Common use of Increase in Authorized Amount Clause in Contracts

Increase in Authorized Amount. 12.1 The Bank and the Guarantor LP may, from time to time, by giving ten days' notice by letter to each of the Dealers (with a copy to the other Paying Agents and the Registrars), increase the Authorized Amount. 12.2 Notwithstanding the provisions of Section 12.1 above, no increase shall be effective unless and until (a) each of the Dealers shall have received in form, number and substance reasonably satisfactory to each such Dealer, such documents and confirmations as such Dealer may reasonably request including, without limitation, Auditors' letters and any supplemental or updated Prospectus as required by the Commission and (b) the Bank and the Guarantor LP shall have complied with all legal and regulatory requirements necessary for the issuance of, and performance of obligations under, Covered Bonds up to such new Authorized Amount and upon such increase taking effect, all references in this Agreement to the Authorized Amount being in a certain principal amount shall be to the increased principal amount.

Increase in Authorized Amount. 12.1 The Bank and the Guarantor LP may, from time to time, by giving ten days' notice by letter to each of the Dealers (with a copy to the other Paying Agents and the Registrars), increase the Authorized Amount. 12.2 Notwithstanding the provisions of Section 12.1 ‎12.1 above, no increase shall be effective unless and until (a) each of the Dealers shall have received in form, number and substance reasonably satisfactory to each such Dealer, such documents and confirmations as such Dealer may reasonably request including, without limitation, Auditors' letters and any supplemental or updated Prospectus as required by the Commission and (b) the Bank and the Guarantor LP shall have complied with all legal and regulatory requirements necessary for the issuance of, and performance of obligations under, Covered Bonds up to such new Authorized Amount and upon such increase taking effect, all references in this Agreement to the Authorized Amount being in a certain principal amount shall be to the increased principal amount.