Product Governance Rules. Solely for the purposes of the requirements of Article 9(8) of the MiFID II Product Governance rules under EU Delegated Directive 2017/593 (the “Product Governance Rules”) regarding the mutual responsibilities of manufacturers under the Product Governance Rules, each of Crédit Agricole Corporate and Investment Bank, X.X. Xxxxxx Securities plc, and Société Générale (each a “Manufacturer” and together “the Manufacturers”) acknowledges to each other Manufacturer that it understands the responsibilities conferred upon it under the Product Governance Rules relating to each of the product approval process, the target market and the proposed distribution channels as applying to the Notes and the related information set out in the Disclosure Package and the Final Prospectus in connection with the Notes. The Underwriters note the application of the Product Governance Rules and acknowledge the target market and distribution channels identified as applying to the Notes by the Manufacturers and the related information set out in the Disclosure Package and the Final Prospectus in connection with the Notes.
Product Governance Rules. 7.1 EEA MiFID II Product Governance Rules Solely for the purposes of the requirements of Article 9(8) of the MiFID Product Governance rules under EU Delegated Directive 2017/593 (the “Product Governance Rules”) regarding the mutual responsibilities of manufacturers under the Product Governance Rules:
(a) each of [insert names of Manager(s) who is/are deemed to be MiFID manufacturer(s)] (each a “Manufacturer” and together “the Manufacturers”) acknowledges to each other Manufacturer that it understands the responsibilities conferred upon it under the Product Governance Rules relating to each of the product approval process, the target market and the proposed distribution channels as applying to the Notes and the related information set out in the Final Terms in connection with the Notes; and
(b) [insert name(s) of Manager(s) who is/are not deemed to be MiFID manufacturer(s) if any] [and] [,] the Issuer note[s] the application of the Product Governance Rules and acknowledge[s] the target market and distribution channels identified as applying to the Notes by the Manufacturer[s] and the related information set out in the Final Terms in connection with the Notes.
7.2 [UK MiFIR Product Governance Rules Solely for the purposes of the requirements of 3.2.7R of the FCA Handbook Product Intervention and Product Governance Sourcebook (the “UK MiFIR Product Governance Rules”) regarding the mutual responsibilities of manufacturers under the UK MiFIR Product Governance Rules:
(a) [each of] [insert names of Manager(s) who is/are deemed to be UK MiFIR manufacturer(s)] ([each a][the] “UK Manufacturer” [and together the “UK Manufacturers”]) [acknowledges to each other UK Manufacturer that it] understands the responsibilities conferred upon it under the UK MiFIR Product Governance Rules relating to each of the product approval process, the target market and the proposed distribution channels as applying to the Notes and the related information set out in the Final Terms in connection with the Notes; and
(b) [insert name(s) of Manager(s) who is/are not deemed to be UK MiFIR manufacturer(s) if any] [and] [,] the Issuer note[s] the application of the UK MiFIR Product Governance Rules and acknowledge[s] the target market and distribution channels identified as applying to the Notes by the UK Manufacturer[s] and the related information set out in the Final Terms in connection with the Notes.]
Product Governance Rules. Solely for the purposes of the requirements of Article 9(8) of the MiFID Product Governance rules under EU Delegated Directive 2017/593 as implemented into the laws of the relevant member state (the “Product Governance Rules”) regarding the mutual responsibilities of manufacturers under the Product Governance Rules:
(i) the Bank (the “Manufacturer”) acknowledges that it understands the responsibilities conferred upon it under the Product Governance Rules relating to each of the product approval process, the target market and the proposed distribution channels as applying to the Notes and the related information set out in the Prospectus and announcements in connection with the Notes; and
(ii) each of the Managers notes the application of the Product Governance Rules and acknowledges the target market and distribution channels identified as applying to the Notes by the Manufacturer and the related information set out in the Prospectus and announcements in connection with the Notes.
Product Governance Rules. Solely for the purposes of the requirements of Article 9(8) of the MIFID Product Governance rules under EU Delegated Directive 2017/593 (the “Product Governance Rules”) regarding the mutual responsibilities of manufacturers under the Product Governance Rules:
a. Each of BofA Securities Europe SA and Wxxxx Fargo Securities Europe S.A., (each a “Manufacturer” and together “the Manufacturers”) acknowledges to each other Manufacturer that it understands the responsibilities conferred upon it under the Product Governance Rules relating to each of the product approval process, the target market and the proposed distribution channels as applying to the Notes and the related information set out in the Preliminary Prospectus or the Prospectus and any announcements in connection with the Notes; and
b. the Company, the Guarantor, Bank of Montreal Europe PLC, RBC Europe Limited, Scotiabank Europe plc and Stifel Europe Bank AG note the application of the Product Governance Rules and acknowledge the target market and distribution channels identified as applying to the Notes by the Manufacturers and the related information set out in the Preliminary Prospectus or the Prospectus and any announcement in connection with the Notes.
Product Governance Rules. 16.1 Within the context of each issue of Notes, each Dealer consents to it being determined whether a Dealer who subscribes to Notes is a developer in respect of those Notes, with due observance of Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593. This determination shall be set out in the Confirmation associated with that issue. A Dealer is exclusively a developer under the Product Governance Rules if this fact is demonstrated in the Confirmation.
16.2 Solely with a view to the requirements of Article 9(8) of Commission Delegated Directive (EU) 2017/593 (the “Manufacturer Product Governance Rules”):
a. the Arranger and the Dealer(s) that is/are a developer in respect of specific Notes (each a ’Manufacturer’ and both the ’Manufacturers’) acknowledge towards each other that they understand the responsibilities imposed on them under the Manufacturer Product Governance Rules in respect of the product approval process, the target market and the proposed distribution channels as being applicable to those Notes and the related information, as set out in the Information Memorandum;
b. the Issuer and the Dealers acknowledge that they are aware of the applicability of the Manufacturer Product Governance Rules, and acknowledge the target market and distribution channels as identified by the 01042019 Our reference JZ/2483432/da Manufacturer(s) as being applicable to the Notes and the related information, as set out in the Information Memorandum.
16.3 Each Dealer shall provide to the Manufacturer(s) information on the sale of the Notes and on the evaluations of the Notes, the services provided and the product approval process with respect to the Notes that the Dealer offers or recommends, in accordance with the Product Governance Rules.
Product Governance Rules. Solely for the purposes of the requirements of Article 9(8) of the MIFID Product Governance rules under EU Delegated Directive 2017/593 (the “Product Governance Rules”) regarding the mutual responsibilities of manufacturers under the Product Governance Rules (i) each manufacturer acknowledges to each other manufacturer that it understands the
Product Governance Rules. Solely for the purposes of the requirements of Article 9(8) of the MiFID Product Governance rules under EU Delegated Directive 2017/593 (the “Product Governance Rules”) regarding the mutual responsibilities of manufacturers under the Product Governance Rules:
(a) each of BNP Paribas, X.X. Xxxxxx Securities plc, MUFG Securities EMEA plc and SMBC Nikko Capital Markets Limited (each, a “Manufacturer” and, together, the “Manufacturers”) acknowledges to each other Manufacturer it understands the responsibilities conferred upon it under the Product Governance Rules relating to each of the product approval process, the target market and the proposed distribution channels as applying to the Securities and the related information set out in the Registration Statement, any Preliminary Prospectus, the Disclosure Package, the Final Prospectus or any such amendment or supplement, each in connection with the Securities; and
(b) the Underwriters (other than the Manufacturers) and the Company note the application of the Product Governance Rules and acknowledge the target market and proposed distribution channels identified as applying to the Securities by the Manufacturers and the related information set out in the Registration Statement, any Preliminary Prospectus, the Disclosure Package, the Final Prospectus or any such amendment or supplement, each in connection with the Securities.
Product Governance Rules. Solely for the purposes of the requirements of 3.2.7R of the FCA Handbook Product Intervention and Product Governance Sourcebook (the “UK MiFIR Product Governance Rules”) regarding the mutual responsibilities of manufacturers under the UK MiFIR Product Governance Rules: (a) each of Barclays Bank PLC, Xxxxxxx Xxxxx & Co. LLC, X.X. Xxxxxx Securities plc and Xxxxxxx Xxxxx International (each a “UK Manufacturer” and together, the “UK Manufacturers”) acknowledge to each other UK Manufacturer that it understands the responsibilities conferred upon it under the UK MiFIR Product Governance Rules relating to each of the product approval process, the target market and the proposed distribution channels as applying to the Securities and the related information set out in the Prospectus in connection with the Securities; and (b) the Underwriters, the Issuers and MPT note the application of the UK MiFIR Product Governance Rules and acknowledge the target market and distribution channels identified as applying to the Securities by the UK Manufacturers and the related information set out in the Prospectus in connection with the Securities.
Product Governance Rules. Solely for the purposes of the requirements of Article 9(8) of the MIFID Product Governance rules under EU Delegated Directive 2017/593 (the “Product Governance Rules”) regarding the mutual responsibilities of manufacturers under the Product Governance Rules:
(a) each of Barclays Bank PLC and BNP Paribas (each a “Manufacturer” and together “the Manufacturers”) acknowledges to each other Manufacturer that it understands the responsibilities conferred upon it under the Product Governance Rules relating to each of the product approval process, the target market and the proposed distribution channels as applying to the Securities and the related information set out in the Prospectus in connection with the Securities; and
(b) the Underwriters and the Company note the application of the Product Governance Rules and acknowledge the target market and distribution channels identified as applying to the Securities by the Manufacturers and the related information set out in the Prospectus in connection with the Securities.
Product Governance Rules. Solely for the purposes of the requirements of Article 9(8) of the MIFID Product Governance rules under EU Delegated Directive 2017/593 (the "Product Governance Rules") regarding the mutual responsibilities of manufacturers under the Product Governance Rules:
(a) each of VW Bank and the Lead Manager (each a "Co-Manufacturer" and together the "Manufacturers") acknowledges that it understands the responsibilities conferred upon it under the Product Governance Rules relating to each of the product approval process, the target market and the proposed distribution channels as applying to the Notes and the related information set out in the Offering Circular in connection with the Notes; and
(b) the Issuer and VWFS note the application of the Product Governance Rules and acknowledge the target market and distribution channels identified as applying to the Notes by the Manufacturers and the related information set out in the Offering Circular in connection with the Notes.
