National Grid 2008 Annual Report Download - page 242

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 55574
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: 36
Description: EXH 2(B).6.1
0/1640.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/640/1*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 55574
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: 36 Description: EXH 2(B).6.1
0/1640.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/640/1*
All Instruments in respect of which any such notice is given shall be redeemed, or the Issuer’s option shall be exercised,
on the date specified in such notice in accordance with this Condition.
In the case of a partial redemption or a partial exercise of the Issuer’s option, the notice to Instrumentholders shall also
contain the serial numbers of the Instruments to be redeemed, which shall have been drawn in such place as the Trustee
may approve and in such manner as it deems appropriate, subject to compliance with any applicable laws, listin
g
authority and stock exchange requirements.
36
Issuer’s option in relation to, all or, if so provided, some of such Instruments on any Optional Redemption Date or
Option Exercise Date, as the case may be. Any such redemption of Instruments shall be at their Optional
Redemption Amount to
g
ether with interest accrued to the date fixed for redemption. Any such redemption or
exercise must relate to Instruments of a nominal amount at least equal to the minimum nominal amount (if any)
permitted to be redeemed specified hereon and no
g
reater than the maximum nominal amount (if any) permitted
to be redeemed specified on this Instrument.
4.6 Redemption at the Option of Instrumentholders
If Put Option is specified in the relevant Final Terms, the Issuer shall, at the option of any Instrumentholder, upon such
Instrumentholder giving not less than 15 nor more than 30 days’ notice to the Issuer (or such other notice period as may
be specified on this Instrument) redeem such Instrument on the Optional Redemption Date(s) (as specified in the Final
Terms) at its Optional Redemption Amount (as specified in the Final Terms) to
g
ether with interest accrued to the date
fixed for redem
p
tion.
To exercise such option (which must be exercised on an Option Exercise Date) the holder must deposit such Instrument
with any Payin
g
A
g
ent at its specified office, to
g
ether with a duly completed option exercise notice (“Exercise Notice”) in
the form obtainable from any Paying Agent within the Instrumentholders’ Option Period (as specified in the Final Terms).
No Instrument so deposited and option exercised may be withdrawn (except as provided in the A
g
ency A
g
reement)
without the
p
rior consent of the Issuer.
4.7 Partly Paid Instruments
Partly Paid Instruments will be redeemed, whether at maturity, early redemption or otherwise, in accordance with the
provisions of this Condition and the provisions specified in the relevant Final Terms.
4.8 Redemption by Instalments
Unless previously redeemed, purchased and cancelled as provided in this Condition 4, each Instrument which provides
for Instalment Dates and Instalment Amounts will be partially redeemed on each Instalment Date at the Instalment
Amount specified in the relevant Final Terms. The outstandin
g
nominal amount of each such Instrument shall be reduced
by the Instalment Amount (or, if such Instalment Amount is calculated by reference to a proportion of the nominal amount
of such Instrument, such proportion) for all purposes with effect from the related Instalment Date, unless payment of the
Instalment Amount is improperly withheld or refused on presentation of the related Receipt, in which case, such amount
shall remain outstanding until the Relevant Date relating to such Instalment Amount.
4.9 Cancellation
All Instruments redeemed pursuant to any of the fore
g
oin
g
provisions will be cancelled forthwith to
g
ether with all
unmatured Receipts and Coupons and unexchan
g
ed Talons attached thereto. All Instruments purchased by or on behalf
of the Issuer or any of its Subsidiaries may, at the option of the Issuer be held by or may be surrendered to
g
ether with all
unmatured Recei
p
ts and Cou
p
ons