Common use of GENERAL DESCRIPTION OF THE PROGRAMME Clause in Contracts

GENERAL DESCRIPTION OF THE PROGRAMME. The following overview does not purport to be complete and is taken from, and is qualified in its entirety by, the remainder of this Prospectus and, in relation to the terms and conditions of any particular Tranche of Covered Bonds, the applicable Final Terms. Words and expressions defined elsewhere in this Prospectus shall have the same meanings in this overview. A glossary of certain defined terms is contained at the end of this Prospectus on page 233. Issuers: Bank of New Zealand: incorporated as a company under the NZ Companies Act with company number 428849 and having its registered office at Level 0, 00 Xxxxx Xxxxxx, Xxxxxxxx 0000, Xxx Xxxxxxx. BNZ International Funding Limited, acting through its London Branch: incorporated as a company under the NZ Companies Act with company number 1635202 and having its registered office at Level 0, 00 Xxxxx Xxxxxx, Xxxxxxxx 0000, Xxx Xxxxxxx acting through its London Branch at 00 Xxxx Xxxxxx, Xxxxxx XX0X 0XX, Xxxxxx Xxxxxxx. Covered Bond Guarantor: CBG Trustee Company Limited, a company incorporated in New Zealand with limited liability under registration number 2467131, having its registered office at Level 0, 00 Xxxxxxxxx Xxxxxx, Xxxxxxxx 0000, Xxx Xxxxxxx, as trustee of the BNZ Covered Bond Trust. The Covered Bond Guarantor’s business is to acquire, inter alia, Mortgage Loans and the Related Security from the Seller pursuant to the terms of the Mortgage Sale Agreement and to guarantee certain payments in respect of the Covered Bonds. The Covered Bond Guarantor will hold the Mortgage Loan Portfolio and the other Charged Property in accordance with the terms of the Programme Documents. The Covered Bond Guarantor has provided a guarantee covering all Guaranteed Amounts when the same shall become Due for Payment, but only following an Issuer Event of Default and the service on the Covered Bond Guarantor of a Notice to Pay, or if earlier, a Covered Bond Guarantee Acceleration Notice. The obligations of the Covered Bond Guarantor under the Covered Bond Guarantee and the other Programme Documents to which it is a party are secured by the Charged Property from time to time of the Covered Bond Guarantor and recourse against the Covered Bond Guarantor is limited to such Charged Property. The Guarantor: Bank of New Zealand: incorporated as a company under the NZ Companies Act with company number 428849 and having its registered office at Level 0, 00 Xxxxx Xxxxxx, Xxxxxxxx 0000, Xxx Xxxxxxx. The Guarantor has provided a guarantee covering all moneys payable on the due dates by BNZ-IF under the Bond Trust Deed, the Covered Bonds and the Coupons, following service on the Guarantee of a written demand. The Trust: BNZ Covered Bond Trust. The purpose of the Trust is the acquisition, management and sale of amongst other things, Mortgage Loans and the Related Security, the borrowing of moneys to fund the acquisition of such assets, the hedging of risks associated with such assets and such funding, the acquisition, management and sale of Substitution Assets and Authorised Investments, the giving of guarantees, the granting of security and any other business as the Trust Manager shall direct. The Beneficiaries: SAVY. SAVY is a charitable trust which aims to instil good financial habits in young adults throughout New Zealand. Trust Manager: BNZ Facilities Management Limited with company number 1844086 and having its registered office at Level 0, 00 Xxxxx Xxxxxx, Xxxxxxxx 0000, Xxx Xxxxxxx (BNZFML). BNZFML is a wholly owned subsidiary of BNZ. Seller: The Seller under the Programme is BNZ, which is in the business, inter alia, of originating and acquiring residential mortgage loans and conducting other banking related activities.

GENERAL DESCRIPTION OF THE PROGRAMME. The following overview does not purport to be complete and is taken from, and is qualified in its entirety by, the remainder of this Prospectus and, in relation to the terms and conditions of any particular Tranche of Covered Bonds, the applicable Final Terms. Words and expressions defined elsewhere in this Prospectus shall have the same meanings in this overview. A glossary of certain defined terms is contained at the end of this Prospectus on page 233221. Issuers: Bank of New Zealand: incorporated as a company under the NZ New Zealand Companies Act 1993 with company number 428849 and having its registered office at Level 0, 00 Xxxxx Xxxxxx, Xxxxxxxx 0000Xxxxxxxx, Xxx Xxxxxxx. BNZ International Funding Limited, acting through its London Branchbranch: incorporated as a company under the NZ New Zealand Companies Act 1993 with company number 1635202 and having its registered office at Level 0, 00 Xxxxx Xxxxxx, Xxxxxxxx 0000Xxxxxxxx, Xxx Xxxxxxx acting through its London Branch at 00 Xxxx Xxxxxx, Xxxxxx XX0X 0XX, Xxxxxx Xxxxxxx. Covered Bond Guarantor: CBG Trustee Company Limited, a company incorporated in New Zealand with limited liability under registration number 2467131, having its registered office at Level 000, 00 Xxxxxxxxx 000 Xxxxxx Xxxxxx, Xxxxxxxx 0000Wellington, Xxx XxxxxxxNew Zealand, as trustee of the BNZ Covered Bond Trust. The Covered Bond Guarantor’s business is to acquire, inter alia, Mortgage Loans and the Related Security from the Seller pursuant to the terms of the Mortgage Sale Agreement and to guarantee certain payments in respect of the Covered Bonds. The Covered Bond Guarantor will hold the Mortgage Loan Portfolio and the other Charged Property in accordance with the terms of the Programme Documents. The Covered Bond Guarantor has provided a guarantee covering all Guaranteed Amounts when the same shall become Due for Payment, but only following an Issuer Event of Default and the service on the Covered Bond Guarantor of a Notice to Pay, or if earlier, a Covered Bond Guarantee Acceleration Notice. The obligations of the Covered Bond Guarantor under the Covered Bond Guarantee and the other Programme Documents to which it is a party are secured by the Charged Property from time to time of the Covered Bond Guarantor and recourse against the Covered Bond Guarantor is limited to such Charged Property. The Guarantor: Bank of New Zealand: incorporated as a company under the NZ New Zealand Companies Act 1993 with company number 428849 and having its registered office at Level 0, 00 Xxxxx Xxxxxx, Xxxxxxxx 0000Xxxxxxxx, Xxx Xxxxxxx. The Guarantor has provided a guarantee covering all moneys payable on the due dates by BNZ-IF under the Bond Trust Deed, the Covered Bonds and the Coupons, following service on the Guarantee of a written demand. The Trust: BNZ Covered Bond Trust. The purpose of the Trust is the acquisition, management and sale of amongst other things, Mortgage Loans and the Related Security, the borrowing of moneys to fund the acquisition of such assets, the hedging of risks associated with such assets and such funding, the acquisition, management and sale of Substitution Assets and Authorised Investments, the giving of guarantees, the granting of security and any other business as the Trust Manager shall direct. The Beneficiaries: SAVY. SAVY is a charitable trust which aims to instil good financial habits in young adults throughout New Zealand. Trust Manager: BNZ Facilities Management Limited with company number 1844086 and having its registered office at Level 0, 00 Xxxxx Xxxxxx, Xxxxxxxx 0000, Xxx Xxxxxxx (BNZFML). BNZFML is a wholly owned subsidiary of BNZ. Seller: The Seller under the Programme is BNZ, which is in the business, inter alia, of originating and acquiring residential mortgage loans and conducting other banking related activities.

GENERAL DESCRIPTION OF THE PROGRAMME. The following overview does not purport to be complete and is taken from, and is qualified in its entirety by, the remainder of this Prospectus and, in relation to the terms and conditions of any particular Tranche of Covered Bonds, the applicable Final Terms. Words and expressions defined elsewhere in this Prospectus shall have the same meanings in this overview. A glossary of certain defined terms is contained at the end of this Prospectus on page 233235. Issuers: Bank of New Zealand: incorporated as a company under the NZ Companies Act with company number 428849 and having its registered office at Level 0, 00 Xxxxx Xxxxxx, Xxxxxxxx 0000, Xxx Xxxxxxx. BNZ International Funding Limited, acting through its London Branch: incorporated as a company under the NZ Companies Act with company number 1635202 and having its registered office at Level 0, 00 Xxxxx Xxxxxx, Xxxxxxxx 0000, Xxx Xxxxxxx acting through its London Branch at 00 Xxxx Xxxxxx, Xxxxxx XX0X 0XX, Xxxxxx Xxxxxxx. Covered Bond Guarantor: CBG Trustee Company Limited, a company incorporated in New Zealand with limited liability under registration number 2467131, having its registered office at Level 0, 00 Xxxxxxxxx Xxxxxx, Xxxxxxxx 0000, Xxx Xxxxxxx, as trustee of the BNZ Covered Bond Trust. The Covered Bond Guarantor’s business is to acquire, inter alia, Mortgage Loans and the Related Security from the Seller pursuant to the terms of the Mortgage Sale Agreement and to guarantee certain payments in respect of the Covered Bonds. The Covered Bond Guarantor will hold the Mortgage Loan Portfolio and the other Charged Property in accordance with the terms of the Programme Documents. The Covered Bond Guarantor has provided a guarantee covering all Guaranteed Amounts when the same shall become Due for Payment, but only following an Issuer Event of Default and the service on the Covered Bond Guarantor of a Notice to Pay, or if earlier, a Covered Bond Guarantee Acceleration Notice. The obligations of the Covered Bond Guarantor under the Covered Bond Guarantee and the other Programme Documents to which it is a party are secured by the Charged Property from time to time of the Covered Bond Guarantor and recourse against the Covered Bond Guarantor is limited to such Charged Property. The Guarantor: Bank of New Zealand: incorporated as a company under the NZ Companies Act with company number 428849 and having its registered office at Level 0, 00 Xxxxx Xxxxxx, Xxxxxxxx 0000, Xxx Xxxxxxx. The Guarantor has provided a guarantee covering all moneys payable on the due dates by BNZ-IF under the Bond Trust Deed, the Covered Bonds and the Coupons, following service on the Guarantee of a written demand. The Trust: BNZ Covered Bond Trust. The purpose of the Trust is the acquisition, management and sale of amongst other things, Mortgage Loans and the Related Security, the borrowing of moneys to fund the acquisition of such assets, the hedging of risks associated with such assets and such funding, the acquisition, management and sale of Substitution Assets and Authorised Investments, the giving of guarantees, the granting of security and any other business as the Trust Manager shall direct. The Beneficiaries: SAVY. SAVY is a charitable trust which aims to instil good financial habits in young adults throughout New Zealand. Trust Manager: BNZ Facilities Management Limited with company number 1844086 and having its registered office at Level 0, 00 Xxxxx Xxxxxx, Xxxxxxxx 0000, Xxx Xxxxxxx (BNZFML). BNZFML is a wholly owned subsidiary of BNZ. Seller: The Seller under the Programme is BNZ, which is in the business, inter alia, of originating and acquiring residential mortgage loans and conducting other banking related activities.

GENERAL DESCRIPTION OF THE PROGRAMME. The following overview does not purport to be complete and is taken from, and is qualified in its entirety by, the remainder of this Prospectus and, in relation to the terms and conditions of any particular Tranche of Covered Bonds, the applicable Final Terms. Words and expressions defined elsewhere in this Prospectus shall have the same meanings in this overview. A glossary of certain defined terms is contained at the end of this Prospectus on page 233221. Issuers: Bank of New Zealand: incorporated as a company under the NZ New Zealand Companies Act 1993 with company number 428849 and having its registered office at Level 0, 00 Xxxxx Xxxxxx, Xxxxxxxx 0000Xxxxxxxx, Xxx Xxxxxxx. BNZ International Funding Limited, acting through its London Branchbranch: incorporated as a company under the NZ New Zealand Companies Act 1993 with company number 1635202 and having its registered office at Level 0, 00 Xxxxx Xxxxxx, Xxxxxxxx 0000Xxxxxxxx, Xxx Xxxxxxx acting through its London Branch at 00 Xxxx Xxxxxx, Xxxxxx XX0X 0XX, Xxxxxx Xxxxxxx. Covered Bond Guarantor: CBG Trustee Company Limited, a company incorporated in New Zealand with limited liability under registration number 2467131, having its registered office at Level 000, 00 Xxxxxxxxx 000 Xxxxxx Xxxxxx, Xxxxxxxx 0000Wellington, Xxx XxxxxxxNew Zealand, as trustee of the BNZ Covered Bond Trust. The Covered Bond Guarantor’s business is to acquire, inter alia, Mortgage Loans and the Related Security from the Seller pursuant to the terms of the Mortgage Sale Agreement and to guarantee certain payments in respect of the Covered Bonds. The Covered Bond Guarantor will hold the Mortgage Loan Portfolio and the other Charged Property in accordance with the terms of the Programme Documents. The Covered Bond Guarantor has provided a guarantee covering all Guaranteed Amounts when the same shall become Due for Payment, but only following an Issuer Event of Default and the service on the Covered Bond Guarantor of a Notice to Pay, or if earlier, a Covered Bond Guarantee Acceleration Notice. The obligations of the Covered Bond Guarantor under the Covered Bond Guarantee and the other Programme Documents to which it is a party are secured by the Charged Property from time to time of the Covered Bond Guarantor and recourse against the Covered Bond Guarantor is limited to such Charged Property. The Guarantor: Bank of New Zealand: incorporated as a company under the NZ New Zealand Companies Act 1993 with company number 428849 and having its registered office at Level 0, 00 Xxxxx Xxxxxx, Xxxxxxxx 0000Xxxxxxxx, Xxx Xxxxxxx. The Guarantor has provided a guarantee covering all moneys payable on the due dates by BNZ-IF under the Bond Trust Deed, the Covered Bonds Bonds, the Receipts and the Coupons, following service on the Guarantee of a written demand. The Trust: BNZ Covered Bond Trust. The purpose of the Trust is the acquisition, management and sale of amongst other things, Mortgage Loans and the Related Security, the borrowing of moneys to fund the acquisition of such assets, the hedging of risks associated with such assets and such funding, the acquisition, management and sale of Substitution Assets and Authorised Investments, the giving of guarantees, the granting of security and any other business as the Trust Manager shall direct. The Beneficiaries: SAVY. SAVY is a charitable trust which aims to instil good financial habits in young adults throughout New Zealand. Trust Manager: BNZ Facilities Management Limited with company number 1844086 and having its registered office at Level 0, 00 Xxxxx Xxxxxx, Xxxxxxxx 0000, Xxx Xxxxxxx (BNZFML). BNZFML is a wholly owned subsidiary of BNZ. Seller: The Seller under the Programme is BNZ, which is in the business, inter alia, of originating and acquiring residential mortgage loans and conducting other banking related activities.