Common use of Subscription of the Covered Bonds Clause in Contracts

Subscription of the Covered Bonds. (a) The Issuer hereby agrees to issue and sell the Covered Bonds in accordance with the provisions of the Dealership Agreement as supplemented and amended by this Agreement and the Agency Agreement and the Managers severally and not jointly agree with the Issuer to subscribe for the [Covered Bonds] [percentage of the principal amount of Covered Bonds opposite their respective names set forth in Annex 1 attached hereto and made a part hereof] in same day funds on [ ] or such other date not being later than [ ] as shall be agreed by the Issuer and the Lead Manager(s) acting on behalf of the Managers (the “Issue Date”) at their issue price of [ ] per cent. of their principal amount plus (if the Issue Date is postponed) any accrued interest in respect thereof, [less a selling commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) less a combined management and underwriting commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) and less the amount which the Issuer has agreed to pay to the Lead Manager(s) in respect of certain expenses pursuant to Clause [5/6] below (each of which the Issuer agrees to pay to the Lead Manager(s) on behalf of the Managers and authorizes the deduction thereof from the subscription moneys payable to the Issuer on the Issue Date), against delivery of the Covered Bonds, duly executed on behalf of the Issuer in the manner contemplated by the Agency Agreement, in the form agreed between the Issuer and the Lead Manager(s) (on behalf of the Managers).

Subscription of the Covered Bonds. (a) The Issuer hereby agrees to issue and sell the Covered Bonds in accordance with the provisions of this Agreement, the Dealership Agreement as supplemented and amended by this Agreement and the Agency Agreement and the Managers severally and not jointly agree with the Issuer on the basis of the representations, warranties and agreements herein contained and subject to the terms and conditions set forth herein to subscribe for the [Covered Bonds] [percentage of the principal amount of Covered Bonds opposite their respective names set forth in Annex 1 I attached hereto and made a part hereof] hereof in same day funds on [ ] or such other date not being later than [ ] as shall be agreed by the Issuer and the Lead Manager(s) Managers acting on behalf of the Managers (the “Issue Date”) at their issue price of [ ] per cent. cent of their principal amount plus (if the Issue Date is postponed) any accrued interest in respect thereof, [less a selling commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) less a combined management and underwriting commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) and less the amount Bonds, which the Issuer has agreed to pay to the Lead Manager(s) in respect of certain expenses pursuant to Clause [5/6] below (each of which the Issuer agrees to pay to the Lead Manager(s) on behalf of the Managers and authorizes the deduction thereof from the subscription moneys payable to the Issuer on the Issue Date), against delivery of the Covered Bonds, duly executed on behalf of the Issuer in the manner contemplated by the Agency Agreement, in the form agreed between the Issuer and the Lead Manager(s) Managers (on behalf of the Managers).

Subscription of the Covered Bonds. (a) The Issuer hereby agrees to issue and sell the Covered Bonds in accordance with the provisions of this Agreement, the Dealership Agreement as supplemented and amended by this Agreement and the Agency Agreement and the Managers jointly and severally and not jointly agree with the Issuer to subscribe for the [Covered Bonds] [percentage of the principal amount of Covered Bonds opposite their respective names set forth in Annex 1 attached hereto and made a part hereof] in same day funds on [ ] or such other date not being later than [ ] as shall be agreed by the Issuer and the Lead Manager(s) Manager acting on behalf of the Managers (the “Issue Date”) at their a purchase price (the “Purchase Price”) equal to the issue price of [ ] per cent. of their principal amount plus (if the Issue Date is postponed) any accrued interest in respect thereof, [less a selling commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) less and a combined management and underwriting commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) and less the amount which the Issuer has agreed to pay to the Lead Manager(s) Manager in respect of certain expenses pursuant to Clause Section [5/6] below (each of which the Issuer agrees to pay to the Managers [or, as the case may be, the Lead Manager(s) on behalf of the Managers Manager]] and authorizes the deduction thereof from the subscription moneys payable to the Issuer on the Issue Date), against delivery of the Covered Bonds, duly executed on behalf of the Issuer in the manner contemplated by the Agency Agreement, in the form agreed between the Issuer and the Lead Manager(s) Manager (on behalf of the Managers). [As between themselves, the Managers’ respective underwriting commitments are set out in Appendix I hereto and the management and underwriting commission is to be shared in proportion to their underwriting commitments.]

Subscription of the Covered Bonds. (a) The Issuer hereby agrees to issue and sell the Covered Bonds in accordance with the provisions of this Agreement, the Dealership Agreement as supplemented and amended by this Agreement and the Agency Agreement and the Managers [severally and not jointly jointly][jointly and severally] agree with the Issuer to subscribe for the [Covered Bonds] [percentage of the principal amount of Covered Bonds opposite their respective names set forth in Annex 1 attached hereto and made a part hereof] in same day funds on [ ] or such other date not being later than [ ] as shall be agreed by the Issuer and the Lead Manager(s) Manager acting on behalf of the Managers (the “Issue Date”) at their issue price of [ ] per cent. of their principal amount plus (if the Issue Date is postponed) any accrued interest in respect thereof, [less a selling commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) less and a combined management and underwriting commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) and less the amount which the Issuer has agreed to pay to the Lead Manager(s) Manager in respect of certain expenses pursuant to Clause [5/6] below (each of which the Issuer agrees to pay to the Managers [or, as the case may be, the Lead Manager(s) on behalf of the Managers Manager] and authorizes the deduction thereof from the subscription moneys payable to the Issuer on the Issue Date), against delivery of the Covered Bonds, duly executed on behalf of the Issuer in the manner contemplated by the Agency Agreement, in the form agreed between the Issuer and the Lead Manager(s) Manager (on behalf of the Managers). [The respective underwriting commitments of the Managers are set forth opposite their respective names in Xxxxx X hereto.]

Subscription of the Covered Bonds. (a) The Issuer hereby agrees to issue and sell the Covered Bonds in accordance with the provisions of this Agreement, the Dealership Agreement as supplemented and amended by this Agreement and the Agency Agreement and the Managers jointly and severally and not jointly agree with the Issuer to subscribe for the [Covered Bonds] [percentage of the principal amount of Covered Bonds opposite their respective names set forth in Annex 1 attached hereto and made a part hereof] in same day funds on [ ] or such other date not being later than [ ] as shall be agreed by the Issuer and the Lead Manager(s) Manager acting on behalf of the Managers (the “Issue Date”) at their issue price of [ ] per cent. of their principal amount plus (if the Issue Date is postponed) any accrued interest in respect thereof, [less [a selling commission concession of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) less and] [a combined management and underwriting commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) )] [and less the amount which the Issuer has agreed to pay to the Lead Manager(s) Manager in respect of certain expenses pursuant to Clause [5/6] below (each of which the Issuer agrees to pay to the Managers [or, as the case may be, the Lead Manager(s) on behalf of the Managers Manager] and authorizes the deduction thereof from the subscription moneys payable to the Issuer on the Issue Date)], against delivery of the Covered Bonds, duly executed on behalf of the Issuer in the manner contemplated by the Agency Agreement, in the form agreed between the Issuer and the Lead Manager(s) Manager (on behalf of the Managers). The distribution of the fees among the Managers will be as separately agreed between them.

Subscription of the Covered Bonds. (a) The Issuer hereby agrees to issue and sell the Covered Bonds in accordance with the provisions of this Agreement, the Dealership Agreement as supplemented and amended by this Agreement and the Agency Agreement and the Managers [severally and not jointly jointly][jointly and severally] agree with the Issuer to subscribe for the [Covered Bonds] [percentage of the principal amount of Covered Bonds opposite their respective names set forth in Annex 1 attached hereto and made a part hereof] in same day funds on [ ] or such other date not being later than [ ] as shall be agreed by the Issuer and the Lead Manager(s) Manager acting on behalf of the Managers (the “Issue Date”) at their issue price of [ ] per cent. of their principal amount plus (if the Issue Date is postponed) any accrued interest in respect thereof, [less a selling commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) less and a combined management and underwriting commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) and less the amount which the Issuer has agreed to pay to the Lead Manager(s) Manager in respect of certain expenses pursuant to Clause [5/6] below (each of which the Issuer agrees to pay to the Managers [or, as the case may be, the Lead Manager(s) on behalf of the Managers Manager] and authorizes the deduction thereof from the subscription moneys payable to the Issuer on the Issue Date), against delivery of the Covered Bonds, duly executed on behalf of the Issuer in the manner contemplated by the Agency Agreement, in the form agreed between the Issuer and the Lead Manager(s) Manager (on behalf of the Managers). [The respective underwriting commitments of the Managers are set forth opposite their respective names in Annex I hereto.]

Subscription of the Covered Bonds. (a) The Issuer hereby agrees to issue and sell the Covered Bonds in accordance with the provisions of this Agreement, the Dealership Agreement as supplemented and amended by this Agreement and the Agency Agreement and the Managers severally and not jointly agree with the Issuer to subscribe for the [Covered Bonds] [percentage of the principal amount of Covered Bonds opposite their respective names set forth in Annex 1 attached hereto and made a part hereof] in same day funds on [ ] or such other date not being later than [ ] as shall be agreed by the Issuer and the Lead Manager(s) Manager acting on behalf of the Managers (the “Issue Date”) at their issue price of [ ] per cent. of their principal amount plus (if the Issue Date is postponed) any accrued interest in respect thereof, [less a selling commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) less and a combined management and underwriting commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) and less the amount which the Issuer has agreed to pay to the Lead Manager(s) Manager in respect of certain expenses pursuant to Clause [5/6] below (each of which the Issuer agrees to pay to the Managers [or, as the case may be, the Lead Manager(s) on behalf of the Managers Manager] and authorizes the deduction thereof from the subscription moneys payable to the Issuer on the Issue Date), against delivery of the Covered Bonds, duly executed on behalf of the Issuer in the manner contemplated by the Agency Agreement, in the form agreed between the Issuer and the Lead Manager(s) Manager (on behalf of the Managers).

Subscription of the Covered Bonds. (a) The Issuer hereby agrees to issue and sell the Covered Bonds in accordance with the provisions of this Agreement, the Dealership Agreement as supplemented and amended by this Agreement and the Agency Agreement and the Managers jointly and severally and not jointly agree with the Issuer to subscribe for the [Covered Bonds] [percentage of the principal amount of Covered Bonds opposite their respective names set forth in Annex 1 attached hereto and made a part hereof] in same day funds on [ ] or such other date not being later than [ ] as shall be agreed by the Issuer and the Lead Manager(s) Manager acting on behalf of the Managers (the “Issue Date”) at their issue price of [ ] per cent. of their principal amount plus (if the Issue Date is postponed) any accrued interest in respect thereof, [less a selling commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) less and a combined management and underwriting commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) [and less the amount which the Issuer has agreed to pay to the Lead Manager(s) Manager in respect of certain expenses pursuant to Clause [5/6] below (each of which the Issuer agrees to pay to the Managers [or, as the case may be, the Lead Manager(s) on behalf of the Managers Manager] and authorizes the deduction thereof from the subscription moneys payable to the Issuer on the Issue Date)], against delivery of the Covered Bonds, duly executed on behalf of the Issuer in the manner contemplated by the Agency Agreement, in the form agreed between the Issuer and the Lead Manager(s) Manager (on behalf of the Managers). [As between themselves, the Managers’ respective underwriting commitments are set out in Appendix 1 hereto.]

Subscription of the Covered Bonds. (a) The Issuer hereby agrees to issue and sell the Covered Bonds in accordance with the provisions of this Agreement, the Dealership Agreement as supplemented and amended by this Agreement and the Agency Agreement and the Managers jointly and severally and not jointly agree with the Issuer to subscribe for the [Covered Bonds] [percentage of the principal amount of Covered Bonds opposite their respective names set forth in Annex 1 attached hereto and made a part hereof] in same day funds on [ ] or such other date not being later than [ ] as shall be agreed by the Issuer and the Lead Manager(s) Manager acting on behalf of the Managers (the “Issue Date”) at their issue price of [ ] per cent. of their principal amount plus (if the Issue Date is postponed) any accrued interest in respect thereof, [less a selling commission concession of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) less and a combined management and underwriting commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) [and less the amount which the Issuer has agreed to pay to the Lead Manager(s) Manager in respect of certain expenses pursuant to Clause [5/6] below (each of which the Issuer agrees to pay to the Managers [or, as the case may be, the Lead Manager(s) on behalf of the Managers Manager] and authorizes the deduction thereof from the subscription moneys payable to the Issuer on the Issue Date)], against delivery of the Covered Bonds, duly executed on behalf of the Issuer in the manner contemplated by the Agency Agreement, in the form agreed between the Issuer and the Lead Manager(s) Manager (on behalf of the Managers).

Subscription of the Covered Bonds. (a) The Issuer hereby agrees to issue and sell the Covered Bonds in accordance with the provisions of this Agreement, the Dealership Agreement as supplemented and amended by this Agreement and the Agency Agreement and the Managers jointly and severally and not jointly agree with the Issuer to subscribe for the [Covered Bonds] [percentage of the principal amount of Covered Bonds opposite their respective names set forth in Annex 1 attached hereto and made a part hereof] in same day funds on [ ] or such other date not being later than [ ] as shall be agreed by the Issuer and the Lead Manager(s) Manager acting on behalf of the Managers (the “Issue Date”) at their issue price of [ ] per cent. of their principal amount plus (if the Issue Date is postponed) any accrued interest in respect thereof, [less a selling commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) less and a combined management and underwriting commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) [and less the amount which the Issuer has agreed to pay to the Lead Manager(s) Manager in respect of certain expenses pursuant to Clause [5/6] below (each of which the Issuer agrees to pay to the Managers [or, as the case may be, the Lead Manager(s) on behalf of the Managers Manager] and authorizes the deduction thereof from the subscription moneys payable to the Issuer on the Issue Date)], against delivery of the Covered Bonds, duly executed on behalf of the Issuer in the manner contemplated by the Agency Agreement, in the form agreed between the Issuer and the Lead Manager(s) Manager (on behalf of the Managers).. [As between themselves, (i) the Managers’ respective underwriting commitments are set out in Appendix 1 hereto and (ii) commissions are split [in equal portions/proportionately to their underwriting commitments as set out in Appendix 1 hereto/ [specify other]]]

Subscription of the Covered Bonds. (a) The Issuer hereby agrees to issue and sell the Covered Bonds in accordance with the provisions of this Agreement, the Dealership Agreement as supplemented and amended by this Agreement and the Agency Agreement and the Managers severally and not jointly agree with the Issuer to subscribe for the [Covered Bonds] [percentage of the principal amount of Covered Bonds set forth opposite their respective names set forth in Annex 1 attached hereto and made a part hereof] in same day funds on [ ] or such other date not being later than [ ] as shall be agreed by the Issuer and the Lead Manager(s) Manager acting on behalf of the Managers (the “Issue Date”) at their issue price of [ ] per cent. of their principal amount plus (if the Issue Date is postponed) any accrued interest in respect thereof, [less a selling commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) less and a combined management and underwriting commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) and less the amount which the Issuer has agreed to pay to the Lead Manager(s) Manager in respect of certain expenses pursuant to Clause Section [5/6] below (each of which the Issuer agrees to pay to the Managers [or, as the case may be, the Lead Manager(s) on behalf of the Managers Manager] and authorizes the deduction thereof from the subscription moneys payable to the Issuer on the Issue Date), against delivery of the Covered Bonds, duly executed on behalf of the Issuer in the manner contemplated by the Agency Agreement, in the form agreed between the Issuer and the Lead Manager(s) Manager (on behalf of the Managers).

Subscription of the Covered Bonds. (a) The Issuer hereby agrees to issue and sell the Covered Bonds in accordance with the provisions of this Agreement, the Dealership Agreement as supplemented and amended by this Agreement and the Agency Agreement and the Managers jointly and severally and not jointly agree with the Issuer to subscribe for the [Covered Bonds] [percentage of the principal amount of Covered Bonds opposite their respective names set forth in Annex 1 attached hereto and made a part hereof] in same day funds on [ ] or such other date not being later than [ ] as shall be agreed by the Issuer and the Lead Manager(s) Manager acting on behalf of the Managers (the “Issue Date”) at their issue price of [ ] per cent. of their principal amount plus (if the Issue Date is postponed) any accrued interest in respect thereof, [less a selling commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) less and a combined management and underwriting commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) [and less the amount which the Issuer has agreed to pay to the Lead Manager(s) Manager in respect of certain expenses pursuant to Clause [5/6] below (each of which the Issuer agrees to pay to the Managers [or, as the case may be, the Lead Manager(s) on behalf of the Managers Manager] and authorizes the deduction thereof from the subscription moneys payable to the Issuer on the Issue Date)], against delivery of the Covered Bonds, duly executed on behalf of the Issuer in the manner contemplated by the Agency Agreement, in the form agreed between the Issuer and the Lead Manager(s) Manager (on behalf of the Managers).

Subscription of the Covered Bonds. (a) The Issuer hereby agrees to issue and sell the Covered Bonds in accordance with the provisions of this Agreement, the Dealership Agreement as supplemented and amended by this Agreement and the Agency Agreement and the Managers severally and not jointly agree with the Issuer on the basis of the representations, warranties and agreements herein contained and subject to the terms and conditions set forth herein to subscribe for the [Covered Bonds] [percentage of the principal amount of Covered Bonds opposite their respective names set forth in Annex 1 I attached hereto and made a part hereof] hereof in same day funds on [ ] or such other date not being later than [ ] as shall be agreed by the Issuer and the Lead Manager(s) Managers acting on behalf of the Managers (the “Issue Date”) at their issue price of [ ] per cent. cent of their principal amount plus (if the Issue Date is postponed) any accrued interest in respect thereof, [less a selling commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) less a combined management and underwriting commission of [ ] per cent. cent of the principal amount of the Covered Bonds (plus any applicable value added tax) and less the amount Bonds, which the Issuer has agreed to pay to the Lead Manager(s) in respect of certain expenses pursuant to Clause [5/6] below (each of which the Issuer agrees to pay to the Lead Manager(s) on behalf of the Managers and authorizes the deduction thereof from the subscription moneys payable to the Issuer on the Issue Date), against delivery of the Covered Bonds, duly executed on behalf of the Issuer in the manner contemplated by the Agency Agreement, in the form agreed between the Issuer and the Lead Manager(s) Managers (on behalf of the Managers).

Subscription of the Covered Bonds. (a) The Issuer hereby agrees to issue and sell the Covered Bonds in accordance with the provisions of this Agreement, the Dealership Agreement as supplemented and amended by this Agreement and the Agency Agreement and the Managers jointly and severally and not jointly agree with the Issuer to subscribe for the [Covered Bonds] [percentage of the principal amount of Covered Bonds opposite their respective names set forth in Annex 1 attached hereto and made a part hereof] in same day funds on [ ] or such other date not being later than [ ] as shall be agreed by the Issuer and the Lead Manager(s) Manager acting on behalf of the Managers (the “Issue Date”) at their issue price of [ ] per cent. of their principal amount plus (if the Issue Date is postponed) any accrued interest in respect thereof, [less a selling commission concession of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) less and a combined management and underwriting commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) and less the amount which the Issuer has agreed to pay to the Lead Manager(s) Manager in respect of certain expenses pursuant to Clause [5/6] below (each of which the Issuer agrees to pay to the Managers [or, as the case may be, the Lead Manager(s) on behalf of the Managers Manager] and authorizes the deduction thereof from the subscription moneys payable to the Issuer on the Issue Date), against delivery of the Covered Bonds, duly executed on behalf of the Issuer in the manner contemplated by the Agency Agreement, in the form agreed between the Issuer and the Lead Manager(s) Manager (on behalf of the Managers).

Subscription of the Covered Bonds. (a) The Issuer hereby agrees to issue and sell the Covered Bonds in accordance with the provisions of this Agreement, the Dealership Agreement as supplemented and amended by this Agreement and the Agency Agreement and the Managers jointly and severally and not jointly agree with the Issuer to subscribe for the [Covered Bonds] [percentage of the principal amount of Covered Bonds opposite their respective names set forth in Annex 1 attached hereto and made a part hereof] in same day funds on [ ] or such other date not being later than [ ] as shall be agreed by the Issuer and the Lead Manager(s) Manager acting on behalf of the Managers (the “Issue Date”) at their issue price of [ ] per cent. of their principal amount plus (if the Issue Date is postponed) any accrued interest in respect thereof, [less a selling commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) less and a combined management and underwriting commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) and less the amount which the Issuer has agreed to pay to the Lead Manager(s) Manager in respect of certain expenses pursuant to Clause Section [5/6] below (each of which the Issuer agrees to pay to the Managers [or, as the case may be, the Lead Manager(s) on behalf of the Managers Manager]] and authorizes the deduction thereof from the subscription moneys payable to the Issuer on the Issue Date), against delivery of the Covered Bonds, duly executed on behalf of the Issuer in the manner contemplated by the Agency Agreement, in the form agreed between the Issuer and the Lead Manager(s) Manager (on behalf of the Managers). [As between themselves, the Managers’ respective underwriting commitments are set out in Appendix I hereto.]

Subscription of the Covered Bonds. (a) The Issuer hereby agrees to issue and sell the Covered Bonds in accordance with the provisions of this Agreement, the Dealership Agreement as supplemented and amended by this Agreement and the Agency Agreement and the Managers [severally and not jointly jointly][jointly and severally] agree with the Issuer to subscribe for the [Covered Bonds] [percentage of the principal amount of Covered Bonds opposite their respective names set forth in Annex 1 attached hereto and made a part hereof] in same day funds on [ ] or such other date not being later than [ ] as shall be agreed by the Issuer and the Lead Manager(s) Manager acting on behalf of the Managers (the “Issue Date”) at their issue price of [ ] per cent. of their principal amount plus (if the Issue Date is postponed) any accrued interest in respect thereof, [less a selling commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) less and a combined management and underwriting commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) and less the amount which the Issuer has agreed to pay to the Lead Manager(s) Manager in respect of certain expenses pursuant to Clause [5/6] below (each of which the Issuer agrees to pay to the Managers [or, as the case may be, the Lead Manager(s) on behalf of the Managers Manager] and authorizes the deduction thereof from the subscription moneys payable to the Issuer on the Issue Date), against delivery of the Covered Bonds, duly executed on behalf of the Issuer in the manner contemplated by the Agency Agreement, in the form agreed between the Issuer and the Lead Manager(s) Manager (on behalf of the Managers).

Subscription of the Covered Bonds. (a) The Issuer hereby agrees to issue and sell the Covered Bonds in accordance with the provisions of this Agreement, the Dealership Agreement as supplemented and amended by this Agreement and the Agency Agreement and the Managers jointly and severally and not jointly agree with the Issuer to subscribe for the [Covered Bonds] [percentage of the principal amount of Covered Bonds opposite their respective names set forth in Annex 1 attached hereto and made a part hereof] in same day funds on [ ] or such other date not being later than [ ] as shall be agreed by the Issuer and the Lead Manager(s) Manager acting on behalf of the Managers (the “Issue Date”) at their issue price of [ ] per cent. of their principal amount plus (if the Issue Date is postponed) any accrued interest in respect thereof, [less a selling commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) less and a combined management and underwriting commission of [ ] per cent. of the principal amount of the Covered Bonds (plus any applicable value added tax) and less the amount which the Issuer has agreed to pay to the Lead Manager(s) Manager in respect of certain expenses pursuant to Clause [5/6] below (each of which the Issuer agrees to pay to the Managers [or, as the case may be, the Lead Manager(s) on behalf of the Managers Manager] and authorizes the deduction thereof from the subscription moneys payable to the Issuer on the Issue Date), against delivery of the Covered Bonds, duly executed on behalf of the Issuer in the manner contemplated by the Agency Agreement, in the form agreed between the Issuer and the Lead Manager(s) Manager (on behalf of the Managers).