Common use of Issuer Covenants Clause in Contracts

Issuer Covenants. (i) Maintenance of the Issuer Cover Pool: For so long as the Covered Bonds are outstanding, the Value (as defined below) of the Issuer Cover Pool (as defined below) will at all times exceed 105 per cent. of the outstanding principal amount of the Covered Bonds issued under the Issuer’s €60,000,000,000 European Covered Bond (Premium) Programme and any other mortgage covered bonds of the Issuer in issue at such time.

Issuer Covenants. (i) Maintenance of the Issuer Cover Pool: For so long as the Covered Bonds are outstanding, the Value (as defined below) of the Issuer Cover Pool (as defined below) will at all times exceed 105 102 per cent. of the outstanding principal amount of the Covered Bonds issued under the Issuer’s €60,000,000,000 European Covered Bond (Premium) Programme and any other mortgage covered bonds of the Issuer in issue at such time.

Issuer Covenants. (i) Maintenance of the Issuer Cover Pool: For so long as the Covered Bonds are outstanding, the Value (as defined below) of the Issuer Cover Pool (as defined below) will at all times exceed 105 per cent. of the outstanding principal amount of the Covered Bonds issued under the Issuer’s €60,000,000,000 European Covered Bond (Premium) Programme and any other mortgage covered bonds of the Issuer in issue at such time.