Division (iii)

On reprivatisation of Deutsche Pfandbriefbank AG (‘PBB’), DEPFA BANK plc (‘DEPFA plc’) and of the participations held by DEPFA plc in Hypo Public Finance Bank plc (‘HPFB’), Hypo Pfandbrief Bank International SA (‘HPBI’) and DEPFA ACS Bank plc (‘ACS’), all obligations arising from this Commitments Document will cease to apply to the reprivatised company. For the PBB sub-group only, this will apply from 31 December 2013 at the earliest. Reprivatisation will be considered to have been successful if Germany cannot directly or indirectly exercise sole or joint control within the meaning of Article 3 of the Merger Regulation (EC) No 139/2004 over the company in question (‘reprivatisation’).