": "/contracts/7nQK7RKt8pb#stabilisation", "label": "Retail Client Terms of Business", "score": 33.0635795593, "published": true}], "size": 7, "snippet": "You may enter transactions in newly issued securities in respect of which we are the stabilisation manager and the price of which may have been influenced by measures taken to stabilise it. Stabilisation enables the market price of a security to be maintained artificially during the period when a new issue of securities is sold to the public. Stabilisation may affect not only the price of the new issue but also the price of other securities relating to it. The FCA allows stabilisation in order to help counter the fact that when a new issue comes onto the market for the first time, the price can sometimes drop for a time before buyers are found. As long as the stabilisation manager follows FCA Rules (and rules set out in the Market Abuse Regulation), it is entitled to buy back the securities that were previously sold to investors or allotted to institutions which have decided not to keep them. The effect of this may be to keep the price at a higher level than it would otherwise be during the period of stabilisation. The stabilisation rules limit the period when a stabilisation manager may stabilise a new issue, fix the price at which the issue may be stabilised (in the case of shares and warrants, but not bonds) and require disclosure of the fact that a stabilisation manager may be stabilising but not that it is actually doing so. The fact that a new issue, or a related security, is being stabilised should not be taken as any indication of the level of interest from investors, nor of the price at which they are prepared to buy the securities. Emerging Markets You should be aware that there may be potential risks posed by volatile political, legal and commercial conditions in emerging markets which may affect the value of or result in the loss of investments. The quality and reliability of official data published by governments and their agencies in emerging markets might not be equivalent to that available in developed markets. In addition, the absence of developed securities markets as well as potentially underdeveloped banking and telecommunications systems in such countries may give rise to greater custody, settlement, clearing and registration risks. Foreign investment in issuers in emerging markets may be restricted \u2013 sometimes such restrictions may not be published and investors may not be readily made aware of them. In such circumstances, there may be restrictions on repatriation of capital or an investment may have to be scaled down to comply with local foreign ownership restrictions. Bonds \u2013 Government and Corporate Bonds and Notes, also known as fixed-interest investments, are types of loans where a Government or a company issues a bond to raise money. \u201cGilt-edged\u201d securities - known as \u201cgilts\u201d - are borrowings made by the UK Government. Bonds are issued by most countries, and by companies (corporate bonds). In return for its loan, the issuer of the bond pays an interest amount to the bond purchaser. This interest amount, which is usually a fixed rate, is typically paid semi-annually or annually to the purchaser, for as long as the purchaser continues to own the bond. Many different types of bonds are available, both simple and complex. Most bonds have a pre-determined final payment date (the \u201cmaturity\u201d date) - at which time the company returns a set amount of money to investors that own the bond at that time. Consequently, when purchasing a bond, an investor can usually predict when the investor\u2019s money is likely to be repaid. This is important in making longer term investment decisions. Bond prices tend to have an inverse relationship to interest rates. A bond paying a 7% interest rate is likely to be valued more highly when general interest rates are low than when interest rates are high. The length of time to maturity (repayment) of the bond also affects the price of the bond and how much it may fluctuate (risk). The longer the maturity of the bond the more risky its price tends to be. An increase or decrease in interest rates is likely to have a minor impact on the price of a bond maturing in less than a year. The price of a bond maturing in 30 years is likely to be significantly impacted by an interest rate change. Short term bonds are therefore considered to represent lower risk than longer term bonds. Bonds are generally perceived to be lower risk than shares, although the risk depends on a variety of factors - and it is not the case that all bonds are low risk. Risk factors include: The ability of the lender to repay. If the lender is unable to repay the principal, the investor may sustain a loss of the entire investment. If the lender is unable to pay the interest, the purchaser will no longer receive the annual or semi- annual interest coupon. Generally, Government issued bonds are lower risk than corporate bonds. Bonds are rated according to the ability of the issuer to pay. These ratings are assigned by third party agencies. The price of a bond may fluctuate during its life. If the purchaser sells the bond before the maturity date, the price at which it is sold may be lower than the purchase price, so the purchaser may lose money. The longer the time to maturity, the greater the risk that the price may fluctuate in this way. When a bond is redeemed a purchaser receives cash. The purchaser may wish to find an alternative investment for the cash. If interest rates have fallen since the purchaser originally purchased the bond, the re-invested cash may earn a much lower rate of return. This is known as re-investment risk. Not all bonds are liquid - i.e. it is not always possible to find a buyer for a bond. Bonds are not traded on a market but \u201cover the counter\u201d between one dealer and another. It is not always easy to determine the price of a bond or how easy it is to buy or sell. Generally, investment grade bonds are more liquid and therefore easier to buy or sell. Equities (Shares) Equities represent a part ownership in a company. As such, the owner of a share participates in the fortune of the company - for good or ill. If the company does well, the shares are likely to rise in price, but if the company does badly, the share price is likely to fall. Holders of ordinary shares are the last to be paid in the event of a company becoming insolvent. However, ordinary shareholders also have the potential for good returns provided the company does well and is perceived to be continuing to do well. Some shares pay a dividend, either semi-annually or quarterly. A dividend is an amount of money, determined by the company\u2019s Board of Directors, which is a distribution of the company\u2019s profits. Established, profitable companies tend to pay dividends and have a good record of providing a steady stream of dividend payments. Periods of economic difficulty may, however, interrupt such dividend payment for even the most established equities. Younger, less established companies that are building a business tend to retain their profits for re-investment. These are called \u201cgrowth\u201d companies as their business strategy is to grow their business rapidly. Shares are available in companies of different sizes, industrial sectors, geographical locations, and on different stock markets. Liquidity is an important risk factor when investing in individual equities and is generally driven by the market capitalisation (total value of issued shares) of the company and current market conditions. Liquidity levels can change rapidly and lack of liquidity often restricts trading in equities with smaller market capitalisations (known as mid cap and small cap). Information on overseas investments is not as readily available to the UK public as for UK companies and the financial pages of the national press give little coverage of the subject. Different time zones also mean that you will not always be able to get a real time price for overseas stocks during the UK trading day. Whether investing directly in overseas markets or through collective investment schemes, currency fluctuations need to be taken into account. A gain or loss made on the performance of a stock can easily be offset by a movement in the currency exchange rate. Alternatively a gain or loss on a stock could be compounded to make an even larger one. Liquidity considerations are similar to UK shares. Dealing/administrative costs tend to be higher than UK shares. Shares are usually perceived to represent greater risk than bonds. The price of individual shares can fluctuate considerably and can appreciate or decline rapidly. Shares can also remain in decline over long time periods. Share prices rise and fall according to the health of the company and general economic and market conditions. Individual share price rises and falls can be significant. Stock market investments tend to be more volatile than investments in most bonds. Shares purchased on the Alternative Investment Market (AIM) (especially those known as \u2018\u2587\u2587\u2587\u2587\u2587 shares\u2019) carry a higher degree of risk of losing money than other UK shares. This is because the requirements on companies that are listed on AIM are less stringent than those for companies with a full market listing. There is also usually a wider spread between the buying price and the selling price of these shares and if they have to be sold immediately, you may get back less than you paid for them due to a lack of liquidity. The price of these shares may change quickly and they may go down as well as up. It may also be difficult to obtain reliable information about their value or the extent of the risks to which they are exposed. Collective Investment Schemes (commonly known as \u2018funds\u2019) A fund is a term that covers different types of structure, normally Open Ended Investment Companies (\u2018OEICs\u2019 - by far the most common) or Unit Trusts. Funds are arrangements that enable a number of investors to 'pool' their money, in order to gain access to professional fund managers. Investments held by these funds may typically include gilts, bonds and quoted equities, but depending on the type of scheme, may hold higher risk instruments such as property, derivatives, unquoted securities and other complex products. The value of a fund, and the income derived from it, can decrease as well as increase and you may not necessarily get back the amount you originally invested. In addition, funds bear investment management risks, insolvency risks and possibly liquidity risks. You should ensure that you understand the nature of any fund before you invest in it. Investment trusts Investment trusts are similar to funds in that they provide a means of pooling your money but they are publicly listed companies whose shares are traded on the London Stock Exchange. The price of their shares will fluctuate according to investor demand and changes in the value of their underlying assets. They will be subject to a combination of the risks associated with shares, bonds and funds in which they are invested. The value of investment trusts, or the income derived from them, can decrease as well as increase and you may not necessarily get back the amount you invested Exchange Traded Funds (ETFs) ETFs are investment funds, traded like shares which hold assets such as shares, commodities or bonds. They normally closely track the performance of a financial index, and as such, their value can go down as well as up and you may get back less than you originally invested. Some ETFs rely on complex investment techniques, or hold riskier underlying assets, to achieve their objectives and therefore you should always ensure you read the documentation provided to ensure you fully understand before you invest the risks you are taking on.", "snippet_links": [{"key": "newly-issued-securities", "type": "definition", "offset": [30, 53]}, {"key": "in-respect-of", "type": "definition", "offset": [54, 67]}, {"key": "stabilisation-manager", "type": "definition", "offset": [85, 106]}, {"key": "the-price", "type": "clause", "offset": [111, 120]}, {"key": "the-market-price", "type": "clause", "offset": [212, 228]}, {"key": "during-the-period", "type": "clause", "offset": [273, 290]}, {"key": "issue-of-securities", "type": "clause", "offset": [302, 321]}, {"key": "to-the-public", "type": "definition", "offset": [330, 343]}, {"key": "price-of-the", "type": "clause", "offset": [383, 395]}, {"key": "other-securities", "type": "definition", "offset": [428, 444]}, {"key": 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7343]}, {"key": "total-value", "type": "definition", "offset": [7345, 7356]}, {"key": "issued-shares", "type": "clause", "offset": [7360, 7373]}, {"key": "market-conditions", "type": "definition", "offset": [7402, 7419]}, {"key": "lack-of-liquidity", "type": "clause", "offset": [7461, 7478]}, {"key": "information-on", "type": "clause", "offset": [7585, 7599]}, {"key": "overseas-investments", "type": "clause", "offset": [7600, 7620]}, {"key": "available-to", "type": "definition", "offset": [7639, 7651]}, {"key": "uk-companies", "type": "definition", "offset": [7673, 7685]}, {"key": "the-financial", "type": "clause", "offset": [7690, 7703]}, {"key": "the-national", "type": "clause", "offset": [7713, 7725]}, {"key": "the-subject", "type": "clause", "offset": [7756, 7767]}, {"key": "different-time-zones", "type": "clause", "offset": [7769, 7789]}, {"key": "time-price", "type": "clause", "offset": [7847, 7857]}, {"key": "trading-day", "type": "definition", "offset": [7892, 7903]}, {"key": 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"fund-managers", "type": "definition", "offset": [9902, 9915]}, {"key": "investments-held-by", "type": "clause", "offset": [9917, 9936]}, {"key": "depending-on-the", "type": "clause", "offset": [10009, 10025]}, {"key": "type-of", "type": "definition", "offset": [10026, 10033]}, {"key": "complex-products", "type": "definition", "offset": [10136, 10152]}, {"key": "investment-management", "type": "clause", "offset": [10337, 10358]}, {"key": "liquidity-risks", "type": "clause", "offset": [10396, 10411]}, {"key": "nature-of", "type": "clause", "offset": [10455, 10464]}, {"key": "invest-in", "type": "clause", "offset": [10485, 10494]}, {"key": "investment-trusts", "type": "definition", "offset": [10499, 10516]}, {"key": "funds-in", "type": "definition", "offset": [10550, 10558]}, {"key": "provide-a-means", "type": "clause", "offset": [10569, 10584]}, {"key": "your-money", "type": "definition", "offset": [10596, 10606]}, {"key": "listed-companies", "type": "definition", "offset": [10629, 10645]}, {"key": "london-stock-exchange", "type": "clause", "offset": [10677, 10698]}, {"key": "investor-demand", "type": "definition", "offset": [10754, 10769]}, {"key": "changes-in", "type": "definition", "offset": [10774, 10784]}, {"key": "underlying-assets", "type": "clause", "offset": [10804, 10821]}, {"key": "subject-to", "type": "clause", "offset": [10836, 10846]}, {"key": "associated-with", "type": "definition", "offset": [10874, 10889]}, {"key": "value-of-investment", "type": "clause", "offset": [10946, 10965]}, {"key": "exchange-traded-funds", "type": "definition", "offset": [11101, 11122]}, {"key": "investment-funds", "type": "definition", "offset": [11139, 11155]}, {"key": "financial-index", "type": "definition", "offset": [11281, 11296]}, {"key": "complex-investment", "type": "definition", "offset": [11423, 11441]}, {"key": "documentation-provided", "type": "clause", "offset": [11569, 11591]}, {"key": "to-ensure", "type": "clause", "offset": [11592, 11601]}], "hash": "c45b84794b0c4bc489ddd24d565f2882", "id": 5}, {"samples": [{"hash": "dFFXsBEo1lL", "uri": "/contracts/dFFXsBEo1lL#stabilisation", "label": "Programme Agreement (International Lease Finance Corp)", "score": 19.6707725525, "published": true}, {"hash": "7SaZvuu7Omu", "uri": "/contracts/7SaZvuu7Omu#stabilisation", "label": "Programme Agreement (International Lease Finance Corp)", "score": 19.0, "published": true}], "size": 7, "snippet": "In connection with the issue of any Tranche of Notes, the Dealer or Dealers (if any) designated as Stabilising Manager(s) (or persons acting on behalf of any Stabilising Manager(s)) in the applicable Final Terms may over-allot Notes or effect transactions with a view to supporting the market price of the Notes at a level higher than that which might otherwise prevail. However, there is no assurance that the Stabilising Manager(s) (or persons acting on behalf of a Stabilising Manager) will undertake stabilisation action. Any stabilisation action may begin on or after the date on which adequate public disclosure of the terms of the offer of the relevant Tranche of Notes is made and, if begun, may be ended at any time, but it must end no later than the earlier of 30 days after the Issue Date of the relevant Tranche of Notes and 60 days after the date of the allotment of the relevant Tranche of Notes. Any stabilisation action or over-allotment shall be conducted in accordance with all applicable laws and rules.", "snippet_links": [{"key": "in-connection-with", "type": "clause", "offset": [0, 18]}, {"key": "tranche-of-notes", "type": "definition", "offset": [36, 52]}, {"key": "the-dealer", "type": "clause", "offset": [54, 64]}, {"key": "stabilising-manager", "type": "definition", "offset": [99, 118]}, {"key": "on-behalf-of", "type": "definition", "offset": [141, 153]}, {"key": "the-applicable", "type": "clause", "offset": [185, 199]}, {"key": "final-terms", "type": "clause", "offset": [200, 211]}, {"key": "with-a-view-to", "type": "definition", "offset": [256, 270]}, {"key": "the-notes", "type": "clause", "offset": [302, 311]}, {"key": "no-assurance", "type": "clause", "offset": [389, 401]}, {"key": "disclosure-of", "type": "clause", "offset": [607, 620]}, {"key": "terms-of-the-offer", "type": "clause", "offset": [625, 643]}, {"key": "relevant-tranche", "type": "definition", "offset": [651, 667]}, {"key": "at-any-time", "type": "clause", "offset": [713, 724]}, {"key": "date-of", "type": "clause", "offset": [795, 802]}, {"key": "in-accordance-with", "type": "clause", "offset": [973, 991]}, {"key": "applicable-laws-and-rules", "type": "clause", "offset": [996, 1021]}], "hash": "d7ff92f6fecdf9ff543a9ef2d8d1c4de", "id": 6}, {"samples": [{"hash": "afnM7h8K3Tk", "uri": "/contracts/afnM7h8K3Tk#stabilisation", "label": "Subscription Agreement (Semiconductor Manufacturing International Corp)", "score": 26.319644928, "published": true}, {"hash": "979Fdvmgvgt", "uri": "/contracts/979Fdvmgvgt#stabilisation", "label": "Subscription Agreement (Semiconductor Manufacturing International Corp)", "score": 23.2819976807, "published": true}], "size": 7, "snippet": "the Issuer has not issued and will not issue, without the prior consent of the Managers, any press or other public announcement referring to the proposed issue of Bonds unless the announcement adequately discloses the fact that the stabilising action may take place in relation to the Bonds to be issued and neither the Issuer nor any of its affiliates (as defined in Rule 501(b) of Regulation D), nor any person acting on behalf of any of them has taken or will take, directly or indirectly, any action designed to cause or to result in, or that has constituted or which might reasonably be expected to cause or result in, the stabilisation in violation of applicable laws or manipulation of the price of any security to facilitate the sale or resale of the Bonds;", "snippet_links": [{"key": "the-issuer", "type": "clause", "offset": [0, 10]}, {"key": "the-managers", "type": "clause", "offset": [75, 87]}, {"key": "public-announcement", "type": "clause", "offset": [108, 127]}, {"key": "referring-to", "type": "definition", "offset": [128, 140]}, {"key": "the-proposed", "type": "clause", "offset": [141, 153]}, {"key": "issue-of-bonds", "type": "clause", "offset": [154, 168]}, {"key": "the-announcement", "type": "clause", "offset": [176, 192]}, {"key": "the-fact", "type": "clause", "offset": [214, 222]}, {"key": "in-relation-to", "type": "clause", "offset": [266, 280]}, {"key": "the-bonds", "type": "clause", "offset": [281, 290]}, {"key": "regulation-d", "type": "definition", "offset": [383, 395]}, {"key": "any-person", "type": "clause", "offset": [402, 412]}, {"key": "on-behalf-of", "type": "definition", "offset": [420, 432]}, {"key": "directly-or-indirectly", "type": "clause", "offset": [469, 491]}, {"key": "any-action", "type": "definition", "offset": [493, 503]}, {"key": "violation-of-applicable-laws", "type": "clause", "offset": [645, 673]}, {"key": "price-of-any-security", "type": "clause", "offset": [697, 718]}, {"key": "the-sale", "type": "clause", "offset": [733, 741]}], "hash": "61f0dec8ffc6050a7b940d17588329d3", "id": 7}, {"samples": [{"hash": "eWpQuboiXPc", "uri": "/contracts/eWpQuboiXPc#stabilisation", "label": "Programme Agreement", "score": 31.8793144226, "published": true}, {"hash": "cMzc09wAuNB", "uri": "/contracts/cMzc09wAuNB#stabilisation", "label": "Programme Agreement", "score": 29.2897644043, "published": true}, {"hash": "bSUAj2UDwN9", "uri": "/contracts/bSUAj2UDwN9#stabilisation", "label": "Programme Agreement", "score": 28.2687263489, "published": true}], "size": 6, "snippet": "20.1 In connection with the distribution of any Notes, the Dealer (if any) designated as the stabilising manager (the Stabilising Manager) in the applicable Final Terms may over-allot Notes or effect transactions which stabilise or maintain the market price of the Notes at a level which might not otherwise prevail. Any Stabilising Manager will not in doing so be deemed to act as an agent of the Issuer and is authorised by the Issuer to make all appropriate disclosure in relation to any such action.\n20.2 Any stabilising action may begin on or after the date on which adequate public disclosure of the final terms of the offer of the relevant Tranche of Notes is made and, if begun, may be ended at any time, but it must end no later than the earlier of 30 days after the issue date of the relevant Tranche of Notes and 60 days after the date of the allotment of the relevant Tranche of Notes. Any loss resulting from over-allotment and stabilisation shall be borne, and any net profit arising therefrom shall be retained, by the Stabilising Manager for its own account. Any stabilisation action or over-allotment will be conducted in accordance with all applicable laws and regulations.", "snippet_links": [{"key": "in-connection-with", "type": "clause", "offset": [5, 23]}, {"key": "distribution-of", "type": "clause", "offset": [28, 43]}, {"key": "the-dealer", "type": "clause", "offset": [55, 65]}, {"key": "stabilising-manager", "type": "definition", "offset": [93, 112]}, {"key": "the-applicable", "type": "clause", "offset": [142, 156]}, {"key": "final-terms", "type": "clause", "offset": [157, 168]}, {"key": "the-notes", "type": "clause", "offset": [261, 270]}, {"key": "to-act", "type": "definition", "offset": [372, 378]}, {"key": "agent-of-the-issuer", "type": "clause", "offset": [385, 404]}, {"key": "by-the-issuer", "type": "clause", "offset": [423, 436]}, {"key": "in-relation-to", "type": "clause", "offset": [472, 486]}, {"key": "disclosure-of", "type": "clause", "offset": [588, 601]}, {"key": "the-final", "type": "clause", "offset": [602, 611]}, {"key": "terms-of-the-offer", "type": "clause", "offset": [612, 630]}, {"key": "tranche-of-notes", "type": "definition", "offset": [647, 663]}, {"key": "at-any-time", "type": "clause", "offset": [700, 711]}, {"key": "date-of", "type": "clause", "offset": [782, 789]}, {"key": "any-loss", "type": "definition", "offset": [898, 906]}, {"key": "resulting-from", "type": "definition", "offset": [907, 921]}, {"key": "net-profit", "type": "definition", "offset": [979, 989]}, {"key": "for-its-own-account", "type": "clause", "offset": [1054, 1073]}, {"key": "in-accordance-with", "type": "clause", "offset": [1136, 1154]}, {"key": "all-applicable-laws-and-regulations", "type": "definition", "offset": [1155, 1190]}], "hash": "d69705793ffbd475bf393b700af43dfd", "id": 9}, {"samples": [{"hash": "1KIkgg4ANEF", "uri": "/contracts/1KIkgg4ANEF#stabilisation", "label": "Multi Jurisdiction Repackaging Note Programme", "score": 26.3789272308, "published": true}, {"hash": "g6KEun5STMu", "uri": "/contracts/g6KEun5STMu#stabilisation", "label": "Multi Jurisdiction Repackaging Note Programme", "score": 26.3761901855, "published": true}, {"hash": "3dENMjrbx1", "uri": "/contracts/3dENMjrbx1#stabilisation", "label": "Multi Jurisdiction Repackaging Note Programme", "score": 23.8304386139, "published": true}], "size": 6, "snippet": "In connection with the issue of any Tranche, Stabilising Manager(s) (or persons acting on behalf of any Stabilising Manager) may over-allot Notes (provided that, in the case of any Tranche to be admitted to trading on the regulated market of the Irish Stock Exchange, the aggregate principal amount of Notes allotted does not exceed 105% of the aggregate principal amount of the relevant Tranche) or effect transactions with a view to supporting the market price of the Notes at a level higher than that which might otherwise prevail. However, there is no assurance that the Stabilising Manager(s) (or persons acting on behalf of a Stabilising Manager) will undertake stabilisation action. Any stabilisation action may begin on or after the date on which adequate public disclosure of the terms of the offer of the relevant Tranche of Notes is made and, if begun, may be ended at any time, but it must end no later than the earlier of 30 days after the issue date of the relevant Tranche and 60 days after the date of the allotment of the relevant Tranche. Any stabilisation action or over-allotment must be conducted by the relevant Stabilising Manager(s) (or persons acting on behalf of any Stabilising Manager) in accordance with all applicable laws and rules.", "snippet_links": [{"key": "in-connection-with", "type": "clause", "offset": [0, 18]}, {"key": "stabilising-manager", "type": "definition", "offset": [45, 64]}, {"key": "on-behalf-of", "type": "definition", "offset": [87, 99]}, {"key": "provided-that", "type": "definition", "offset": [147, 160]}, {"key": "in-the-case", "type": "clause", "offset": [162, 173]}, {"key": "regulated-market", "type": "definition", "offset": [222, 238]}, {"key": "the-irish-stock-exchange", "type": "definition", "offset": [242, 266]}, {"key": "aggregate-principal-amount-of-notes", "type": "clause", "offset": [272, 307]}, {"key": "relevant-tranche", "type": "definition", "offset": [379, 395]}, {"key": "with-a-view-to", "type": "definition", "offset": [420, 434]}, {"key": "the-notes", "type": "clause", "offset": [466, 475]}, {"key": "no-assurance", "type": "clause", "offset": [553, 565]}, {"key": "disclosure-of", "type": "clause", "offset": [771, 784]}, {"key": "terms-of-the-offer", "type": "clause", "offset": [789, 807]}, {"key": "tranche-of-notes", "type": "definition", "offset": [824, 840]}, {"key": "at-any-time", "type": "clause", "offset": [877, 888]}, {"key": "date-of", "type": "clause", "offset": [959, 966]}, {"key": "in-accordance-with", "type": "clause", "offset": [1214, 1232]}, {"key": "applicable-laws-and-rules", "type": "clause", "offset": [1237, 1262]}], "hash": "33784ec8931bf4f9d83be98c77691298", "id": 10}], "next_curs": "ClYSUGoVc35sYXdpbnNpZGVyY29udHJhY3RzcjILEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhZzdGFiaWxpc2F0aW9uIzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"parents": [["stabilisation", "Stabilisation"], ["miscellaneous", "Miscellaneous"], ["representations-warranties-and-indemnity", "Representations, Warranties and Indemnity"], ["conditions-precedent", "Conditions precedent"], ["severability", "Severability"]], "size": 292, "children": [["stabilisation", "Stabilisation"], ["stabilisation-profits-and-losses", "Stabilisation Profits and Losses"], ["", ""], ["governing-law", "Governing Law"], ["general", "General"]], "title": "Stabilisation", "id": "stabilisation", "related": [["utilisation", "Utilisation", "Utilisation"], ["costs-of-utilisation", "Costs of Utilisation", "Costs of Utilisation"], ["completion-of-a-utilisation-request", "Completion of a Utilisation Request", "Completion of a Utilisation Request"], ["stabilization", "Stabilization", "Stabilization"], ["conditions-of-utilisation", "Conditions of Utilisation", "Conditions of Utilisation"]], "related_snippets": [], "updated": "2026-04-19T04:24:51+00:00", "also_ask": ["What are the most effective negotiation levers when drafting a stabilisation clause?", "Which core elements must be included to ensure the clause is enforceable and comprehensive?", "What are the primary legal risks or loopholes that could undermine the clause\u2019s effectiveness?", "How do stabilisation clauses differ across key jurisdictions or industry sectors?", "What standards do courts apply to determine the validity and enforceability of stabilisation clauses?"], "drafting_tip": "Specify the events triggering stabilisation to prevent disputes; define the duration and mechanisms to ensure clarity and enforceability.", "explanation": "The Stabilisation clause is designed to protect a party\u2014often an investor or contractor\u2014from adverse effects caused by changes in law or regulation after an agreement is signed. In practice, this clause may ensure that the terms of the contract remain unchanged even if new laws are enacted, or it may require renegotiation or compensation if compliance with new laws increases costs or obligations. Its core function is to provide certainty and security for parties making long-term commitments, thereby mitigating the risk of unexpected legal or regulatory changes impacting the agreement."}, "json": true, "cursor": ""}}