Common use of No deposit-taking Clause in Contracts

No deposit-taking. in relation to any Notes which must be redeemed before the first anniversary of the date of their issue: (i) it is a person whose ordinary activities involve it in acquiring, holding, managing or disposing of investments (as principal or agent) for the purposes of its business; and (ii) it has not offered or sold and will not offer or sell any Instruments other than to persons: (A) whose ordinary activities involve them in acquiring, holding, managing or disposing of investments (as principal or agent) for the purposes of their businesses; or (B) who it is reasonable to expect will acquire, hold, manage or dispose of investments (as principal or agent) for the purposes of their businesses, where the issue of the Notes would otherwise constitute a contravention of section 19 of the U.K. Financial Services and Markets A▇▇ ▇▇▇▇ (“FSMA”) by NIB.