Common use of Appointment of Dealers Clause in Contracts

Appointment of Dealers. 2.1 Subject to the terms and conditions stated herein and to the reservation by the Bank of the right to sell Covered Bonds directly on its own behalf, the Bank hereby (a) appoints each Dealer as an agent of the Bank for the purpose of soliciting and receiving offers to purchase Covered Bonds from the Bank when and as instructed by the Bank pursuant to Section 5.1 hereof and (b) agrees that, except as otherwise contemplated herein, whenever it determines to sell Covered Bonds directly to any Dealer as principal, it will enter into a separate agreement (each a Subscription Agreement), substantially in the form of Annex 1 hereto or in such other form as may be agreed by the parties to that particular agreement, relating to such sale in accordance with Section 5.2 hereof. This Agreement shall not be construed to create either an obligation on the part of the Bank to sell any Covered Bonds or an obligation of any of the Dealers to purchase Covered Bonds as principal. 2.2 The Bank acknowledges and agrees that the Dealers may use the Preliminary Prospectus and the Prospectus in connection with offers and sales of the Covered Bonds in market-making transactions as contemplated in the Programme Prospectus, under the caption "Plan of Distribution" (Secondary Market Transactions). The Bank further acknowledges and agrees that the Dealers are under no obligation to effect any Secondary Market Transactions and, if they do so, they may discontinue effecting such transactions at any time without providing any notice to the Bank. 2.3 The Covered Bonds will be issued under an amended and restated trust deed dated as of July 31, 2015 (the Trust Deed), between the Issuer, the Guarantor LP and the Bond Trustee. The Covered Bonds shall have such terms, including the right (if any) to repayment of principal, the right (if any) to payment of interest, redemption provisions (if any) and other terms set forth in the Prospectus. The Covered Bonds will be issued, and the terms and rights thereof established, from time to time by the Issuer in accordance with the Trust Deed.

Appointment of Dealers. 2.1 Subject to the terms and conditions stated herein and to the reservation by the Bank of the right to sell Covered Bonds directly on its own behalf, the Bank hereby (a) appoints each Dealer as an agent of the Bank for the purpose of soliciting and receiving offers to purchase Covered Bonds from the Bank when and as instructed by the Bank pursuant to Section 5.1 ‎5.1 hereof and (b) agrees that, except as otherwise contemplated herein, whenever it determines to sell Covered Bonds directly to any Dealer as principal, it will enter into a separate agreement (each a Subscription Agreement), substantially in the form of Annex ‎Annex 1 hereto or in such other form as may be agreed by the parties to that particular agreement, relating to such sale in accordance with Section 5.2 ‎5.2 hereof. This Agreement shall not be construed to create either an obligation on the part of the Bank to sell any Covered Bonds or an obligation of any of the Dealers to purchase Covered Bonds as principal. 2.2 The Bank acknowledges and agrees that the Dealers may use the Preliminary Prospectus and the Prospectus in connection with offers and sales of the Covered Bonds in market-making transactions as contemplated in the Programme Prospectus, under the caption "Plan of Distribution" (Secondary Market Transactions). The Bank further acknowledges and agrees that the Dealers are under no obligation to effect any Secondary Market Transactions and, if they do so, they may discontinue effecting such transactions at any time without providing any notice to the Bank. 2.3 The Covered Bonds will be issued under an amended and restated trust deed dated as of July 31June 29, 2015 2012 (the Trust Deed), between the Issuer, the Guarantor LP and the Bond Trustee. The Covered Bonds shall have such terms, including the right (if any) to repayment of principal, the right (if any) to payment of interest, redemption provisions (if any) and other terms set forth in the Prospectus. The Covered Bonds will be issued, and the terms and rights thereof established, from time to time by the Issuer in accordance with the Trust Deed.

Appointment of Dealers. 2.1 Subject to the terms and conditions stated herein and to the reservation by the Bank of the right to sell Covered Bonds directly on its own behalf, the Bank hereby (a) appoints each Dealer as an agent of the Bank for the purpose of soliciting and receiving offers to purchase Covered Bonds from the Bank when and as instructed by the Bank pursuant to Section 5.1 hereof and (b) agrees that, except as otherwise contemplated herein, whenever it determines to sell Covered Bonds directly to any Dealer as principal, it will enter into a separate agreement (each a Subscription Agreement), substantially in the form of Annex 1 hereto or in such other form as may be agreed by the parties to that particular agreement, relating to such sale in accordance with Section 5.2 hereof. This Agreement shall not be construed to create either an obligation on the part of the Bank to sell any Covered Bonds or an obligation of any of the Dealers to purchase Covered Bonds as principal. 2.2 The Bank acknowledges and agrees that the Dealers may use the Preliminary Prospectus and the Prospectus in connection with offers and sales of the Covered Bonds in market-making transactions as contemplated in the Programme Prospectus, under the caption "Plan of Distribution" (Secondary Market Transactions). The Bank further acknowledges and agrees that the Dealers are under no obligation to effect any Secondary Market Transactions and, if they do so, they may discontinue effecting such transactions at any time without providing any notice to the Bank. 2.3 The Covered Bonds will be issued under an amended and restated trust deed dated as of July 31June 24, 2015 2013 (the Trust Deed), between the Issuer, the Guarantor LP and the Bond Trustee. The Covered Bonds shall have such terms, including the right (if any) to repayment of principal, the right (if any) to payment of interest, redemption provisions (if any) and other terms set forth in the Prospectus. The Covered Bonds will be issued, and the terms and rights thereof established, from time to time by the Issuer in accordance with the Trust Deed.