EUR 3000000000 debt issuance programme, 10 ... - Volksbank AG

§ 13
(Further Issues)
The Issuer reserves the right from time to time, without the consent of the Noteholders to issue additional notes
with identical terms and conditions as the Notes (with the exception of previous interest payments, as the case
may be) in all respects so as to be consolidated and form a single series with such Notes. The term “Notes” shall,
in the event of such further issue, also comprise such further Notes.
§ 14
(Compartment Assets. Limited Recourse)
(1) Notwithstanding any other provision of these Conditions, any liability of the Issuer to make payments
under the Notes shall be limited to the funds available to the Issuer from time to time in respect
of the assets designated as Compartment Assets in Part B No. 9 of the Final Terms, and the
Issuer shall have no liability to make any payments under the Notes where such funds are not
available to it, provided that:
(a) where such Compartment Assets are designated as debt instruments, such as senior or subordinated
bonds (i.e. "Subordinated Notes", "Supplementary Capital Notes" or "Subordinated
Supplementary Capital Notes"), debentures, money-market instruments, bank deposits or
any other interest bearing or non-interest bearing financial instruments, (the “Debt Instruments”),
the following information shall be provided in Part B No. 9 of the Final
Terms:
- the obligor of such Debt Instrument (provided that such obligor shall be an Eligible
Obligor of the Main Compartment Asset);
- a description of such Debt Instrument, including (to the extent applicable) such
Debt Instrument’s ISIN Number, nominal amount, subscription price, coupon,
term, maturity date and redemption amount.
“Eligible Obligor of the Main Compartment Asset” shall mean in respect of Debt Instruments:
(1) VBAG; or
(2) any other Austrian credit institution within the meaning of § 1(1)(9) or § 1(1)(10) of
the Austrian Banking Act (or any other credit institution incorporated and duly licensed in
the European Economic Area), provided that either:
(i) the relevant Debt Instruments qualify as non-equity securities issued in a continuous
or repeated manner which:
- are not subordinated, convertible or exchangeable;
- do not give a right to subscribe to or acquire other types of securities and are not
linked to a derivative instrument;
- materialise reception of repayable deposits; and
- are either covered by a deposit guarantee scheme under Directive 94/19/EC, or
where the total consideration of the offer is less than € 50,000,000, which limit
shall be calculated over a period of twelve months
(or are otherwise exempt from the obligation to publish a prospectus pursuant to
§ 3 (1) Z 3 of the Austrian Capital Markets Act); or
(ii) such credit institution has securities already admitted to trading on a regulated or
equivalent market (provided that Part B No. 9 of the Final Terms shall specify the
name, address, country of incorporation, nature of business and name of the market in
which its securities are admitted); or
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