Direct Rights definition

Direct Rights means the rights referred to in Clause 2.1 (Direct Rights - Creation);

Direct Rights means the rights referred to in Clause 3 of the Deed of Covenant.

Direct Rights means the rights referred to and defined in Clause 2.1;

Examples of Direct Rights in a sentence

• No further action shall be required on the part of any person in order for such Direct Rights to be acquired and for each Relevant Account Holder to have the benefit of, and to enforce, rights corresponding to all the provisions of the relevant Definitive Notes as if they had been issued and as if such provisions had been specifically incorporated in this Schedule, other than the right to receive payments corresponding to any already made under this Global Note.

• Paragraph 11 of the Global Note shall apply, mutatis mutandis, to Direct Rights.

• Upon such notice being given the appropriate Direct Rights shall take effect.

• If principal in respect of any Notes is not paid when due and payable (but subject as provided below), the holder of this Global Note may from time to time elect that Direct Rights under the provisions of Part 3 to this Global Note shall come into effect.

• Reductions in the principal amount of this Global Note following redemption or partial exchange for Definitive Notes or exchange for Direct Rights or the purchase and cancellation of Notes are entered in the second and third columns below.

More Definitions of Direct Rights

Direct Rights means the rights referred to in paragraph 2

Direct Rights means, in the case of Bearer Notes, the rights referred to in Clause 3.1 (Direct rights – Bearer Notes) and, in the case of Registered Note, the rights referred to in Clause 3.2 (Direct Rights – Registered Notes);

Direct Rights means, in the case of Bearer Instruments, the rights referred to in Clause 6.1 and in the case of Registered Instruments, the rights referred to in Clause 6.2.

Direct Rights means, in relation to any Global Instrument, those rights which each Relevant Account Holder would have had in respect of the Instruments if, immediately before the Determination Date in relation to the relevant Global Instrument, Definitive Instruments, Individual International Instrument Certificates or Individual Instrument Certificates (as the case may be) had been issued in its favour by SEK in exchange for its interest in the relevant Global Instrument in an aggregate principal amount equal to the Principal Amount of such Relevant Account Holder's Entries relating to such Global Instrument, including, without limitation, rights to receive all payments of principal and any interest in respect of the Instruments represented by such Definitive Instruments, Individual International Instrument Certificates or Individual Instrument Certificates (as the case may be) as if such Definitive Instruments, Individual International Instrument Certificates or Individual Instrument Certificates, respectively, had (where required by the Conditions) been duly presented and (where required by the Conditions) surrendered on the due date in accordance with the Conditions. Anything which might prevent the issuance of Definitive Instruments, Individual International Instrument Certificates or Individual Instrument Certificates in an aggregate principal amount equal to the Principal Amount of any Entry of any Relevant Account Holder shall be disregarded for the purposes of this definition, but without prejudice to its effectiveness for any other purpose.

Direct Rights means the rights referred to in paragraph 2;

Direct Rights means the rights referred to in paragraph 2 of this Schedule;

Direct Rights have the respective meanings given to them in the Deed of Covenant).