Write Down the Write Down Amount for the purposes of the Principal Write Down Measure.įollowing any Principal Write Down Measure in accordance with this Clause 8, references herein to "outstanding principal amount" of the Subordinated Loan shall be construed as references to the Outstanding Principal Amount. Pursuant to Clause 8 of the Subordinated Loan Agreement, if a Write Down Event has occurred and is continuing, then on the Write Down Measure Effective Date RSB's obligations under the Subordinated Loan Agreement to repay the principal amount of the Loan will be terminated in whole or in part and RSB shall Write Down the Write Down Amount for the purposes of the Principal Write Down Measure, as all such terms are defined in the Subordinated Loan Agreement. Examples of Principal Write Down Measure in a sentenceįollowing any application of the Principal Write Down Measure in accordance with this Clause 4.5, references in this Agreement to the outstanding principal amount of the Loan (howsoever described) shall be construed accordingly.Ĭapital in full, and the Monetary Damages Cancellation Measure, together with the cancellation of monetary damages on the Write Down Instruments which qualify as Additional Tier 1 capital in full, are insufficient to remedy the Write Down Event, Write Down the Write Down Amount for the purposes of the Principal Write Down Measure in accordance with Clause 9 ( Write Down) of the Subordinated Loan Agreement.
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