NIG Prospectus - London Stock Exchange
NIG Prospectus - London Stock Exchange NIG Prospectus - London Stock Exchange
Level: 8 – From: 8 – Thursday, August 9, 2007 – 2:18 pm – mac5 – 3776 Section 05 : 3776 Section 057.2 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.7.3 Determination of Periodic Distribution AmountExcept as provided in the applicable Final Terms, the Periodic Distribution Amount payablein respect of each Trust Certificate for any Return Accumulation Period shall be the FixedAmount and, if the Trust Certificates are in more than one Specified Denomination, shall bethe Fixed Amount in respect of the relevant Specified Denomination. Payments of PeriodicDistribution Amount on any Periodic Distribution Date may, if so specified in the applicableFinal Terms, amount to the Broken Amount so specified.Except in the case of Trust Certificates in definitive form where a Periodic DistributionAmount or Broken Amount is specified in the applicable Final Terms, such PeriodicDistribution Amount shall be calculated by applying the Rate to each SpecifiedDenomination, multiplying such sum by the applicable Day Count Fraction, and rounding theresultant figure to the nearest sub-unit of the relevant Specified Currency, half of any suchsub-unit being rounded upwards or otherwise in accordance with applicable marketconvention.Day Count Fraction means, in respect of the calculation of a Periodic Distribution Amountin accordance with this Condition 7.3:(a)if “Actual/Actual (ICMA)” is specified in the applicable Final Terms:(i)(ii)in the case of Trust Certificates where the number of days in the relevant periodfrom (and including) the most recent Periodic Distribution Date (or, if none, theReturn Accumulation Commencement Date) to (but excluding) the relevantpayment date (the Accrual Period) is equal to or shorter than the DeterminationPeriod during which the Accrual Period ends, the number of days in such AccrualPeriod divided by the product of (A) the number of days in such DeterminationPeriod and (B) the number of Determination Dates (as specified in the applicableFinal Terms) that would occur in one calendar year; orin the case of Trust Certificates where the Accrual Period is longer than theDetermination Period during which the Accrual Period ends, the sum of:(A)(B)the number of days in such Accrual Period falling in the DeterminationPeriod in which the Accrual Period begins divided by the product of (x) thenumber of days in such Determination Period and (y) the number ofDetermination Dates that would occur in one calendar year; andthe number of days in such Accrual Period falling in the nextDetermination Period divided by the product of (x) the number of days insuch Determination Period and (y) the number of Determination Datesthat would occur in one calendar year; and(b)if “30/360” is specified in the applicable Final Terms, the number of days in the periodfrom (and including) the most recent Periodic Distribution Date (or, if none, the ReturnAccumulation Commencement Date) to (but excluding) the relevant payment date(such number of days being calculated on the basis of a year of 360 days with 12 30-day months) divided by 360.In the Conditions:42
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
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Level: 8 – From: 8 – Thursday, August 9, 2007 – 2:18 pm – mac5 – 3776 Section 05 : 3776 Section 057.2 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.7.3 Determination of Periodic Distribution AmountExcept as provided in the applicable Final Terms, the Periodic Distribution Amount payablein respect of each Trust Certificate for any Return Accumulation Period shall be the FixedAmount and, if the Trust Certificates are in more than one Specified Denomination, shall bethe Fixed Amount in respect of the relevant Specified Denomination. Payments of PeriodicDistribution Amount on any Periodic Distribution Date may, if so specified in the applicableFinal Terms, amount to the Broken Amount so specified.Except in the case of Trust Certificates in definitive form where a Periodic DistributionAmount or Broken Amount is specified in the applicable Final Terms, such PeriodicDistribution Amount shall be calculated by applying the Rate to each SpecifiedDenomination, multiplying such sum by the applicable Day Count Fraction, and rounding theresultant figure to the nearest sub-unit of the relevant Specified Currency, half of any suchsub-unit being rounded upwards or otherwise in accordance with applicable marketconvention.Day Count Fraction means, in respect of the calculation of a Periodic Distribution Amountin accordance with this Condition 7.3:(a)if “Actual/Actual (ICMA)” is specified in the applicable Final Terms:(i)(ii)in the case of Trust Certificates where the number of days in the relevant periodfrom (and including) the most recent Periodic Distribution Date (or, if none, theReturn Accumulation Commencement Date) to (but excluding) the relevantpayment date (the Accrual Period) is equal to or shorter than the DeterminationPeriod during which the Accrual Period ends, the number of days in such AccrualPeriod divided by the product of (A) the number of days in such DeterminationPeriod and (B) the number of Determination Dates (as specified in the applicableFinal Terms) that would occur in one calendar year; orin the case of Trust Certificates where the Accrual Period is longer than theDetermination Period during which the Accrual Period ends, the sum of:(A)(B)the number of days in such Accrual Period falling in the DeterminationPeriod in which the Accrual Period begins divided by the product of (x) thenumber of days in such Determination Period and (y) the number ofDetermination Dates that would occur in one calendar year; andthe number of days in such Accrual Period falling in the nextDetermination Period divided by the product of (x) the number of days insuch Determination Period and (y) the number of Determination Datesthat would occur in one calendar year; and(b)if “30/360” is specified in the applicable Final Terms, the number of days in the periodfrom (and including) the most recent Periodic Distribution Date (or, if none, the ReturnAccumulation Commencement Date) to (but excluding) the relevant payment date(such number of days being calculated on the basis of a year of 360 days with 12 30-day months) divided by 360.In the Conditions:42
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