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Part 1 — Termination Provisions Regeling beleggen, lenen en derivaten OCW 2016

Termination Provisions

In this Agreement:

(a) ‘Specified Entity’ does not apply.

(b) ‘Specified Transaction’ will have the meaning specified in Section 14 of the Agreement.

(c) The ‘Cross-Default’ provisions of Section 5(a)(vi) of the Agreement will apply to Party A and will not apply to Party B provided, however, that notwithstanding the foregoing, an Event of Default shall not occur under either Section 5(a)(vi)(1) or (2) if (a) the event or condition referred to in Section 5(a)(vi)(1) or the failure to pay referred to in Section 5(a)(vi)(2) is a failure to pay caused by an error or omission of an administrative or operational nature; and (b) funds were available to such party to enable it to make the relevant payment when due; and (c) such relevant payment is made within three Local Business Days following receipt of written notice from an interested party of such failure to pay.

If such provisions apply:

• ‘Specified Indebtedness’ will have the meaning specified in Section 14.

• ‘Threshold Amount’ means with respect to Party A, an amount equal to one percent (1%) of its total equity share capital (as specified from time to time in its most recent Annual Report containing consolidated financial statements, prepared in accordance with accounting principles that are generally accepted for institutions of its type in the jurisdiction of its organization and certified by independent public accountants), or its equivalent in any other currency.

(d) The ‘Credit Event Upon Merger’ provisions of Section 5(b)(v) of the Agreement will apply to Party A and will apply to Party B.

(e) The ‘Automatic Early Termination’ provision of Section 6(a) of the Agreement will apply, provided that Automatic Early Termination shall not apply upon the occurrence of an Event of Default with respect of Party B specified in Section 5(a)(vii) (3), (6) or, to the extend analogous thereto, (8).

(f) ‘Termination Currency’ means Euro or the currency selected by the Non-defaulting Party or the Non-affected Party, or in the circumstance where there are two Affected Parties, agreed by Party A and Party B, and failing such agreement the Termination Currency shall be Euro.

(g) ‘Additional Termination Event’ will not apply.

Regeling
Regeling beleggen, lenen en derivaten OCW 2016
Soort
Ministeriële regeling
Geldend vanaf
01-08-2022
BWB-id
BWBR0038059
Versie
2022-08-01_0

In de hele regeling · Officiële tekst op wetten.overheid.nl