Examples of Mandatory Conversion Conditions in a sentence
I further direct the credit reporting agency to which Lender delivers a copy of this authorization to furnish the credit report to Lender.
If the Ordinary Share price deteriorates significantly and never recovers, it is possible that the Mandatory Conversion Conditions will never be satisfied and, if this occurs, Notes will never Convert.
Conversion on account of the occurrence of a Trigger Event is not subject to the matters described in clause 4.3 as Mandatory Conversion Conditions.
There is a risk that Conversion will not occur because the Mandatory Conversion Conditions are not satisfied.If the Mandatory Conversion Conditions are never satisfied there is a risk that the Notes may never Convert and could remain on issue indefinitely.Holders have no Holders have no right to request that their Notes be Exchanged.
For instance, systemic and non-systemic macroeconomic, environmental and operational factors, globally and in Australia and New Zealand may affect the viability of ANZ.Conversion resulting from the occurrence of a Trigger Event is not subject to the Mandatory Conversion Conditions or other conditions.
If Mandatory Conversion does not occur on the Scheduled Mandatory Conversion Date, Mandatory Conversion would then occur on the first Distribution Payment Date following the Scheduled Mandatory Conversion Date on which all of the Mandatory Conversion Conditions are satisfied unless Notes are otherwise Exchanged on or before that date.
If the conditions to Conversion on the Exchange Date are not satisfied, ANZ will notify Holders and the Conversion will be deferred until the first Distribution Payment Date (under Clause 3.5(a) of the Note Terms) following that Exchange Date on which the Mandatory Conversion Conditions would be satisfied as if that Distribution Payment Date were a possible Mandatory Conversion Date.
The only conditions to Conversion are, in the case of Mandatory Conversion, the Mandatory Conversion Conditions and, in the case of Conversion following a Change of Control Event or an Exchange at ANZ’s option, the conditions expressly applicable to such Conversion under Clauses 4.10 or 5 of the Note Terms (as the case may be).
Issue DateOptional Exchange DateMandatory Conversion DatePotentially perpetual27 September 201620 March 202420 March 2026Approximately 7.5 Years2 YearsIf ANZ chooses, and certain conditions are met, Notes will be Converted, Redeemed or Resold on this dateIf the Mandatory Conversion Conditions are met, Notes will be Converted on this dateThere are certain other events that could occur at any time which may result in Notes being Converted, Redeemed, Resold or Written Off.
Each of the Optional Conversion / Redemption / Resale Dates assume the Issue Date is 7 July 2022.4 Due to the Business Day convention, this date is deferred from 17 March 2030 to 18 March 2030.5 NAB Capital Notes 6 will Convert into Ordinary Shares on 17 September 2032 (subject to the Mandatory Conversion Conditions being satisfied and only if, prior to that date, NAB Capital Notes 6 have not been Converted, Redeemed or Resold with APRA’s prior written approval, or Written Off).