Early Maturity Mechanism. (a) If the Issuer determines that there will be an Early Maturity, the Early Maturity will take place as follows: (i) The Issuer will, before the Early Maturity Date, notify the Investor that Early Maturity will occur on the Early Maturity Date in accordance with clause 5 of these Terms. The Issuer will specify in the Early Maturity Notice whether Early Maturity will occur by the Maturity process in accordance with clause 5.4(a)(ii) or by Termination Payment in accordance with clause 5.4(a)(iii). (ii) If specified in the Early Maturity Notice and subject to clause 5.4(b), Early Maturity will take place in accordance with the procedures set out in clauses 4.2 to 4.5 of these Terms. (iii) If specified in the Early Maturity Notice, Early Maturity will occur by the Issuer or its nominees paying or procuring payment to the Investor the Termination Payment less any Loan Amount outstanding (if the Investor has not repaid the Loan prior to the Early Maturity Date) on the Early Maturity Date to the Investor’s Nominated Account by the Settlement Date or as soon as practicable thereafter. (iv) After the Delivery Parcel is delivered to the Investor under clause 4.3 or the Issuer or its nominees pays or procures payment to the Investor the Termination Payment in accordance with clause 5.4(a)(iii) as a result of an Early Maturity Event occurring, all obligations of the Issuer and the Custodian to the Investor under these Terms are satisfied in full and discharged. This clause does not discharge the Issuer of its obligations under the Privacy Act or the terms of its privacy policy. The Issuer’s and the Custodian’s obligations to the Investor under the terms of the Custody Deed and the Custodian’s obligations under the Investor Security Deed are satisfied in full and discharged, and the Investor Security Deed will be released. (b) If an Early Maturity is nominated by the Issuer, for the purposes of determining the Delivery Parcel, the definition of “Delivery Parcel” in the Definitions section of the PDS and in the Term Sheet PDS is amended by replacing “Final Value” with “Early Maturity Value”.
Appears in 2 contracts
Sources: Deferred Purchase Agreement, Deferred Purchase Agreement