National Grid 2008 Annual Report Download - page 372

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 27325
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: 29
Description: EXH 2(B).7.1
0/3783.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/783/3*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 27325
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: 29 Description: EXH 2(B).7.1
0/3783.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/783/3*
29
Day Count Fraction = [360 x (Y
2
-Y
1
)] + [30 x (M
2
-M
1
)]+ (D
2
-D
1
)
360
where:
“Y
1
” is the year, expressed as a number, in which the first day of the Calculation Period falls;
“Y
2
” is the year, expressed as a number, in which the day immediately followin
g
the last day included
in the Calculation Period falls;
“M
1
” is the calendar month, expressed as a number, in which the first day of the Calculation Period
falls;
“M
2
” is the calendar month, expressed as a number, in which the day immediately followin
g
the last
day included in the Calculation Period falls;
“D
1
” is the first calendar day, expressed as a number, of the Calculation Period, unless such number
would be 31, in which case D
1
will be 30; and
“D
2
” is the calendar day, expressed as a number, immediately followin
g
the last day included in the
Calculation Period, unless such number would be 31 and D
1
is greater than 29, in which case D
2
will
be 30 ;
(v) if “30E/360” or “Eurobond Basis” is specified in the relevant Final Terms, the number of days in the
Calculation Period divided b
y
360, calculated on a formula basis as follows:
Da
y
Count Fraction =
[
360 x
(
Y
2
-Y
1
)]
+
[
30 x
(
M
2
-M
1
)]
+
(
D
2
-D
1
)
360
where:
“Y
1
” is the
y
ear, ex
p
ressed as a number, in which the first da
y
of the Calculation Period falls;
“Y
2
” is the year, expressed as a number, in which the day immediately followin
g
the last day included
in the Calculation Period falls;
“M
1
” is the calendar month, expressed as a number, in which the first day of the Calculation Period
falls;
“M
2
” is the calendar month, expressed as a number, in which the day immediately followin
g
the last
da
y
included in the Calculation Period falls;
“D
1
” is the first calendar day, expressed as a number, of the Calculation Period, unless such number
would be 31, in which case D
1
will be 30; and
“D
2
” is the calendar day, expressed as a number, immediately followin
g
the last day included in the
Calculation Period, unless such number would be 31, in which case D
2
will be 30;
(vi) if “30E/360 (ISDA)” is specified hereon, the number of days in the Calculation Period divided by 360,
calculated on a formula basis as follows:
Day Count Fraction = [360 x (Y
2
-Y
1
)] + [30 x (M
2
-M
1
)]+ (D
2
-D
1
)
360
where:
“Y
1
” is the
y
ear, ex
p
ressed as a number, in which the first da
y
of the Calculation Period falls;