Common use of Passporting Clause in Contracts

Passporting. If, in relation to any issue of Notes, the Issuer has agreed with the relevant Dealer(s) that the home Member State that approved the Base Prospectus will be requested to provide a certificate of approval to the competent authority of one or more host Member State(s) under Article 17 and Article 18 of the Prospectus Directive then the arrangements relating to such request (including, but not limited to, the cost of preparing any summary required pursuant to Article 19(4) of the Prospectus Directive and any translation of the summary, if such is required) will be agreed between the Issuer and the relevant Dealer(s) at the relevant time. In any such case, the Issuer undertakes that it will use all reasonable endeavours to procure the delivery of a certificate of approval by the CSSF to the competent authority in any host Member State and the European Securities and Markets Authority in accordance with Article 17 and Article 18 of the Prospectus Directive and shall promptly notify each Dealer following receipt by the Issuer of confirmation that such certificate of approval has been so delivered.

Passporting. If, in relation to any issue of NotesNotes or Covered Bonds, the Issuer has agreed with the relevant Dealer(s) that the home Member State that which approved the Base Prospectus will be requested to provide a certificate of approval to the competent authority of one or more host Member State(s) under Article 17 24 and Article 18 25 of the Prospectus Directive Regulation then the arrangements relating to such request (including, but not limited to, the preparation and cost of preparing any summary required pursuant to Article 19(4) of the Prospectus Directive and any translation of the summary, if such is requiredsummary of the Notes annexed to the applicable Final Terms for the purposes of the relevant host Member State) will be agreed between the Issuer and the relevant Dealer(s) at the relevant time. In any such case, the Issuer undertakes that it will use all reasonable endeavours to procure the delivery of a certificate of approval by the CSSF to the competent authority in any host Member State and the European Securities and Markets Authority in accordance with Article 17 24 and Article 18 25 of the Prospectus Directive Regulation and shall promptly notify each Dealer following receipt by the Issuer of confirmation that such certificate of approval has been so delivered.