National Grid 2008 Annual Report Download - page 388

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 44576
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: 45
Description: EXH 2(B).7.1
0/8799.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/799/8*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 44576
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: 45 Description: EXH 2(B).7.1
0/8799.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/799/8*
45
defined in the Trust Deed) or any subsidiary/any other company]
±
in place of the Issuer or of any previous substituted
company, as principal debtor under the Trust Deed and the Instruments [and the substitution of the Guarantor’s
Successor in Business (as defined in the Trust Deed) or any subsidiary of the Guarantor in place of the Guarantor]*. In
the case of such a substitution the Trustee may a
g
ree, without the consent of the Instrumentholders or the
Couponholders, to a chan
g
e of the law
g
overnin
g
the Instruments, the Receipts, the Coupons, the Talons and/or the
Trust Deed provided that such chan
g
e would not in the opinion of the Trustee be materially prejudicial to the interests of
the Instrumentholders.
11.4 Entitlement of the Trustee
In connection with the exercise of its functions (includin
g
but not limited to those referred to in this Condition) the Trustee
shall have re
g
ard to the interests of the Instrumentholders as a class and shall not have re
g
ard to the consequences of
such exercise for individual Instrumentholders or Couponholders and the Trustee shall not be entitled to require, nor shall
any Instrumentholder or Couponholder be entitled to claim, from the Issuer [or the Guarantor]* any indemnification or
payment in respect of any tax consequence of any such exercise upon individual Instrumentholders or Couponholders.
12 Re
p
lacement of Instruments, Recei
p
ts, Cou
p
ons and Talons
If an Instrument, Receipt, Coupon or Talon is lost, stolen, mutilated, defaced or destroyed, it may be replaced, subject to
applicable laws, listin
g
authority and stock exchan
g
e re
g
ulations, at the specified office of such other Payin
g
A
g
ent as may
from time to time be desi
g
nated by the Issuer[ or the Guarantor]* for the purpose and notice of whose desi
g
nation is
g
iven to
Instrumentholders in accordance with Condition 14 on payment by the claimant of the fees and costs incurred in connection
with that replacement and on such terms as to evidence, security and indemnity (which may provide, inter alia, that if the
alle
g
edly lost, stolen or destroyed Instrument, Receipt, Coupon or Talon is subsequently presented for payment or, as the
case may be, for exchan
g
e for further Coupons, there shall be paid to the Issuer[ or the Guarantor]* on demand the amount
payable by the Issuer[ or the Guarantor]* in respect of such Instruments, Receipts, Coupons or further Coupons) and
otherwise as the Issuer[ or the Guarantor]* may require. Mutilated or defaced Instruments, Receipts, Coupons or Talons must
be surrendered before replacements will be issued.
13 Further Issues
The Issuer may from time to time without the consent of the Instrumentholders or Couponholders create and issue further
instruments havin
g
the same terms and conditions as the Instruments and so that such further issue shall be consolidated and
form a sin
g
le series with such Instruments. References in these Conditions to the Instruments include (unless the context
requires otherwise) any other instruments issued pursuant to this Condition and formin
g
a sin
g
le series with the Instruments.
Any such further instruments formin
g
a sin
g
le series with Instruments constituted by the Trust Deed or any deed supplemental
to it shall, and an
y
other instruments ma
y
(
with the consent of the Trustee
)
, be constituted b
y
the Trust Deed.
The Trust Deed contains provisions for convenin
g
a sin
g
le meetin
g
of the Instrumentholders and the holders of instruments of
other series if the Trustee so decides.
± Where National Grid Gas plc is the Issuer, delete the text “any other company”. Where National Grid Gas Finance (No 1) is the Issuer, delete the text “a Successor in Business
(
as
defined in the Trust Deed
)
or an
y
subsidiar
y
”.