Common use of COMPLIANCE WITH ASSET COVER TEST AND AMORTISATION TEST Clause in Contracts

COMPLIANCE WITH ASSET COVER TEST AND AMORTISATION TEST. 4.1 The Administrator shall on behalf of the CBC conduct the Asset Cover Test, the Amortisation Test and the Mandatory Liquidity Test and calculate the Reserve Account Required Amount and where required give any and all related notices, with a copy to the CBC, all in accordance with the Asset Monitoring Agreement. 4.2 The Administrator agrees to prepare monthly asset cover reports for the CBC including the relevant calculations in respect of the Asset Cover Test or the Amortisation Test (each an "Asset Cover Report"). Each Asset Cover Report will be included in the Investor Report. 4.3 Upon each issue of Covered Bonds under the Programme, the Administrator shall on behalf of the CBC assess whether such issue of Covered Bonds will result in a breach of the Asset Cover Test at the end of the calendar month in which such Covered Bonds are issued and where required give any and all related notices, with a copy to the CBC, for the purpose of Clause 3.2(j) of the Programme Agreement. 4.4 The Administrator shall on behalf of the CBC value any Transferred Collateral other than cash on a monthly basis on their xxxx-to-market value, as set out in Clause 3.4 of the Asset Monitoring Agreement. 4.5 The Administrator shall on behalf of the CBC provide the Asset Monitor with the information described in Clause 4.1 or, as applicable, Clause 4.2 of the Asset Monitor Appointment Agreement, all in accordance with the Asset Monitor Appointment Agreement.

COMPLIANCE WITH ASSET COVER TEST AND AMORTISATION TEST. 4.1 The Administrator shall on behalf of the CBC conduct the Asset Cover Test, the Amortisation Test and the Mandatory Liquidity Test and calculate the Reserve Account Required Amount and where required give any and all related notices, with a copy to the CBC, all in accordance with the Asset Monitoring Agreement. 4.2 The Administrator agrees to prepare monthly asset cover reports for the CBC including the relevant calculations in respect of the Asset Cover Test or the Amortisation Test (each an "Asset Cover Report"). Each Asset Cover Report will be included in the Investor Report. 4.3 Upon each issue of Covered Bonds under the Programme, the Administrator shall on behalf of the CBC assess whether such issue of Covered Bonds will result in a breach of the Asset Cover Test at the end of the calendar month in which such Covered Bonds are issued and where required give any and all related notices, with a copy to the CBC, for the purpose of Clause 3.2(j) of the Programme Agreement. 4.4 The Administrator shall on behalf of the CBC value any Transferred Collateral other than cash on a monthly basis on their xxxxmark-to-market value, as set out in Clause 3.4 of the Asset Monitoring Agreement. 4.5 The Administrator shall on behalf of the CBC provide the Asset Monitor with the information described in Clause 4.1 or, as applicable, Clause 4.2 of the Asset Monitor Appointment Agreement, all in accordance with the Asset Monitor Appointment Agreement.

COMPLIANCE WITH ASSET COVER TEST AND AMORTISATION TEST. 4.1 The Administrator shall on behalf of the CBC conduct the Asset Cover Test, the Amortisation Test and the Mandatory Liquidity Test and calculate the Reserve Account Required Amount and where required give any and all related notices, with a copy to the CBC, all in accordance with the Asset Monitoring Agreement. 4.2 The Administrator agrees to prepare monthly asset cover reports for the CBC including the relevant calculations in respect of the Asset Cover Test or the Amortisation Test (each an "Asset Cover Report"). Each Asset Cover Report will be included in the Investor Report. 4.3 Upon each issue of Covered Bonds under the Programme, the Administrator shall on behalf of the CBC assess whether such issue of Covered Bonds will result in a breach of the Asset Cover Test at the end of the calendar month in which such Covered Bonds are issued and where required give any and all related notices, with a copy to the CBC, for the purpose of Clause 3.2(j) of the Programme Agreement. 4.4 The Administrator shall on behalf of the CBC value any Transferred 53108111 M 56155777 / 2 Collateral other than cash on a monthly basis on their xxxxmark-to-market value, as set out in Clause 3.4 of the Asset Monitoring Agreement. 4.5 The Administrator shall on behalf of the CBC provide the Asset Monitor with the information described in Clause 4.1 or, as applicable, Clause 4.2 of the Asset Monitor Appointment Agreement, all in accordance with the Asset Monitor Appointment Agreement.

COMPLIANCE WITH ASSET COVER TEST AND AMORTISATION TEST. 4.1 The Administrator shall on behalf of the CBC conduct the Asset Cover Test, the Amortisation Test and the Mandatory Liquidity Test and calculate the Reserve Account Required Amount and where required give any and all related notices, with a copy to the CBC, all in accordance with the Asset Monitoring Agreement.. 53106437 M 55004908 / 3 4.2 The Administrator agrees to prepare monthly asset cover reports for the CBC including the relevant calculations in respect of the Asset Cover Test or the Amortisation Test (each an "Asset Cover Report"). Each Asset Cover Report will be included in the Investor Report. 4.3 Upon each issue of Covered Bonds under the Programme, the Administrator shall on behalf of the CBC assess whether such issue of Covered Bonds will result in a breach of the Asset Cover Test at the end of the calendar month in which such Covered Bonds are issued and where required give any and all related notices, with a copy to the CBC, for the purpose of Clause 3.2(j) of the Programme Agreement. 4.4 The Administrator shall on behalf of the CBC value any Transferred Collateral other than cash on a monthly basis on their xxxxmark-to-market value, as set out in Clause 3.4 of the Asset Monitoring Agreement. 4.5 The Administrator shall on behalf of the CBC provide the Asset Monitor with the information described in Clause 4.1 or, as applicable, Clause 4.2 of the Asset Monitor Appointment Agreement, all in accordance with the Asset Monitor Appointment Agreement.