Agreement to Write-Down and Cancellation Clause Samples

Agreement to Write-Down and Cancellation. Each Holder of any Securities, by subscribing for, purchasing or otherwise acquiring such Securities, accepts and agrees that, notwithstanding anything to the contrary contained in the terms of the Securities: (a) upon the occurrence of a Non-Viability Event or a Bankruptcy Event and a Write-Down and Cancellation of the Securities, such holders shall be deemed to have irrevocably waived their right to claim or receive, not having any rights against the Company with respect to, and to be unable to instruct the Trustee to enforce, the payment of principal of or interest on the Securities (including Additional Amounts with respect thereto, if any) (except for any payments of principal, interest or other amounts that have become due and payable on or before the date of the occurrence of such Non-Viability Event or Bankruptcy Event and remain unpaid) and shall be bound by the provisions of this Article; (b) upon the occurrence of a Non-Viability Event, a Bankruptcy Event or a Liquidation Event after the issuance of a redemption notice, (1) such redemption notice shall be automatically rescinded, (2) no redemption amount shall become due and payable, (3) in case of the occurrence of a Non-Viability Event or a Bankruptcy Event, the Securities shall become subject to a Write-Down and Cancellation, and (4) in case of the occurrence of a Liquidation Event, the Securities shall become subject to the subordination provisions of Article 12; (c) no such Write-Down and Cancellation or rescission in accordance with the terms of this Indenture shall constitute a default or breach in payment or otherwise under the terms of the Securities; and (d) such holder shall authorize, direct and request DTC (or any other applicable clearing organization) and any direct participant in DTC or other intermediary through which it holds the Securities, the Trustee and the Registrar to take any and all necessary action, if required, to implement a Write-Down and Cancellation of the Securities without any further action or direction on the part of such Holder.
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Agreement to Write-Down and Cancellation. Each Holder and beneficial owner of a Security, by its acquisition of such Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees that, to the extent and in the manner set forth herein, the Issuer shall not be obliged to make any payment of principal or interest on the Securities issued hereunder (including Additional Amounts with respect thereto, if any) except for payments of principal of or interest on the Securities (including Additional Amounts with respect thereto, if any) that have become due and payable prior to the occurrence of a Non-Viability Event or a Bankruptcy Event and that the Securities shall be subject to Write-Down and Cancellation upon the occurrence of a Non-Viability Event or a Bankruptcy Event on the relevant Write-Down and Cancellation Date, subject in each case to any modifications or additional terms established pursuant to Section 2.03 or Article 7.
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Agreement to Write-Down and Cancellation. Each Holder of any Securities, by subscribing for, purchasing or otherwise acquiring such Securities, accepts and agrees that, notwithstanding anything to the contrary contained in the terms of the Securities: (a) upon the occurrence of a Non-Viability Event or a Bankruptcy Event and a Write-Down and Cancellation of the Securities, such holders shall be deemed to have irrevocably waived their right to claim or receive, not having any rights against the Company with respect to, and to be unable to instruct the Trustee to enforce, the payment of principal of or interest on the Securities (including Additional Amounts with respect thereto, if any) (except for any payments of principal, interest or other amounts that have become due and payable on or before the date of the occurrence of such Non-Viability Event or Bankruptcy Event and remain unpaid) and shall be bound by the provisions of this Article;
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Related to Agreement to Write-Down and Cancellation

  • Amendment and Cancellation We may amend or change the terms and conditions of this Agreement at any time. You will be notified of any change in the manner provided by applicable law prior to the effective date of the change. However, if the change is made for security purposes, we can implement such change without prior notice. We may cancel or suspend your Card or this Agreement at any time. You may cancel this Agreement by returning the Card to us. Your termination of this Agreement will not affect any of our rights or your obligations arising under this Agreement prior to termination. In the event that your Card Account is cancelled, closed, or terminated for any reason, you may request the unused balance to be returned to you via a check to the mailing address we have in our records. There may be a fee for this service. Subject to applicable law, the Issuer reserves the right to refuse to return any unused balance amount less than $1.00.

  • Termination and Cancellation 9. 1. Licences will expire after the period shown in Clause 3 (above). 9. 2. Licensee reserves the right to terminate the Licence in the event that payment is not received in full or if there has been a breach of this agreement by you. Appendix 1 — Acknowledgements: Reprinted by permission from [the Licensor]: [Journal Publisher (e.g. Nature/Springer/Palgrave)] [JOURNAL NAME] [REFERENCE CITATION (Article name, Author(s) Name), [COPYRIGHT] (year of publication) For Advance Online Publication papers: Reprinted by permission from [the Licensor]: [Journal Publisher (e.g. Nature/Springer/Palgrave)] [JOURNAL NAME] [REFERENCE CITATION (Article name, Author(s) Name), [COPYRIGHT] (year of publication), advance online publication, day month year (doi: 10.1038/sj.[JOURNAL ACRONYM].)