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Under the Euro Medium Term Note Programme ... - Finance - EDF

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SUBSCRIPTION AND SALE<br />

Subject to <strong>the</strong> terms and on <strong>the</strong> conditions contained in an amended and restated dealer<br />

agreement dated 1 June 2012 (as amended or supplemented from time to time, <strong>the</strong><br />

"Amended and Restated Dealer Agreement") between <strong>the</strong> Issuer, <strong>the</strong> Permanent Dealers<br />

and <strong>the</strong> Arranger, <strong>the</strong> <strong>Note</strong>s will be offered on a continuous basis by <strong>the</strong> Issuer to <strong>the</strong><br />

Permanent Dealers. However, <strong>the</strong> Issuer has reserved <strong>the</strong> right to sell <strong>Note</strong>s directly on its<br />

own behalf to Dealers that are not Permanent Dealers. The <strong>Note</strong>s may be resold at<br />

prevailing market prices, or at prices related <strong>the</strong>reto, as determined by <strong>the</strong> relevant Dealer, at<br />

<strong>the</strong> time of such resale. The <strong>Note</strong>s may also be sold by <strong>the</strong> Issuer through <strong>the</strong> Dealers,<br />

acting as agents of <strong>the</strong> Issuer. The Amended and Restated Dealer Agreement also provides<br />

for <strong>Note</strong>s to be issued in syndicated Tranches that are jointly and severally underwritten by<br />

two or more Dealers.<br />

The Issuer will pay each relevant Dealer a commission as agreed between <strong>the</strong>m in respect<br />

of <strong>Note</strong>s subscribed by it. The Issuer has agreed to reimburse <strong>the</strong> Arranger for <strong>the</strong>ir<br />

expenses incurred in connection with <strong>the</strong> <strong>Programme</strong> and <strong>the</strong> Dealers for certain of <strong>the</strong>ir<br />

activities in connection with <strong>the</strong> <strong>Programme</strong>.<br />

The Issuer has agreed to indemnify <strong>the</strong> Dealers against certain liabilities in connection with<br />

<strong>the</strong> offer and sale of <strong>the</strong> <strong>Note</strong>s. The Amended and Restated Dealer Agreement entitles <strong>the</strong><br />

Dealers to terminate any agreement that <strong>the</strong>y make to subscribe <strong>Note</strong>s in certain<br />

circumstances prior to payment for such <strong>Note</strong>s being made to <strong>the</strong> Issuer.<br />

United States of America<br />

The <strong>Note</strong>s have not been and will not be registered under <strong>the</strong> U.S. Securities Act of 1933 as<br />

amended (<strong>the</strong> "Securities Act") and may not be offered or sold within <strong>the</strong> United States or<br />

to, or for <strong>the</strong> account or benefit of, U.S. persons except in certain transactions exempt from<br />

<strong>the</strong> registration requirements of <strong>the</strong> Securities Act. <strong>Term</strong>s used in this paragraph have <strong>the</strong><br />

meanings given to <strong>the</strong>m by Regulation S under <strong>the</strong> Securities Act ("Regulation S").<br />

Materialised Bearer <strong>Note</strong>s are subject to U.S. tax law requirements and may not be offered,<br />

sold or delivered within <strong>the</strong> United States or its possessions or to a United States person,<br />

except in certain transactions permitted by U.S. tax regulations. <strong>Term</strong>s used in this<br />

paragraph have <strong>the</strong> meanings given to <strong>the</strong>m by <strong>the</strong> U.S. Internal Revenue Code and<br />

regulations <strong>the</strong>reunder.<br />

Each Dealer has agreed and each fur<strong>the</strong>r Dealer appointed under <strong>the</strong> <strong>Programme</strong> will be<br />

required to agree that, except as permitted by <strong>the</strong> Amended and Restated Dealer<br />

Agreement, it will not offer, sell or, in <strong>the</strong> case of Materialised Bearer <strong>Note</strong>s, deliver <strong>Note</strong>s, (i)<br />

as part of <strong>the</strong>ir distribution at any time or (ii) o<strong>the</strong>rwise until 40 days after <strong>the</strong> completion of<br />

<strong>the</strong> distribution of any identifiable Tranche as determined, and certified to <strong>the</strong> Issuer, by <strong>the</strong><br />

Fiscal Agent, or in <strong>the</strong> case of <strong>Note</strong>s issued on a syndicated basis, <strong>the</strong> Lead Manager, within<br />

<strong>the</strong> United States or to, or for <strong>the</strong> account or benefit of, U.S. persons, and it will have sent to<br />

each dealer to which it sells <strong>Note</strong>s during <strong>the</strong> distribution compliance period a confirmation or<br />

o<strong>the</strong>r notice setting forth <strong>the</strong> restrictions on offers and sales of <strong>the</strong> <strong>Note</strong>s within <strong>the</strong> United<br />

States or to, or for <strong>the</strong> account or benefit of, U.S. persons. <strong>Term</strong>s used in <strong>the</strong> preceding<br />

sentence have <strong>the</strong> meanings given to <strong>the</strong>m by Regulation S.<br />

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