Revised Laws of Saint Lucia (2021)

266.   Definitions

In this Division—

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    (a)     “event of default” means an event specified in a trust deed on the occurrence of which—

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      (i)     a security interest constituted by the trust deed becomes enforceable, or

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      (ii)     the principal, interest and other moneys payable thereunder become, or can be declared to be, payable before maturity,

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    but the event is not an event of default until all conditions prescribed in the trust deed in connection with that event for the giving of notice or the lapse of time or otherwise have been satisfied;

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    (b)     “trustee” means any person appointed as trustee under the terms of a trust deed to which a company is a party, and includes any successor trustee;

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    (c)     “trust deed” means any deed, indenture or other instrument, including any supplement or amendment thereto, made by a company after its incorporation or continuance under this Act, under which the company issues debentures and in which a person is appointed as trustee for the holders of the debentures issued thereunder.