Examples of Underlying Note in a sentence
The Issuer's obligation under this clause shall be a separate and independent obligation by reference to each Underlying Note which a Relevant Account Holder has credited to its securities account with the Relevant Clearing System and the Issuer agrees that a Relevant Account Holder may assign its rights under this Deed in whole or in part.
The relevant Issuer’s obligation under this Clause 31 shall be a separate and independent obligation by reference to each Underlying Note which a Relevant Account Holder has credited to its securities account with the Relevant Clearing System and the relevant Issuer agrees that a Relevant Account Holder may assign its rights under this Clause 31 in whole or in part.
Until all amounts which may be payable under the Notes, the Coupons, the Receipts and/or (in respect of any Underlying Note) the Deed of Covenant have been irrevocably paid in full, the Guarantor shall not by virtue of this Guarantee be subrogated to any rights of any Holder or claim in competition with the Holders against the Issuer.
The Guarantor hereby agrees that, in the event of a default in payment of any amount guaranteed hereby in respect of any Note (or in respect of any Underlying Note), legal proceedings may be instituted by a Holder of such Note (or Underlying Note), subject to the terms and conditions set forth in this Guarantee, directly against the Guarantor to enforce this Guarantee without first proceeding against the Issuer.
The Guarantor's obligations under this Guarantee are and will remain in full force and effect by way of continuing security until no sum remains payable under any Note, any Coupon, any Receipt or (in respect of any Underlying Note) the Deed of Covenant.