Common use of No obligation to monitor performance Clause in Contracts

No obligation to monitor performance. The Common Representative shall be under no obligation to monitor or supervise the performance by the Issuer or any other party to any Programme Document of its respective obligations under the Programme Documents or under the Covered Bonds, or any other Programme Document and shall be entitled, in the absence of actual knowledge of a breach of obligation, to assume that each such person is properly performing and complying with its obligations;

No obligation to monitor performance. The Common Representative shall be under no obligation to monitor or supervise the performance by the Issuer or any other party to any Programme Document of its respective obligations under the Programme Documents or under the Covered Bonds, Bonds or any other Programme Document and shall be entitled, in the absence of actual knowledge of a breach of obligation, to assume that each such person is properly performing and complying with its obligations;.

No obligation to monitor performance. The the Common Representative shall be under no obligation to monitor or supervise the performance by the Issuer or any other party to any Programme Document of its respective obligations under the Programme Documents or under the Covered Bonds, Coupons or Receipts (if applicable) or any other Programme Document and shall be entitled, in the absence of actual knowledge of a breach of obligation, to assume that each such person the Issuer is properly performing and complying with its obligations;

No obligation to monitor performance. The the Common Representative shall be under no obligation to monitor or supervise the performance by the Issuer or any other party to any Programme Document of its respective obligations under the Programme Documents Agreement or under the Covered Bonds, Bonds or any other Programme Document Documents, and shall be entitled, in the absence of actual knowledge of a breach of obligation, to assume that each such person the Issuer is properly performing and complying with its obligations;