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

• 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.

• 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.

• 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.

• PART A – CONTRACTUAL TERMS This document constitutes the Pricing Supplement of the Exempt Covered Bonds described herein.

• The relevant Final Terms Document or Pricing Supplement in relation to any Tranche of Exempt Covered Bonds may specify other terms and conditions which will, to the extent so specified or to the extent inconsistent with the Terms and Conditions, replace or modify the Terms and Conditions for the purposes of such Covered Bonds.

• In the case of any Covered Bonds which are Exempt Covered Bonds, any reference in this Global Registered Covered Bond to the "Final Terms" shall be deemed to be a reference to the Pricing Supplement prepared in relation to such Covered Bonds.

• The expected credit ratings of a Series of Covered Bonds will be set out in the applicable Final Terms (or, in the case of Exempt Covered Bonds, the applicable Pricing Supplement) for such Series of Covered Bonds.

• To ensure a response, questions must be received in writing by the scheduled date specified in Section D 1 Key Action Dates.

• In the case of Exempt Covered Bonds which are also Floating Rate Covered Bonds where the applicable Pricing Supplement identifies that Screen Rate Determination applies to the calculation of interest, if the Reference Rate from time to time is specified in the applicable Pricing Supplement as being other than LIBOR or EURIBOR, the Rate of Interest in respect of such Exempt Covered Bonds will be determined as provided in the applicable Pricing Supplement.

• Exempt Covered Bonds may be unlisted or may be listed or admitted to trading, as the case may be, on such other or further stock exchanges or regulated or unregulated markets, as may be agreed between the Issuer and the Relevant Dealer(s) or Lead Manager in relation to each issue.

More Definitions of Exempt Covered Bonds

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 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 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.