pdf, 1996K - WestLB

Events of Default in Relation to
Subordinated Notes:
Cross Default in Relation to
Notes:
Status of the Unsubordinated
Notes:
Status of the Subordinated
Notes:
Status of InterNotes:
Negative Pledge:
Governing Law:
Place of Performance and Place
of Jurisdiction:
Representation of Holders:
days after the commencement thereof, or the Issuer institutes such
proceedings or suspends payments or offers or makes a general
arrangement for the benefit of all its creditors; or
• the Issuer goes into liquidation unless such liquidation is to take place in
connection with a merger, consolidation or other combination with any
other company and such company assumes all obligations of the Issuer
arising under the Terms and Conditions of the Instruments.
The terms and conditions of Subordinated Notes will not provide for any events
of default.
The terms and conditions of Notes will not contain a cross default provision.
The Unsubordinated Notes will constitute direct, unconditional, unsecured and
unsubordinated obligations of the Issuer, ranking pari passu among themselves
and pari passu with all other unsecured and unsubordinated present and future
obligations of the Issuer unless such other obligations take priority by
mandatory provisions of law.
The Subordinated Notes will constitute direct, unconditional, unsecured and
subordinated obligations of the Issuer, ranking pari passu among themselves
and pari passu with all other unsecured and subordinated present or future
obligations of the Issuer. In the event of the dissolution, liquidation, insolvency,
composition or other proceedings for the avoidance of insolvency of, or against,
the Issuer, such obligations will be subordinated to the claims of all
unsubordinated creditors of the Issuer so that in any such event no amounts shall
be payable under such obligations until the claims of all unsubordinated
creditors of the Issuer shall have been satisfied in full. No holder may set off his
claims arising under the Subordinated Notes against any claims of the Issuer. No
contractual security of whatever kind is, or shall at any time be, provided by the
Issuer or any other person securing rights of the holders of such Subordinated
Notes. Any such contractual security that, notwithstanding the aforementioned,
may have been provided in the past or will be provided in the future by the
Issuer or any third party shall not secure the claims arising from the Notes. No
subsequent agreement may limit the subordination pursuant to the provisions set
out in § 2 of the Terms and Conditions of the Instruments or amend the maturity
date of the Subordinated Notes to any earlier date or shorten any applicable
notice period. If the Subordinated Notes are redeemed before the maturity date
otherwise than set out in § 2 of the Terms and Conditions of the Instruments or,
as a result of an early redemption for taxation reasons or repurchased by the
Issuer otherwise than in accordance with the provisions of § 10 (5a) sentence 6
of the German Banking Act (Gesetz über das Kreditwesen), the amounts paid or
repaid must be returned to the Issuer irrespective of any agreement to the
contrary unless the amounts paid or repaid have been replaced by other liable
capital (haftendes Eigenkapital) of at least equal status within the meaning of
the German Banking Act, or the German Federal Finacial Supervisory Authority
(Bundesanstalt für Finanzdienstleistungsaufsicht; the BaFin) has consented to
such redemption or repurchase.
InterNotes will be issued on an unsubordinated basis.
The terms and conditions of the Instruments will not contain a negative pledge
provision.
The Instruments (other than Credit Linked Notes which will be governed by
English law) will be governed by German law.
Place of performance and place of jurisdiction in relation to the Instruments is
Düsseldorf, Germany.
The terms and conditions of the Instruments will not contain a provision for the
representation of holders of the Instruments.
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