Österreichische Volksbanken-Aktiengesellschaft ... - Volksbank AG

Notes. In the case of such substitution, the exchange(s), if any, on which the Notes are
then listed will be notified and a supplement to the Prospectus describing the new Issuer
will be prepared.
§ 11
(Notices)
(1) Notices. All Notices relating to the Notes will be deemed to be validly given when effected
as determined in the Final Terms (item 54). The Issuer shall ensure that all notices
are duly and to the extent legally required published and in compliance with the requirements
of the relevant authorities of each stock exchange on which the Notes are listed.
Publications relating to Notes which are mandatorily required to be published in a newspaper
in Austria will be published in the "Amtsblatt zur Wiener Zeitung", publications relating
to Notes which are mandatorily required to be published in a newspaper in Germany
will be published in the "Frankfurter Allgemeine Zeitung", unless in each case another
newspaper is specified in the Final Terms (item 54), and publications regarding
Notes which are not mandatorily required to be published in a newspaper are valid if they
may be retrieved from the website determined in the Final Terms (item 54) or if they are
forwarded to the respective Noteholder directly or via the account holding entity. Any notice
so given will be deemed to have been validly given on the date of its initial publication.
(2) Notice to the Clearing System. The Issuer has the right to substitute a newspaper publication
according to § 11 para 1 by delivering the relevant notice to the Clearing System
for communication by the Clearing System to the Noteholders, provided that, so long as
any Notes are listed on any stock exchange, the rules of such stock exchange permit such
form of notice. Any such notice shall be deemed to have been given to the Noteholders on
the seventh day after the day on which the said notice was given to the Clearing System.
§ 12
(Invalidity. Modifications)
(1) Severability clause. If at any time, any one or more of the provisions of the Notes is or
becomes invalid, illegal or unenforceable in any respect under the law of any jurisdiction,
such provision shall as to such jurisdiction, be ineffective to the extent necessary without
affecting or impairing the validity, legality and enforceability of the remaining provisions
hereof or of such provisions in any other jurisdiction. The invalid or unenforceable provision
shall be deemed replaced by such valid, legal or enforceable provision which comes
as close as possible to the original intent of the parties and the invalid, illegal or unenforceable
provision. This also applies to gaps.
(2) Modifications. The Issuer shall without consent of the Noteholders be entitled to rectify
apparent clerical errors or miscalculations or other errors contained in these Conditions,
to change and/or supplement contradictory or incomplete provisions, provided that
changes and/or supplements shall only be permissible to the extent they are, after taking
into account the interests of the Issuer, reasonable for the Noteholders, ie do not materially
impair their financial situation. No duty to publication of changes or supplements ex-
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