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Euro 6,000,000,000 Euro Medium Term Note Programme Due from ...

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has placed its rating of the <strong>Note</strong>s under consideration for rating review as a consequence of such<br />

Change of Control, the Change of Control Period shall be extended to the date which falls 60 days<br />

after the date of the first such public rating review consideration announcement.<br />

"Potential Change of Control Announcement" means any public announcement or statement by<br />

the Issuer, any actual or potential bidder or any advisor thereto relating to any potential Change of<br />

Control, such announcement or statement occurring no more than 180 days prior to the first public<br />

announcement of the occurrence of the relevant Change of Control.<br />

"Rating Agency" means Standard & Poor's Credit Market Services <strong>Euro</strong>pe Limited and/ or<br />

Moody's Investors Service Ltd. and their respective successors or affiliates and/ or any other rating<br />

agency of equivalent international standing specified <strong>from</strong> time to time by the Issuer which has a<br />

current rating of the <strong>Note</strong>s at any relevant time.<br />

A "Rating Downgrade" shall be deemed to have occurred in respect of a Change of Control in<br />

respect of the Issuer if within the Change of Control Period the rating previously assigned to any of<br />

the <strong>Note</strong>s by any Rating Agency is (i) withdrawn or (ii) changed <strong>from</strong> an investment grade rating<br />

(BBB-/Baa3, or their respective equivalents for the time being, or better) to a non-investment grade<br />

rating (BB+/Ba1, or their respective equivalents for the time being, or worse) or (iii) if the rating<br />

previously assigned to any of the <strong>Note</strong>s by any Rating Agency was below an investment grade<br />

rating (as described above), lowered at least one full rating notch (for example, <strong>from</strong> BB+/Ba1 to<br />

BB/Ba2 or their respective equivalents), provided that a Rating Downgrade otherwise arising by<br />

virtue of a particular change in rating shall be deemed not to have occurred in respect of a particular<br />

Change of Control in respect of the Issuer if the Rating Agency making the change in rating does<br />

not publicly announce or publicly confirm that the reduction was the result, in whole or part, of any<br />

event or circumstance comprised in or arising as a result of, or in respect of, such Change of<br />

Control.<br />

Promptly upon the Issuer becoming aware that a Put Event has occurred, the Issuer shall give notice<br />

(a "Put Event Notice") to the <strong>Note</strong>holders in accordance with Condition 14 (which notice shall be<br />

irrevocable) specifying the nature of the Put Event and the circumstances giving rise to it and the<br />

procedure for exercising the Put Option contained in this Condition 6(k)).<br />

To exercise the Put Option to require redemption or, as the case may be, purchase of a <strong>Note</strong> under<br />

this Condition 6(k), the holder of that <strong>Note</strong> must (i) in the case of Dematerialised <strong>Note</strong>s transfer or<br />

cause to be transferred by its Account Holder its <strong>Note</strong>s to be so redeemed or purchased to the<br />

account of the Paying Agent specified in the Put Option Notice for the account of the Issuer or (ii)<br />

in the case of Materialised <strong>Note</strong>s, deposit its <strong>Note</strong>s with any Paying Agent specified in the Put<br />

Option Notice for the account of the Issuer, in each case within the period (the "Put Period") of 45<br />

days after the Put Event Notice is given together with a duly signed and completed notice of<br />

exercise in the form (for the time being current) obtainable <strong>from</strong> the specified office of any Paying<br />

Agent (a "Put Option Notice") and in which the holder may specify a bank account to which<br />

payment is to be made under this Condition 6(k).<br />

The Issuer shall redeem or, at the option of the Issuer, procure the purchase of, the <strong>Note</strong>s in respect<br />

of which the Put Option has been validly exercised as provided above, and subject to the transfer or<br />

deposit of such <strong>Note</strong>s as described above on the date which is the fifth Business Day (as defined in<br />

Condition 5(a)) following the end of the Put Period (the "Optional Settlement Date"). Payment in<br />

respect of any <strong>Note</strong> so transferred or deposited will be made to each relevant holder in accordance<br />

with Condition 7 on the Optional Settlement Date.<br />

If 80 per cent. or more in principal amount of the <strong>Note</strong>s then outstanding have been redeemed<br />

pursuant to this Condition 6(k), the Issuer may, on not less than 30 nor more than 60 days' notice to<br />

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