National Grid 2008 Annual Report Download - page 244

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 36274
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: 38
Description: EXH 2(B).6.1
0/1642.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/642/1*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 36274
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: 38 Description: EXH 2(B).6.1
0/1642.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/642/1*
In addition, the Issuer shall forthwith appoint a Payin
g
A
g
ent in New York City in respect of any Instruments denominated
in U.S. dollars in the circumstances described in Condition 5.2.
Notice of any such chan
g
e or any chan
g
e of any specified office shall promptly be
g
iven to the Instrumentholders in
accordance with Condition 13.
38
that the Issuer is able to do so and not provided for by the fore
g
oin
g
provisions of this Condition 5.4, a Payin
g
A
g
ent with
a specified office in a European Union member state that will not be obli
g
ed to withhold or deduct tax pursuant to any law
implementin
g
European Council Directive 2003/48/EC or any other Directive implementin
g
the conclusions of the
ECOFIN Council meeting of 26-27 November 2000. As used in these Conditions, the terms “Issuing and Paying
Agent”, “Calculation Agent”, and “Paying Agent” include any additional or replacement Issuin
g
and Payin
g
A
g
ent,
Calculation Agent or Paying Agent appointed under this Condition.
5.5 Unmatured Coupons and Receipts and unexchanged Talons
5.5.1 Unless the Instrument provides that the relevant Coupons are to become void upon the due date for redemption
of those Instruments, Instruments should be surrendered for payment to
g
ether with all unmatured Coupons (if
any) appertainin
g
to them, failin
g
which an amount equal to the face value of each missin
g
unmatured Coupon
(or, in the case of payment not bein
g
made in full, that proportion of the amount of such missin
g
unmatured
Coupon that the sum of principal so paid bears to the total principal due) will be deducted from the Final
Redemption Amount, Early Redemption Amount or Optional Redemption Amount, as the case may be, due for
payment. Any amount so deducted shall be paid in the manner mentioned above a
g
ainst surrender of such
missin
g
Coupon within a period of 10 years from the Relevant Date for the payment of such principal (whether or
not such Coupon has become void pursuant to Condition 7).
5.5.2 If the relevant Instrument so provides, upon the due date for redemption of any Instrument, unmatured Coupons
relatin
g
to such Instrument (whether or not attached) shall become void and no payment shall be made in respect
of them.
5.5.3 If the relevant Instrument so provides, upon the due date for redemption of any Instrument, any unexchan
g
ed
Talon relatin
g
to such Instrument (whether or not attached) shall become void and no Coupon shall be delivered
in respect of such Talon.
5.5.4 Upon the due date for redemption of any Instrument which is redeemable in instalments, all Receipts relatin
g
to
such Instrument havin
g
an Instalment Date fallin
g
on or after such due date (whether or not attached) shall
become void and no
p
a
y
ment shall be made in res
p
ect of them.
5.5.5 Where any Instrument which provides that the relevant Coupons are to become void upon the due date for
redemption of those Instruments is presented for redemption without all unmatured Coupons and any
unexchan
g
ed Talon relatin
g
to it, and where any Instrument is presented for redemption without any
unexchan
g
ed Talon relatin
g
to it, redemption shall be made only a
g
ainst the provision of such indemnity as the
Issuer may require.
5.5.6 If the due date for redemption of any Instrument is not a due date for payment of interest, interest accrued from
the precedin
g
due date for payment of interest or the Interest Commencement Date, as the case may be, shall
only be payable a
g
ainst presentation (and surrender if appropriate) of the relevant Instrument. Interest accrued
on an Instrument that only bears interest after its Maturity Date shall be payable on redemption of that Instrument
against presentation of that Instrument.