National Grid 2008 Annual Report Download - page 352

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 44984
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-2.B.7.1, Doc: 8, Page: 9
Description: EXH 2(B).7.1
0/4763.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/763/4*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 44984
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-2.B.7.1, Doc: 8, Page: 9 Description: EXH 2(B).7.1
0/4763.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/763/4*
9
“Final Terms”).
Issue Price Instruments may be issued at their nominal amount or at a discount or premium to
their nominal amount. Partly Paid Instruments may be issued, the issue price of
which will be payable in two or more instalments.
Form of Instruments The Instruments may be issued in bearer form only. Each Tranche of Instruments
will be represented on issue by a temporary Global Instrument if (a) Definitive
Instruments are to be made available to Instrumentholders followin
g
the expiry of
40 days after their issue date or (b) such Instruments have an initial maturity of
more than one year and are bein
g
issued in compliance with the D Rules (as
defined in “Selling Restrictions” below), otherwise such Tranche will be
represented by a permanent Global Instrument. Any permanent Global Instrument
shall only be exchan
g
ed for Instruments in definitive form in the limited
circumstances set out in the
p
ermanent Global Instrument.
Clearing Systems Clearstream, Luxembour
g
, Euroclear and, in relation to any Tranche, such other
clearin
g
system as may be a
g
reed between the relevant Issuer, the Guarantor (if
applicable), the Issuing and Paying Agent, the Trustee and the relevant Dealer.
Initial Delivery of Instruments On or before the issue date for each Tranche, if the relevant Global Instrument is
intended to be reco
g
nised as eli
g
ible collateral for Eurosystem monetary policy
and intra-day credit operations, the Global Instrument will be delivered to a
Common Safekeeper for Euroclear and Clearstream, Luxembour
g
. On or before
the issue date for each Tranche, if the relevant Global Instrument is not intended to
be recognised as eligible collateral for Eurosystem monetary policy and intra-day
credit operations, the Global Instrument representin
g
the relevant Instruments may
be deposited with a common depositary for Euroclear and Clearstream,
Luxembour
g
. Global Instruments may also be deposited with any other clearin
g
system or may be delivered outside any clearin
g
system provided that the method
of such delivery has been a
g
reed in advance by the relevant Issuer, the Guarantor
(if applicable), the Issuing and Paying Agent, the Trustee and the relevant Dealer.
Currencies Subject to compliance with all relevant laws, re
g
ulations and directives,
Instruments may be issued in U.S. dollars, Australian dollars, Canadian dollars,
Danish krone, Euro, Hon
g
Kon
g
dollars, New Zealand dollars, Sterlin
g
, Swedish
krona, Swiss francs or Japanese yen or in other currencies if the relevant Issuer
and the relevant Dealer(s) so a
g
ree. Instruments may, subject to compliance as
above, be issued as Dual Currenc
y
Instruments.
Maturities Subject to compliance with all relevant laws, re
g
ulations and directives, any
maturit
y
from one month to
p
er
p
etuit
y
.
An
y
Instruments havin
g
a maturit
y
of less than one
y
ear from