Common use of Subscription and Sale Clause in Contracts

Subscription and Sale. According to the terms of a placement agreement which was executed prior to the beginning of the Subscription Period (the Placement Agreement), Bank Degroof NV/SA and Belfius Bank NV/SA (in their capacity as Joint Lead Managers) have agreed with the Issuer, subject to certain terms and conditions, to place the Bonds with third parties, without a firm commitment on the amount, at the price and according to the terms and conditions specified below. The Placement Agreement entitled the Joint Lead Managers to terminate their obligations under certain conditions. This solely provided for rights and obligations of the Issuer and the Joint Lead Managers, and the Bondholders cannot derive any right, directly or indirectly, from the Issuer or the Joint Lead Managers. Bank Degroof NV/SA (in its capacity as Agent) and the Issuer have also entered into the Agency Agreement, the terms and conditions of which specify the modalities of the creation of the Bonds at the Issue Date, and the payment of the interest due in respect of the Bonds.

Subscription and Sale. ‌ According to the terms of a placement agreement which was executed prior to the beginning of the Subscription Period (the Placement Agreement), Bank Degroof NV/SA and Belfius Bank NV/SA (in their capacity as Joint Lead Managers) have agreed with the Issuer, subject to certain terms and conditions, to place the Bonds with third parties, without a firm commitment on the amount, at the price and according to the terms and conditions specified below. The Placement Agreement entitled the Joint Lead Managers to terminate their obligations under certain conditions. This solely provided for rights and obligations of the Issuer and the Joint Lead Managers, and the Bondholders cannot derive any right, directly or indirectly, from the Issuer or the Joint Lead Managers. Bank Degroof NV/SA (in its capacity as Agent) and the Issuer have also entered into the Agency Agreement, the terms and conditions of which specify the modalities of the creation of the Bonds at the Issue Date, and the payment of the interest due in respect of the Bonds.