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Euro 6,000,000,000 Euro Medium Term Note Programme Due from ...

Euro 6,000,000,000 Euro Medium Term Note Programme Due from ...

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Summary of Dealer Agreement<br />

SUBSCRIPTION AND SALE<br />

Subject to the terms and on the conditions contained in a dealer agreement dated 11 June 2013 (the "Dealer<br />

Agreement") between the Issuer, the Permanent Dealers (being all Dealers other than those appointed as<br />

such solely in respect of one or more specified Tranches), and the Arranger, the <strong>Note</strong>s will be offered on a<br />

continuous basis by the Issuer to the Permanent Dealers. However, the Issuer has reserved the right to sell<br />

<strong>Note</strong>s directly on its own behalf to Dealers that are not Permanent Dealers. The <strong>Note</strong>s may be resold at<br />

prevailing market prices, or at prices related thereto, at the time of such resale, as determined by the relevant<br />

Dealer. The <strong>Note</strong>s may also be sold by the Issuer through the Dealers, acting as agents of the Issuer. The<br />

Dealer Agreement also provides for <strong>Note</strong>s to be issued in syndicated Tranches that are jointly and severally<br />

underwritten by two or more Dealers.<br />

The Issuer will pay each relevant Dealer a commission as agreed between them in respect of <strong>Note</strong>s<br />

subscribed by it. The Issuer has agreed to reimburse the Arranger for its expenses incurred in connection<br />

with the <strong>Programme</strong> and the Dealers for certain of their activities in connection with the <strong>Programme</strong>.<br />

The Issuer has agreed to indemnify the Dealers against certain liabilities in connection with the offer and<br />

sale of the <strong>Note</strong>s. The Dealer Agreement entitles the Dealers to terminate any agreement that they make to<br />

subscribe <strong>Note</strong>s in certain circumstances prior to payment for such <strong>Note</strong>s being made to the Issuer.<br />

Selling Restrictions<br />

General<br />

These selling restrictions may be modified by the agreement of the Issuer and the Dealers following a<br />

change in a relevant law, regulation or directive. Any such modification or supplement will be set out in a<br />

supplement to the Base Prospectus.<br />

No action has been taken in any jurisdiction that would permit an offer to the public of any of the <strong>Note</strong>s, or<br />

possession or distribution of the Base Prospectus or any other offering material or any Final <strong>Term</strong>s, in any<br />

country or jurisdiction where action for that purpose is required.<br />

Each Dealer has agreed, and each further Dealer appointed under the <strong>Programme</strong> will be required to agree,<br />

that it will, to the best of its knowledge, comply with all relevant laws, regulations and directives in each<br />

jurisdiction in which it purchases, offers, sells or delivers <strong>Note</strong>s or has in its possession or distributes the<br />

Base Prospectus, any other offering material or any Final <strong>Term</strong>s and neither the Issuer nor any other Dealer<br />

shall have responsibility therefor.<br />

Each of the Dealers and the Issuer has represented and agreed, and each further Dealer appointed under the<br />

<strong>Programme</strong> will be required to represent and agree, that Materialised <strong>Note</strong>s may only be issued outside<br />

France.<br />

<strong>Euro</strong>pean Economic Area<br />

In relation to each Member State of the <strong>Euro</strong>pean Economic Area that has implemented the Prospectus<br />

Directive (each a "Relevant Member State"), each Dealer has represented and agreed, and each further<br />

Dealer appointed under the <strong>Programme</strong> will be required to represent and agree, that with effect <strong>from</strong> and<br />

including the date on which the Prospectus Directive is implemented in that Relevant Member State (the<br />

"Relevant Implementation Date") it has not made and will not make an offer of <strong>Note</strong>s which are the<br />

subject of the offering contemplated by this Base Prospectus as completed by the Final <strong>Term</strong>s in relation<br />

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