SEVERAL SERIES Sample Clauses
The "Several Series" clause defines how obligations and liabilities are allocated among different series or classes within a larger entity, such as a trust or fund. In practice, this clause ensures that the assets and liabilities of each series are kept separate, so that the creditors of one series cannot claim against the assets of another. For example, if a fund has multiple investment series, losses in one series do not affect the others. This structure protects investors and participants by isolating financial risks and clarifying the boundaries of responsibility within the entity.
SEVERAL SERIES. The following provisions shall apply where outstanding Notes belong to more than one Series:
(a) Business which affects the Notes of only one Series shall be transacted at a separate Meeting of the holders of the Notes of that Series.
(b) Business which affects the Notes of more than one Series but does not give rise to an actual or potential conflict of interest between the holder of Notes or one such Series and the holders of Notes of any other such Series shall be transacted either at separate Meetings of the holders of the Notes of each such Series or at a single Meeting of the holders of the Notes of all such Series.
(c) Business which affects the Notes of more than one Series and gives rise to an actual or potential conflict of interest between the holders of Notes of one such Series and the holders of Notes of any other such Series shall be transacted at separate Meetings of the holders of the Notes of each such Series.
(d) The preceding paragraphs of this Schedule shall be applied as if references to the Notes and Noteholders were to the Notes of the relevant Series and to the holders of such Notes. In this paragraph, "business" includes (without limitation) the passing or rejection of any resolution.
SEVERAL SERIES. The following provisions shall apply where outstanding Covered Bonds belong to more than one Series:
(a) business which in the opinion of the Security Trustee affects the Covered Bonds of only one Series shall be transacted at a separate Meeting of the holders of the Covered Bonds of that Series;
(b) to give any other authorisation or approval which under this Trust Deed or the Covered Bonds which is required to be given by Extraordinary Resolution;
(c) business which in the opinion of the Security Trustee affects the Covered Bonds of more than one Series but does not give rise to an actual or potential conflict of interest between the holder of Covered Bonds of one such Series and the holders of Covered Bonds of any other such Series shall be transacted either at separate Meetings of the holders of the Covered Bonds of each such Series or at a single Meeting of the holders of the Covered Bonds of all such Series, as the Security Trustee shall in its absolute discretion determine;
(d) business which in the opinion of the Security Trustee affects the Covered Bonds of more than one Series and gives rise to an actual or potential conflict of interest between the holders of Covered Bonds of one such Series and the holders of Covered Bonds of any other such Series shall be transacted at separate Meetings of the holders of the Covered Bonds of each such Series; and
(e) the preceding paragraphs of this Schedule shall be applied as if references to the Covered Bonds and Covered Bondholders were to the Covered Bonds of the relevant Series and to the holders of such Covered Bonds. In this paragraph, "business" includes (without limitation) the passing or rejection of any resolution. (incorporated with limited liability under the laws of the Netherlands and having its corporate seat in The Hague) [currency][amount][type] Covered Bonds due [●] ISIN: This Covered Bond is one of a series of duly authorised Covered Bonds (the "Covered Bonds") in the denomination of €[100,000] and in the aggregate principal amount of [€ ] issued by NIBC Bank N.V. (the "Issuer"). The Covered Bonds are subject to, and have the benefit of, a trust deed dated 30 May 2022 between the Issuer, Stichting Security Trustee NIBC SB Covered Bond Company (the "Security Trustee") as Security Trustee for the holders of the Covered Bonds as modified and/or supplemented and/or restated from time to time and NIBC SB Covered Bond Company B.V. (the "CBC") as guarantor. The Issuer, for value received, promise...
SEVERAL SERIES. The following provisions shall apply where outstanding Notes belong to more than one series:
(a) Business which in the opinion of the Trustee affects the Notes of only one series shall be transacted at a separate Meeting of the holders of the Notes of that series.
(b) Business which in the opinion of the Trustee affects the Notes of more than one series but does not give rise to an actual or potential conflict of interest between the holder of Notes of one such series and the holders of Notes of any other such series shall be transacted either at separate Meetings of the holders of the Notes of each such series or at a single Meeting of the holders of the Notes of all such Series, as the Trustee shall in its absolute discretion determine.
(c) Business which in the opinion of the Trustee affects the Notes of more than one series and gives rise to an actual or potential conflict of interest between the holders of Notes of one such series and the holders of Notes of any other such series shall be transacted at separate Meetings of the holders of the Notes of each such series.
(d) The preceding paragraphs of this Schedule shall be applied as if references to the Notes and Noteholders were to the Notes of the relevant series and to the holders of such Notes.
(e) In this paragraph, “business” includes (without limitation) the passing or rejection of any resolution.
SEVERAL SERIES. The following provisions shall apply where outstanding Covered Bonds belong to more than one Series:
SEVERAL SERIES. The following provisions shall apply where outstanding Loan Notes belong to more than one series:
(a) Business which in the opinion of the Security Trustee affects the Loan Notes of only one series shall be transacted at a separate Meeting of the holders of the Loan Notes of that series;
(b) Business which in the opinion of the Security Trustee affects the Loan Notes of more than one series but does not give rise to an actual or potential conflict of interest between the holder of the Loan Notes or one such series and the holders of Loan Notes of any other such series shall be transacted either at separate Meetings of the holders of the Loan Notes of each such series or at a single Meeting of the holders of the Loan Notes of all such Series, as the Security Trustee shall in its absolute discretion determine.
(c) Business which in the opinion of the Security Trustee affects the Loan Notes of more than one series and gives rise to an actual or potential conflict of interest between the holders of Loan Notes of one such series and the holders of Loan Notes of any other such series shall be transacted at separate Meetings of the holders of the Loan Notes of each such series.
(d) The preceding clauses of this Schedule shall be applied as if references to the Loan Notes and Loan Noteholders were to the Loan Notes of the relevant series and to the holders of such Loan Notes. In this clause, "BUSINESS" includes (without limitation) the passing or rejection of any resolution. SCHEDULE 4 NOTICE OF ASSIGNMENT (FOR THE PURPOSES OF THE SECURITY INTERESTS (JERSEY) LAW, 1983) AS AMENDED) (THE "JERSEY SECURITY LAW") To: [person from whom assignor would have claimed collateral but for the assignment] From: RBS Cards Securitisation Funding Limited (the "LOAN NOTE ISSUER")
SEVERAL SERIES. The following provisions shall apply where outstanding Notes belong to more than one Series:
SEVERAL SERIES. The following provisions shall apply where more than one Series Loan Note is outstanding:
(a) Business which in the opinion of the Security Trustee affects the Loan Note of only one Series shall be transacted at a separate Meeting of the holder of the Loan Note of that Series;
(b) Business which in the opinion of the Security Trustee affects the Loan Notes of more than one Series but does not give rise to an actual or potential conflict of interest between the Loan Note Holder of one such Series and the holder of the Loan Note of any other such Series shall be transacted either at separate Meetings of the holder of the Loan Note of each such Series or at a single Meeting of the holders of the Loan Notes of all such Series, as the Security Trustee shall in its absolute discretion determine.
(c) Business which in the opinion of the Security Trustee affects the Loan Notes of more than one Series and gives rise to an actual or potential conflict of interest
SEVERAL SERIES the following provisions shall apply where Notes for the time being outstanding belong to more than one Series:
23.1 Business which in the opinion of the Trustee affects the Notes of only one Series shall be transacted at a separate Meeting of the Holders of that Series.
23.2 Business which in the opinion of the Trustee affects the Notes of more than one Series but does not give rise to an actual or potential conflict of interest between the Noteholders of one such Series and the Noteholders of any other such Series shall be transacted either at separate Meetings of the Noteholders of each such Series or at a single Meeting of the Noteholders of all such Series, as the Trustee shall in its absolute discretion determine.
23.3 Business which in the opinion of the Trustee affects the Notes of more than one Series and gives rise to an actual or potential conflict of interest between the Noteholders of one such Series and the Noteholders of any other such Series shall be transacted at separate Meetings of the Noteholders of each such Series.
23.4 In this paragraph, "business" includes (without limitation) the passing or rejection of any resolution.