PF Finans / Clarinova

”Redemption Date" means, in respect of any Bond to be redeemed, the date fixed for redemption pursuant to these Terms and Conditions;

"Relevant Event" occurs if:

(i) any person or persons, acting together, acquires or acquire Control of the Company; or

(ii) a public offer is made in respect of the shares of the Company and such offer has been declared

unconditional and the offer or, and any person or persons acting together with the offer or, acquire or acquires Control of the Company;

"Rules" means the legislation, rules and regulations applicable to and/or issued by Euroclear that are in force and effect from time to time;

"SLS” means Senior Life Settlement

"STIBOR' means (a) the percentage rate per annum displayed on the appropriate page of the Thomson Reuters screen (or if that page is replaced or the service ceases to be available, such other page designated by the Issuing Agent displaying that percentage rate) or (b) if such percentage rate is not available, the arithmetic mean of the rates as supplied to the Issuing Agent at its request quoted by the Reference Banks for lending in SEK in the Stockholm interbank market, in each case for a period of seven (7) days as of 10.00 a.m. (Stockholm time) on the first Banking Day of the period for which STIBOR is to apply and rounded upwards to three decimals places;. STIBOR is available on the official website of the Bank of Sweden: http://www.riksbank.se/templates/stat.aspx?id=16738ceases.

"Total Debf' the total debt of the Company on a basis as stated in the relevant financial report;

"Total Shareholders' Equity" the total shareholders' equity of the Company on a basis as stated in the relevant financial report.

2 The amount of the Bonds and undertaking to make payments

2.1 The aggregate amount of the Bonds will be an amount of EUR two hundred million (200,000,000) and will be represented by the Bonds, each of a nominal amount of EUR fifty thousand (50.000) or full multiples thereof ("Nominal Amount'). 2.2.1 The Company undertakes towill pay the principal amount of, and interest on, the Bonds on the dates and in the manner provided for herein, and to otherwise act in accordance with these Terms

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