Exempt Covered Bonds definition

Exempt Covered Bonds means Covered Bonds which are unlisted and/or Covered Bonds that are not listed or admitted to trading on any regulated market in the European Economic Area and/or Covered Bonds listed on other stock exchanges outside the European Economic Area;

Exempt Covered Bonds means Covered Bonds for which no prospectus is required to be published under the UK Prospectus Regulation;

Exempt Covered Bonds means Covered Bonds for which no prospectus is required to be published under Directive 2003/71/EC, as amended including by Directive 2010/73/EU and includes any relevant implementing measures in a relevant member state of the EEA.

Examples of Exempt Covered Bonds in a sentence

• The terms and conditions applicable to any particular Tranche of Covered Bonds are these Conditions as completed by the relevant Final Terms or (in the case of Exempt Covered Bonds only) as completed and/or amended and/or replaced by the relevant Pricing Supplement.

• Each Tranche of Exempt Covered Bonds is the subject of a pricing supplement (the “Pricing Supplement”) which completes and/or amends and/or replaces these Conditions.

• Copies of the applicable Final Terms of all Covered Bonds of each Series (or Pricing Supplement in relation to Exempt Covered Bonds of any Series) are obtainable during normal business hours of the specified office of each of the Paying Agents, and any holder of the Covered Bonds must produce evidence satisfactory to the Issuer and the Bond Trustee or, as the case may be, relevant Paying Agent as to its holding of Covered Bonds and identity.

• Exempt Covered Bonds will rank pari passu with all other Covered Bonds and payments of principal and interest payable will be guaranteed by the Guarantor under and subject to the terms of the Covered Bond Guarantee.

• Accordingly, any potential investor in the Covered Bonds should be aware that the Programme may include Exempt Covered Bonds, the holders of which will have equivalent rights as against the Issuer and the Guarantor as the holders of Covered Bonds issued pursuant to this Prospectus, which may dilute the ability of the Issuer or the Guarantor to make payments on the Covered Bonds or the Covered Bond Guarantee, as applicable.

• Copies of the applicable Final Terms of all Covered Bonds of each Series (including in relation to Exempt Covered Bonds of any Series) are obtainable during normal business hours of the specified office of each of the Paying Agents, and any holder of the Covered Bonds must produce evidence satisfactory to the Issuer and the Bond Trustee or, as the case may be, relevant Paying Agent as to its holding of Covered Bonds and identity.

• In respect of any Covered Bonds, references herein to these “Terms and Conditions” are to these terms and conditions as completed by the Final Terms or, in the case of Exempt Covered Bonds only, as supplemented, amended and/or replaced by the Pricing Supplement and any reference herein to a “Condition” is a reference to the relevant Condition of the Terms and Conditions of the relevant Covered Bonds.

• Such Exempt Covered Bonds do not form part of this Prospectus approved by the FCA and the FCA has neither reviewed nor approved any information contained in this Prospectus in connection with such Exempt Covered Bonds.

• Questions will be taken from full members of the Association and the Chair will regulate the number and length of time taken over questions.

• In respect of any Covered Bonds, references herein to these “Terms and Conditions” are to these terms and conditions as completed by the Final Terms, or, in the case of Exempt Covered Bonds only, as supplemented, amended, and/or replaced by the Pricing Supplement, and any reference herein to a “Condition” is a reference to the relevant Condition of the Terms and Conditions of the relevant Covered Bonds.

More Definitions of Exempt Covered Bonds

Exempt Covered Bonds is added to Article 1 of the Master Definitions and Construction Agreement in alphabetical order as follows:

Exempt Covered Bonds means Covered Bonds which are not to be admitted to trading on a Regulated Market in the European Economic Area;

Exempt Covered Bonds means Covered Bonds which are neither to be admitted to trading on a regulated market for the purposes of the Markets in Financial Instruments Directive (Directive 2004/39/EC) in the European Economic Area nor offered in the European Economic Area in circumstances where a prospectus is required to be published under the Directive 2003/71/EC (as amended) (the Prospectus Directive). Certain types of Covered Bonds listed above may only be issued as Exempt Covered Bonds unless a Drawdown Prospectus or Securities Note is produced. All terms with initial capitals used herein without definition shall have the meanings given to them in the Base Prospectus dated August 1, 2014 as supplemented or replaced from time to time (the “Prospectus”), or, as the case may be, the Dealership Agreement dated August 1, 2014 as amended, supplemented or restated (the “Dealership Agreement”) between the Issuer, the Guarantor LP and the Dealers named therein pursuant to which the Issuer may issue Covered Bonds. DOCS 13618111

Exempt Covered Bonds means Covered Bonds which are neither to be admitted to trading on a regulated market for the purposes of the Markets in Financial Instruments Directive (Directive 2004/39/EC) in the European Economic Area nor offered in the European Economic Area in circumstances where a prospectus is required to be published under the Directive 2003/71/EC (the Prospectus Directive). All terms with initial capitals used herein without definition shall have the meanings given to them in the Prospectus dated 22 April 2014 as supplemented or replaced from time to time (the Prospectus) or, as the case may be, the Dealership Agreement dated 25 April 2014 between the Issuer, the Guarantor and the Dealers named in it as amended, supplemented, novated or restated from time to time (the Dealership Agreement) under which the Issuer may issue Covered Bonds. As used herein, in relation to any Covered Bonds which are to have a "listing" or be "listed" (i) on the London Stock Exchange, listing and listed shall be construed to mean that such Covered Bonds have been admitted to the Official List and admitted to trading on the London Stock Exchange's regulated market and

Exempt Covered Bonds means Covered Bonds which are unlisted and/or Covered Bonds that are not to be listed or admitted to trading on a Regulated Market in the European Economic Area and/or Covered Bonds listed on other stock exchanges outside the European Economic Area. Certain types of Covered Bonds listed above may only be issued as Exempt Covered Bonds unless a Drawdown Prospectus is produced. All terms with initial capitals used herein without definition shall have the meanings given to them in the Base Prospectus dated July 29, 2016 as supplemented or replaced from time to time (the “Prospectus”), or, as the case may be, the Dealership Agreement dated July 29, 2016 as amended, supplemented or restated (the “Dealership Agreement”) between the Issuer, the Guarantor LP and the Dealers named therein pursuant to which the Issuer may issue Covered Bonds.