Common use of Substitution and Addition Clause in Contracts

Substitution and Addition. The note trustee may also agree to the substitution of any other body corporate in place of the issuer as principal debtor under the trust deed and the notes and in the case of such a substitution or addition the note trustee may agree, without the consent of the noteholders, to a change of the law governing the notes and/or the trust deed provided that such change would not in the opinion of the trustee be materially prejudicial to the interests of the noteholders. Any such substitution or addition will be promptly notified to the noteholders in accordance with condition number 14.

Substitution and Addition. The note trustee may also agree to the substitution of any other body corporate in place of the issuer issuing entity as principal debtor under the note trust deed and the notes and in the case of such a substitution or addition the note trustee may agree, without the consent of the noteholdersNoteholders, to a change of the law governing the notes and/or the note trust deed provided that PROVIDED THAT such change would not in the opinion of the trustee be materially prejudicial to the interests of the noteholdersholders of the Most Senior Class of notes. Any such substitution or addition will be promptly notified to the noteholders Noteholders in accordance with condition number 1415.