"Outstanding", in relation to any Coupon Payment, Deferred Coupon Payment or Coupon Amount notfalling within the definition of Coupon Payment, means that such payment (a) has either become dueand payable or would have become due and payable except for the non-satisfaction on the relevant dateof the conditions referred to in Condition 2(b)(i) or the deferral, postponement or suspension of suchpayment in accordance with any of Conditions 4, 6(d), 6(e) or 8(d); and (b) in any such case has not beensatisfied;"Parent" means <strong>Lloyds</strong> <strong>TSB</strong> Group <strong>plc</strong>;"Paying Agents'' means the paying agents appointed pursuant to the Agency Agreement and such termshall, unless the context otherwise requires, include the Principal Paying Agent;"Payment" means any Coupon Payment, Deferred Coupon Payment or Coupon Amount not fallingwithin the definition of Coupon Payment;"Payment<strong>Bank</strong> Shares" has the meaning ascribed to it in Condition 6(b);"Payment Ordinary Shares" has the meaning ascribed to it in Condition 6(b);"Principal Agency Agreement" means the agency agreement dated 22 October 2002 between the <strong>Bank</strong>, theParent, the Trustee and the Paying Agents relating to the Original Capital Securities under whicheach Paying Agent agreed to perform the duties required of it under the terms and conditionsapplicable thereto;"Principal Calculation Agency Agreement" means the calculation agency agreement dated 22 October 2002between the <strong>Bank</strong>, the Parent, the Trustee and the Calculation Agent relating to the Original CapitalSecurities under which the Calculation Agent agreed to perform the duties required of it under the termsand conditions applicable thereto;"Principal Paying Agent" means the principal paying agent appointed pursuant to the AgencyAgreement;"Principal Trust Deed" means the trust deed dated 22 October 2002 between the <strong>Bank</strong>, the Parent andthe Trustee constituting the Original Capital Securities;"Recognised Stock Exchange" means a recognised stock exchange as defined in Section 841 of the Incomeand Corporation Taxes Act 1988 as the same may be amended from time to time and any provision,statute or statutory instrument replacing the same from time to time;"Relevant Date" means (i) in respect of any payment other than a Winding-Up Claim, the date on whichsuch payment first becomes due and payable but, if the full amount of the moneys payable on such datehas not been received by the Principal Paying Agent or the Trustee on or prior to such date, the"Relevant Date" means the date on which such moneys shall have been so received and notice to thateffect shall have been given to the Holders in accordance with Condition 16, and (ii) in respect of aWinding-Up Claim, the date which is one day prior to the commencement of the winding-up;"Senior Creditors" means creditors of the <strong>Bank</strong> (a) who are depositors or other unsubordinated creditorsof the <strong>Bank</strong>, or (b) whose claims are, or are expressed to be, subordinated (whether only in the event ofthe winding-up of the <strong>Bank</strong> or otherwise) to the claims of depositors and other unsubordinated creditorsof the <strong>Bank</strong> but not further or otherwise, or (c) whose claims are in respect of Junior Subordinated Debtof the <strong>Bank</strong> or (d) who are subordinated creditors of the <strong>Bank</strong> other than those whose claims are, or areexpressed to rank, pari passu with, or junior to, the claims of the Holders;"Subsidiary" has the meaning ascribed to it under Section 736 of the Companies Act 1985;"Suspension"has the meaning ascribed to it in Condition 8(d);"Talon" means a talon for further Coupons;"Tier 1 Capital" has the meaning ascribed to it in the Financial Services Authority's Interim PrudentialSourcebook for <strong>Bank</strong>s (as amended from time to time) or any successor publication replacing suchpublication or is capital which is otherwise treated as issued tier 1 capital by the Financial ServicesAuthority;"Tier 1 Guarantee" means any guarantee, indemnity or other contractual support arrangement enteredinto by the <strong>Bank</strong> or the Parent in respect of securities (regardless of name or designation) issued by asubsidiary undertaking which constitutes Tier 1 Capital of the <strong>Bank</strong> or the Parent (as the case may be);"Trust Deed" means the Principal Trust Deed together with the First Supplemental Trust Deed;26
"Trustee" means The Law Debenture Trust Corporation (Channel Islands) Limited as trustee for theHolders and includes its successors);"Upper Tier 2 Capital" has the meaning ascribed to it in the Financial Services Authority's InterimPrudential Sourcebook for <strong>Bank</strong>s (as amended from time to time) or any successor publication replacingsuch publication or is capital which is otherwise treated as upper tier 2 capital by the Financial ServicesAuthority;"Upper Tier 2 Securities" means securities of the <strong>Bank</strong> that:(a)(b)have substantially similar terms to the Capital Securities save that they shall contain terms no lessfavourable to an investor than the then current minimum requirements of the Financial ServicesAuthority in relation to Upper Tier 2 Capital; andare listed on the London Stock Exchange at the time when they are issued (or, if the LondonStock Exchange is not a Recognised Stock Exchange at that time, such other stock exchange as isa Recognised Stock Exchange at the time):"wholly-owned subsidiary" has the meaning ascribed to it under Section 736 of the Companies Act 1985;and"Winding-Up Claim" has the meaning ascribed to it in Condition 2(b)(ii).27
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