Common use of Medium term note settlement procedures Clause in Contracts

Medium term note settlement procedures. in the case of a Tranche of Covered Bonds which is not syndicated among two or more Dealers but which is intended to be cleared through a clearing system, on the Business Day immediately preceding its Issue Date deliver the Global Covered Bonds to the relevant depositary for Euroclear and/or Clearstream, Luxembourg (which in the case of an NGCB Temporary Global Covered Bond or an NGCB Permanent Global Covered Bond, or a Global Registered Covered Bond to be held under the NSS shall be a specified Common Safekeeper) or to the relevant depositary for such other clearing system as shall have been agreed between the Issuer and the Fiscal Agent or, as the case may be, the Registrar and: (a) instruct the clearing systems to whom (or to whose depositary or Common Safekeeper) such Global Covered Bond has been delivered, to credit the underlying Covered Bonds represented by such Global Covered Bond to the securities account(s) at such clearing systems that have been notified to the Fiscal Agent or, as the case may be, the Registrar by the Issuer, on a delivery against payment basis or, if specifically agreed between them, on a delivery free of payment basis; (b) in the case of an NGCB Temporary Global Covered Bond or an NGCB Permanent Global Covered Bond, or a Global Registered Covered Bond to be held under the NSS instruct the Common Safekeeper to effectuate the Global Covered Bond (provided that, if the Fiscal Agent is the Common Safekeeper, the Fiscal Agent shall effectuate the Global Covered Bond); and

Medium term note settlement procedures. in the case of a Tranche or Series, as the case may be, of Covered Bonds Notes which is not syndicated among two or more Dealers but which is intended to be cleared through a clearing system, on the Business Local Banking Day immediately preceding its Issue Date deliver the each relevant Global Covered Bonds Bearer Note or Global Certificate to the relevant depositary for Euroclear and/or Clearstream, Luxembourg (which in the case of an NGCB NGN Temporary Global Covered Bond Note or an NGCB NGN Permanent Global Covered Bond, Note or a Global Registered Covered Bond Certificate to be held under the NSS shall be a specified Common Safekeeper) or to the relevant depositary for such other clearing system as shall have been agreed between the Issuer and the Fiscal Principal Paying Agent or, as the case may be, the Registrar and: (ai) instruct the clearing systems to whom (or to whose depositary or Common Safekeeper) such each relevant Global Covered Bond Bearer Note or Global Certificate has been delivered, to credit the underlying Covered Bonds Notes represented by such Global Covered Bond Bearer Note to the securities account(s) at such clearing systems that have been notified to the Fiscal Principal Paying Agent or, as the case may be, the Registrar by the Issuer, on a delivery against payment basis or, if specifically agreed between them, on a delivery free of payment basis;; and (bii) in the case of an NGCB NGN Temporary Global Covered Bond Note or an NGCB NGN Permanent Global Covered BondNote, or a Global Registered Covered Bond Certificate to be held under the NSS NSS, instruct the Common Safekeeper to effectuate the Global Covered Bond Bearer Note or Global Certificate to be held under the NSS (as the case may be) (provided that, if the Fiscal Principal Paying Agent is the Common Safekeeper, the Fiscal Principal Paying Agent shall effectuate the Global Covered BondBearer Note or Global Certificate to be held under the NSS (as the case may be); and).

Medium term note settlement procedures. in the case of a Tranche of Covered Bonds Notes, other than CMU Notes, which is not syndicated among two or more Dealers but which is intended to be cleared through a clearing system, on the Business Local Banking Day immediately preceding its Issue Date deliver the Global Covered Bonds Note to the relevant depositary for Euroclear and/or Clearstream, Luxembourg (which in the case of an NGCB NGN Temporary Global Covered Bond Note or an NGCB NGN Permanent Global Covered BondNote, or a Global Registered Covered Bond Note to be held under the NSS shall be a specified Common Safekeeper) or to the relevant depositary for such other clearing system as shall have been agreed between the Relevant Issuer and the Fiscal Principal Paying Agent ortogether, or as the case may be, the Registrar and: (a) instruct the clearing systems to whom (or to whose depositary or Common Safekeeper) such Global Covered Bond Note has been delivered, to credit the underlying Covered Bonds Notes represented by such Global Covered Bond Note to the securities account(s) at such clearing systems that have been notified to the Fiscal Agent orPrincipal Paying Agent, or as the case may be, the Registrar by the Relevant Issuer, on a delivery against payment basis or, if specifically agreed between them, on a delivery free of payment basis;; and (b) in the case of an NGCB NGN Temporary Global Covered Bond Note or an NGCB NGN Permanent Global Covered BondNote, or a Global Registered Covered Bond Note to be held under the NSS instruct the Common Safekeeper to effectuate the Global Covered Bond Note (provided that, if the Fiscal Principal Paying Agent is the Common Safekeeper, the Fiscal Principal Paying Agent shall effectuate the Global Covered BondNote); and

Medium term note settlement procedures. in the case of a Tranche or Series, as the case may be, of Covered Bonds Notes which is not syndicated among two or more Dealers but which is intended to be cleared through a clearing system, on the Business Local Banking Day immediately preceding its Issue Date deliver the each relevant Global Covered Bonds Note or Global Registered Note to the relevant depositary for Euroclear and/or Clearstream, Luxembourg (which in the case of an NGCB NGN Temporary Global Covered Bond Note or an NGCB NGN Permanent Global Covered Bond, Note or a Global Registered Covered Bond Note to be held under the NSS shall be a specified Common Safekeeper) or to the relevant depositary for such other clearing system as shall have been agreed between the relevant Issuer and the Fiscal Principal Paying Agent or, as the case may be, the Registrar and: (a) instruct the clearing systems to whom (or to whose depositary or Common Safekeeper) such each relevant Global Covered Bond Note or Global Registered Note has been delivered, to credit the underlying Covered Bonds Notes represented by such Global Covered Bond Note to the securities account(s) at such clearing systems that have been notified to the Fiscal Principal Paying Agent or, as the case may be, the Registrar by the relevant Issuer, on a delivery against payment basis or, if specifically agreed between them, on a delivery free of payment basis;; and (b) in the case of an NGCB NGN Temporary Global Covered Bond Note or an NGCB NGN Permanent Global Covered BondNote, or a Global Registered Covered Bond Note to be held under the NSS NSS, instruct the Common Safekeeper to effectuate the Global Covered Bond Note (provided that, if the Fiscal Principal Paying Agent is the Common Safekeeper, the Fiscal Principal Paying Agent shall effectuate the Global Covered BondNote); and.

Medium term note settlement procedures. in the case of a Tranche or Series, as the case may be, of Covered Bonds Notes which is not syndicated among two or more Dealers but which is intended to be cleared through a clearing system, on the Business Local Banking Day immediately preceding its Issue Date deliver the each relevant Global Covered Bonds Note or Global Registered Note to the relevant depositary for Euroclear and/or Clearstream, Luxembourg (which in the case of an NGCB NGN Temporary Global Covered Bond Note or an NGCB NGN Permanent Global Covered Bond, Note or a Global Registered Covered Bond Note to be held under the NSS shall be a specified Common Safekeeper) or to the relevant depositary for such other clearing system as shall have been agreed between the relevant Issuer and the Fiscal Principal Paying Agent or, as the case may be, the Registrar and: (a) instruct the clearing systems to whom (or to whose depositary or Common Safekeeper) such each relevant Global Covered Bond Note or Global Registered Note has been delivered, to credit the underlying Covered Bonds Notes represented by such Global Covered Bond Note or Global Registered Note to the securities account(s) at such clearing systems that have been notified to the Fiscal Principal Paying Agent or, as the case may be, the Registrar by the relevant Issuer, on a delivery against payment basis or, if specifically agreed between them, on a delivery free of payment basis;; and (b) in the case of an NGCB NGN Temporary Global Covered Bond Note or an NGCB NGN Permanent Global Covered BondNote, or a Global Registered Covered Bond Note to be held under the NSS NSS, instruct the Common Safekeeper to effectuate the Global Covered Bond Note or Global Registered Note (provided that, if the Fiscal Principal Paying Agent is the Common Safekeeper, the Fiscal Principal Paying Agent shall effectuate the Global Covered BondNote or Global Registered Note); and.