NIG Prospectus - London Stock Exchange

Level: 8 – From: 8 – Thursday, August 9, 2007 – 2:18 pm – mac5 – 3776 Section 05 : 3776 Section 05to be calculated on the basis of a year of 360 days with 12 30-day months (unless (A)the last day of the Return Accumulation Period is the 31st day of a month but the firstday of the Return Accumulation Period is a day other than the 30th or 31st day of amonth, in which case the month that includes that last day shall not be considered tobe shortened to a 30-day month, or (B) the last day of the Return Accumulation Periodis the last day of the month of February, in which case the month of February shall notbe considered to be lengthened to a 30-day month)); and(f)if “30E/360” or “Eurobond Basis” is specified in the applicable Final Terms, thenumber of days in the Return Accumulation Period divided by 360 (the number of daysto be calculated on the basis of a year of 360 days with 12 30-day months, withoutregard to the date of the first day or last day of the Return Accumulation Period unless,in the case of the final Return Accumulation Period, the Maturity Date is the last dayof the month of February, in which case the month of February shall not be consideredto be lengthened to a 30-day month).8.6 Calculation of Other AmountsIf the applicable Final Terms specifies that any other amount is to be calculated by theCalculation Agent, the Calculation Agent will, as soon as practicable after the time or timesat which any such amount is to be determined, calculate the relevant amount. The relevantamount will be calculated by the Calculation Agent in the manner specified in the applicableFinal Terms.8.7 PublicationThe Calculation Agent will cause each Rate and Periodic Distribution Amount determined byit, together with the relevant Periodic Distribution Date, and any other amount(s) required tobe determined by it together with any relevant payment date(s) to be notified to the PayingAgents and each listing authority, stock exchange and/or quotation system (if any) by whichthe Trust Certificates have then been admitted to listing, trading and/or quotation as soon aspracticable after such determination but (in the case of each Rate, Periodic DistributionAmount and Periodic Distribution Date) in any event not later than the first day of therelevant Return Accumulation Period. Notice thereof shall also promptly be given to theCertificateholders. The Calculation Agent will be entitled to recalculate any PeriodicDistribution Amount (on the basis of the foregoing provisions) without notice in the event ofan extension or shortening of the relevant Return Accumulation Period.8.8 Notifications, etc. to be finalAll notifications, opinions, determinations, certificates, calculations, quotations anddecisions given, expressed, made or obtained for the purposes of the provisions of thisCondition by the Calculation Agent will (in the absence of wilful default, bad faith or manifesterror) be binding on the Issuer, the Trustee, the Delegate, the Principal Paying Agent and allCertificateholders (in the absence as referred to above). No liability to the Issuer, the Trustee,the Delegate, NIG, the Principal Paying Agent or the Certificateholders shall attach to theCalculation Agent in connection with the exercise or non-exercise by it of its powers, dutiesand discretions under this Condition.9. PAYMENTPayment of Dissolution Amounts and Periodic Distribution Amounts will be made by transferto the registered account (as defined below) of a Certificateholder or by cheque drawn on abank that processes payments in the Specified Currency mailed to the registered addressof a Certificateholder if it does not have a registered account. Payments of DissolutionAmounts will only be made against surrender of the relevant Certificate of Registration at46