Existing Bonds means the following obligations of Seller:
Covered Bonds means any and all the covered bonds (obbligazioni bancarie garantite) issued or to be issued by the Issuer pursuant to the terms and subject to the conditions of the Programme Agreement.
Refunding Bonds means Bonds issued pursuant to provisions of this Master Indenture, the proceeds of which are used to refund one or more Series of Outstanding Bonds.
Corporate Bonds means debt securities issued by private and public corporations.
Outstanding Bonds means any Bonds not redeemed or otherwise discharged.
Pledged Bonds means any Bonds which shall, at the time of determination thereof, be held in pledge for the benefit of the Bank by the Pledged Bonds Custodian pursuant to the Pledge Agreement.