National Grid 2008 Annual Report Download - page 255

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 3753
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: 49
Description: EXH 2(B).6.1
0/1653.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/653/1*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 3753
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: 49 Description: EXH 2(B).6.1
0/1653.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/653/1*
49
15 Trustee’s Powers
In considerin
g
the interests of Instrumentholders while any Global Instrument is held on behalf of a clearin
g
system, the
Trustee may have re
g
ard to any information provided to it by such clearin
g
system or its operator as to the identity (either
individually or by cate
g
ory) of its accountholders with entitlements to such Global Instrument and may consider such interests
as if such accountholders were the holders of the Instruments re
p
resented b
y
such Global Instrument.
16 Events of Default
Each Global Instrument provides that the Trustee, at its discretion, may, and if so requested by holders of at least one-quarter
in nominal amount of the Instruments then outstandin
g
or if so directed by an Extraordinary Resolution, shall cause such
Global Instrument to become due and repayable in the circumstances described in Condition 8 by statin
g
in the notice to the
Issuer the principal amount of such Global Instrument which is becomin
g
due and repayable. If principal in respect of any
Instrument is not paid when due, only the Trustee may enforce the ri
g
hts of the Instrumentholders a
g
ainst such Issuer under
the terms of the Trust Deed unless the Trustee, havin
g
become bound to proceed, fails to do so within a reasonable time and
such failure is continuing.
17 Notices
So lon
g
as any Instruments are represented by a Global Instrument and such Global Instrument is held on behalf of a clearin
g
system, notices to the holders of Instruments of that Series may be
g
iven by delivery of the relevant notice to that clearin
g
system for communication by it to entitled accountholders in substitution for publication as required by the Conditions or by
deliver
y
of the relevant notice to the holder of the Global Instrument.
18 Partly Paid Instruments
The provisions relatin
g
to Partly Paid Instruments are not set out in this Prospectus, but will be contained in the relevant Final
Terms and so in the Global Instruments. While any instalments of the subscription moneys due from the holder of Partly Paid
Instruments are overdue, no interest in a Global Instrument representin
g
such Instruments may be exchan
g
ed for an interest in
a permanent Global Instrument or for Definitive Instruments (as the case may be). If any Instrumentholder fails to pay any
instalment due on any Partly Paid Instruments within the time specified, the Issuer may forfeit such Instruments and shall have
no further obligation to their holder in respect of them.