Common use of Decisions and Determinations Clause in Contracts

Decisions and Determinations. Any determination, decision or election that may be made by the Issuer or the Benchmark Transition Designee pursuant to this Condition 13.02(c)(ii), including any determination with respect to tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, in each case, solely with respect to any U.S. dollar denominated Floating Rate Covered Bonds calculated by reference to a USD Benchmark: (i) will be conclusive and binding absent manifest error; (ii) if made by the Issuer, will be made in the Issuer’s sole discretion; (iii) if made by the Benchmark Transition Designee, will be made after consultation with the Issuer, and the Benchmark Transition Designee will not make any such determination, decision or election to which the Issuer objects; and (iv) shall become effective without consent from any other party (including Covered Bondholders), except with respect to Secured Creditors as otherwise provided in this Condition 13.02(c)(ii). Any determination, decision or election pursuant to the benchmark replacement provisions not made by the Benchmark Transition Designee will be made by the Issuer on the basis as described above. The Benchmark Transition Designee shall have no liability for not making any such determination, decision or election absent bad faith or fraud.

Decisions and Determinations. Any determination, decision or election that may be made by the Issuer or the USD Benchmark Transition Designee pursuant to this Condition 13.02(c)(ii14(c)(ii), including without limitation any determination with respect to tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, in each case, solely with respect to any U.S. dollar denominated Floating Rate Covered Bonds calculated by reference to a USD Benchmark: (i) will be conclusive and binding absent manifest error; (ii) if made by the Issuer, will be made in the Issuer’s sole and absolute discretion; (iii) if made by the USD Benchmark Transition Designee, will be made after consultation with the Issuer, and the USD Benchmark Transition Designee will not make any such determination, decision or election to which the Issuer objects; and (iv) shall become effective without consent from any other party (including Covered Bondholders), except with respect to Secured Creditors as otherwise provided in this Condition 13.02(c)(ii14(c)(ii). Any determination, decision or election pursuant to the benchmark replacement provisions not made by the USD Benchmark Transition Designee will be made by the Issuer on the basis as described above. The USD Benchmark Transition Designee shall have no liability for not making any such determination, decision or election absent bad faith or fraud.

Decisions and Determinations. Any determination, decision or election that may be made by the Issuer or the SARON Benchmark Transition Designee pursuant to this Condition 13.02(c)(ii14(c)(iv), including without limitation any determination with respect to tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, in each case, solely with respect to any U.S. dollar denominated Floating Rate Covered Bonds calculated by reference to a USD SARON Benchmark: (i) will be conclusive and binding absent manifest error; (ii) if made by the Issuer, will be made in the Issuer’s sole and absolute discretion; (iii) if made by the SARON Benchmark Transition Designee, will be made after consultation with the Issuer, and the SARON Benchmark Transition Designee will not make any such determination, decision or election to which the Issuer objects; and (iv) shall become effective without consent from any other party (including Covered Bondholders), except with respect to Secured Creditors as otherwise provided in this Condition 13.02(c)(ii14(c)(iv). Any determination, decision or election pursuant to the benchmark replacement provisions not made by the SARON Benchmark Transition Designee will be made by the Issuer on the basis as described above. The SARON Benchmark Transition Designee shall have no liability for not making any such determination, decision or election absent bad faith or fraud.

Decisions and Determinations. Any determination, decision or election that may be made by the Issuer or the CAD Benchmark Transition Designee pursuant to this Condition 13.02(c)(ii14(c)(iii), including without limitation any determination with respect to tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, in each case, solely with respect to any U.S. CAD dollar denominated Floating Rate Covered Bonds calculated by reference to a USD CAD Benchmark: (i) will be conclusive and binding absent manifest error; (ii) if made by the Issuer, will be made in the Issuer’s sole and absolute discretion; (iii) if made by the CAD Benchmark Transition Designee, will be made after consultation with the Issuer, and the CAD Benchmark Transition Designee will not make any such determination, decision or election to which the Issuer objects; and (iv) shall become effective without consent from any other party (including Covered Bondholders), except with respect to Secured Creditors as otherwise provided in this Condition 13.02(c)(ii14(c)(iii). Any determination, decision or election pursuant to the benchmark replacement provisions not made by the CAD Benchmark Transition Designee will be made by the Issuer on the basis as described above. The CAD Benchmark Transition Designee shall have no liability for not making any such determination, decision or election absent bad faith or fraud.

Decisions and Determinations. Any determination, decision or election that may be made by the Issuer or the Benchmark Transition Designee pursuant to this Condition 13.02(c)(ii), including any determination with respect to tenor, rate or adjustment or of the occurrence or non-non- occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, in each case, solely with respect to any U.S. dollar denominated Floating Rate Covered Bonds calculated by reference to a USD Benchmark: (i) will be conclusive and binding absent manifest error; (ii) if made by the Issuer, will be made in the Issuer’s sole discretion; (iii) if made by the Benchmark Transition Designee, will be made after consultation with the Issuer, and the Benchmark Transition Designee will not make any such determination, decision or election to which the Issuer objects; and (iv) shall become effective without consent from any other party (including Covered Bondholders), except with respect to Secured Creditors as otherwise provided in this Condition 13.02(c)(ii). Any determination, decision or election pursuant to the benchmark replacement provisions not made by the Benchmark Transition Designee will be made by the Issuer on the basis as described above. The Benchmark Transition Designee shall have no liability for not making any such determination, decision or election absent bad faith or fraud.