PROMISE-A-2000-1 plc - KfW

4.3 Business Days
If the date for any payment in respect of any Note is not a Business Day, such payment shall not
be made until the next succeeding day which is a Business Day unless it would thereby fall into
the next calendar month, in which case the payment shall be made on the immediately preceding
Business Day.
"Business Day" means any TARGET Day or, if such TARGET Day is not a day on which banks
are open for general business and foreign exchange markets settle payments in Frankfurt am
Main, Munich, Dublin, Luxembourg and London, the following TARGET Day on which banks
are open for general business and foreign exchange markets settle payments in Frankfurt am
Main, Munich, Dublin, Luxembourg and London unless that day falls in the next month, in
which case the date will be the preceding TARGET Day on which banks are open for general
business and foreign exchange markets settle payments in Frankfurt am Main, Munich, Dublin,
Luxembourg and London.
"TARGET Day" means a day on which the Trans-European Automated Real-time Gross
settlement Express Transfer system is open for settlement of payments in euro.
5. INTEREST
5.1 Accrual of Interest
Interest will accrue on the Note Outstanding Principal Amount (as defined herein), in respect of
the first Interest Payment Date, the period from, and including, the Issue Date and ending on, but
excluding, the first Interest Payment Date and, in respect of any subsequent Interest Payment
Date, the period from, and including, the immediately preceding Interest Payment Date and
ending on, but excluding, such Interest Payment Date (each an "Interest Period") at the
Applicable Rate of Interest (as defined in Condition 5.4).
5.2 Outstanding Principal Amount
As of any Payment Date between the Issue Date and the Final Maturity Date (a) the "Note
Outstanding Principal Amount" of any Note will be an amount equal to the Initial Principal
Amount of such Note as reduced by (i) the aggregate amount of payments or repayments, if any,
of principal made in respect of such Note on or before such date and (ii) the allocation of Issuer
Payments to such Note on or before such date and (b) the "Outstanding Principal Amount"
will be, with respect to each Class of Notes, the aggregate Note Outstanding Principal Amounts
of such Class of Notes.
5.3 Interest Payment Dates and Interest Periods
Interest on the Notes will be payable on 28 May 2001 and, thereafter, quarterly in arrear on the
28 th day of February, May, August and November in each year, subject to adjustment of non-
Business Days as further described herein (each such date, an "Interest Payment Date" or
"Payment Date").
5.4 Rate of Interest
The rate of interest applicable to the Outstanding Principal Amount of a Note (the "Applicable
Rate of Interest") for each Interest Period shall be the aggregate of the Applicable Margin plus
the Euro Interbank Offered Rate (" EURIBOR") for three month euro deposits (with respect to
the first Interest Period, interpolated between five and six months) which appears on the Bridge
Telerate Page designated 248 on the Associated Press-Dow Jones Telerate Service (or such other
page as may replace that page on that service, or such other service as may be nominated by the
Interest Determination Agent as the information vendor, for the purpose of displaying
comparable rates) as of 11.00 a.m. (Brussels time) determined by the Interest Determination
35