Common use of Cancellation of mutilated or defaced Covered Bonds Clause in Contracts

Cancellation of mutilated or defaced Covered Bonds. The Replacement Agent shall cancel each mutilated or defaced Temporary Global Covered Bond, Permanent Global Covered Bond, Definitive Covered Bond, Coupon, Global Registered Covered Bond or Individual Covered Bond Certificate surrendered to it and in respect of which a replacement has been delivered.