5th Oct 2009 15:53
AMENDMENTS TO COVERED BOND PROGRAMME
Norwich and Peterborough Building Society
€7,000,000,000 Global Covered Bond Programme
unconditionally guaranteed as to payments of principal and interest by
Norwich and Peterborough Covered Bonds LLP (the "Programme")
The Programme has been amended (i) to oblige Norwich and Peterborough Building Society to make a Cash Capital Contribution to pre-fund the amount required to pay the interest on the Covered Bonds on the immediately following Interest Payment Date under the Covered Bonds and ancillary amendments to reflect this; (ii) the Asset Pool will not consist of any Substitution Assets and the Cash Manager or the LLP will not purchase any Substitution Assets to be included into the Asset Pool; (iii) to require the establishment of a new bank account (the CB Collection Account) and all monies in the account are held for Norwich and Peterborough Building Society and Norwich and Peterborough Covered Bonds LLP; (iv) to require the appointment of a stand-by Cash Manager and ancillary changes as a result of such appointment; (v) to appoint a standby swap provider for certain swap arrangements entered into by Norwich and Peterborough Building Society; and (vi) to provide for automatic release from security of Loans repurchased by the Seller and the consideration for the repurchase being paid to the LLP and ancillary changes as a result of the automatic release. The automatic release only applies prior to the service of a Notice to Pay or perfection of the transfer of the Loans to the LLP.
For further information, please contact
Norwich and Peterborough Building Society
Peterborough Business Park
Lynch Wood
Peterborough
PE2 6WZ
Fax : +44 (0)1733 372373
Attention: The Company Secretary
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