I This document constitutes the base prospectus of ... - Volksbank AG

(d) are payable by reason of a change in law that becomes effective more than 30 days after the relevant
payment becomes due, or is provided for and notice thereof is given in accordance with § 11
whichever occurs later; or
(e) by or on behalf of a Noteholder which would have been able to avoid such withholding or deduction
by presenting the Note to a Paying Agent in another member state of the European Union.
Any reference in these Conditions to interest and/or principal shall be deemed also to refer to any additional
amounts which may be payable under this § 6.
(2) Without tax gross-up. In the case of Notes for which according to the Final Terms (item 40) no tax
gross-up is payable, the following shall apply:
All payments of principal and interest in respect of the Notes will be made free and clear of, and without
withholding or deduction for, any taxes, duties, assessments or governmental charges of whatever nature
imposed, levied, collected, withheld or assessed under any applicable system of law or in any country
which claims fiscal jurisdiction by, or for the account of, any political subdivision thereof or government
agency therein authorized to levy taxes, unless that withholding or deduction is already or shall in the future
be required by law. In that event, the Issuer will make such deductions or withholding and pay the
amounts deducted or withheld to the competent authority.
The Issuer will not be obliged to pay any additional amounts of principal and/or interest as a result of
such deduction or withholding.
(3) Tax information. Information regarding the tax treatment of the Noteholders is contained in the base
prospectus of the EUR 3,000,000,000 debt issuance programme containing these Terms and Conditions
(the Prospectus), or, in the Final Terms (item 41). Investors with a residence in another member state
of the European Union than the Republic of Austria (the place of residence is deemed situated in such
country which has issued the passport or identity card of the person obliged to pay taxes) should be aware
that pursuant to the European Directive on the taxation of savings income, savings income may be subject
to a taxation at the source.
§ 7
(Prescription)
Claims against the Issuer for payments in respect of the Notes shall be prescribed and become void unless made
within ten years (in respect of the principal) and within three years (in respect of interest).
§ 8
(Waiver of termination. Information obligations)
(1) Waiver of termination. The Noteholders waive their ordinary right of termination of the Notes unless
these Conditions explicitly state otherwise.
§ 9
(Agents)
(1) Appointment. The Principal Paying Agent, the Paying Agent(s) and the Calculation Agent (together the
Agents) and their offices mean:
Principal Paying Agent:
The Principal Paying Agent determined in the Final Terms (item 50).
Paying Agent:
One (or more) Paying Agent(s) determined in the Final Terms (item 51).
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