NIG Prospectus - London Stock Exchange

Level: 8 – From: 8 – Thursday, August 9, 2007 – 2:18 pm – mac5 – 3776 Section 05 : 3776 Section 05Determination Period means each period from (and including) a Determination Date to (butexcluding) the next Determination Date (including, where either the Return AccrualCommencement Date or the final Periodic Distribution Date is not a Determination Date, theperiod commencing on the first Determination Date prior to, and ending on the firstDetermination Date falling after, such date); andsub-unit means, with respect to any currency other than euro, the lowest amount of suchcurrency that is available as legal tender in the country of such currency and, with respectto euro, one cent.7.4 Payment in ArrearSubject to Condition 7.5, Condition 11.2, Condition 11.3 and Condition 14 below, and unlessotherwise specified in the applicable Final Terms, each Periodic Distribution Amount will bepaid in respect of the relevant Trust Certificates in arrear on each Periodic Distribution Date.7.5 Cessation of Profit EntitlementNo further amounts will be payable on any Trust Certificate from and including the MaturityDate or, as the case may be, the Dissolution Date.8. FLOATING PERIODIC DISTRIBUTION PROVISIONS8.1 ApplicationThis Condition 8 is applicable to the Trust Certificates only if the Floating Periodic DistributionProvisions are specified in the applicable Final Terms as being applicable.8.2 Periodic Distribution AmountA Periodic Distribution Amount for the Trust Certificates, representing a defined share of thedistributable profit of the Mudarabah, will be payable in respect of the Trust Certificates andbe distributable by the Issuer to the Certificateholders in accordance with these Conditions.Such Periodic Distribution Amounts will be payable in arrear on either:(a)(b)the Specified Periodic Distribution Date(s) in each year specified in the applicable FinalTerms; orif no Specified Periodic Distribution Date(s) is/are specified in the applicable FinalTerms, each date (each such date, together with each Specified Periodic DistributionDate, a Periodic Distribution Date) which falls the number of months or other periodspecified as the Specified Period in the applicable Final Terms after the precedingPeriodic Distribution Date or, in the case of the first Periodic Distribution Date, afterthe Return Accumulation Commencement Date.Such Periodic Distribution Amounts will be payable in respect of each Return AccumulationPeriod.If a Business Day Convention is specified in the applicable Final Terms and (x) if there is nonumerically corresponding day in the calendar month in which a Periodic Distribution Dateshould occur or (y) if any Periodic Distribution Date would otherwise fall on a day which isnot a Business Day, then, if the Business Day Convention specified is:(A)in any case where Specified Periods are specified in accordance with Condition 8.2(b)above, the Floating Rate Convention, such Periodic Distribution Date (a) in the case of(x) above, shall be the last day that is a Business Day in the relevant month and theprovisions of (ii) below shall apply mutatis mutandis or (b) in the case of (y) above, shallbe postponed to the next day which is a Business Day unless it would thereby fall into43