Common use of Appointment and Duties of the Calculation Agent Clause in Contracts

Appointment and Duties of the Calculation Agent. (a) Unless the Paying Agent advises the Trust that it is unable to act as Calculation Agent, the Trust appoints the Paying Agent at its specified office as Calculation Agent in relation to the Notes in respect of which it is named as such in the relevant Pricing Supplement for the purposes specified in the Indenture and all matters incidental thereto. (b) The Paying Agent accepts its appointment as Calculation Agent in relation to the Notes in respect of which it is named as such in the relevant Pricing Supplement and shall perform all matters expressly to be performed by it in, and otherwise comply with, the terms and conditions of the Notes and the provisions of the Indenture and, in connection therewith, shall take all such action as may be incidental thereto. The Paying Agent acknowledges and agrees that it shall be named in the relevant Pricing Supplement as Calculation Agent in respect of the Notes unless the Relevant Agents (or one of the Relevant Agents) through whom the Notes are issued has agreed with the Trust to act as Calculation Agent (in which case such Relevant Agent or Agents shall be named as Calculation Agent in the related Pricing Supplement). If the Calculation Agent is incapable or unwilling to perform its duties under the Indenture, the Indenture Trustee will appoint the Paying Agent or another leading commercial bank to serve as Calculation Agent. Any resignation by or termination of a Calculation Agent shall not be effective until a successor Calculation Agent has been appointed. (c) The Calculation Agent shall:

Appointment and Duties of the Calculation Agent. (a) Unless 11.01 The Issuer and the Paying Agent advises Guarantor appoint the Trust that it is unable to act as Calculation Agent, the Trust appoints the Issuing and Paying Agent at its specified office as Calculation Agent in relation to the Notes each Series of Covered Bonds in respect of which it is named as such in the relevant Pricing Supplement applicable Final Terms for the purposes specified in this Agreement and in the Indenture Conditions and all matters incidental thereto. (b) 11.02 The Issuing and Paying Agent accepts its appointment as Calculation Agent in relation to the Notes each Series of Covered Bonds in respect of which it is named as such in the relevant Pricing Supplement applicable Final Terms and shall perform all matters expressly expressed to be performed by it in, and otherwise comply with, the terms and conditions of the Notes Conditions and the provisions of the Indenture this Agreement and, in connection therewith, shall take all such action as may be incidental thereto. The Issuing and Paying Agent acknowledges and agrees that it shall be named in the relevant Pricing Supplement applicable Final Terms as Calculation Agent in respect of each Series of Covered Bonds unless (i) the Notes unless the Relevant Agents Dealer (or one of the Relevant AgentsDealers) through whom the Notes such Covered Bonds are issued has agreed with the Trust Issuer to act as Calculation Agent or the Issuer otherwise agrees to appoint another institution as Calculation Agent (in each case, notifying the Issuing and Paying Agent of the same) or (ii) the Issuing and Paying Agent has advised the Issuer that it wishes to decline such appointment, in which case such Relevant Agent or Agents the Issuer shall be named as Calculation Agent in the related Pricing Supplement). If the Calculation Agent is incapable or unwilling to perform its duties under the Indenture, the Indenture Trustee will appoint the Paying Agent or another leading commercial bank to serve institution as Calculation Agent. Any resignation by or termination of a Calculation Agent shall not be effective until a successor Calculation Agent has been appointed. (c) The Calculation Agent shall: