Common use of Amortisation Test Clause in Contracts

Amortisation Test. The Asset Monitor test of arithmetical accuracy of the Amortisation Test will comprise the following steps: (a) Ensure that the Cash Manager has provided, in accordance with Clause 3.1 of the Asset Monitor Agreement: (i) figures A, B, C, Y and Z as described in the Amortisation Test; (ii) the constituent figures used in the calculations of items A, B, Y and Z. Specifically, for each Loan: (A) outstanding principal balance (B) latest valuation (C) Reference indexed valuation (D) whether Loan is 3 months or more in arrears • the Sterling Equivalent of the Principal Amount Outstanding of the Covered Bonds as calculated by the Cash Manager on the relevant Calculation Date. (iii) a nil balance where applicable. (b) For A: (i) determine the lower of A(a) and A(b). (c) For B: (i) sum the amount of any cash standing to the credit of the GIC Account and the principal amount of any Authorised Investments. (d) For Z: (i) multiply the weighted average remaining maturity of all Covered Bonds then outstanding by the Sterling Equivalent of the Principal Amount Outstanding of the Covered Bonds both figures as calculated by the Cash Manager on the relevant Calculation Date. (ii) multiply the result by the Negative Carry Factor to give Z. (e) Re-perform the calculation A + B + C - Y - Z (f) Compare this calculation to that provided by the Cash Manager. (g) Complete the Asset Pool Monitor Report. Abbey ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇ (the “LLP”) NW1 3AN (the “Issuer”) Deutsche Trustee Company Limited ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇ (the “Security Trustee” and “Bond Trustee”) [date] Dear Sirs We have performed the following procedures as agreed by the LLP and the Issuer in accordance with our engagement letter dated [date] (the “Engagement Letter”), a copy of which is attached as Appendix i and the Asset Monitor Agreement dated 3 June 2005 as amended and restated on 24 December 2012 and 25 June 2014 and as further amended (together, the “Asset Monitor Agreement”). The procedures were performed solely for the purpose of performing certain agreed upon procedures on certain loans in the loan pool (the “Loan Pool”) in order to assist you in your confirmation of your compliance with regulations 16 & 17 of the Regulated Covered Bonds Regulations 2008 as amended by the Regulated Covered Bonds (Amendment) Regulations 2011 and the Regulated Covered Bonds (Amendment) Regulations 2012 (together, the “Regulations”) governed by The Financial Conduct Authority (the “FCA”). This report is addressed to the Security Trustee, the Bond Trustee, the LLP and the Issuer. References in this report to “you” or “your” are references to the Issuer and/or LLP as applicable. The procedures performed were as defined in Appendix 2 of the Engagement Letter (the “Agreed upon Procedures”). The Agreed upon Procedures comprise:

Amortisation Test. The Asset Monitor test of arithmetical accuracy of the Amortisation Test will comprise the following steps: (a) Ensure that the Cash Manager has provided, in accordance with Clause 3.1 of the Asset Monitor Agreement: (i) figures A, B, C, Y and Z as described in the Amortisation Test; (ii) the constituent figures used in the calculations of items A, B, Y and Z. Specifically, for each Loan: (A) outstanding principal balance (B) latest valuation (C) Reference indexed valuation (D) whether Loan is 3 months or more in arrears • the Sterling Equivalent of the Principal Amount Outstanding of the Covered Bonds as calculated by the Cash Manager on the relevant Calculation Date. (iii) a nil balance where applicable. (b) For A: (i) determine the lower of A(a) and A(b). (c) For B: (i) sum the amount of any cash standing to the credit of the GIC Account and the principal amount of any Authorised Investments. (d) For Z: (i) multiply the weighted average remaining maturity of all Covered Bonds then outstanding by the Sterling Equivalent of the Principal Amount Outstanding of the Covered Bonds both figures as calculated by the Cash Manager on the relevant Calculation Date. (ii) multiply the result by the Negative Carry Factor to give Z. (e) Re-perform the calculation A + B + C - Y - Z (f) Compare this calculation to that provided by the Cash Manager. (g) Complete the Asset Pool Monitor Report. Abbey ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇ (the “LLP”) NW1 3AN (the “Issuerlssuer”) Deutsche Trustee Company Limited ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇ (the “Security Trustee” and “Bond Trustee”) [date] Dear Sirs We have performed the following procedures as agreed by the LLP and the Issuer in accordance with our engagement letter dated [date] (the “Engagement Letter”), a copy of which is attached as Appendix i and the Asset Monitor Agreement dated 3 June 2005 as amended and restated on 24 December 2012 and 25 June 2014 and as further amended (together, the “Asset Monitor Agreement”). The procedures were performed solely for the purpose of performing certain agreed upon procedures on certain loans in the loan pool (the “Loan Pool”) in order to assist you in your confirmation of your compliance with regulations 16 & 17 of the Regulated Covered Bonds Regulations 2008 as amended by the Regulated Covered Bonds (Amendment) Regulations 2011 and the Regulated Covered Bonds (Amendment) Regulations 2012 (together, the “Regulations”) governed by The Financial Conduct Authority (the “FCA”). This report is addressed to the Security Trustee, the Bond Trustee, the LLP and the Issuer. References in this report to “you” or “your” are references to the Issuer and/or andƒor LLP as applicable. The procedures performed were as defined in Appendix 2 of the Engagement Letter (the “Agreed upon Procedures”). The Agreed upon Procedures comprise: