Common use of OPTION TO ELECT REPAYMENT Clause in Contracts

OPTION TO ELECT REPAYMENT. The undersigned hereby irrevocably requests and instructs the Issuer to repay the within Note (or portion hereof specified below) pursuant to its terms at a price equal to the applicable Repayment Price thereof together with interest to the Repayment Date, to the undersigned at -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- (Please print or typewrite name and address of the undersigned) If less than the entire principal amount of the within Note is to be repaid, specify the portion thereof which the Holder elects to have repaid ____________________; and specify the denomination or denominations (which shall be in authorized denominations) of the Notes to be issued to the Holder for the portion of the within Note not being repaid (in the absence of any such specification, one such Note will be issued for the portion not being repaid): -------------------------------------------------------------------------------- Dated: -------------------- ---------------------------------- (Signature) Signature Guarantee: --------------------

OPTION TO ELECT REPAYMENT. The undersigned hereby irrevocably requests and instructs the Issuer Québec to repay the within Note (or portion hereof thereof specified below) pursuant to its terms at a price equal to the applicable Repayment Price thereof together with interest to the Repayment DatePrice, to the undersigned at -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- (Please print or typewrite name and address of the undersigned) If less than the entire principal amount of the within Note is to be repaid, specify the portion thereof which the Holder elects to have repaid at: _________________________ _________________________ _________________________ _________________________ _________________________ (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF THE UNDERSIGNED) If less than the entire Principal Amount of the within Note is to be repaid, specify the portion thereof which the Holder elects to have repaid: _________________________________________________________ _______; and specify the denomination or denominations (which shall not be in less than the minimum authorized denominationsdenomination) of the Notes to be issued to the Holder for the portion of the within Note not being repaid (in the absence of any such specification, one such Note will be issued for the portion not being repaid): -------------------------------------------------------------------------------- _________________________________________________________ _______. Dated: -------------------- ---------------------------------- _______________ NOTICE: This signature on this Option to Elect Repayment must correspond with the name as written upon the face of the within instrument in every particular without alteration or enlargement. EXHIBIT C This Note is a Global Note within the meaning of the Fiscal Agency Agreement hereinafter referred to and is registered in the name of a Depositary or a nominee thereof. This Global Note may not be exchanged in whole or in part for a Note registered, and no transfer of this Global Note in whole or in part may be registered, in the name of any Person other than such Depositary or a nominee thereof except in the limited circumstances described in the Fiscal Agency Agreement. Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation (Signature“DTC”), to Québec or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or such other name as requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. REGISTERED REGISTERED No. GFXR $ CUSIP QUÉBEC GLOBAL MEDIUM-TERM NOTE SERIES A (Fixed Rate) Signature Guarantee: --------------------Issue of up to U.S.$5,000,000,000 Medium-Term Notes, Series A (or the equivalent thereof in other currencies), Due Nine Months or More from Date of Issue. The following summary of terms is subject to the information set forth on the reverse hereof.

OPTION TO ELECT REPAYMENT. The undersigned hereby irrevocably requests and instructs the Issuer Québec to repay the within Note (or portion hereof thereof specified below) pursuant to its terms at a price equal to the applicable Repayment Price thereof together with interest to the Repayment DatePrice, to the undersigned at -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- (Please print or typewrite name and address of the undersigned) If less than the entire principal amount of the within Note is to be repaid, specify the portion thereof which the Holder elects to have repaid at: _________________________ _________________________ _________________________ _________________________ _________________________ (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF THE UNDERSIGNED) If less than the entire Principal Amount of the within Note is to be repaid, specify the portion thereof which the Holder elects to have repaid: _________________________________________________________ _______; and specify the denomination or denominations (which shall not be in less than the minimum authorized denominationsdenomination) of the Notes to be issued to the Holder for the portion of the within Note not being repaid (in the absence of any such specification, one such Note will be issued for the portion not being repaid): -------------------------------------------------------------------------------- _________________________________________________________ _______. Dated:_______________ NOTICE: -------------------- ---------------------------------- This signature on this Option to Elect Repayment must correspond with the name as written upon the face of the within instrument in every particular without alteration or enlargement. EXHIBIT B REGISTERED REGISTERED No. FLR $ QUÉBEC MEDIUM-TERM NOTE SERIES A (SignatureFloating Rate) Signature Guarantee: --------------------Issue of up to U.S.$5,000,000,000 Medium-Term Notes, Series A (or the equivalent thereof in other currencies), Due Nine Months or More from Date of Issue. The following summary of terms is subject to the information set forth on the reverse hereof.

OPTION TO ELECT REPAYMENT. The undersigned hereby irrevocably requests and instructs the Issuer Québec to repay the within Global Note (or portion hereof thereof specified below) pursuant to its terms at a price equal to the applicable Repayment Price thereof together with interest to the Repayment DatePrice, to the undersigned at -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- (Please print or typewrite name and address of the undersigned) If less than the entire principal amount of the within Note is to be repaid, specify the portion thereof which the Holder elects to have repaid at: _________________________ _________________________ _________________________ _________________________ _________________________ (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF THE UNDERSIGNED) If less than the entire Principal Amount of the within Global Note is to be repaid, specify the portion thereof which the Holder elects to have repaid: _________________________________________________________ _______; and specify the denomination or denominations (which shall not be in less than the minimum authorized denominationsdenomination) of the Notes to be issued to the Holder for the portion of the within Global Note not being repaid (in the absence of any such specification, one such Global Note will be issued for the portion not being repaid): -------------------------------------------------------------------------------- _________________________________________________________ _______. Dated: -------------------- ---------------------------------- _______________ NOTICE: This signature on this Option to Elect Repayment must correspond with the name as written upon the face of the within instrument in every particular without alteration or enlargement. EXHIBIT D This Note is a Global Note within the meaning of the Fiscal Agency Agreement hereinafter referred to and is registered in the name of a Depositary or a nominee thereof. This Global Note may not be exchanged in whole or in part for a Note registered, and no transfer of this Global Note in whole or in part may be registered, in the name of any Person other than such Depositary or a nominee thereof except in the limited circumstances described in the Fiscal Agency Agreement. Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation (Signature“DTC”), to Québec or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or such other name as requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. REGISTERED REGISTERED No. GFLR $ CUSIP QUÉBEC GLOBAL MEDIUM-TERM NOTE SERIES A (Floating Rate) Signature Guarantee: --------------------Issue of up to U.S.$5,000,000,000 Medium-Term Notes, Series A (or the equivalent thereof in other currencies), Due Nine Months or More from Date of Issue. The following summary of terms is subject to the information set forth on the reverse hereof.