Tax clauses—terms and conditions—plain vanilla bond
Tax clauses—terms and conditions—plain vanilla bond

The following Tax precedent provides comprehensive and up to date legal information covering:

  • Tax clauses—terms and conditions—plain vanilla bond

  1. 1

    Redemption and purchase

    1. 1.1

      Redemption for tax reasons

      1. The Bonds may be redeemed at the option of the Issuer in whole, but not in part, at any time, on giving not less than [30] nor more than [60] days’ notice to the Bondholders in accordance with Condition [insert notices condition] (which notice shall be irrevocable), at their nominal amount, (together with interest accrued to but excluding the date fixed for redemption), if:

      2. 1.1.1

        the Issuer satisfies the Trustee immediately prior to the giving of such notice that it [(or, if the Guarantee were called, the Guarantor)] has or will become obliged to pay additional amounts as provided or referred to in Condition 3 as a result of any change in, or amendment to, the laws or regulations of [the United Kingdom OR the relevant Tax Jurisdiction] or any political subdivision or any authority thereof or therein having power to tax, or any change in the application or official interpretation of such laws or regulations, which change or amendment becomes effective on or after the Issue Date, and

      3. 1.1.2

        such obligation cannot be avoided by the Issuer [(or the Guarantor, as the case may be)] taking reasonable measures available to

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