National Grid 2008 Annual Report Download - page 132

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 6068
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: 36
Description: EXH 2(B).5.1
0/3515.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/515/3*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 6068
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: 36 Description: EXH 2(B).5.1
0/3515.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/515/3*
“D
2
” is the calendar day, expressed as a number, immediately followin
g
the last day included in the
Calculation Period, unless (i) that day is the last day of February but not the Maturity Date or (ii) such
number would be 31, in which case D
2
will be 30; and
“Euro-zone” means the re
g
ion comprisin
g
of member states of the European Union that adopt the sin
g
le
currency in accordance with the Treaty establishing the European Community as amended.
“Interest Accrual Period” means the period be
g
innin
g
on (and includin
g
) the Interest Commencement Date and
endin
g
on (but excludin
g
) the first Interest Period Date and each successive period be
g
innin
g
on (and includin
g
)
an Interest Period Date and ending on (but excluding) the next succeeding Interest Period Date.
“Interest Amount” means:
36
(g)
if “Actual/Actual-ICMA” is s
p
ecified in the relevant Final Terms:
(i) if the Calculation Period is equal to or shorter than the Determination Period durin
g
which it falls, the
actual number of days in the Calculation Period divided by the product of (x) the actual number of
days in such Determination Period and (y) the number of Determination Periods in any year; and
(
ii
)
if the Calculation Period is lon
g
er than one Determination Period, the sum of:
(1) the actual number of days in such Calculation Period fallin
g
in the Determination Period in which
it be
g
ins divided by the product of (a) the actual number of days in such Determination Period
and (b) the number of Determination Periods in any year; and
(2) the actual number of days in such Calculation Period fallin
g
in the next Determination Period
divided by the product of (a) the actual number of days in such Determination Period and (b) the
number of Determination Periods in an
y
y
ear,
where:
“Determination Period” means the period from and includin
g
a Determination Date in any year
to but excluding the next Determination Date; and
“Determination Date” means the date specified as such in the relevant Final Terms or, if none
is so specified, the Interest Payment Date.
(i) in respect of an Interest Accrual Period, the amount of interest payable per Calculation Amount for that
Interest Accrual Period and which, in the case of Fixed Rate Instruments, and unless otherwise specified
in the relevant Final Terms, shall mean the Fixed Coupon Amount or Broken Amount specified in the
relevant Final Terms as bein
g
payable on the Interest Payment Date endin
g
the Interest Period of which
such Interest Accrual Period forms part; and