National Grid 2008 Annual Report Download - page 373

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 18018
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: 30
Description: EXH 2(B).7.1
0/3784.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/784/3*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 18018
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: 30 Description: EXH 2(B).7.1
0/3784.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/784/3*
“Effective Date” means, with respect to any Floatin
g
Rate to be determined on an Interest Determination
Date, the date specified as such in the relevant Final Terms or, if none is so specified, the first day of the
Interest Accrual Period to which such Interest Determination Date relates.
“Euro-zone” means the re
g
ion comprisin
g
of Member States of the European Union that adopt the sin
g
le
currency in accordance with the Treaty establishing the European Community as amended.
“Interest Accrual Period” means the period be
g
innin
g
on (and includin
g
) the Interest Commencement Date
and ending on (but excluding) the first Interest Period
30
“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 (i) that day is
the last day of February or (ii) 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 (i) that day is the last day of February but not the Maturity Date or (ii) such
number would be 31, in which case D
2
will be 30; and
(vii) if “Actual/Actual-ICMA” is specified in the relevant Final Terms,
(a) if the Calculation Period is equal to or shorter than the Determination Period durin
g
which it falls,
the actual number of days in the Calculation Period divided by the product of (x) the actual
number of days in such Determination Period and (y) the number of Determination Periods in
any year; and
(
b
)
if the Calculation Period is lon
g
er than one Determination Period, the sum of:
(x) the actual number of days in such Calculation Period fallin
g
in the Determination Period in
which it be
g
ins divided by the product of (1) the actual number of days in such
Determination Period and
(
2
)
the number of Determination Periods in an
y
y
ear; and
(y) the actual number of days in such Calculation Period fallin
g
in the next Determination
Period divided by the product of (1) the actual number of days in such Determination
Period and (2) the number of Determination Periods in any year,
where:
“Determination Period” means the period from and includin
g
a Determination Date in any
y
ear to but excludin
g
the next Determination Date; and
“Determination Date” means the date specified as such in the relevant Final Terms or, if
none is so s
p
ecified, the Interest Pa
y
ment Date.