National Grid 2008 Annual Report Download - page 216

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 8432
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-2.B.6.1, Doc: 6, Page: 10
Description: EXH 2(B).6.1
0/2614.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/614/2*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 8432
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-2.B.6.1, Doc: 6, Page: 10 Description: EXH 2(B).6.1
0/2614.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/614/2*
10
Instruments — Events of Default”.
Early Redemption Except as provided in “Optional Redemption” and “Redemption” above,
Instruments will be redeemable at the option of the Issuer prior to maturity only for
tax reasons. See “Terms and Conditions of the Instruments — Redemption,
Purchase and Options”.
Withholding Tax All payments of principal and interest in respect of the Instruments, Receipts and
Coupons will be made free and clear of withholdin
g
taxes of the United States of
America or any political sub-division of the United States of America or any
authority in or of the United States of America havin
g
power to tax, unless
compelled by law. In that event, the Issuer will, subject to customary exceptions
(includin
g
the standard EU exceptions), pay such additional amounts as will result
in the payment to the Instrumentholders, Receiptholders or Couponholders of the
amounts which would otherwise have been received in respect of the Instruments,
Receipts and Coupons had no withholdin
g
or deduction been made, all as
described in “Terms and Conditions of the Instruments — Taxation”.
Governing Law English
Listing Each Series may be admitted to the Official List and admitted to tradin
g
on the
Market and/or admitted to listin
g
, tradin
g
and/or quotation by any other listin
g
authority, stock exchan
g
e and/or quotation system as may be a
g
reed between the
Issuer and the relevant Dealer(s) and specified in the relevant Final Terms or may
be unlisted.
Ratings Tranches of Instruments (as defined in “Overview of the Programme”) may be
rated or unrated. Where a Tranche of Instruments is rated, such ratin
g
will be
specified in the relevant Final Terms. A ratin
g
is not a recommendation to buy, sell
or hold securities and may be subject to suspension, reduction or withdrawal at
any time by the assigning rating agency.
Selling Restrictions United States, United Kin
g
dom, European Economic Area (in the case of unlisted
Instruments) and Japan. See “Plan of Distribution”.
Cate
g
ory 3 sellin
g
restrictions will apply to the Instruments for the purposes of
Regulation S under the Securities Act.
The Instruments will be issued in compliance with U.S. Treas. Reg. §1.163-5(c)(2)
(i)(D) (the “D Rules”) unless the Instruments are issued other than in compliance
with the D 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.