Common use of DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION Clause in Contracts

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 If the Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the decision to the Agent stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Agent to carry out its duties in this Agreement and in the Conditions. 10.2 If some only of the Notes are to be redeemed, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Issuer reasonable notice of the time and place proposed for the drawing and the Issuer shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 The Agent shall publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents of any date fixed for redemption of any Notes. 10.4 Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 13.1 If the Issuer decides to redeem any Notes Covered Bonds for the time being outstanding before their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the such decision to the Security Trustee, the Rating Agency and the Principal Paying Agent or the Registrar stating the date on which the Notes Covered Bonds are to be redeemed and the nominal amount of Notes Covered Bonds to be redeemed not less than 15 fifteen (15) calendar days before the date on which the Issuer will give notice to the Noteholders Covered Bondholders in accordance with the Conditions of the redemption in order to enable the Principal Paying Agent or the Registrar to carry out its duties in this Agreement and in the Conditions. 10.2 13.2 If some only of the Notes Covered Bonds are to be redeemed, the Principal Paying Agent shall, in the case of Definitive NotesCovered Bonds or Registered Covered Bonds, make the required drawing in accordance with the Conditions but shall give the Issuer and the Security Trustee reasonable notice of the time and place proposed for the drawing and the Issuer and the Security Trustee shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global formGlobal Covered Bonds, co-ordinate the selection of Notes Covered Bonds to be redeemed with Euroclear and and/or Clearstream, LuxembourgLuxembourg and/or Euroclear Nederland and/or any other agreed clearing system, all in accordance with the Conditions. 10.3 13.3 The Principal Paying Agent shall (at the expense of the Issuer) publish the notice required in connection with any such redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form Definitive Covered Bonds previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive NotesCovered Bonds or Registered Covered Bonds, (i) the serial numbers of the Notes to be redeemedDefinitive Covered Bonds and (ii) in the case of Registered Covered Bonds, the nominal amount drawn and the holders thereof. The notice will be published in accordance with the Conditions. The Principal Paying Agent will also notify the Security Trustee, the Registrar and the other Paying Agents of any date fixed for redemption of any NotesCovered Bonds. 10.4 Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 9.1 If the relevant Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date (if any) in accordance with the Conditions, the relevant Issuer shall give notice of the decision to the Agent stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the relevant Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Agent to carry out its duties in this Agreement and in the Conditions. 10.2 9.2 If some only of the Notes are to be redeemed, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the relevant Issuer reasonable notice of the time and place proposed for the drawing and the relevant Issuer shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 9.3 The Agent shall publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the applicable record date, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents of any date fixed for redemption of any Notes. 10.4 Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 9.1 If the Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the decision to the Agent stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Agent to carry out its duties in this Agreement and in the Conditions. 10.2 9.2 If some only of the Notes are to be redeemed, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Issuer reasonable notice of the time and place proposed for the drawing and the Issuer shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 9.3 The Agent shall publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents of any date fixed for redemption of any Notes. 10.4 9.4 Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 If the Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the decision to the Agent and to the Noteholders in accordance with the Conditions, stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than (a) 15 days before (if the date on which the Issuer will give notice Notes are in definitive form) or (b) 7 Business Days prior to the Noteholders in accordance with the Conditions of the such redemption in order to enable the Agent to carry out its duties in this Agreement and in the Conditions. 10.2 If some only of the Notes are to be redeemed, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Issuer reasonable notice of the time and place proposed for the drawing and the Issuer shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 The Agent shall publish arrange for publication of the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents Agents, if any, of any date fixed for redemption of any Notes. 10.4 Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Receipts, Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Receipts, Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Receipts, Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall (except where the Paying Agent is the Agent) promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 13.1 If the Issuer decides to redeem any Notes Covered Bonds for the time being outstanding before their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the such decision to the Security Trustee and the Principal Paying Agent or the Registrar stating the date on which the Notes Covered Bonds are to be redeemed and the nominal amount of Notes Covered Bonds to be redeemed not less than 15 fifteen (15) calendar days before the date on which the Issuer will give notice to the Noteholders Covered Bondholders in accordance with the Conditions of the redemption in order to enable the Principal Paying Agent or the Registrar to carry out its duties in this Agreement and in the Conditions. 10.2 13.2 If some only of the Notes Covered Bonds are to be redeemed, the Principal Paying Agent shall, in the case of Definitive NotesCovered Bonds or Registered Covered Bonds, make the required drawing in accordance with the Conditions but shall give the Issuer and the Security Trustee reasonable notice of the time and place proposed for the drawing and the Issuer and the Security Trustee shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global formGlobal Covered Bonds, co-ordinate the selection of Notes Covered Bonds to be redeemed with Euroclear and and/or Clearstream, LuxembourgLuxembourg and/or Euroclear Nederland and/or any other agreed clearing system, all in accordance with the Conditions. 10.3 13.3 The Principal Paying Agent shall (at the expense of the Issuer) publish the notice required in connection with any such redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form Definitive Covered Bonds previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive NotesCovered Bonds or Registered Covered Bonds, (i) the serial numbers of the Notes to be redeemedDefinitive Covered Bonds and (ii) in the case of Registered Covered Bonds, the nominal amount drawn and the holders thereof. The notice will be published in accordance with the Conditions. The Principal Paying Agent will also notify the Security Trustee, the Registrar and the other Paying Agents of any date fixed for redemption of any NotesCovered Bonds. 10.4 Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 9.1 If the Relevant Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date (if any) in accordance with the Conditions, the Relevant Issuer shall give notice of the decision to the Trustee, the relevant Guarantors and the Principal Paying Agent stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the Relevant Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Principal Paying Agent to carry out its duties in this Agreement and in the Conditions. 10.2 9.2 If only some only of the Notes are to be redeemed, the Principal Paying Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Relevant Issuer and the Trustee reasonable notice of the time and place proposed for the drawing and the Relevant Issuer and the Trustee shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and and/or Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 9.3 The Principal Paying Agent shall publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, Notes the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Principal Paying Agent will also notify the Trustee and the other Paying Agents of any date fixed for redemption of any Notes. 10.4 9.4 Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, option each Paying Agent shall promptly notify the Principal Paying Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Principal Paying Agent shall promptly notify those details to the IssuerRelevant Issuer and the relevant Guarantors.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 If the Issuer decides to redeem any Notes for the time being outstanding before prior to their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the such decision to the Agent and the Trustee stating the date on which the such Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the latest date on which for the Issuer will give notice to the Noteholders in accordance with the Conditions publication of the notice of redemption in order required to enable the Agent be given to carry out its duties in this Agreement and in the ConditionsNoteholders. 10.2 If some only of the Notes are to be redeemedredeemed on such date, the Agent shall, in the case of Definitive Notes, shall make the required drawing in accordance with the Conditions but shall give the Issuer and the Trustee reasonable notice of the time and place proposed for the such drawing and the Issuer and the Trustee shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditionssuch drawing. 10.3 The Agent shall publish the notice required in connection with any such redemption and shall, if applicable, shall at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption Such notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notesredemption, the serial numbers of the Notes to be redeemed. The Such notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents Agent(s) of any date fixed for redemption of any Notes. 10.4 Each Paying Agent will keep a stock of notices (each a Put Notices Notice) in the form set out in Schedule 2 and will make them such notices available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put such option in accordance with the Conditions, the Paying Agent with which the such Note is deposited shall hold the such Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the such option, when, subject as provided below, it shall present the such Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due thereon together with any interest due on the such date of redemption in accordance with the Conditions and shall pay those such moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the such due date for its redemption, an Event of Default has occurred and is continuing or the such Note becomes immediately due and repayable or if upon due presentation payment of the such redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the such Note (together with any such Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of such insurance to the relevant Paying Agent at the time of depositing the Notes) Notes at the such address as may have been given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put such option, each Paying Agent shall promptly notify the Agent of the principal nominal amount of the Notes in respect of which the such option has been exercised with it together with (in the case of Notes in definitive form) their serial numbers and the Agent shall promptly notify those such details to the IssuerIssuer and the Trustee.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 9.1 If the Relevant Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date in accordance with the Conditions, the Relevant Issuer shall give notice of the decision to the Trustee and the Agent stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 five business days in London before the date on which the Relevant Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Agent to carry out its duties in this Agreement and in the Conditions. 10.2 9.2 If some only of the Notes are to be redeemed, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Issuer Relevant Issuer, the Guarantors and the Trustee reasonable notice of the time and place proposed for the drawing and the Issuer Relevant Issuer, the Guarantors and the Trustee shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 9.3 The Agent shall publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Agent will also notify the Trustee and the other Paying Agents of any date fixed for redemption of any Notes. 10.4 9.4 Each Paying Agent will keep a stock of Put Notices and Change of Control Put Exercise Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice or Change of Control Put Exercise Notice, as the case may be. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice or Change of Control Put Exercise Notice, as the case may be. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the Relevant Issuer, the Guarantors and the Trustee.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 9.1 If the Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the decision to the Agent stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Agent to carry out its duties in this Agreement and in the Conditions. 10.2 9.2 If some only of the Notes are to be redeemed, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Issuer reasonable notice of the time and place proposed for the drawing and the Issuer shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate consult with the selection Issuer to determine the method by which some only of the Notes are to be redeemed with having regard to the practices of Euroclear and Clearstream, Luxembourgas applicable, all in accordance with the Conditions. 10.3 9.3 The Agent shall publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Definitive Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents of any date fixed for redemption of any Notes. 10.4 9.4 Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 9.1 If the Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the decision to the Agent stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Agent to carry out its duties in this Agreement and in the Conditions. 10.2 9.2 If some only of the Notes are to be redeemed, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Issuer reasonable notice of the time and place proposed for the drawing and the Issuer shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 9.3 The Agent shall publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents of any date fixed for redemption of any Notes. 10.4 9.4 Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Receipts, Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Receipts, Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Receipts, Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 9.1 If the Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the decision to the Agent stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Agent to carry out its duties in this Agreement and in the Conditions. 10.2 9.2 If some only of the Notes are to be redeemed, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Issuer reasonable notice of the time and place proposed for the drawing and the Issuer shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 9.3 The Agent shall shall, at the request and at the expense of the Issuer, publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents of any date fixed for redemption of any Notes. 10.4 Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 9.1 If the Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the decision to the Agent stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Agent to carry out its duties in this Agreement and in the Conditions. 10.2 9.2 If some only of the Notes are to be redeemed, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Issuer reasonable notice of the time and place proposed for the drawing and the Issuer shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 9.3 The Agent shall shall, at the request and at the expense of the Issuer, publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents of any date fixed for redemption of any Notes. 10.4 Each 9.4 For the purposes of Condition 7.6 in respect of Senior Preferred Notes which are not Restricted Senior Preferred Notes only, each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall shall, at the request of the Issuer, promptly notify those details to the Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 9.1 If the Relevant Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date (if any) in accordance with the Conditions, the Relevant Issuer shall give notice of the decision to the Trustee, the relevant Guarantors and the Principal Paying Agent stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the Relevant Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Principal Paying Agent to carry out its duties in this Agreement and in the Conditions. 10.2 9.2 If only some only of the Notes are to be redeemed, the Principal Paying Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Relevant Issuer and the Trustee reasonable notice of the time and place proposed for the drawing and the Relevant Issuer and the Trustee shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and and/or Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 9.3 The Principal Paying Agent shall publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will w ill be effected and, in the case of a partial redemption of Definitive Notes, Notes the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Principal Paying Agent will also notify the Trustee and the other Paying Agents of any date fixed for redemption of any Notes. 10.4 9.4 Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with accordanc e w ith the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (( but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, option each Paying Agent shall promptly notify the Principal Paying Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and and‌ the Principal Paying Agent shall promptly notify those details to the IssuerRelevant Issuer and the relevant Guarantors.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 (1) If the Issuer decides to redeem any Notes for the time being outstanding before prior to their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the such decision to the Agent stating the date on which the such Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the Issuer will give notice to the Noteholders in accordance with the Conditions of the such redemption in order to enable the Agent to carry out undertake its duties in this Agreement obligations herein and in the Conditions. 10.2 (2) If some only of the Notes are to be redeemedredeemed on such date, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Issuer reasonable notice of the time and place proposed for the such drawing and the Issuer shall be entitled to send representatives to attend the such drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, LuxembourgCedelbank, all in accordance with the Conditions. 10.3 (3) The Agent shall publish the notice required in connection with any such redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption Such notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The Such notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents of any date fixed for redemption of any Notes. 10.4 (4) Each Paying Agent will keep a stock of notices ("Put Notices Notices") in the form set out in Schedule 3 and will make them such notices available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any such Note deposited in the exercise of a put such option in accordance with the Conditions, the Paying Agent with which the such Note is deposited shall hold the such Note (together with any Receipts, Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the such option, when, subject as provided below, it shall present the such Note (and any such unmatured Receipts, Coupons and Talons) to itself for payment of the amount due thereon together with any interest due on the such date of redemption in accordance with the Conditions and shall pay those such moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the such due date for its redemption, an Event of Default has occurred and is continuing or the such Note becomes immediately due and repayable or if upon due presentation payment of the such redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the such Note (together with any such Receipts, Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (Noteholder, unless the Noteholder has otherwise requested and paid the costs of such insurance to the relevant Paying Agent at the time of depositing the Notes) , at the such address as may have been given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put such option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the such option has been exercised with it together with their serial numbers and the Agent shall promptly notify those such details to the Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 If the relevant Issuer decides to redeem any Notes for the time being outstanding before prior to their Maturity Date in accordance with the Conditions, the relevant Issuer shall give notice of the such decision to the Agent and the Trustee stating the date on which the such Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the relevant Issuer will give notice to the Noteholders in accordance with the Conditions Condition 16 of the redemption in order to enable to the Agent to carry out its duties in this Agreement and in the Conditions. 10.2 If some only of the Notes are to be redeemed, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the relevant Issuer and the Trustee reasonable notice of the time and place proposed for the such drawing and the relevant Issuer and the Trustee shall be entitled to send representatives to attend the such drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 The Agent shall publish the notice required in connection with any such redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption Such notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The Such notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents of any date fixed for redemption of any Notes. 10.4 Each Paying Agent will keep a stock of notices (each a Put Notices Notice) in the form set out in Schedule 2 and will make them such notices available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put such option in accordance with the Conditions, the Paying Agent with which the such Note is deposited shall hold the such Note (together with any Receipts, Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the such option, when, subject as provided below, it shall present the such Note (and any such unmatured Receipts, Coupons and Talons) to itself for payment of the amount due thereon together with any interest due on the such date of redemption in accordance with the Conditions and shall pay those such moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the such due date for its redemption, an Event of Default has occurred and is continuing or the such Note becomes immediately due and repayable or if upon due presentation payment of the such redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the such Note (together with any such Receipts, Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of such insurance to the relevant Paying Agent at the time of depositing the Notes) Notes at the such address as may have been given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put such option, each Paying Agent shall promptly notify the Agent of the principal nominal amount of the Notes in respect of which the such option has been exercised with it together with (in the case of Notes in definitive form) their serial numbers and the Agent shall promptly notify those such details to the Issuerrelevant Issuer and the Trustee.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 If the relevant Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date in accordance with the Conditions, the relevant Issuer shall give notice of the decision to the Agent stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the relevant Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Agent to carry out its duties in this Agreement and in the Conditions. 10.2 If some only of the Notes are to be redeemed, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the relevant Issuer and, if the applicable, the Guarantor reasonable notice of the time and place proposed for the drawing and the relevant Issuer and, if the applicable, the Guarantor shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 The Agent shall publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents of any date fixed for redemption of any Notes. 10.4 Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Receipts, Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Receipts, Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Receipts, Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the relevant Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 If the Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the decision to the Trustee and the Agent stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days as soon as reasonably practicable before the date on which the Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Agent to carry out its duties in this Agreement and in the Conditions. 10.2 If only some only of the Notes are to be redeemed, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Issuer reasonable notice of the time and place proposed for the drawing and the Issuer shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 The Agent shall publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Agent will also notify the Trustee and the other Paying Agents of any date fixed for redemption of any Notes. 10.4 Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 If the Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the decision to the Trustee and the Agent stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days as soon as reasonably practicable before the date on which the Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Agent to carry out its duties in this Agreement and in the Conditions. 10.2 If some only of the Notes are to be redeemed, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Issuer reasonable notice of the time and place proposed for the drawing and the Issuer shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 The Agent shall publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Agent will also notify the Trustee and the other Paying Agents of any date fixed for redemption of any Notes. 10.4 Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 9.1 If the Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the decision to the Agent stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Agent to carry out its duties in this Agreement and in the Conditions. 10.2 9.2 If some only of the Notes are to be redeemed, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Issuer reasonable notice of the time and place proposed for the drawing and the Issuer shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 9.3 The Agent shall publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents of any date fixed for redemption of any Notes.Notes.‌ 10.4 9.4 Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the Issuer.of

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 9.1 If the Relevant Issuer decides to redeem any Notes for the time being outstanding before prior to their Maturity Date in accordance with the Conditions, the Relevant Issuer shall give notice of the such decision to the Agent and the Trustee stating the date on which the such Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the Relevant Issuer will give notice to the Noteholders in accordance with the Conditions of the such redemption in order to enable the Agent to carry out undertake its duties in this Agreement obligations herein and in the Conditions. 10.2 9.2 If some only of the Notes are to be redeemedredeemed on such date, the Agent shall, shall (a) in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Issuer Relevant Issuer, (in the case of Guaranteed Notes) the Guarantor and the Trustee reasonable notice of the time and place proposed for the such drawing and the Issuer Relevant Issuer, (if applicable) the Guarantor and the Trustee shall be entitled to send representatives to attend the such drawing and shall, (b) in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 9.3 The Agent shall publish the notice required in connection with any such redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption Such notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The Such notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents of any date fixed for redemption of any Notes.Notes.‌‌‌ 10.4 9.4 Each Paying Agent will keep a stock of Put Notices in the form set out in Schedule 2 and will make them such notices available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any such Note deposited in the exercise of a put such option in accordance with the Conditions, the Paying Agent with which the such Note is deposited shall hold the such Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the such option, when, subject as provided below, it shall present the such Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due thereon together with any interest due on the such date of redemption in accordance with the Conditions and shall pay those such moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the such due date for its redemption, an Event of Default has occurred and is continuing or the such Note becomes immediately due and repayable or if upon due presentation payment of the such redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the such Note (together with any such Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (Noteholder, unless the Noteholder has otherwise requested and paid the costs of such insurance to the relevant Paying Agent at the time of depositing the Notes) , at the such address as may have been given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put such option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the such option has been exercised with it together with their serial numbers and the Agent shall promptly notify those such details to the Relevant Issuer, (in the case of Guaranteed Notes) the Guarantor and the Trustee.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 ‌ 13.1 If the Issuer decides to redeem any Notes Covered Bonds for the time being outstanding before their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the such decision to the Security Trustee, the Rating Agencies and the Principal Paying Agent or the Registrar stating the date on which the Notes Covered Bonds are to be redeemed and the nominal amount of Notes Covered Bonds to be redeemed not less than 15 fifteen (15) calendar days before the date on which the Issuer will give notice to the Noteholders Covered Bondholders in accordance with the Conditions of the redemption in order to enable the Principal Paying Agent or the Registrar to carry out its duties in this Agreement and in the Conditions. 10.2 13.2 If some only of the Notes Covered Bonds are to be redeemed, the Principal Paying Agent shall, in the case of Definitive NotesCovered Bonds or Registered Covered Bonds, make the required drawing in accordance with the Conditions but shall give the Issuer and the Security Trustee reasonable notice of the time and place proposed for the drawing and the Issuer and the Security Trustee shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global formGlobal Covered Bonds, co-ordinate the selection of Notes Covered Bonds to be redeemed with Euroclear and and/or Clearstream, LuxembourgLuxembourg and/or Euroclear Nederland and/or any other agreed clearing system, all in accordance with the Conditions. 10.3 13.3 The Principal Paying Agent shall (at the expense of the Issuer) publish the notice required in connection with any such redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form Definitive Covered Bonds previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive NotesCovered Bonds or Registered Covered Bonds, (i) the serial numbers of the Notes to be redeemedDefinitive Covered Bonds and (ii) in the case of Registered Covered Bonds, the nominal amount drawn and the holders thereof. The notice will be published in accordance with the Conditions. The Principal Paying Agent will also notify the Security Trustee, the Registrar and the other Paying Agents of any date fixed for redemption of any NotesCovered Bonds. 10.4 Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 If the Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date (if any) in accordance with the Conditions, the Issuer shall give notice of the decision to the Agent stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Agent to carry out its duties in this Agreement and in the Conditions. 10.2 If some only of the Notes are to be redeemedredeemed on such date, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Issuer reasonable notice of the time and place proposed for the drawing and the Issuer shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 The Agent Agent, at the expense of the Issuer, shall publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents of any date fixed for redemption of any Notes. 10.4 Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Receipts, Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Receipts, Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Receipts, Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 (1) If the Issuer decides to redeem any Notes for the time being outstanding before prior to their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the such decision to the Agent stating the date on which the such Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the Issuer will give notice to the Noteholders in accordance with the Conditions of the such redemption in order to enable the Agent to carry out undertake its duties in this Agreement obligations herein and in the Conditions. 10.2 (2) If some only of the Notes are to be redeemedredeemed on such date, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Issuer reasonable notice of the time and place proposed for the such drawing and the Issuer shall be entitled to send representatives to attend the such drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 (3) The Agent shall publish the notice required in connection with any such redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption Such notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The Such notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents of any date fixed for redemption of any Notes. 10.4 (4) Each Paying Agent will keep a stock of Put Notices notices ("PUT NOTICES") in the form set out in Schedule 3 and will make them such notices available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any such Note deposited in the exercise of a put such option in accordance with the Conditions, the Paying Agent with which the such Note is deposited shall hold the such Note (together with any Receipts, Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the such option, when, subject as provided below, it shall present the such Note (and any such unmatured Receipts, Coupons and Talons) to itself for payment of the amount due thereon together with any interest due on the such date of redemption in accordance with the Conditions and shall pay those such moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the such due date for its redemption, an Event of Default has occurred and is continuing or the such Note becomes immediately due and repayable or if upon due presentation payment of the such redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the such Note (together with any such Receipts, Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (Noteholder, unless the Noteholder has otherwise requested and paid the costs of such insurance to the relevant Paying Agent at the time of depositing the Notes) , at the such address as may have been given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put such option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the such option has been exercised with it together with their serial numbers and the Agent shall promptly notify those such details to the Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. ‌ 10.1 If the relevant Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date in accordance with the Conditions, the relevant Issuer shall give notice of the decision to the Agent stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the relevant Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Agent to carry out its duties in this Agreement and in the Conditions.Conditions.‌ 10.2 If some only of the Notes are to be redeemed, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the relevant Issuer and, if the applicable, the Guarantor reasonable notice of the time and place proposed for the drawing and the relevant Issuer and, if the applicable, the Guarantor shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 The Agent shall publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents of any date fixed for redemption of any Notes. 10.4 Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Receipts, Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Receipts, Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Receipts, Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the relevant Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 13.1 If REN B.V. intends (other than consequent upon an Event of Default) to redeem all or any of the Non-Book-Entry Notes prior to their stated maturity date or to exercise any other option under the Conditions, it shall, not less than 14 days prior to the latest date for the publication of the notice of redemption or of exercise of REN B.V.'s option required to be given to the Holders of any Notes, or such time limit as may be decided by REN B.V., notwithstanding that such period shall not be less than five business days, give notice of such intention to the Issue and Paying Agent and the Trustee or, in the case of Registered Notes, to the Registrar (copied to the Issue and Paying Agent) and the Trustee stating the date on which such Notes are to be redeemed or such option is to be exercised. For the avoidance of doubt if REN B.V. reduces the number of days' notice that the Issue and Paying Agent or, as the case may be, the Registrar and the Trustee receives prior to the latest date for publication of the notice, none of the Issue and Paying Agent, the Trustee and the Registrar shall be liable for any consequent delay in notice being published in accordance with the Conditions. 13.2 In respect of any Notes to which Investor Put applies or which carries any other right of redemption or other right exercisable at the option of the Holders of such Notes, the relevant Issuer will provide the relevant Paying Agent or, in the case of Registered Notes, the Registrar with copies of the form of the put notice (set out in Schedule 2 hereto) or exercise notice and the relevant Paying Agent shall make available to Holders, during the applicable period specified in Condition 7.6 for the deposit of the relevant Put Notices, forms of Put Notices upon request during usual business hours at its specified office. Upon receipt by the relevant Paying Agent of a duly completed Put Notice and, in the case of Non-Book-Entry Notes in definitive form, the Note, or in the case of Book-Entry Notes, any Certificate deposited in the exercise of such option, in accordance with Condition 7.6 the relevant Paying Agent shall notify the relevant Issuer indicating the principal amount of the Notes in respect of which the Investor Put is exercised and the Portuguese Paying Agent shall, on behalf of REN, notify Interbolsa of the exercise of the relevant Investor Put and shall request the redemption and cancellation of the relevant Book-Entry Notes. The relevant Paying Agent or, in the case of Registered Notes, the Registrar with which such Note or Certificate (as the case may be) is deposited shall hold such Note or Certificate (together with, in the case of a Definitive Bearer Note, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Note or Certificate (in the case of Book-Entry Notes) (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of such option, or, as the case may be, the date upon which the exercise of such option takes effect when, in the case of redemption and subject as provided below, it shall present such Note or Certificate (and any such Receipts and/or Coupons) to itself for payment in accordance with the Conditions and shall pay such moneys in accordance with the directions of the Holder of the Note contained in the relevant redemption notice. In the case of an exercise of any other option, the relevant Paying Agent or, in the case of Registered Notes, the Registrar shall take such steps as may be required to be taken by it in the Conditions. The Portuguese Paying Agent shall, subject to the provisions of Clause 11, and the Issue and Paying Agent shall, subject to the provisions of Clause 12, on the applicable Optional Redemption Date make payment of the redemption moneys in respect of the relevant Notes and interest (if any) accrued to such date in accordance with the Conditions and pay such amounts in accordance with the directions of the holder contained in the Put Notice; provided, however, that if, prior to the applicable Optional Redemption Date, the Notes of the relevant holder become immediately due and payable or, on the applicable Optional Redemption Date, payment of the redemption moneys is improperly withheld or refused, the relevant Agent shall post notification thereof to the depositing holder at such address as may have been given by such holder in the relevant Put Notice and shall return to the depositing holder the relevant Put Notice. If, prior to such due date for its redemption or the date upon which the exercise of such option takes effect, an Event of Default occurs in respect of such Note or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, in the case of Registered Notes, the Registrar shall, without prejudice to the exercise of such option, mail such Note or Certificate (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder of the relevant Note at such address as may have been given by such Holder in the relevant redemption notice. 13.3 If XXX decides to redeem any Book-Entry Notes for the time being outstanding before their Maturity Date in accordance with the Conditions, the Issuer REN shall give notice of the decision to the Portuguese Paying Agent and Interbolsa stating the date on which the Book-Entry Notes are to be redeemed and the nominal amount of Book-Entry Notes to be redeemed not less than 15 days before the date on which the Issuer REN will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Portuguese Paying Agent to carry out its duties in this Agreement and in the Conditions. 10.2 If some only . REN shall comply with the applicable Portuguese laws, regulations and procedures and with procedures set forth in this Agreement in respect of the Notes are early redemption and the exercise of options in relation to be redeemed, the Agent shall, in Book-Entry Notes 13.4 In the case of Definitive a partial redemption of Book-Entry Notes, make the required drawing in accordance with the Conditions but shall give the Issuer reasonable notice nominal amount of the time and place proposed for the drawing and the Issuer shall all outstanding Book- Entry Notes will be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditionsreduced proportionally. 10.3 13.5 The Agent Portuguese Paying Agent, upon request and at the expense of REN, shall publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for such redemption. The redemption Such notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption redemption, such notice shall also specify the nominal amount of Definitive Notes, the serial numbers of the all outstanding Book- Entry Notes to that will be redeemedredeemed proportionally. The Such notice will be published in accordance with the Conditions. The Portuguese Paying Agent will also notify the other Paying Agents of any date fixed for redemption of any Book-Entry Notes. 10.4 Each 13.6 The Issuers shall procure that all Notes which are (a) redeemed or (b) purchased for cancellation by or on behalf of REN or any of its Subsidiaries, will be forthwith cancelled by Interbolsa (in the case of Book-Entry Notes) following receipt by Interbolsa of notice thereof or the Issue and Paying Agent will keep (in the case of Non- Book-Entry Notes) (as applicable) and any Notes so redeemed or purchased and cancelled may not be held, reissued or resold. 13.7 Whilst the Notes are held through Interbolsa, the Portuguese Paying Agent shall, as soon as reasonably practicable after receipt of a stock written request from REN, request Interbolsa to produce a certificate stating: (a) the aggregate nominal amount of Put Notices Notes which have been redeemed and will make them available the aggregate amount paid in respect thereof; (b) the number of Notes cancelled; and (c) the aggregate amount paid in respect of interest on demand to holders the Notes. 13.8 The Issue and Paying Agent or, in the case of Definitive Book-Entry Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the ConditionsPortuguese Paying Agent, the Paying Agent with which the Note is deposited shall hold the Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall notrelevant Issuer) submit such reports or information as may be required from time to time in relation to the issue and purchase of Notes by applicable law, save as provided below, release it) until the due date for redemption of regulations and guidelines enacted by the relevant Note consequent upon governmental regulatory authorities (in particular, Notes denominated in or linked to any currency other than the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the Issuereuro).

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 ‌ 9.1 If the Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the decision to the Agent stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 5 (five) days before the date on which the Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Agent to carry out its duties in this Agreement and in the Conditions. 10.2 9.2 If some only of the Notes are to be redeemed, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Issuer reasonable notice of the time and place proposed for the drawing and the Issuer shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 9.3 The Agent shall publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents of any date fixed for redemption of any Notes. 10.4 9.4 Each Paying Agent will keep a stock shall make forms of Put Notices Option Notice available upon request to Noteholders during the period specified in Condition 8.5 (Redemption and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption Purchase - Redemption at the option of Noteholders) for the deposit of Put Option Notices during usual business hours at its specified office. Upon receipt by a Paying Agent of any Note deposited a duly completed Put Option Notice and, in the exercise case of a put option Put Option Notice relating to Definitive Notes, such Definitive Notes in accordance with Condition 8.5 (Redemption and Purchase - Redemption at the Conditionsoption of Noteholders), such Paying Agent shall notify the Issuer and (in the case of a Paying Agent other than the Agent) the Agent thereof indicating the certificate or serial numbers (if any) and principal amount of the Notes in respect of which a Put Option is exercised. 9.5 Any such Paying Agent with which the a Definitive Note is deposited shall deliver a duly completed Put Option Receipt to the depositing Noteholder and shall hold the such Definitive Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided belowbelow or in the Conditions, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the optionPut Option Redemption Date, when, subject as provided below, when it shall present the such Definitive Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due together with any redemption moneys therefor and interest due on the (if any) accrued to such date of redemption in accordance with the Conditions and shall pay those moneys such amounts in accordance with the directions of the Noteholder contained in the relevant Put Option Notice. If; provided, however, that if, prior to the due date for its redemptionsuch Put Option Redemption Date, an Event of Default has occurred and is continuing or the such Definitive Note becomes immediately due and repayable payable or if upon due presentation of such Definitive Note payment of the such redemption moneys is improperly withheld or refused, the relevant Paying Agent concerned shall post give notification thereof to the depositing Noteholder at such address as may have been given by such Noteholder in the relevant Put Option Notice and shall hold such Note (together with any such Coupons and Talons) at its specified office for collection by uninsured post tothe depositing Noteholder against surrender of the relevant Put Option Receipt. For so long as any outstanding Definitive Note is held by a Paying Agent in accordance with the preceding sentence, the depositor of the relevant Definitive Note, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to not the relevant Paying Agent at Agent, shall be deemed to be the time bearer of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period such Definitive Note for the exercise of any put option, each all purposes. 9.6 Any Paying Agent shall promptly notify the Agent of the principal amount of the Notes which receives a Put Option Notice in respect of which Notes represented by the option has been exercised Permanent Global Note shall make payment of the relevant redemption moneys and interest accrued to the Put Option Redemption Date in accordance with it together with their serial numbers the Conditions and the Agent shall promptly notify those details to terms of the IssuerPermanent Global Note.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 ‌ 9.1 If the Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the decision to the Agent stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Agent to carry out its duties in this Agreement and in the Conditions. 10.2 9.2 If some only of the Notes are to be redeemed, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Issuer reasonable notice of the time and place proposed for the drawing and the Issuer shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 9.3 The Agent shall publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents of any date fixed for redemption of any Notes. 10.4 9.4 Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 9.1 If the Relevant Issuer decides to redeem any Notes for the time being outstanding before prior to their Maturity Date in accordance with the Conditions, the Relevant Issuer shall give notice of the such decision to the Agent and the Trustee stating the date on which the such Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the Relevant Issuer will give notice to the Noteholders in accordance with the Conditions of the such redemption in order to enable the Agent to carry out undertake its duties in this Agreement obligations herein and in the Conditions. 10.2 9.2 If some only of the Notes are to be redeemedredeemed on such date, the Agent shall, shall (a) in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Issuer Relevant Issuer, (in the case of Guaranteed Notes) the Guarantor and the Trustee reasonable notice of the time and place proposed for the such drawing and the Issuer Relevant Issuer, (if applicable) the Guarantor and the Trustee shall be entitled to send representatives to attend the such drawing and shall, (b) in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 9.3 The Agent shall publish the notice required in connection with any such redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption Such notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The Such notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents of any date fixed for redemption of any Notes. 10.4 9.4 Each Paying Agent will keep a stock of Put Notices in the form set out in Schedule 2 and will make them such notices available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any such Note deposited in the exercise of a put such option in accordance with the Conditions, the Paying Agent with which the such Note is deposited shall hold the such Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the such option, when, subject as provided below, it shall present the such Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due thereon together with any interest due on the such date of redemption in accordance with the Conditions and shall pay those such moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the such due date for its redemption, an Event of Default has occurred and is continuing or the such Note becomes immediately due and repayable or if upon due presentation payment of the such redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the such Note (together with any such Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (Noteholder, unless the Noteholder has otherwise requested and paid the costs of such insurance to the relevant Paying Agent at the time of depositing the Notes) , at the such address as may have been given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put such option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the such option has been exercised with it together with their serial numbers and the Agent shall promptly notify those such details to the Relevant Issuer, (in the case of Guaranteed Notes) the Guarantor and the Trustee.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 13.1 If the relevant Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date (if any) in accordance with the Conditions, the relevant Issuer shall give notice of the decision to the Issuing and Principal Paying Agent stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the relevant Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Issuing and Principal Paying Agent to carry out its duties in this Agreement and in the Conditions. 10.2 13.2 If some only of the Notes are to be redeemed, the Issuing and Principal Paying Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the relevant Issuer reasonable notice of the time and place proposed for the drawing and the relevant Issuer shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 13.3 The Issuing and Principal Paying Agent shall publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Issuing and Principal Paying Agent will also notify the other Paying Agents of any date fixed for redemption of any Notes. 10.4 Each 13.4 The Registrar and each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, Notes the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Registrar or, as the case may be, the Paying Agent with which the Note is deposited shall hold the Note (together with any Receipts, Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Receipts, Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Registrar or, as the case may be, the Paying Agent concerned shall post the Note (together with any such Receipts, Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. In the case of a partial redemption of Registered Notes, the Registrar shall, in accordance with the Conditions, post a new Registered Note in respect of the balance of the Registered Notes not redeemed to the registered holder. At the end of each period for the exercise of any put option, option the Registrar and each Paying Agent shall promptly notify the Issuing and Principal Paying Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Issuing and Principal Paying Agent shall promptly notify those details to the relevant Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 ‌ 13.1 If the Issuer decides to redeem any Notes Covered Bonds for the time being outstanding before their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the such decision to the Security Trustee and the Principal Paying Agent or the Registrar stating the date on which the Notes Covered Bonds are to be redeemed and the nominal amount of Notes Covered Bonds to be redeemed not less than 15 fifteen (15) calendar days before the date on which the Issuer will give notice to the Noteholders Covered Bondholders in accordance with the Conditions of the redemption in order to enable the Principal Paying Agent or the Registrar to carry out its duties in this Agreement and in the Conditions. 10.2 13.2 If some only of the Notes Covered Bonds are to be redeemed, the Principal Paying Agent shall, in the case of Definitive NotesCovered Bonds or Registered Covered Bonds, make the required drawing in accordance with the Conditions but shall give the Issuer and the Security Trustee reasonable notice of the time and place proposed for the drawing and the Issuer and the Security Trustee shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global formGlobal Covered Bonds, co-ordinate the selection of Notes Covered Bonds to be redeemed with Euroclear and and/or Clearstream, LuxembourgLuxembourg and/or Euroclear Nederland and/or any other agreed clearing system, all in accordance with the Conditions. 10.3 13.3 The Principal Paying Agent shall (at the expense of the Issuer) publish the notice required in connection with any such redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form Definitive Covered Bonds previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive NotesCovered Bonds or Registered Covered Bonds, (i) the serial numbers of the Notes to be redeemedDefinitive Covered Bonds and (ii) in the case of Registered Covered Bonds, the nominal amount drawn and the holders thereof. The notice will be published in accordance with the Conditions. The Principal Paying Agent will also notify the Security Trustee, the Registrar and the other Paying Agents of any date fixed for redemption of any NotesCovered Bonds. 10.4 Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 13.1 If REN B.V. intends (other than consequent upon an Event of Default) to redeem all or any of the Non-Book-Entry Notes prior to their stated maturity date or to exercise any other option under the Conditions, it shall, not less than 14 days prior to the latest date for the publication of the notice of redemption or of exercise of REN B.V.'s option required to be given to the Holders of any Notes, or such time limit as may be decided by REN B.V., notwithstanding that such period shall not be less than five business days, give notice of such intention to the Issue and Paying Agent and the Trustee or, in the case of Registered Notes, to the Registrar (copied to the Issue and Paying Agent) and the Trustee stating the date on which such Notes are to be redeemed or such option is to be exercised. For the avoidance of doubt if REN B.V. reduces the number of days' notice that the Issue and Paying Agent or, as the case may be, the Registrar and the Trustee receives prior to the latest date for publication of the notice, none of the Issue and Paying Agent, the Trustee and the Registrar shall be liable for any consequent delay in notice being published in accordance with the Conditions. 13.2 In respect of any Notes to which Investor Put applies or which carries any other right of redemption or other right exercisable at the option of the Holders of such Notes, the relevant Issuer will provide the relevant Paying Agent or, in the case of Registered Notes, the Registrar with copies of the form of the put notice (set out in Schedule 2 hereto) or exercise notice and the relevant Paying Agent shall make available to Holders, during the applicable period specified in Condition 7.6 for the deposit of the relevant Put Notices, forms of Put Notices upon request during usual business hours at its specified office. Upon receipt by the relevant Paying Agent of a duly completed Put Notice and, in the case of Non-Book-Entry Notes in definitive form, the Note, or in the case of Book-Entry Notes, any Certificate deposited in the exercise of such option, in accordance with Condition 7.6 the relevant Paying Agent shall notify the relevant Issuer indicating the principal amount of the Notes in respect of which the Investor Put is exercised and the Portuguese Paying Agent shall, on behalf of REN, notify Interbolsa of the exercise of the relevant Investor Put and shall request the redemption and cancellation of the relevant Book-Entry Notes. The relevant Paying Agent or, in the case of Registered Notes, the Registrar with which such Note or Certificate (as the case may be) is deposited shall hold such Note or Certificate (together with, in the case of a Definitive Bearer Note, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Note or Certificate (in the case of Book-Entry Notes) (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of such option, or, as the case may be, the date upon which the exercise of such option takes effect when, in the case of redemption and subject as provided below, it shall present such Note or Certificate (and any such Receipts and/or Coupons) to itself for payment in accordance with the Conditions and shall pay such moneys in accordance with the directions of the Holder of the Note contained in the relevant redemption notice. In the case of an exercise of any other option, the relevant Paying Agent or, in the case of Registered Notes, the Registrar shall take such steps as may be required to be taken by it in the Conditions. The Portuguese Paying Agent shall, subject to the provisions of Clause 11, and the Issue and Paying Agent shall, subject to the provisions of Clause 12, on the applicable Optional Redemption Date make payment of the redemption moneys in respect of the relevant Notes and interest (if any) accrued to such date in accordance with the Conditions and pay such amounts in accordance with the directions of the holder contained in the Put Notice; provided, however, that if, prior to the applicable Optional Redemption Date, the Notes of the relevant holder become immediately due and payable or, on the applicable Optional Redemption Date, payment of the redemption moneys is improperly withheld or refused, the relevant Agent shall post notification thereof to the depositing holder at such address as may have been given by such holder in the relevant Put Notice and shall return to the depositing holder the relevant Put Notice. If, prior to such due date for its redemption or the date upon which the exercise of such option takes effect, an Event of Default occurs in respect of such Note or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, in the case of Registered Notes, the Registrar shall, without prejudice to the exercise of such option, mail such Note or Certificate (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder of the relevant Note at such address as may have been given by such Holder in the relevant redemption notice. 13.3 If REN decides to redeem any Book-Entry Notes for the time being outstanding before their Maturity Date in accordance with the Conditions, the Issuer REN shall give notice of the decision to the Portuguese Paying Agent and Interbolsa stating the date on which the Book-Entry Notes are to be redeemed and the nominal amount of Book-Entry Notes to be redeemed not less than 15 days before the date on which the Issuer REN will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Portuguese Paying Agent to carry out its duties in this Agreement and in the Conditions. 10.2 If some only . REN shall comply with the applicable Portuguese laws, regulations and procedures and with procedures set forth in this Agreement in respect of the Notes are early redemption and the exercise of options in relation to be redeemed, the Agent shall, in Book-Entry Notes 13.4 In the case of Definitive a partial redemption of Book-Entry Notes, make the required drawing in accordance with the Conditions but shall give the Issuer reasonable notice nominal amount of the time and place proposed for the drawing and the Issuer shall all outstanding Book-Entry Notes will be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditionsreduced proportionally. 10.3 13.5 The Agent Portuguese Paying Agent, upon request and at the expense of REN, shall publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for such redemption. The redemption Such notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption redemption, such notice shall also specify the nominal amount of Definitive Notes, the serial numbers of the all outstanding Book-Entry Notes to that will be redeemedredeemed proportionally. The Such notice will be published in accordance with the Conditions. The Portuguese Paying Agent will also notify the other Paying Agents of any date fixed for redemption of any Book-Entry Notes. 10.4 Each 13.6 The Issuers shall procure that all Notes which are (a) redeemed or (b) purchased for cancellation by or on behalf of REN or any of its Subsidiaries, will be forthwith cancelled by Interbolsa (in the case of Book-Entry Notes) following receipt by Interbolsa of notice thereof or the Issue and Paying Agent will keep (in the case of Non- Book-Entry Notes) (as applicable) and any Notes so redeemed or purchased and cancelled may not be held, reissued or resold. 13.7 Whilst the Notes are held through Interbolsa, the Portuguese Paying Agent shall, as soon as reasonably practicable after receipt of a stock written request from REN, request Interbolsa to produce a certificate stating: (a) the aggregate nominal amount of Put Notices Notes which have been redeemed and will make them available the aggregate amount paid in respect thereof; (b) the number of Notes cancelled; and (c) the aggregate amount paid in respect of interest on demand to holders the Notes. 13.8 The Issue and Paying Agent or, in the case of Definitive Book-Entry Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the ConditionsPortuguese Paying Agent, the Paying Agent with which the Note is deposited shall hold the Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall notrelevant Issuer) submit such reports or information as may be required from time to time in relation to the issue and purchase of Notes by applicable law, save as provided below, release it) until the due date for redemption of regulations and guidelines enacted by the relevant Note consequent upon governmental regulatory authorities (in particular, Notes denominated in or linked to any currency other than the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the Issuereuro).

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 (1) If the Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date (if any) in accordance with the Conditions, the Issuer shall give notice of the decision to the Agent stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Agent to carry out its duties in this Agreement and in the Conditions. 10.2 (2) If some only of the Notes are to be redeemed, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Issuer reasonable notice of the time and place proposed for the drawing and the Issuer shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 (3) The Agent shall publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents of any date fixed for redemption of any Notes. 10.4 (4) Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 9.1 If the Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the decision to the Agent and the Trustee stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Agent to carry out its duties in this Agreement and in the Conditions. 10.2 9.2 If some only of the Notes are to be redeemed, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Issuer and the Trustee reasonable notice of the time and place proposed for the drawing and the Issuer and the Trustee shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 9.3 The Agent shall publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents of any date fixed for redemption of any Notes. 10.4 9.4 Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the IssuerIssuer and the Trustee.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 (1) If the Issuer decides to redeem any Notes for the time being outstanding before prior to their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the such decision to the Agent stating the date on which the such Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the Issuer will give notice to the Noteholders in accordance with the Conditions of the such redemption in order to enable the Agent to carry out undertake its duties in this Agreement obligations herein and in the Conditions. 10.2 (2) If some only of the Notes are to be redeemedredeemed on such date, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Issuer reasonable notice of the time and place proposed for the such drawing and the Issuer shall be entitled to send representatives to attend the such drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 (3) The Agent shall publish the notice required in connection with any such redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption Such notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The Such notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents of any date fixed for redemption of any Notes. 10.4 (4) Each Paying Agent will keep a stock of notices (“Put Notices Notices”) in the form set out in Schedule 3 and will make them such notices available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any such Note deposited in the exercise of a put such option in accordance with the Conditions, the Paying Agent with which the such Note is deposited shall hold the such Note (together with any Receipts, Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the such option, when, subject as provided below, it shall present the such Note (and any such unmatured Receipts, Coupons and Talons) to itself for payment of the amount due thereon together with any interest due on the such date of redemption in accordance with the Conditions and shall pay those such moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the such due date for its redemption, an Event of Default has occurred and is continuing or the such Note becomes immediately due and repayable or if upon due presentation payment of the such redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the such Note (together with any such Receipts, Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (Noteholder, unless the Noteholder has otherwise requested and paid the costs of such insurance to the relevant Paying Agent at the time of depositing the Notes) , at the such address as may have been given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put such option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the such option has been exercised with it together with their serial numbers and the Agent shall promptly notify those such details to the Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 9.1 If the relevant Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date (if any) in accordance with the Conditions, the relevant Issuer shall give notice of the decision to the Agent stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the relevant Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Agent to carry out its duties in this Agreement and in the Conditions. 10.2 9.2 If some only of the Notes are to be redeemed, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the relevant Issuer reasonable notice of the time and place proposed for the drawing and the relevant Issuer shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 9.3 The Agent shall publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the applicable record date, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents of any date fixed for redemption of any Notes. 10.4 9.4 Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Receipts, Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Receipts, Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately as soon as reasonably practicable due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Receipts, Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the relevant Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. ‌ 10.1 If the Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the decision to the Agent and to the Noteholders in accordance with the Conditions, stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than (a) 15 days before (if the date on which the Issuer will give notice Notes are in definitive form) or (b) 7 Business Days prior to the Noteholders in accordance with the Conditions of the such redemption in order to enable the Agent to carry out its duties in this Agreement and in the Conditions. 10.2 If some only of the Notes are to be redeemed, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Issuer reasonable notice of the time and place proposed for the drawing and the Issuer shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 The Agent shall publish arrange for publication of the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents Agents, if any, of any date fixed for redemption of any Notes.Notes.‌ 10.4 Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Receipts, Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Receipts, Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Receipts, Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall (except where the Paying Agent is the Agent) promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 (a) If the Issuer decides to redeem any Notes Covered Bonds for the time being outstanding before their Maturity Date (if any) in accordance with the Conditions, the Issuer shall give notice of the decision to the Principal Paying Agent stating the date on which the Notes Covered Bonds are to be redeemed and the nominal amount of Notes Covered Bonds to be redeemed not less than 15 days before the date on which the Issuer will give notice to the Noteholders Covered Bondholders in accordance with the Conditions of the redemption in order to enable the Principal Paying Agent to carry out its duties in this Agreement and in the Conditions. 10.2 (b) If some only of the Notes Covered Bonds are to be redeemedredeemed on any date, the Principal Paying Agent shall, in the case of Definitive NotesCovered Bonds, make the required drawing in accordance with the Conditions but shall give the Issuer reasonable notice of the time and place proposed for the drawing and the Issuer shall be entitled to send representatives to attend the drawing and shall, in the case of Notes Covered Bonds in global form, co-ordinate the selection of Notes Covered Bonds to be redeemed with Euroclear and and/or Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 (c) The Agent Principal Paying Agent, at the expense of the Issuer, shall publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes Covered Bonds in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive NotesCovered Bonds, the serial numbers of the Notes Covered Bonds to be redeemed. The notice will be published in accordance with the Conditions. The Principal Paying Agent will also notify the other Paying Agents of any date fixed for redemption of any NotesCovered Bonds. 10.4 (d) Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive NotesCovered Bonds, the Conditions of which provide for redemption at the option of NoteholdersCovered Bondholders. Upon receipt of any Note Covered Bond deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note Covered Bond is deposited shall hold the Note Covered Bond (together with any Receipts, Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder Covered Bondholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note Covered Bond consequent upon the exercise of the option, when, subject as provided below, it shall present the Note Covered Bond (and any such unmatured Receipts, Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder Covered Bondholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note Covered Bond becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note Covered Bond (together with any such Receipts, Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder Covered Bondholder (unless the Noteholder Covered Bondholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the NotesCovered Bonds) at the address given by the Noteholder Covered Bondholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Principal Paying Agent of the principal amount of the Notes Covered Bonds in respect of which the option has been exercised with it together with their serial numbers and the Principal Paying Agent shall promptly notify those details to the Issuer.

DUTIES OF THE PAYING AGENTS IN CONNECTION WITH EARLY REDEMPTION. 10.1 If the Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the decision to the Agent stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Agent to carry out its duties in this Agreement and in the Conditions. 10.2 If some only of the Notes are to be redeemed, the Agent shall, in the case of Definitive Notes, make the required drawing in accordance with the Conditions but shall give the Issuer reasonable notice of the time and place proposed for the drawing and the Issuer shall be entitled to send representatives to attend the drawing and shall, in the case of Notes in global form, co-ordinate the selection of Notes to be redeemed with Euroclear and Clearstream, Luxembourg, all in accordance with the Conditions. 10.3 The Agent shall publish the notice required in connection with any redemption and shall, if applicable, at the same time also publish a separate list of the serial numbers of any Notes in definitive form previously drawn and not presented for redemption. The redemption notice shall specify the date fixed for redemption, the redemption amount, the manner in which redemption will be effected and, in the case of a partial redemption of Definitive Notes, the serial numbers of the Notes to be redeemed. The notice will be published in accordance with the Conditions. The Agent will also notify the other Paying Agents of any date fixed for redemption of any Notes. 10.4 Each Paying Agent will keep a stock of Put Notices and will make them available on demand to holders of Definitive Notes, the Conditions of which provide for redemption at the option of Noteholders. Upon receipt of any Note deposited in the exercise of a put option in accordance with the Conditions, the Paying Agent with which the Note is deposited shall hold the Note (together with any Receipts, Coupons and Talons relating to it deposited with it) on behalf of the depositing Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Note consequent upon the exercise of the option, when, subject as provided below, it shall present the Note (and any such unmatured Receipts, Coupons and Talons) to itself for payment of the amount due together with any interest due on the date of redemption in accordance with the Conditions and shall pay those moneys in accordance with the directions of the Noteholder contained in the relevant Put Notice. If, prior to the due date for its redemption, an Event of Default has occurred and is continuing or the Note becomes immediately due and repayable or if upon due presentation payment of the redemption moneys is improperly withheld or refused, the Paying Agent concerned shall post the Note (together with any such Receipts, Coupons and Talons) by uninsured post to, and at the risk of, the relevant Noteholder (unless the Noteholder has otherwise requested and paid the costs of insurance to the relevant Paying Agent at the time of depositing the Notes) at the address given by the Noteholder in the relevant Put Notice. At the end of each period for the exercise of any put option, each Paying Agent shall promptly notify the Agent of the principal amount of the Notes in respect of which the option has been exercised with it together with their serial numbers and the Agent shall promptly notify those details to the Issuer.