Interest rate Escrow Interest Products ABN AMRO Escrow & Settlement November 2016
Inhoud 1 The interest rate for amounts in Escrow Interest Products 1 Interest Product: Escrow Flexible Deposit (EFD) 1 Interest Product: Escrow Notice Deposit 31 (END31) 1 2 Escrow Flexible Deposit Conditions (EFD) 2 3 Escrow Notice Deposit 31 Conditions (END31) 4 4 Other provisions 6
1 The interest rate for amounts in Escrow Interest Products Interest Product: Escrow Flexible Deposit (EFD) No breakage fee. The EFD interest is calculated over amounts up to a maximum of EUR 25,000,000. Interest Rate per annum for EFD as from 29th February 2016: 0%. The interest rate of EFD as applied over the previous period: 31 st December 2015 until 29 th February 2016: 0.15% The EFD product was introduced on the 31 st December 2015. Interest Product: Escrow Notice Deposit 31 (END31) The END31 interest is calculated over amounts up to a maximum of EUR 25,000,000. Pay out of an amount is 31 days after the draw down notice, compliant with the Escrow Agreement, is received. Interest rate per annum for END31 as from 9 th June 2016: 0,05% The interest rate of END31 as applied over the previous period: 29 th February 2016 until 9 th June 2016: 0.10%. 31 st December 2015 until 29 th February 2016: 0.35% The END31 product was introduced on the 31 st December 2015. Questions Call your Escrow Account Manager or your Escrow Contract Manager at + 31 (0)10-4015856 or mail us at: escrow-settlement@nl.abnamro.com 1
2 Escrow Flexible Deposit Conditions (EFD) What is an Escrow Flexible Deposit? An Escrow Flexible Deposit is a business savings account up to a maximum of EUR 25,000,000. This savings account is linked to the escrow account. A maximum of EUR 25,000,000 applies to the total amounts that are allowed to be held jointly in an Escrow Flexible Deposit or an Escrow Notice Deposit 31. Conditions and Definitions a. The provisions from the applicable escrow agreement govern the relationship between the customer and the bank. b. In these conditions the term Nominated Account refers to the escrow account mentioned in the escrow agreement. Deposits into your Escrow Flexible Deposit The bank will make deposits on the basis of the conditions as set out in the applicable escrow agreement by transferring an amount in euros from a nominated account to the Escrow Flexible Deposit. Withdrawals from your Escrow Flexible Deposit a. Instructions for withdrawals from an Escrow Flexible Deposit can be given at all times, with due regard to the conditions in the escrow agreement. Interest on your Escrow Flexible Deposit a. The interest rate applicable to the Escrow Flexible Deposit can be changed by the bank at any time and can be negative. The balance of the account can decrease due negative interest charges. The current interest rate is available on abnamro.com/escrow. b. The maximum EFD balance is EUR 25,000,000. c. The bank will inform you of any interest rate changes in one of the following ways: an announcement on abnamro.com/escrow a written or electronic message to you. d. Interest is calculated for the days that the money is held in the Escrow Flexible Deposit. e. Interest is payable or charged every three months on 31 March, 30 June, 30 September and 31 December. f. The Escrow Flexible Deposit may not be included in an interest and/or balance netting agreement. 2
Closing the Escrow Flexible Deposit a. The Escrow Flexible Deposit will be closed when the escrow agreement ends. b. After closure of the account, the interest is calculated and payable in the first half of the following month. Other provisions a. The Escrow Flexible Deposit is not a payment account. b. The bank may change these conditions at any time. The bank will inform you in advance of any changes in one of the following ways: an announcement on abnamro.com/escrow a written or electronic message. 3
3 Escrow Notice Deposit 31 Conditions (END31) What is an Escrow Notice Deposit 31? An Escrow Notice Deposit 31 is a long-term business savings account for balances up to a maximum of EUR 25,000,000. This savings account is linked to the escrow account. Withdrawals from an Escrow Notice Deposit 31 are subject to 31 days notice. This means that a withdrawal from the Escrow Notice Deposit 31 only takes place 31 days after the instruction is received in compliance with the Escrow Agreement. However, money can be deposited into the Escrow Notice Deposit 31 at any time under the escrow agreement. A maximum of EUR 25,000,000 applies to the total amounts that are allowed to be held jointly in an Escrow Notice Deposit 31 or an Escrow Flexible Deposit. Conditions and Definitions a. The provisions from the applicable escrow agreement govern the relationship between the customer and the bank. b. In these conditions the term Nominated Account refers to the escrow account mentioned in the escrow agreement. Opening the Escrow Notice Deposit 31 An Escrow Notice Deposit 31 is an account with withdrawal restrictions that can be linked to a nominated account. The bank will open an Escrow Notice Deposit 31 and link this account to the nominated account at the request of parties to an escrow agreement. Deposits into the Escrow Notice Deposit 31 The bank will make deposits on the basis of the conditions as set out in the applicable escrow agreement by transferring an amount in euros from a nominated account to the Escrow Notice Deposit 31. Withdrawals from the Escrow Notice Deposit 31 a. The Escrow Agent must receive the withdrawal instruction 31 days before the withdrawal is to take place in accordance with the applicable conditions from the escrow agreement. The withdrawable amount will continue to earn or to be charged interest during the notice period of 31 days. b. After 31 days the amount is transferred to the linked nominated account in conformity with the conditions of the escrow agreement. c. A maximum of 2 withdrawal instructions can be submitted at one time. After one of these withdrawals has taken place, a new instruction can be submitted. d. The execution of every withdrawal instruction for an Escrow Notice Deposit 31 is subject to 31 days notice. It is not possible to gain access to the whole or part of the available balance within a shorter term. 4
Interest on the Escrow Notice Deposit 31 a. The interest rate applicable to the Escrow Notice Deposit 31 can be changed by the bank at any time and can be negative. The balance of the account can decrease due negative interest charges. The current interest rate is available on abnamro.nl/escrow. b. The maximum END31 balance is EUR 25,000,000. c. The bank will inform you of any interest rate changes in one of the following ways: an announcement on abnamro.com/escrow a written or electronic message to you. d. Interest is calculated for the days that the money is held in the Escrow Notice Deposit 31. e. Interest is payable or charged annually on 31 December. f. The Escrow Notice Deposit 31 may not be included in an interest and/or balance netting agreement. Closing the Escrow Notice Deposit 31 a. The Escrow Notice Deposit 31 will be closed when the escrow agreement ends. b. Any remaining savings balance in the Escrow Notice Deposit 31 will be transferred by the bank to the nominated account 31 days after the closure of the Escrow Notice Deposit 31. c. After closure of the account, the interest is payable in the first half of the following month. Other provisions a. The Escrow Notice Deposit 31 is not a payment account. b. The bank may change these conditions at any time. The bank will inform you in advance of any changes in one of the following ways: an announcement on abnamro.com/escrow a written or electronic message. 5
4 Other provisions ABN AMRO Bank N.V. is established at Gustav Mahlerlaan 10 (1082 PP), Amsterdam, the Netherlands. ABN AMRO Bank N.V. has a banking license from the Dutch central bank (De Nederlandsche Bank N.V.) and is listed in the register of the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten/AFM) under number 12020215. ABN AMRO Bank N.V. is licensed to offer savings products. ABN AMRO Bank N.V. is listed in the Trade Register of the Amsterdam Chamber of Commerce under number 34334259. The VAT identification number of ABN AMRO Bank N.V. is NL 820646660B01 6