INDEX OF DEFINED TERMS - Banca di Legnano

Level: 2 – From: 2 – Wednesday, July 21, 2010 – 12:23 – eprint6 – 4247 Section 09
Additional Terms and Conditions for Fund Linked Notes
(i)
(ii)
(iii)
require the Calculation Agent, in its sole and absolute discretion, to determine the appropriate
adjustment(s), if any, to be made to any one or more of the terms of the Terms and
Conditions and/or the applicable Final Terms to account for the De-Listing, Merger Event,
Tender Offer, Nationalization, Insolvency, or Material Underlying Event, as the case may be,
and determine the effective date(s) of that adjustment(s). The Calculation Agent may (but
need not) determine the appropriate adjustment(s) by reference to the adjustment(s) in respect
of the De-Listing, Merger Event, Tender Offer, Nationalization, Insolvency, or Material
Underlying Event made by any options exchange to options on the relevant Fund Share
traded on that options exchange;
give notice to the Noteholders in accordance with Condition 14, and redeem all, but not less
than all, of the Notes, each nominal amount of Notes equal to the Specified Denomination
being redeemed at the Early Redemption Amount; or
following such adjustment to the settlement terms of options on the Fund Shares traded on
such exchange(s) or quotation system(s) as the Issuer in its sole discretion shall select (the
“Options Exchange”), require the Calculation Agent to make a corresponding adjustment to
any one or more of the terms of the Terms and Conditions and/or the applicable Final Terms,
which adjustment will be effective as of the date determined by the Calculation Agent to be
the effective date of the corresponding adjustment made by the Options Exchange. If options
on the Fund Shares are not traded on the Options Exchange, the Calculation Agent will make
such adjustment, if any, to any one or more of the terms of the Terms and Conditions and/or
the applicable Final Terms as the Calculation Agent in its sole and absolute discretion
determines appropriate, with reference to the rules and precedents (if any) set by the Options
Exchange to account for the Merger Event, Tender Offer, De-listing, Nationalization,
Insolvency, or Material Underlying Event, as the case may be, that in the determination of the
Calculation Agent would have given rise to an adjustment by the Options Exchange if such
options were so traded.
Upon the occurrence of a Merger Event, Tender Offer, De-listing, Nationalization, Insolvency, or
Material Underlying Event, the Issuer shall give notice as soon as practicable to the Noteholders in
accordance with Condition 14 stating the occurrence of the Merger Event, Tender Offer, Nationalization,
De-listing, Insolvency, or Material Underlying Event, as the case may be, giving details thereof and the
action proposed to be taken in relation thereto provided that any failure to give, or non-receipt of, such
notice will not affect the validity of any such Merger Event, Tender Offer, De-listing, Nationalization, or
Insolvency, as the case may be.
12. Additional Disruption Events
(a)
“Additional Disruption Event” means any of Change in Law, Hedging Disruption and/or
Increased Cost of Hedging, in each case if specified in the applicable Final Terms.
“Change in Law” means that, on or after the Trade Date (i) due to the adoption of or any change in
any applicable law or regulation (including, without limitation, any tax law), or (ii) due to the
promulgation of or any change in the interpretation by any court, tribunal or regulatory authority with
competent jurisdiction of any applicable law or regulation (including any action taken by a taxing
authority), the Calculation Agent determines in its sole and absolute discretion that (A) it has become
illegal to hold, acquire, or dispose of any relevant Fund Share or (B) it will incur a materially increased
cost in performing its obligations in relation to the Fund Linked Notes (including, without limitation, due
to any increase in tax liability, decrease in tax benefit or other adverse effect on the tax position of the
Issuer and/or any of its affiliates).
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