Securing of the Debentures. 4.4 The undertaking of the Company to repay the Debentures (principal, interest and linkage differences) is not secured by any collaterals.
Securing of the Debentures. 5.1 The Debentures that will be offered pursuant to the shelf offering reports in the framework of the Prospectus may be and may not be secured by any encumbrance. In a case in which the Debentures are secured by any collateral, the Trustee’s remuneration will be increased in accordance with the provisions of Clause 3.4 above. The Company reserves the right to create collateral security in favor of holders of the Debentures that may be issued in accordance with the Shelf Prospectus. Details about the mechanism for securing the Debentures that will be issued in accordance with the Shelf Prospectus, to the extent that they are secured by collateral, will be outlined in the framework of the relevant shelf offering report, and the conditions for the amendment to the Deed of Trust that is required by virtue of the addition of collateral security as aforesaid will be such that shall be agreed in advance with the Trustee. For the avoidance of doubt it is clarified that there shall be no obligation on the Trustee to examine, and at the date of issue of a series from the shelf the Trustee has in practice not examined and will not examine, the necessity for providing collateral security to secure the payments to the debenture holders, and the Trustee will not examine the economic value of the collateral security that will be provided (if any) to secure the payment to the debenture holders. Likewise the Trustee will not be required to carry out, and in practice the Trustee has not carried out, a financial, accounting or legal due diligence examination regarding the state of the business of the Company and/or the subsidiaries, and will not carry out such examination at the time of issue of a series from the shelf. By entering into this Deed of Trust, and by it agreeing to serve as trustee for the debenture holders, the Trustee is not expressing its opinion, whether expressly or impliedly, with regard to the Company’s ability to meet its obligations to the debenture holders. Nothing in the foregoing shall derogate from the duties and obligations of the Trustee according to law and/or under the Deed of Trust, including there being nothing which derogates from the Trustee’s obligation (to the extent that such obligation applies to the Trustee according to any law) to examine the effect of changes in the Company from the date of the Prospectus onwards, where such changes could adversely affect the Company’s ability to meet its obligations to the debenture holders. Nothing...
Securing of the Debentures. 5.1 The Debentures may or may not be secured by collateral, any pledge or otherwise. Information concerning the Debentures’ securing mechanism, if secured by collateral, any pledge or otherwise, will be provided in the Initial Shelf Offer Report for each of the relevant Series of Debentures.
