National Grid 2008 Annual Report Download - page 109

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 62704
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-2.B.5.1, Doc: 4, Page: 13
Description: EXH 2(B).5.1
0/2492.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/492/2*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 62704
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-2.B.5.1, Doc: 4, Page: 13 Description: EXH 2(B).5.1
0/2492.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/492/2*
13
Treas. Reg. §1.163-5(c)(2)(i)(D) (the “D Rules”) unless (a) the relevant Final
Terms states that Instruments are issued in compliance with U.S. Treas. Re
g
.
§1.163-5(c)(2)(i)(C) (the “C Rules”) or (b) the Instruments are issued other than in
compliance with the D Rules or the C Rules but in circumstances in which the
Instruments will not constitute “registration required obligations” under the United
States Tax Equity and Fiscal Responsibility Act of 1982 (“TEFRA”), which
circumstances will be referred to in the relevant Final Terms as a transaction to
which TEFRA is not applicable.
Terms and Conditions The Terms and Conditions applicable to each Series will be as a
g
reed between
the relevant Issuer, the Trustee and the relevant Dealer(s) or other subscriber at or
prior to the time of issuance of such Series and will be specified in the relevant
Final Terms. The Terms and Conditions applicable to each Series will therefore be
those as set out in “Terms and Conditions of the Instruments” below as
supplemented, modified or replaced by the relevant Final Terms.