Common use of Conversion Event Clause in Contracts

Conversion Event. Subject to Section 2.03(b) of this Fourteenth Supplemental Indenture, if at any time prior to the maturity of the 2020 Senior Notes, there is a Conversion Event such that the United Kingdom adopts the euro as its lawful currency in accordance with the Treaty establishing the European Communities, as amended from time to time, the 2020 Senior Notes shall be re-denominated into euro, the regulations of the European Commission relating to the euro shall apply to the 2020 Senior Notes and the references in, and obligations arising under, the Indenture expressed in Pounds Sterling shall be translated into euro at the official rate of exchange recognized for that purpose by the Bank of England on the date of such Conversion Event or such other date reasonably proximate to such Conversion Event.