Common use of Agreement to Write-Down and Cancellation Clause in Contracts

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.

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 on the relevant Write-Down and Cancellation Date upon the occurrence of a Non-Viability Event or immediately upon the occurrence of a Bankruptcy Event on the relevant Write-Down and Cancellation DateEvent, subject in each case to any modifications or additional terms established pursuant to Section 2.03 or Article 7.