Common use of Passporting Clause in Contracts

Passporting. If, in relation to any issue of Notes, the Issuer has agreed with the relevant Dealer(s) that the home Member State that approved the Base Prospectus will be requested to provide a certificate of approval to the competent authority of one or more host Member State(s) under Article 24 and Article 25 of the Prospectus Regulation then the arrangements relating to such request will be agreed between the Issuer and the relevant Dealer(s) at the relevant time. In any such case, the Issuer undertakes that it will use all reasonable endeavours to procure the delivery of a certificate of approval by the CSSF to the competent authority in any host Member State and the European Securities and Markets Authority in accordance with Article 24 and Article 25 of the Prospectus Regulation and shall promptly notify each Dealer following receipt by the Issuer of confirmation that such certificate of approval has been so delivered.

Passporting. If, in relation to any issue of NotesNotes or Covered Bonds, the Issuer has agreed with the relevant Dealer(s) that the home Member State that which approved the Base Prospectus will be requested to provide a certificate of approval to the competent authority of one or more host Member State(s) under Article 24 and Article 25 of the Prospectus Regulation then the arrangements relating to such request will be agreed between the Issuer and the relevant Dealer(s) at the relevant time. In any such case, the Issuer undertakes that it will use all reasonable endeavours to procure the delivery of a certificate of approval by the CSSF to the competent authority in any host Member State and the European Securities and Markets Authority in accordance with Article 24 and Article 25 of the Prospectus Regulation and shall promptly notify each Dealer following receipt by the Issuer of confirmation that such certificate of approval has been so delivered.