Plain English - Organise: Difference between revisions

{{quote|<small>Following an enforcement of the Security, the Noteholders rights to be paid amounts due under the Notes will be subordinated to (i) the Issuer’s share of all taxes owing by the Issuer, (ii) the Trustee’s fees, costs, charges, expenses and liabilities; (iii) certain amounts owing to the Agents and the Corporate Service Provider; (iv) fees of the Disposal Agent, Calculation Agent and/or Collateral Manager, any amounts owing to the Hedge Counterparty under the Hedging Agreement and any amounts owing to the Vendor under the Collateral Sale Agreement and (v) any other claims as specified in the Conditions as may be amended by the Issue Deed relating to the relevant Series of Notes, that rank in priority to the Notes. Such subordination could significantly reduce the amount of available proceeds receivable by the Noteholders following the liquidation of the Collateral or on an enforcement of the Security. </small>}}