Common use of EU Bail-In Clause in Contracts

EU Bail-In. 35.1 Notwithstanding and to the exclusion of any other term of this Agreement or any other agreements, arrangements, or understanding between any BRRD Party and any other party (whether or not a BRRD Party) to this Agreement (each a "Counterparty"), each Counterparty acknowledges and accepts that a BRRD Liability arising under this Agreement may be subject to the exercise of Bail-in Powers by the Relevant Resolution Authority, and acknowledges, accepts and agrees to be bound by: 35.1.1 the effect of the exercise of Bail-in Powers by the Relevant Resolution Authority in relation to any BRRD Liability of any BRRD Party to each Counterparty under this Agreement, that (without limitation) may include and result in any of the following, or some combination thereof: (A) the reduction of all, or a portion, of the BRRD Liability or outstanding amounts due thereon; (B) the conversion of all, or a portion, of the BRRD Liability into shares, other securities or other obligations of the relevant BRRD Party or another person, and the issue to or conferral on the (or each) relevant Counterparty of such shares, securities or obligations; (C) the cancellation of the BRRD Liability; and/or (D) the amendment or alteration of any interest, if applicable, thereon, the maturity or the dates on which any payments are due, including by suspending payment for a temporary period; and 35.1.2 the variation of the terms of this Agreement, as deemed necessary by the Relevant Resolution Authority, to give effect to the exercise of Bail-in Powers by the Relevant Resolution Authority. 35.2 For the purposes of this clause 35, "Relevant Resolution Authority" means the relevant resolution authority with the ability to exercise any Bail-in Powers in relation to the relevant BRRD Party. 35.3 Each of the parties to this Agreement acknowledges and agrees that this Clause 35 is exhaustive on the matters described herein to the exclusion of any other agreements, arrangements or understandings relating to the application of any Bail-in Powers in relation to any BRRD Liability arising under this Agreement.

EU Bail-In. 35.1 Notwithstanding and to the exclusion of any other term of this Agreement or any other agreements, arrangements, or understanding between any BRRD Party and any other party (whether or not a BRRD Party) to this Agreement (each a "Counterparty"), each Counterparty acknowledges and accepts that a BRRD Liability arising under this Agreement may be subject to the exercise of Bail-in Powers by the Relevant Resolution Authority, and acknowledges, accepts and agrees to be bound by: 35.1.1 (a) the effect of the exercise of Bail-in Powers by the Relevant Resolution Authority in relation to any BRRD Liability of any BRRD Party to each Counterparty under this Agreement, that (without limitation) may include and result in any of the following, or some combination thereof: (Ai) the reduction of all, or a portion, of the BRRD Liability or outstanding amounts due thereon; (Bii) the conversion of all, or a portion, of the BRRD Liability into shares, other securities or other obligations of the relevant BRRD Party or another person, and the issue to or conferral on the (or each) relevant Counterparty of such shares, securities or obligations; (Ciii) the cancellation of the BRRD Liability; and/or (Div) the amendment or alteration of any interest, if applicable, thereon, the maturity or the dates on which any payments are due, including by suspending payment for a temporary period; and 35.1.2 (b) the variation of the terms of this Agreement, as deemed necessary by the Relevant Resolution Authority, to give effect to the exercise of Bail-in Powers by the Relevant Resolution Authority. 35.2 For the purposes of this clause Clause 35, "Relevant Resolution Authority" means the relevant resolution authority with the ability to exercise any Bail-in Powers in relation to the relevant BRRD Party. 35.3 Each of the parties to this Agreement acknowledges and agrees that this Clause 35 is exhaustive on the matters described herein to the exclusion of any other agreements, arrangements or understandings relating to the application of any Bail-in Powers in relation to any BRRD Liability arising under this Agreement.