Common use of Determinations Clause in Contracts

Determinations. Any determination as to whether a Voluntary Exercise Notice is duly completed and in proper form shall be made by Clearstream, Luxembourg or Euroclear, as the case may be, in consultation with the Principal Agent, and shall be conclusive and binding on the Issuer, the Principal Agent and the relevant Holder. Subject as set out below, any Voluntary Exercise Notice so determined to be incomplete or not in proper form, or which is not copied to the Principal Agent immediately after being delivered or sent to Clearstream, Luxembourg or Euroclear, as the case may be, as provided in paragraph (A) above, shall be null and void. If such Voluntary Exercise Notice is subsequently corrected to the satisfaction of Clearstream, Luxembourg or Euroclear, as the case may be, in consultation with the Principal Agent, it shall be deemed to be a new Voluntary Exercise Notice submitted at the time such correction was delivered to Clearstream, Luxembourg or Euroclear, as the case may be, and the Principal Agent. If Automatic Exercise is not specified as applying in the applicable Final Terms, any Warrant with respect to which the Voluntary Exercise Notice has not been duly completed and delivered in the manner set out above by the cut-off time specified in Condition 4(A)(i), in the case of American Style Warrants, or Condition 4(A)(ii), in the case of European Style Warrants, shall become void. Clearstream, Luxembourg or Euroclear, as the case may be, shall use its best efforts promptly to notify the Holder submitting a Voluntary Exercise Notice if, in consultation with the Principal Agent, it has determined that such Voluntary Exercise Notice is incomplete or not in proper form. In the absence of negligence or wilful misconduct on its part, none of the Issuer, the Principal Agent, Clearstream, Luxembourg or Euroclear shall be liable to any person with respect to any action taken or omitted to be taken by it in connection with such determination or the notification of such determination to a Holder.

Appears in 2 contracts

Sources: Covered Warrant Agreement, Covered Warrant Negotiation

Determinations. Any determination as to whether a Voluntary an Exercise Notice is duly completed and in proper form shall be made by Clearstream, Luxembourg or Euroclear, as the case may be, in consultation with the Principal Security Agent, and shall be conclusive and binding on the Issuer, the Principal Security Agents, the Calculation Agent and the relevant HolderSecurityholder. Subject as set out below, any Voluntary Exercise Notice so determined to be incomplete or not in proper form, form or which is not copied duly delivered to the Principal Agent immediately after being delivered or sent to Euroclear and/or Clearstream, Luxembourg or Euroclear, (as the case may be) and copied to the Issuer and the Principal Security Agent (or, as provided in paragraph (Athe case of Definitive Warrants, is not duly delivered to the Issuer together with the relevant Definitive Warrant(s) aboveand copied to the Principal Security Agent), shall be null and void. If such Voluntary Exercise Notice is subsequently corrected to the satisfaction of Euroclear and/or Clearstream, Luxembourg or Euroclear, (as the case may beappropriate), in consultation with the Issuer and the Principal Security Agent (or, in the case of Definitive Warrants, to the satisfaction of the Issuer in consultation with the Principal Security Agent), it shall be deemed to be a new Voluntary Exercise Notice submitted at the time such correction was delivered to Euroclear and/or Clearstream, Luxembourg or EuroclearLuxembourg, as the case may be, and copied to the Issuer and the Principal Agent. If Automatic Exercise is not specified as applying in the applicable Final Terms, any Warrant with respect to which the Voluntary Exercise Notice has not been duly completed and delivered in the manner set out above by the cut-off time specified in Condition 4(A)(i)Security Agent (or, in the case of American Style Definitive Warrants, or Condition 4(A)(iito the Issuer and copied to the Principal Security Agent). Euroclear and/or Clearstream, Luxembourg, as applicable (or, in the case of European Style Definitive Warrants, shall become void. Clearstream, Luxembourg or Euroclear, as the case may be, Issuer) shall use its best efforts promptly to notify the Holder Securityholder submitting a Voluntary an Exercise Notice if, in consultation with the Issuer and/or the Principal AgentSecurity Agent (as applicable), it has determined that such Voluntary Exercise Notice is incomplete or not in proper form. In the absence of negligence or wilful misconduct on its part, none of the Issuer, the Principal AgentSecurity Agents, Euroclear, Clearstream, Luxembourg or Euroclear and the Calculation Agent shall be liable to any person with respect to any action taken or omitted to be taken by it in connection with such determination or the notification of such determination to a HolderSecurityholder.

Appears in 1 contract

Sources: Investment Certificates Negotiation