National Grid 2008 Annual Report Download - page 239

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 13087
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: 33
Description: EXH 2(B).6.1
0/3637.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/637/3*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 13087
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: 33 Description: EXH 2(B).6.1
0/3637.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/637/3*
be
g
innin
g
on (and includin
g
) an Interest Payment Date and endin
g
on (but excludin
g
) the next succeedin
g
Interest
Payment Date.
“Interest Period Date” means each Interest Payment Date unless otherwise specified in the relevant Final Terms.
“ISDA Definitions” means the 2006 ISDA Definitions as published by the International Swaps and Derivatives
Association, Inc., unless otherwise specified in the relevant Final Terms.
“Rate of Interest” means the rate of interest payable from time to time in respect of this Instrument and that is either
specified on, or calculated in accordance with the provisions of, the relevant Final Terms.
“Redemption Amount” means, as appropriate, the Final Redemption Amount, the Early Redemption Amount (Tax), the
Optional Redemption Amount (Call), the Optional Redemption Amount (Put), the Early Termination Amount or such other
amount in the nature of a redemption amount as may be specified in, or determined in accordance with the provisions of
the relevant Final Terms.
“Reference Banks” means, in the case of a determination of LIBOR, the principal London office of four major banks in
the London inter-bank market and, in the case of a determination of EURIBOR, the principal Euro-zone office of four
major banks in the Euro-zone inter-bank market, in each case selected by the Calculation A
g
ent or as specified in the
relevant Final Terms.
“Reference Rate” means the rate specified as such in the relevant Final Terms.
“Relevant Screen Page” means such pa
g
e, section, caption, column or other part of a particular information service as
may be specified in the relevant Final Terms.
“Specified Currency” means the currency specified as such in the relevant Final Terms or, if none is specified, the
currency in which the Instruments are denominated.
“TARGET System” means the Trans-European Automated Real-Time Gross Settlement Express Transfer
(TARGET) System or any successor to it.
33
3.12 Calculation A
g
ent
The Issuer shall procure that there shall at all times be one or more Calculation A
g
ents if provision is made for them in
the relevant Final Terms and for so lon
g
as any Instrument is outstandin
g
. Where more than one Calculation A
g
ent is
appointed in respect of the Instruments, references in these Conditions to the Calculation A
g
ent shall be construed as
each Calculation A
g
ent performin
g
its respective duties under these Conditions. If the Calculation A
g
ent is unable or
unwillin
g
to act as such or if the Calculation A
g
ent fails duly to establish the Rate of Interest for an Interest Period or
Interest Accrual Period or to calculate any Interest Amount, Instalment Amount, Final Redemption Amount, Early
Redemption Amount or Optional Redemption Amount, as the case may be, or to comply with any other requirement, the
Issuer shall (with the prior approval of the Trustee) appoint a leadin
g
bank or investment bankin
g
firm en
g
a
g
ed in the
interbank market (or, if appropriate, money, swap or over-the-counter index options market) which is most closely
connected with the calculation or determination to be made by the Calculation A
g
ent (actin
g
throu
g
h its principal London
office or any other office actively involved in such market) to act as such in its place. The Calculation A
g
ent may not
resign its duties without a successor having been appointed as specified in this paragraph.