Signal versus noise: Difference between revisions
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Revision as of 15:12, 31 October 2022
Noise |
Signal |
Covenant to Pay: The Issuer shall, |
Covenant to Pay: The Issuer shall, when any payment of principal becomes due, unconditionally pay it to the Trustee in the Contractual Currency and shall unconditionally pay interest as set out in the Conditions. Payment to the Issuing and Paying Agent shall satisfy such obligation unless it is not then paid to the holders. Payment made after the due date or where the Notes are repayable early will be satisfied when received by the Issuing and Paying Agent unless it is not then paid to the holders.
The Trustee holds this covenant on trust for itself and the holders. |