Division 1 BACKGROUND

The Kingdom of Denmark (‘Denmark’) shall ensure that Vestjysk Bank A/S (‘Vestjysk’ or the ‘Bank’), implements the restructuring plan submitted on 14 June 2017.

Denmark hereby provides the following commitments (the ‘Commitments’) which are integral part of the said restructuring plan.

The Commitments shall take effect upon the date of adoption of the European Commission's (the ‘Commission’) decision approving the restructuring plan (‘Decision’).

The text of the Commitments shall be interpreted in the light of the Decision and the general framework of Union law, and by reference to Council Regulation (EU) 2015/1589^f1.

Denmark shall ensure that Vestjysk shall take the measures necessary to correctly and fully comply with the present Commitments until the end of the Restructuring Period.