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Division 12 Dexia’s recourse to the funding guarantee, as extended by the addendum of 14 October 2009 (‘the Guarantee’) shall be limited under the following conditions:

United Kingdom

Original text. Later amendments are not shown.

  1. (a)

    The possibility for Dexia to make use of the Guarantee shall be ended for all deposit contracts concluded as from 31 March 2010;

  2. (b)

    The possibility for Dexia to make use of the funding Guarantee shall be ended for all short-term issues (at less than one year) as from 31 May 2010;

  3. (c)

    The possibility for Dexia to make use of the funding Guarantee shall be ended for all issues floated or contracts concluded as from 30 June 2010;

  4. (d)

    The total outstanding amounts guaranteed may at no time exceed EUR 100 billion;

  5. (e)

    During the period covered by the guarantee, Dexia shall pay the States additional remuneration on any amount exceeding the following thresholds of outstanding amounts guaranteed:

    Threshold/tranche (outstandings guaranteed in EUR billion)[60-70][70-80][80-100]
    Additional remuneration for excess in basis points+ 50+ 65+ 80