Common use of France Clause in Contracts

France. Each Dealer represents and agrees, and each further Dealer appointed under the Programme will be required to represent and agree, that this Prospectus is not being distributed in the context of an offer to the public of financial securities in France within the meaning of Article L.411-1 of the Code monétaire et financier, and has therefore not been submitted to the Autorité des marchés financiers for prior approval and clearance procedure and, accordingly it has not offered or sold and will not offer or sell, directly or indirectly, Covered Bonds to the public in France, and has not distributed or caused to be distributed and will not distribute or cause to be distributed to the public in France, this Prospectus, the relevant Final Terms or any other offering material relating to the Covered Bonds, and that such offers, sales and distributions have been and will be made in France only to (a) providers of investment services relating to portfolio management for the account of third parties, and/or (b) qualified investors (investisseurs qualifiés), all as defined in, and in accordance with, Articles L.411-1, L.411-2, D.411-1 and D.411-4 of the Code monétaire et financier.

France. Each Dealer of the Dealers and the Bank represents and agrees, and each further Dealer appointed under the Programme will be required to represent represent, warrant and agree, agree that this the Prospectus is not being distributed in the context of an offer to the public of financial securities in France within the meaning of Article L.411-1 of the Code monétaire et financier, and has therefore not been submitted to the Autorité des marchés financiers for prior approval and clearance procedure and, accordingly it has not offered or sold and will not offer or sell, directly or indirectly, Covered Bonds to the public in France, and has not distributed or caused to be distributed and will not distribute or cause to be distributed to the public in France, this the Prospectus, the relevant Final Terms or any other offering material relating to the Covered Bonds, and that such offers, sales and distributions have been and will be made in France only to (a) providers of investment services relating to portfolio management for the account of third parties, and/or (b) qualified investors (investisseurs qualifiés), all as defined in, and in accordance with, Articles L.411-1, L.411-2, D.411-1 and D.411-4 of the Code monétaire et financier.

France. Each Dealer of the Dealers and the Bank represents and agrees, and each further Dealer appointed under agrees that the Programme will be required to represent and agree, that this Prospectus is not being distributed in the context of an offer to the public of financial securities in France within the meaning of Article L.411-1 of the Code monétaire et financier, and has therefore not been submitted to the Autorité des marchés financiers for prior approval and clearance procedure and, accordingly it has not offered or sold and will not offer or sell, directly or indirectly, Covered Bonds to the public in France, and has not distributed or caused to be distributed and will not distribute or cause to be distributed to the public in France, this the Prospectus, the relevant Final Terms or any other offering material relating to the Covered Bonds, and that such offers, sales and distributions have been and will be made in France only to (a) providers of investment services relating to portfolio management for the account of third parties, and/or (b) qualified investors (investisseurs qualifiés), all as defined in, and in accordance with, Articles L.411-1, L.411-2, D.411-1 and D.411-D.411- 4 of the Code monétaire et financier.

France. Each Dealer of the Dealers represents and agrees, and each further Dealer appointed under the Programme will be required to represent and agree, agree that this the Prospectus is not being distributed in the context of an offer to the public of financial securities in France within the meaning of Article L.411-1 of the Code monétaire et financier, and has therefore not been submitted to the Autorité des marchés financiers for prior approval and clearance procedure and, accordingly it has not offered or sold and will not offer or sell, directly or indirectly, Covered Bonds to the public in France, and has not distributed or caused to be distributed and will not distribute or cause to be distributed to the public in France, this the Prospectus, the relevant Final Terms or any other offering material relating to the Covered Bonds, and that such offers, sales and distributions have been and will be made in France only to (a) providers of investment services relating to portfolio management for the account of third partiesparties (personnes fournissant le service d'investissement de gestion de portefeuille pour compte de tiers), and/or (b) qualified investors (investisseurs qualifiés), other than individuals, all as defined in, and in accordance with, Articles articles L.411-1, L.411-2, D.411-1 and D.411-4 of 1of the Code monétaire et financier.

France. Each Dealer of the Dealers represents and agrees, and each further Dealer appointed under the Programme will be required to represent and agree, agree that this the Prospectus is not being distributed in the context of an offer to the public of financial securities in France within the meaning of Article L.411-1 of the Code monétaire et financier, and has therefore not been submitted to the Autorité des marchés financiers for prior approval and clearance procedure and, accordingly it has not offered or sold and will not offer or sell, directly or indirectly, Covered Bonds to the public in France, and has not distributed or caused to be distributed and will not distribute or cause to be distributed to the public in France, this the Prospectus, the relevant Final Terms or any other offering material relating to the Covered Bonds, and that such offers, sales and distributions have been and will be made in France only to (a) providers of investment services relating to portfolio management for the account of third partiesparties (personnes fournissant le service d’investissement de gestion de portefeuille pour compte de tiers), and/or (b) qualified investors (investisseurs qualifiés), other than individuals, all as defined in, and in accordance with, Articles articles L.411-1, L.411-2, D.411-1 and D.411-4 of 1of the Code monétaire et financier.

France. Each Dealer of the Dealers and the Bank represents and agrees, and each further Dealer appointed under agrees that the Programme will be required to represent and agree, that this Prospectus is not being distributed in the context of an offer to the public of financial securities in France within the meaning of Article L.411-1 of the Code monétaire et financier, and has therefore not been submitted to the Autorité des marchés financiers for prior approval and clearance procedure and, accordingly it has not offered or sold and will not offer or sell, directly or indirectly, Covered Bonds to the public in France, and has not distributed or caused to be distributed and will not distribute or cause to be distributed to the public in France, this the Prospectus, the relevant Final Terms or any other offering material relating to the Covered Bonds, and that such offers, sales and distributions have been and will be made in France only to (a) providers of investment services relating to portfolio management for the account of third parties, and/or (b) qualified investors (investisseurs qualifiés), all as defined in, and in accordance with, Articles L.411-1, L.411-2, D.411-1 and D.411-4 of the Code monétaire et financier.

France. Each Dealer of the Dealers represents and agrees, and each further Dealer appointed under the Programme will be required to represent and agree, that this Prospectus the Offering Memorandum is not being distributed in the context of an offer to the public of financial securities in France within the meaning of Article L.411-1 of the Code monétaire et financier, and has therefore not been submitted to the Autorité des marchés financiers for prior approval and clearance procedure and, accordingly it has not offered or sold and will not offer or sell, directly or indirectly, Covered Bonds to the public in France, and has not distributed or caused to be distributed and will not distribute or cause to be distributed to the public in France, this Prospectusthe Offering Memorandum, the relevant Final Terms or any other offering material relating to the Covered Bonds, and that such offers, sales and distributions have been and will be made in France only to (a) providers of investment services relating to portfolio management for the account of third parties, and/or parties (b) qualified investors (investisseurs qualifiéspersonnes fournissant le service d’investissement de gestion de portefeuille pour compte de tiers), all as defined in, and in accordance with, Articles L.411-1, L.411-2, D.411-1 and D.411-4 of the Code monétaire et financier.and/or

France. Each Dealer of the Dealers represents and agrees, and each further Dealer appointed under agrees that the Programme will be required to represent and agree, that this Prospectus is not being distributed in the context of an offer to the public of financial securities in France within the meaning of Article L.411-1 of the Code monétaire et financier, and has therefore not been submitted to the Autorité des marchés financiers for prior approval and clearance procedure and, accordingly it has not offered or sold and will not offer or sell, directly or indirectly, Covered Bonds to the public in France, and has not distributed or caused to be distributed and will not distribute or cause to be distributed to the public in France, this the Prospectus, the relevant Final Terms or any other offering material relating to the Covered Bonds, and that such offers, sales and distributions have been and will be made in France only to (a) providers of investment services relating to portfolio management for the account of third parties, and/or (b) qualified investors (investisseurs qualifiés), all as defined in, and in accordance with, Articles L.411-1, L.411-2, D.411-1 and D.411-4 of the Code monétaire et financier.

France. Each Dealer of the Dealers represents and agrees, and each further Dealer appointed under the Programme will be required to represent represent, warrant and agree, agree that this the Prospectus is not being distributed in the context of an offer to the public of financial securities in France within the meaning of Article L.411-1 of the Code monétaire et financier, and has therefore not been submitted to the Autorité des marchés financiers for prior approval and clearance procedure and, accordingly it has not offered or sold and will not offer or sell, directly or indirectly, Covered Bonds to the public in France, and has not distributed or caused to be distributed and will not distribute or cause to be distributed to the public in France, this the Prospectus, the relevant Final Terms or any other offering material relating to the Covered Bonds, and that such offers, sales and distributions have been and will be made in France only to (a) providers of investment services relating to portfolio management for the account of third parties, and/or (b) qualified investors (investisseurs qualifiés), all as defined in, and in accordance with, Articles L.411-1, L.411-2, D.411-1 and D.411-4 of the Code monétaire et financier.

France. Each Dealer of the Dealers represents and agrees, and each further Dealer appointed under the Programme will be required to represent represent, warrant and agree, agree that this the Prospectus is not being distributed in the context of an offer to the public of financial securities in France within the meaning of Article L.411-L.411 1 of the Code monétaire et financier, and has therefore not been submitted to the Autorité des marchés financiers for prior approval and clearance procedure and, accordingly it has not offered or sold and will not offer or sell, directly or indirectly, Covered Bonds to the public in France, and has not distributed or caused to be distributed and will not distribute or cause to be distributed to the public in France, this the Prospectus, the relevant Final Terms or any other offering material relating to the Covered Bonds, and that such offers, sales and distributions have been and will be made in France only to (a) providers of investment services relating to portfolio management for the account of third parties, and/or (b) qualified investors (investisseurs qualifiés), all as defined in, and in accordance with, Articles L.411-L.411 1, L.411-L.411 2, D.411-D.411 1 and D.411-D.411 4 of the Code monétaire et financier.