National Grid 2008 Annual Report Download - page 253

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 44894
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: 47
Description: EXH 2(B).6.1
0/2651.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/651/2*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 44894
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: 47 Description: EXH 2(B).6.1
0/2651.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/651/2*
47
Instruments or if the Global Instrument is a NGN, the Issuer will procure that details of such exchange be entered pro rata in the
records of the relevant clearing system. In this Prospectus, “Definitive Instruments” means, in relation to any Global
Instrument, the Definitive Instruments for which such Global Instrument may be exchan
g
ed (if appropriate, havin
g
attached to
them all Coupons and Receipts in respect of interest or Instalment Amounts that have not already been paid on the Global
Instrument and a Talon). Definitive Instruments will be security printed in accordance with any applicable le
g
al and stock
exchan
g
e requirements in or substantially in the form set out in the Schedules to the Trust Deed. On exchan
g
e in full of each
permanent Global Instrument, the Issuer will, if the holder so requests, procure that it is cancelled and returned to the holder
together with the relevant Definitive Instruments.
5 Exchange Date
“Exchange Date” means, in relation to a temporary Global Instrument, the day fallin
g
after the expiry of 40 days after its issue
date and, in relation to a permanent Global Instrument, a day fallin
g
not less than 60 days, or in the case of failure to pay
principal in respect of any Instruments when due 30 days, after that on which the notice requirin
g
exchan
g
e is
g
iven and on
which banks are open for business in the city in which the specified office of the Issuin
g
and Payin
g
A
g
ent is located and in the
cit
y
in which the relevant clearin
g
s
y
stem is located.
6 Amendment to Conditions
The temporary Global Instruments and permanent Global Instruments contain provisions that apply to the Instruments which
they represent, some of which modify the effect of the terms and conditions of the Instruments set out in this Prospectus. The
followin
g
is a summar
y
of certain of those
p
rovisions:
7 Payments
No payment fallin
g
due after the Exchan
g
e Date will be made on any Global Instrument unless exchan
g
e for an interest in a
permanent Global Instrument or for Definitive Instruments is improperly withheld or refused. Payments on any temporary Global
Instrument issued in compliance with the D Rules before the Exchan
g
e Date will only be made a
g
ainst presentation of
certification as to non-U.S. beneficial ownership in the form set out in the A
g
ency A
g
reement. All payments in respect of
Instruments represented by a Global Instrument will be made a
g
ainst presentation for endorsement and, if no further payment
falls to be made in respect of the Instruments, surrender of that Global Instrument to or to the order of the Issuin
g
and Payin
g
A
g
ent or such other Payin
g
A
g
ent as shall have been notified to the Instrumentholders for such purpose. If the Global
Instrument is a CGN, a record of each payment so made will be endorsed on each Global Instrument, which endorsement will
be prima facie evidence that such payment has been made in respect of the Instruments. If the Global Instrument is a NGN, the
Issuer shall procure that details of each such payment shall be entered pro rata in the records of the relevant clearin
g
system
and in the case of payments of principal, the nominal amount of the Instruments recorded in the records of the relevant clearin
g
system and represented by the Global Instrument will be reduced accordin
g
ly. Payments under the NGN will be made to its
holder. Each payment so made will discharge the Issuer’s obli
g
ations in respect thereof. Any failure to make the entries in the
records of the relevant clearin
g
s
y
stem shall not affect such dischar
g
e.
8 Prescription
Claims a
g
ainst the Issuer in respect of Instruments which are represented by a permanent Global Instrument will become void
unless it is presented for payment within a period of 10 years (in the case of principal) and five years (in the case of interest)
from the a
pp
ro
p
riate Relevant Date
(
as defined in Condition 6
)
.