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Division (11) For any sale performed to comply with the sale or divestment commitments included in this document, the Hellenic Republic commits that:

United Kingdom

Original text. Later amendments are not shown.

  1. (a)

    The Purchaser shall be independent of and unconnected to the Bank;

  2. (b)

    For the purpose of acquiring the Divestment Business, the Purchaser shall not be financed directly or indirectly by the Bankf1;

  3. (c)

    The Bank shall, for a period of 5 years after the closing of the sale, not acquire direct or indirect influence over the whole or part of the Divestment Business without a pre-approval from the Commission.

Annotations

Footnotes

f1

This does not apply to the sale of real estate, in which case the Bank can provide financing to the Purchaser, if this new lending is performed in line with prudent lending practice. For the purpose of verifying the compliance with the commitment on deleveraging of non-Greek assets, any new lending falling in the defining of non-Greek assets will be taken into account.

Notes on Division

Footnotes

f1

Council Regulation (EC) No 659/1999 of 22 March 1999 laying down detailed rules for the application of Article 108 of the treaty on the functioning of the European Union (OJ L 83, 27.3.1999, p.1).