ANZ Capital Summary and Key Financials
EVENTS OF DEFAULT
• The Subordinated Notes have very limited events of default:
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Payment default: an event of default will occur if ANZ does not pay any
face value due in respect of the Subordinated Notes within 7 days of its
due date, or ANZ does not pay any interest due in respect of the
Subordinated Notes within 15 days of its due date
Commencement of liquidation: an event of default will occur on the
commencement of liquidation of ANZ
• To the extent that a payment on the Subordinated Notes is not made
because the Solvency Condition is not satisfied, the amount is not due and
payable and a payment default cannot occur
• If a payment default occurs, Holders may only bring proceedings:
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to recover any amount then due and payable but unpaid on the
Subordinated Notes (subject to satisfaction of the Solvency Condition if
the payment of the unpaid amount was subject to the Solvency
Condition);
to obtain an order for specific performance of any other obligation in
respect of the Subordinated Notes; or
for the liquidation of ANZ
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