National Grid 2008 Annual Report Download - page 384

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 10820
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: 41
Description: EXH 2(B).7.1
0/6795.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/795/6*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 10820
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: 41 Description: EXH 2(B).7.1
0/6795.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/795/6*
41
which an amount equal to the face value of each missin
g
unmatured Coupon (or, in the case of payment not
bein
g
made in full, that proportion of the amount of such missin
g
unmatured Coupon that the sum of principal so
paid bears to the total principal due) will be deducted from the Final Redemption Amount, Early Redemption
Amount or Optional Redemption Amount, as the case may be, due for payment. Any amount so deducted shall
be paid in the manner mentioned above a
g
ainst surrender of such missin
g
Coupon within a period of 10 years
from the Relevant Date for the payment of such principal (whether or not such Coupon has become void
p
ursuant to Condition 8
)
.
6.5.2 If the relevant Instrument so provides, upon the due date for redemption of any Instrument, unmatured Coupons
relatin
g
to such Instrument (whether or not attached) shall become void and no payment shall be made in respect
of them.
6.5.3 If the relevant Instrument so provides, upon the due date for redemption of any Instrument, any unexchan
g
ed
Talon relatin
g
to such Instrument (whether or not attached) shall become void and no Coupon shall be delivered
in respect of such Talon.
6.5.4 Upon the due date for redemption of any Instrument which is redeemable in instalments, all Receipts relatin
g
to
such Instrument havin
g
an Instalment Date fallin
g
on or after such due date (whether or not attached) shall
become void and no
p
a
y
ment shall be made in res
p
ect of them.
6.5.5 Where any Instrument which provides that the relevant Coupons are to become void upon the due date for
redemption of those Instruments is presented for redemption without all unmatured Coupons and any
unexchan
g
ed Talon relatin
g
to it, and where any Instrument is presented for redemption without any
unexchan
g
ed Talon relatin
g
to it, redemption shall be made only a
g
ainst the provision of such indemnity as the
Issuer may require.
6.5.6 If the due date for redemption of any Instrument is not a due date for payment of interest, interest accrued from
the precedin
g
due date for payment of interest or the Interest Commencement Date, as the case may be, shall
only be payable a
g
ainst presentation (and surrender if appropriate) of the relevant Instrument. Interest accrued
on an Instrument that only bears interest after its Maturity Date shall be payable on redemption of that Instrument
a
g
ainst
p
resentation of that Instrument.
6.6 Non-business days
If any date for payment in respect of any Instrument, Receipt or Coupon is not a business day, the holder shall not be
entitled to payment until the next followin
g
business day nor to any interest or other sum in respect of such postponed
payment. In this paragraph, “business day” means a day (other than a Saturday or a Sunday) on which banks and
forei
g
n exchan
g
e markets are open for business in the relevant place of presentation, in such jurisdictions as shall be
specified as “Financial Centres” in the relevant Final Terms and:
6.6.1 (in the case of a payment in a currency other than Euro) where payment is to be made by transfer to an account
maintained with a bank in the relevant currency, on which forei
g
n exchan
g
e transactions may be carried on in the
relevant currenc
y
in the
p
rinci
p
al financial centre of the countr
y
of such currenc
y
; or
6.6.2 (in the case of a payment in Euro), which is a TARGET Business Day.