Österreichische Volksbanken-Aktiengesellschaft ... - Volksbank AG

Early Redemption Amount for the Certificates to the creditors or arrange such payment in
accordance with the relevant tax provisions or other statutory or administrative provisions
and in accordance with these Conditions and the provisions of the relevant Final Terms.
The creditors have to bear taxes or fees for early redemption and the Issuer does not undertake
any liability in this respect.
Whereby:
Change of law means that due to (A) the entry into force of changes of the laws or regulations
(including but not limited to tax provisions), or (B) changes of the interpretation of
decisions of courts or administrative bodies, which are relevant for the respective laws or
regulations (including the opinion of tax authorities), the Issuer determines that (Y) the
holding, purchase or sale of the Underlyings relevant for the Certificates has become illegal,
or (Z) the costs, which are linked to the obligations under the Certificates have increased
substantially (including but not limited to increases of the tax burden, the decrease
of tax benefits or other negative effects on such tax treatment), given that such
changes are effective on or after the issue date.
Hedging-Disruption shall mean that the Issuer is in no position, upon application of economically
reasonable efforts, (A) to conclude, continue or settle transactions and purchase,
exchange, hold or sell assets respectively, which the Issuer deems necessary for the
hedging of price risks related to the Underlying (or several thereof) with regard to its obligations
under the respective Certificates deemed necessary, or the Issuer (B) is in no position
to realise, recover or forward the proceeds of the transactions and assets respectively;
and
Increased Hedging-Costs means that the Issuer has to pay a substantially higher amount
(in comparison to the issue date) of taxes, charges, expenditures and fees (excluding brokerage
fees) in order to (A) conclude, continue or settle transactions and purchase, exchange,
hold or sell assets respectively, which the Issuer deems necessary for the hedging
of price risks related to the Underlying (or several thereof) with regard to its obligations
under the respective Certificates deemed necessary, or the Issuer (B) is in no position to
realise, recover or forward the proceeds of the transactions and assets respectively, under
the condition that amounts which have only increased due to the fact that the creditworthiness
of the Issuer has decreased are not regarded as Increased Hedging Costs.
(5) Early redemption by the Certificate Holder. If provided for in the Final Terms (item
19), the Issuer has, if a Certificate Holder gives notice to the Issuer of his respective intention
at least 15 and not more than 30 days (or within another notice period determined
in the Final Terms [item 19(ii)]) in advance, to repay the respective Certificates on each
early redemption date (item 19(i) of the Final Terms) (each an Early Redemption Date)
at its Early Redemption Amount (as defined below) plus interest accrued. To exercise this
right, the Certificate Holder has to deliver a properly completed exercise notice in the
form available at the office of the Paying Agent or the Issuer. A revocation of the exercise
of this right is not possible.
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