Österreichische Volksbanken-Aktiengesellschaft ... - Volksbank AG

(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 do not explicitly state otherwise.
(2) Covered Notes. If bankruptcy proceedings are opened against the Issuer by a competent
Austrian court, the Covered Notes (but no other Notes) will, subject to the following sentence,
not become due and payable in the event that the relevant pool of cover assets has
been transferred to an appropriate credit institution and the Noteholder may enforce its
claim under the Notes up to the shortfall (or estimated shortfall, as the case may be) by
which such claims are not covered by the liquidation proceeds of the respective relevant
pool of cover assets. Where the respective pool of cover assets is not transferred to another
credit institution in accordance with Austrian law, and provided the assets listed in
the relevant register are not sufficient to satisfy the claims of all Noteholders, the relevant
pool of cover assets for the Notes will be liquidated upon application by the special administrator
for the pool of cover assets and approval by the competent bankruptcy court,
and the Notes will be deemed to be due and payable by operation of applicable law.
(3) Supplementary capital. In the case of Supplementary Capital Notes or Subordinated
Supplementary Capital Notes, the Issuer will give notice to the Noteholders in accordance
with § 11 in case payment of interest can not be made in full or in case the Notes shared
in net losses of the Issuer. Such notice shall be given after the annual accounts of the Issuer
have been determined which state the amount of interest payable and/or that the
Notes share, or continue to share, in net losses of the Issuer.
§ 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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