Common use of Early Redemption and Exercise of Options Clause in Contracts

Early Redemption and Exercise of Options. 10.01 If the Issuer intends (other than consequent upon an Issuer Event of Default) to redeem all or any of the Covered Bonds 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 the Issuer’s option required to be given to the Holders of any Covered Bonds, give written notice of such intention to the Bond Trustee and the Issuing and Paying Agent or, in the case of Registered Covered Bonds, the Registrar (copied to the Issuing and Paying Agent) stating the date on which such Covered Bonds are to be redeemed or such option is to be exercised. 10.02 In respect of any Covered Bonds to which Condition 6.07 applies or which carries any other right of redemption or other right exercisable at the option of the Holders of such Covered Bonds, the Issuer will provide the Paying Agents or, in the case of Registered Covered Bonds, the Registrar with copies of the form of the current redemption notice or exercise notice and the Paying Agents or, as the case may be, the Registrar will make available forms of the current redemption notice or exercise notice to Holders of Covered Bonds upon request during usual business hours at their respective specified offices. Upon receipt of any Covered Bond deposited in the exercise of such option, the Paying Agent or, in the case of Registered Covered Bonds, the Registrar with which such Covered Bond is deposited shall hold such Covered Bond (together with, in the case of a Definitive Covered Bond, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Covered Bond (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond 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 Covered Bond (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 Covered Bond 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 Covered Bonds, the Registrar, shall take such steps as may be required to be taken by it in the Conditions. 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 Covered Bond or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, as the case may be, the Registrar shall, without prejudice to the exercise of such option, mail such Covered Bond (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder of the relevant Covered Bond at such address as may have been given by such Holder in the relevant redemption notice. 10.03 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Bearer Covered Bonds each Paying Agent shall promptly notify the Issuing and Paying Agent of the principal amount of the Covered Bonds in respect of which such option has been exercised with it together with their serial numbers and the Issuing and Paying Agent shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of such details and, in the case of a Global Covered Bond that is a NGCB, shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule. 10.04 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Registered Covered Bonds, the Registrar shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of the principal amount of the Covered Bonds in respect of which such option has been exercised together with their serial numbers and in the case of a Registered Global Covered Bond held under the NSS, the European Registrar shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule.

Early Redemption and Exercise of Options. 10.01 12.1 If the Issuer intends (other than consequent upon an Issuer Event of Default) to redeem all or any of the Covered Bonds Instruments (other than Book Entry Instruments) prior to their stated maturity date or to exercise any other option under the relevant Terms and 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 the Issuer’s 's option required to be given to the Holders of any Covered BondsInstruments, give written notice of such intention to the Bond Trustee and the Issuing Issue and Paying Agent and the Trustee or, in the case of Registered Covered BondsInstruments, to the Registrar (copied to the Issuing Issue and Paying Agent) and the Trustee stating the date on which such Covered Bonds Instruments are to be redeemed or such option is to be exercised. For the avoidance of doubt if the Issuer 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 relevant Terms and Conditions. EDP shall comply with the applicable Portuguese laws, regulations and procedures and with procedures set forth in this Agreement in respect of the early redemption and the exercise of options in relation to Book Entry Instruments. 10.02 12.2 In respect of any Covered Bonds Instruments to which Condition 6.07 Investor Put or Investor Put on Change of Control applies or which carries any other right of redemption or other right exercisable at the option of the Holders of such Covered BondsInstruments, the Issuer will provide the Paying Agents or, in the case of Registered Covered BondsInstruments, the Registrar with copies of the form of the current redemption put notice or exercise notice and the Paying Agents or, as the case may be, the Registrar will make available forms of the current redemption put notice or exercise notice to Holders of Covered Bonds Instruments upon request during usual normal business hours at their respective specified offices. Upon receipt of any Covered Bond Instrument, or in the case of Book Entry Instruments, any Certificate deposited in the exercise of such option, the Paying Agent or, in the case of Registered Covered BondsInstruments, the Registrar with which such Covered Bond Instrument or Certificate (as the case may be) is deposited shall hold such Covered Bond Instrument or Certificate (together with, in the case of a Definitive Covered BondBearer Instrument, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Covered Bond Instrument or Certificate (in the case of Book Entry Instruments) (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond Instrument 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 Covered Bond Instrument or Certificate (and any such Receipts and/or Coupons) to itself for payment in accordance with the relevant Terms and Conditions and shall pay such moneys in accordance with the directions of the Holder of the Covered Bond Instrument 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 Covered BondsInstruments, the Registrar, Registrar shall take such steps as may be required to be taken by it in the relevant Terms and Conditions. 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 Covered Bond Instrument or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, as the case may be, the Registrar shall, without prejudice to the exercise of such option, mail such Covered Bond Instrument or Certificate (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder of the relevant Covered Bond Instrument at such address as may have been given by such Holder in the relevant redemption notice. 10.03 At 12.3 If EDP intends (other than consequent upon an Event of Default) to redeem all or any of the end of Book Entry Instruments prior to their stated maturity date or to exercise any applicable period other option under the relevant Terms and Conditions, it shall, not less than five Lisbon Business Days prior to the latest date for the publication of the notice of redemption or of exercise of such option required to be given to the Instrumentholders, give notice of such intention to the Portuguese Paying Agent stating the date on which such Book Entry Instruments are to be redeemed or such option is to be exercised. 12.4 In the case of Senior Instruments, the Issue and Paying Agent shall make available to Holders, during the applicable period specified in Condition 7.6 (Redemption at the option of the Holders (Investor Put)) and/or Condition 7.7 (Redemption at the option of the Holders (Investor Put on Change of Control)) for the deposit of the relevant Put Notices, or Put Option Notices, as the case may be, forms of Put Notices or Put Option Notices, as the case may be, upon request during usual business hours at its specified office. Upon receipt by the Issue and Paying Agent of a duly completed Put Notice and, in the case of Instruments in definitive form, the Instrument, in accordance with Condition 7.6 (Redemption at the option of the Holders (Investor Put)) or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Bearer Covered Bonds each Paying Agent shall promptly notify the Issuing and Paying Agent of the principal amount of the Covered Bonds in respect of which such option has been exercised with it together with their serial numbers and the Issuing and Paying Agent shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of such details a duly completed Put Option Notice and, in the case of a Global Covered Bond that is a NGCBInstruments in definitive form, Instrument in accordance with Condition 7.7 (Redemption at the option of the Holders (Investor Put on Change of Control)) the Issue and Paying Agent shall instruct notify EDP indicating the ICSDs to make appropriate entries principal amount of the Book Entry Instruments in their records to reflect respect of which the exercise Investor Put or Investor Put on Change of such option and otherwise shall comply with the provisions set out in the Fifth Schedule. 10.04 At the end of any applicable period for the exercise of such option orControl, as the case may be, not later than 7 days after the latest date for is exercised. The Issue and Paying Agent shall, on behalf of EDP, notify Interbolsa of the exercise of such optionthe relevant Investor Put or Investor Put on Change of Control, in relation to Registered Covered Bondsas the case may be, and shall request the Registrar shall promptly notify the Issuer, the Guarantor LP redemption and the Bond Trustee cancellation of the principal amount of relevant Book Entry Instruments. The Issue and Paying Agent shall, on the Covered Bonds in respect of which such option has been exercised together with their serial numbers and applicable Optional Redemption Date or, in the case of a Registered Global Covered Bond held under an Investor Put on Change of Control, Mandatory Redemption Date, make payment of the NSSredemption moneys in respect of the relevant Book Entry Instruments and interest (if any) accrued to such date in accordance with the relevant Terms and Conditions and pay such amounts in accordance with the directions of the holder contained in the Put Notice, or Put Option Notice, as applicable; provided, however, that if, prior to the applicable Optional Redemption Date or Mandatory Redemption Date, as applicable, the European Registrar Book Entry Instruments of the relevant holder become immediately due and payable or, on the applicable Optional Redemption Date or Mandatory Redemption Date, as applicable, payment of the redemption moneys is improperly withheld or refused, the Issue and Paying Agent shall instruct post notification thereof to the ICSDs to make appropriate entries in their records to reflect the exercise of depositing holder at such option and otherwise shall comply with the provisions set out address as may have been given by such holder in the Fifth Schedulerelevant Put Notice or Put Option Notice, as applicable and shall return to the depositing holder the relevant Put Notice or Put Option Notice, as applicable. 12.5 EDP shall procure that all Book Entry Instruments which are (a) redeemed or (b) purchased for cancellation by or on behalf of EDP or any of its Subsidiaries, will be forthwith cancelled by Interbolsa following receipt by Interbolsa of notice thereof and any Book Entry Instruments so redeemed or purchased and cancelled may not be reissued or resold.

Early Redemption and Exercise of Options. 10.01 If the Issuer intends (other than consequent upon an Issuer Event of Default) to redeem all or any of the Covered Bonds 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 the Issuer’s option required to be given to the Holders of any Covered Bonds, give written notice of such intention to the Bond Trustee and the Issuing and Paying Agent or, in the case of Registered Covered Bonds, the Registrar (copied to the Issuing and Paying Agent) stating the date on which such Covered Bonds are to be redeemed or such option is to be exercised. 10.02 In respect of any Covered Bonds to which Condition 6.07 applies or which carries any other right of redemption or other right exercisable at the option of the Holders of such Covered Bonds, the Issuer will provide the Paying Agents or, in the case of Registered Covered Bonds, the Registrar with copies of the form of the current redemption notice or exercise notice and the Paying Agents or, as the case may be, the Registrar will make available forms of the current redemption notice or exercise notice to Holders of Covered Bonds upon request during usual business hours at their respective specified offices. Upon receipt of any Covered Bond deposited in the exercise of such option, the Paying Agent or, in the case of Registered Covered Bonds, the Registrar with which such Covered Bond is deposited shall hold such Covered Bond (together with, in the case of a Definitive Covered Bond, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Covered Bond (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond 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 Covered Bond (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 Covered Bond 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 Covered Bonds, the Registrar, shall take such steps as may be required to be taken by it in the Conditions. 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 Covered Bond or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, as the case may be, the Registrar shall, without prejudice to the exercise of such option, mail such Covered Bond (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder of the relevant Covered Bond at such address as may have been given by such Holder in the relevant redemption notice. 10.03 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Bearer Covered Bonds each Paying Agent shall promptly notify the Issuing and Paying Agent of the principal amount of the Covered Bonds in respect of which such option has been exercised with it together with their serial numbers and the Issuing and Paying Agent shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of such details and, in the case of a Global Covered Bond that is a NGCB, shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule. 10.04 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Registered Covered Bonds, the Registrar shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of the principal amount of the Covered Bonds in respect of which such option has been exercised together with their serial numbers and in the case of a Registered Global Covered Bond held under the NSS, the European Registrar shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule.

Early Redemption and Exercise of Options. 10.01 If the Issuer intends (other than consequent upon an Issuer Event of Default) to redeem all or any of the Covered Bonds prior to their stated maturity date or to exercise any other option under the Conditions, it shall, not less than 14 10 days prior to the latest date for the publication of the notice of redemption or of exercise of the Issuer’s option required to be given to the Holders of any Covered Bonds, give written notice of such intention to the Bond Trustee and the Issuing and Paying Agent or, in the case of Registered Covered Bonds, the Registrar (copied to the Issuing and Paying Agent) stating the date on which such Covered Bonds are to be redeemed or such option is to be exercised. 10.02 In respect of any Covered Bonds to which Condition 6.07 applies or which carries any other right of redemption or other right exercisable at the option of the Holders of such Covered Bonds, the Issuer will provide the Paying Agents or, in the case of Registered Covered Bonds, the Registrar with copies of the form of the current redemption notice or exercise notice and the Paying Agents or, as the case may be, the Registrar will make available forms of the current redemption notice or exercise notice to Holders of Covered Bonds upon request during usual business hours at their respective specified offices. Upon receipt of any Covered Bond deposited in the exercise of such option, the Paying Agent or, in the case of Registered Covered Bonds, the Registrar with which such Covered Bond is deposited shall hold such Covered Bond (together with, in the case of a Definitive Covered Bond, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Covered Bond (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond 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 Covered Bond (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 Covered Bond 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 Covered Bonds, the Registrar, shall take such steps as may be required to be taken by it in the Conditions. 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 Covered Bond or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, as the case may be, the Registrar shall, without prejudice to the exercise of such option, mail such Covered Bond (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder of the relevant Covered Bond at such address as may have been given by such Holder in the relevant redemption notice.upon 10.03 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Bearer Covered Bonds each Paying Agent (other than the U.S. Paying Agent) shall promptly notify the Issuing and Paying Agent of the principal amount of the Covered Bonds in respect of which such option has been exercised with it together with their serial numbers and the Issuing and Paying Agent shall promptly notify such details to the Issuer, the Guarantor LP and the Bond Trustee of such details and, in the case of a Global Covered Bond that is a NGCB, shall instruct the ICSDs Clearing Systems to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule. 10.04 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Registered Covered Bonds, the Registrar shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of the principal amount of the Covered Bonds in respect of which such option has been exercised together with their serial numbers and numbers. 10.05 Notwithstanding the foregoing, in the case of a Registered Global event that the Issuer issues Covered Bond held Bonds under the NSSProgramme that are payable and/or dischargeable by the Issuer by payment or delivery of securities and/or other property or any combination of cash, securities and/or property, the European Registrar shall instruct procedures governing the ICSDs to make appropriate entries in their records to reflect the exercise early redemption of such option and otherwise Covered Bonds shall comply with the provisions be set out forth in the Fifth Scheduleapplicable Final Terms or Covered Bond.

Early Redemption and Exercise of Options. 10.01 If the Issuer intends (other than consequent upon an Issuer Event of Default) to redeem all or any of the Covered Bonds 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 the Issuer’s option required to be given to the Holders of any Covered Bonds, give written notice of such intention to the Bond Trustee and the Issuing and Paying Agent or, in the case of Registered Covered Bonds, the Registrar (copied to the Issuing and Paying Agent) stating the date on which such Covered Bonds are to be redeemed or such option is to be exercised. 10.02 In respect of any Covered Bonds to which Condition 6.07 applies or which carries any other right of redemption or other right exercisable at the option of the Holders of such Covered Bonds, the Issuer will provide the Paying Agents or, in the case of Registered Covered Bonds, the Registrar with copies of the form of the current redemption notice or exercise notice and the Paying Agents or, as the case may be, the Registrar will make available forms of the current redemption notice or exercise notice to Holders of Covered Bonds upon request during usual business hours at their respective specified offices. Upon receipt of any Covered Bond deposited in the exercise of such option, the Paying Agent or, in the case of Registered Covered Bonds, the Registrar with which such Covered Bond is deposited shall hold such Covered Bond (together with, in the case of a Definitive Covered Bond, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Covered Bond (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond 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 Covered Bond (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 Covered Bond 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 Covered Bonds, the Registrar, shall take such steps as may be required to be taken by it in the Conditions. 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 Covered Bond or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, as the case may be, the Registrar shall, without prejudice to the exercise of such option, mail such Covered Bond (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder of the relevant Covered Bond at such address as may have been given by such Holder in the relevant redemption notice. 10.03 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Bearer Covered Bonds each Paying Agent shall promptly notify the Issuing and Paying Agent of the principal amount of the Covered Bonds in respect of which such option has been exercised with it together with their serial numbers and the Issuing and Paying Agent shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of such details and, in the case of a Global Covered Bond that is a NGCB, shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule.reflect 10.04 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Registered Covered Bonds, the Registrar shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of the principal amount of the Covered Bonds in respect of which such option has been exercised together with their serial numbers and in the case of a Registered Global Covered Bond held under the NSS, the European Registrar shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule.

Early Redemption and Exercise of Options. 10.01 10.1 If the Issuer intends (other than consequent upon an Issuer Event of Default) to redeem all or any of the Covered Bonds Notes prior to their stated maturity date or to exercise any other option under the Terms and 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 the Issuer’s option required to be given to the Holders of any Covered BondsNotes, give written notice of such intention to the Bond Trustee and the Issuing and Paying Fiscal Agent or, in the case of Registered Covered BondsNotes, the Registrar (copied to the Issuing and Paying Fiscal Agent) stating the date on which such Covered Bonds Notes are to be redeemed or such option is to be exercised. 10.02 10.2 In respect of any Covered Bonds Notes to which Condition 6.07 6.6 applies or which carries any other right of redemption or other right exercisable at the option of the Holders of such Covered BondsNotes, the Issuer will provide the Paying Agents or, in the case of Registered Covered BondsNotes, the Registrar with copies of the form of the current redemption notice or exercise notice and the Paying Agents or, as the case may be, the Registrar and the Transfer Agents will make available forms of the current redemption notice or exercise notice to Holders of Covered Bonds Notes upon request during usual business hours at their respective specified offices. Upon receipt of any Covered Bond Note deposited in the exercise of such option, the Paying Agent or, in the case of Registered Covered BondsNotes, the Registrar or the Transfer Agent with which such Covered Bond Note is deposited shall hold such Covered Bond Note (together with, in the case of a Definitive Covered BondNote, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Covered Bond Note (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond 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 Covered Bond Note (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 Covered Bond 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 Covered BondsNotes, the RegistrarRegistrar or the relevant Transfer Agent, shall take such steps as may be required to be taken by it in the Terms and Conditions. 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 Covered Bond Note or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, as the case may be, the Registrar or the relevant Transfer Agent shall, without prejudice to the exercise of such option, mail such Covered Bond Note (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder of the relevant Covered Bond Note at such address as may have been given by such Holder in the relevant redemption notice. 10.03 10.3 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 seven days after the latest date for the exercise of such optionoption in relation to a particular date, in relation to Bearer Covered Bonds Notes each Paying Agent shall promptly notify the Issuing and Paying Fiscal Agent of the principal amount of the Covered Bonds Notes in respect of which such option has been exercised with it together with their serial numbers and the Issuing and Paying Fiscal Agent shall promptly notify such details to the Issuer, the Guarantor LP and the Bond Trustee of such details and, in the case of a Global Covered Bond that is a NGCB, shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule. 10.04 10.4 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 seven days after the latest date for the exercise of such optionoption in relation to a particular date, in relation to Registered Covered BondsNotes, the Registrar shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee Issuer of the principal amount of the Covered Bonds Notes in respect of which such option has been exercised together with their serial numbers and in the case of a Registered Global Covered Bond held under the NSS, the European Registrar shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedulenumbers.

Early Redemption and Exercise of Options. 10.01 If the Issuer intends (other than consequent upon an Issuer Event of Default) to redeem all or any of the Covered Bonds 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 the Issuer’s option required to be given to the Holders of any Covered Bonds, give written notice of such intention to the Bond Trustee and the Issuing and Paying Agent or, in the case of Registered Covered Bonds, the Registrar (copied to the Issuing and Paying Agent) stating the date on which such Covered Bonds are to be redeemed or such option is to be exercised. 10.02 In respect of any Covered Bonds to which Condition 6.07 applies or which carries any other right of redemption or other right exercisable at the option of the Holders of such Covered Bonds, the Issuer will provide the Paying Agents or, in the case of Registered Covered Bonds, the Registrar with copies of the form of the current redemption notice or exercise notice and the Paying Agents or, as the case may be, the Registrar will make available forms of the current redemption notice or exercise notice to Holders of Covered Bonds upon request during usual business hours at their respective specified offices. Upon receipt of any Covered Bond deposited in the exercise of such option, the Paying Agent or, in the case of Registered Covered Bonds, the Registrar with which such Covered Bond is deposited shall hold such Covered Bond (together with, in the case of a Definitive Covered Bond, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Covered Bond (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond 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 Covered Bond (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 Covered Bond 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 Covered Bonds, the Registrar, shall take such steps as may be required to be taken by it in the Conditions. 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 Covered Bond or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, as the case may be, the Registrar shall, without prejudice to the exercise of such option, mail such Covered Bond (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder of the relevant Covered Bond at such address as may have been given by such Holder in the relevant redemption notice. 10.03 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Bearer Covered Bonds each Paying Agent shall promptly notify the Issuing and Paying Agent of the principal amount of the Covered Bonds in respect of which such option has been exercised with it together with their serial numbers and the Issuing and Paying Agent shall promptly notify such details to the Issuer, the Guarantor LP and the Bond Trustee of such details and, in the case of a Global Covered Bond that is a NGCB, shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule. 10.04 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Registered Covered Bonds, the Registrar shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of the principal amount of the Covered Bonds in respect of which such option has been exercised together with their serial numbers and in the case of a Registered Global Covered Bond held under the NSS, the European Registrar shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule.

Early Redemption and Exercise of Options. 10.01 10.1 If the Issuer intends (other than consequent upon an Issuer Event of Default) to redeem all or any of the Covered Bonds Notes of a relevant Series 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 the Issuer’s 's option required to be given to the Holders of any Covered BondsNoteholders, give written notice of such intention to the Bond Trustee and the Issuing and Principal Paying Agent (with a copy to the Trustee) or, in the case of Registered Covered BondsNotes, the Registrar (copied to the Issuing Principal Paying Agent and Paying Agentthe Trustee) stating the date on which such Covered Bonds Notes are to be redeemed or such option is to be exercised. 10.02 10.2 In respect of any Covered Bonds Notes of a relevant Series to which Condition 6.07 8.5 (Redemption at the Noteholder's Option and Exercise of the Noteholder's Option) applies or which carries carry any other right of redemption or other right exercisable at the option of the Holders of such Covered BondsNoteholders, the Issuer will provide the Paying Agents or, in the case of Registered Covered BondsNotes, the Registrar and the Transfer Agents with copies of the form of the current redemption notice or exercise notice and the Paying Agents or, as the case may be, the Registrar and the Transfer Agents will make available forms of the current redemption notice or exercise notice to Holders of Covered Bonds Noteholders upon request during usual business hours at their respective specified offices. Upon receipt of any Covered Bond Note deposited in the exercise of such option, the Paying Agent or, in the case of Registered Covered BondsNotes, the Registrar and the Transfer Agents with which such Covered Bond Note is deposited shall hold such Covered Bond Note (together with, in the case of a Definitive Covered BondNote, any Receipts and/or Talons and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Covered Bond Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond 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 Covered Bond Note (and any such Receipts and/or Talons and/or Coupons) to itself for payment in accordance with the Conditions and shall pay such moneys monies in accordance with the directions of the Holder of the Covered Bond Noteholder 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 Covered BondsNotes, the RegistrarRegistrar or the relevant Transfer Agent, shall take such steps as may be required to be taken by it in the Conditions. 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 Covered Bond Note or if upon due presentation payment of such redemption moneys monies is improperly withheld or refused, the Paying Agent concerned or, as the case may be, the Registrar or the relevant Transfer Agent shall, without prejudice to the exercise of such option, mail such Covered Bond Note (together with any such Receipts and/or Talons and/or Coupons) by uninsured post to, and at the risk of, the Holder of the relevant Covered Bond Noteholder at such address as may have been given by such Holder Noteholder in the relevant redemption notice. For so long as any outstanding Definitive Note is held by a Paying Agent in accordance with the above, the depositor of the relevant Definitive Note, and not the relevant Paying Agent, shall be deemed to be the bearer of such Definitive Note for all purposes. While Notes are held in global form the Paying Agent shall be notified of the exercise of the put option contained in Condition 8.5 (Redemption at the Noteholder's Option and Exercise of the Noteholder's Option), within the period specified in the Conditions for the deposit of the relevant Note, in accordance with the applicable rules and regulations of Euroclear, Clearstream, Luxembourg and/or any other relevant clearing system as the case may be. Any Paying Agent so notified shall make payment of the relevant redemption moneys and interest accrued to the Noteholder's Redemption Option Date in accordance with the Conditions, Clause 7 (Payments to Holders of Bearer Notes) or Clause 8 (Payments to Holders of Registered Notes) (as applicable) and the terms of the Permanent Global Note or Global Note Certificate. 10.03 10.3 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such optionoption in relation to a particular date, in relation to Bearer Covered Bonds Notes each Paying Agent shall promptly notify the Issuing and Principal Paying Agent of the principal amount Principal Amount of the Covered Bonds Notes of a relevant Series in respect of which such option has been exercised with it together with their serial numbers and the Issuing and Principal Paying Agent shall promptly notify such details to the Issuer, the Guarantor LP and the Bond Trustee of such details and, in the case of a Global Covered Bond that is a NGCB, shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule. 10.04 10.4 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such optionoption in relation to a particular date, in relation to Registered Covered BondsNotes of a relevant Series, the Registrar each Transfer Agent shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee Registrar of the principal amount Principal Amount of the Covered Bonds Registered Notes in respect of which such option has been exercised together with their serial numbers and in the case of a Registered Global Covered Bond held under the NSS, the European Registrar shall instruct promptly notify such details to the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth ScheduleIssuer.

Early Redemption and Exercise of Options. 10.01 9.01 If the Issuer intends (other than consequent upon an Issuer Event of Default) to redeem all or any of the Covered Bonds 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 the Issuer’s option required to be given to the Holders of any Covered Bonds, give written notice of such intention to the Bond Trustee and the Issuing and Paying Agent or, in the case of Registered Covered Bonds, the Registrar (copied to the Issuing and Paying Agent) stating the date on which such Covered Bonds are to be redeemed or such option is to be exercised. 10.02 9.02 In respect of any Covered Bonds to which Condition 6.07 applies or which carries any other right of redemption or other right exercisable at the option of the Holders of such Covered Bonds, the Issuer will provide the Paying Agents or, in the case of Registered Covered Bonds, the Registrar with copies of the form of the current redemption notice or exercise notice and the Paying Agents or, as the case may be, the Registrar will make available forms of the current redemption notice or exercise notice to Holders of Covered Bonds upon request during usual business hours at their respective specified offices. Upon receipt of any Covered Bond deposited in the exercise of such option, the Paying Agent or, in the case of Registered Covered Bonds, the Registrar with which such Covered Bond is deposited shall hold such Covered Bond (together with, in the case of a Definitive Covered Bond, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Covered Bond (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond 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 Covered Bond (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 Covered Bond 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 Covered Bonds, the Registrar, shall take such steps as may be required to be taken by it in the Conditions. 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 Covered Bond or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, as the case may be, the Registrar shall, without prejudice to the exercise of such option, mail such Covered Bond (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder of the relevant Covered Bond at such address as may have been given by such Holder in the relevant redemption notice.the 10.03 9.03 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Bearer Covered Bonds each Paying Agent shall promptly notify the Issuing and Paying Agent of the principal amount of the Covered Bonds in respect of which such option has been exercised with it together with their serial numbers and the Issuing and Paying Agent shall promptly notify such details to the Issuer, the Guarantor LP and the Bond Trustee of such details and, in the case of a Global Covered Bond that is a NGCB, shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule. 10.04 9.04 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Registered Covered Bonds, the Registrar shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of the principal amount of the Covered Bonds in respect of which such option has been exercised together with their serial numbers and numbers. 9.05 Notwithstanding the foregoing, in the case of a Registered Global event that the Issuer issues Covered Bond held Bonds under the NSSProgramme that are payable and/or dischargeable by the Issuer by payment or delivery of securities and/or other property or any combination of cash, securities and/or property, the European Registrar shall instruct procedures governing the ICSDs to make appropriate entries in their records to reflect the exercise early redemption of such option and otherwise Covered Bonds shall comply with the provisions be set out forth in the Fifth Scheduleapplicable Final Terms or Covered Bond.

Early Redemption and Exercise of Options. 10.01 ‌ 10.1 If the Issuer intends (other than consequent upon an Issuer Event of DefaultDefault or a Mandatory Redemption Event) to redeem all or any of the Covered Bonds Notes of a relevant Series 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 the Issuer’s 's option required to be given to the Holders of any Covered BondsNotes, give written notice of such intention to the Bond Trustee and the Issuing and Principal Paying Agent orwith a copy to the Trustee and, in the case of Registered Covered Bonds, Notes the Registrar (copied to the Issuing and Paying Agent) stating the date on which such Covered Bonds Notes are to be redeemed or such option is to be exercised. 10.02 10.2 In respect of any Covered Bonds Notes of a relevant Series to which Condition 6.07 7(g) or Condition 7(k) applies or which carries carry any other right of redemption or other right exercisable at the option of the Holders Noteholders of such Covered BondsNotes, the Issuer will provide the Paying Agents or, in the case of Registered Covered Bonds, Notes the Registrar with copies of the form of the current redemption notice or exercise notice and the Paying Agents or, as in the case may be, of Registered Notes the Registrar will make available forms of the current redemption notice or exercise notice to Holders Noteholders of Covered Bonds Notes upon request during usual business hours at their respective specified offices. Upon receipt of any Covered Bond Note deposited in the exercise of such option, the Paying Agent or, in the case of Registered Covered Bonds, the Registrar with which such Covered Bond is deposited shall hold such Covered Bond Note (together with, in the case of a Definitive Covered BondNote, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder Noteholder of such Covered Bond Note (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond 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 Covered Bond Note (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 Noteholder of the Covered Bond Note contained in the relevant redemption notice. In the case of an exercise of any other option, the relevant Paying Agent or, or in the case of Registered Covered Bonds, Notes the Registrar, Registrar shall take such steps as may be required to be taken by it in by the Conditions. 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 Covered Bond Note or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, as in the case may be, of Registered Notes the Registrar shall, without prejudice to the exercise of such option, mail such Covered Bond Note (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder Noteholder of the relevant Covered Bond Note at such address as may have been given by such Holder Noteholder in the relevant redemption notice. 10.03 10.3 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such optionoption in relation to a particular date, in relation to Bearer Covered Bonds the Notes each Paying Agent shall promptly notify the Issuing and Principal Paying Agent of the principal amount of the Covered Bonds Notes of a relevant Series in respect of which such option has been exercised with it together with their serial numbers numbers, together with the Registered Note Certificates in respect of Registered Notes as the case may be, and the Issuing and Principal Paying Agent shall promptly notify such details to the Issuer, the Guarantor LP and the Bond Trustee of such details and, in the case of a Global Covered Bond that is a NGCB, shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule. 10.04 10.4 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such optionoption in relation to a particular date, in relation to Registered Covered BondsNotes of a relevant Series, the Registrar shall promptly notify the Issuer, Issuer with a copy to the Guarantor LP and the Bond Trustee Principal Paying Agent of the principal amount Principal Amount of the Covered Bonds Registered Notes in respect of which such option has been exercised together with their serial numbers and in the case of a Registered Global Covered Bond held under the NSS, the European Registrar shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply together with the provisions set out Registered Note Certificates in the Fifth Schedulerespect thereof.

Early Redemption and Exercise of Options. 10.01 If the Issuer intends (other than consequent upon an Issuer Event of Default) to redeem all or any of the Covered Bonds 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 the Issuer’s option required to be given to the Holders of any Covered Bonds, give written notice of such intention to the Bond Trustee and the Issuing and Paying Agent or, in the case of Registered Covered Bonds, the Registrar (copied to the Issuing and Paying Agent) stating the date on which such Covered Bonds are to be redeemed or such option is to be exercised.of 10.02 In respect of any Covered Bonds to which Condition 6.07 applies or which carries any other right of redemption or other right exercisable at the option of the Holders of such Covered Bonds, the Issuer will provide the Paying Agents or, in the case of Registered Covered Bonds, the Registrar with copies of the form of the current redemption notice or exercise notice and the Paying Agents or, as the case may be, the Registrar will make available forms of the current redemption notice or exercise notice to Holders of Covered Bonds upon request during usual business hours at their respective specified offices. Upon receipt of any Covered Bond deposited in the exercise of such option, the Paying Agent or, in the case of Registered Covered Bonds, the Registrar with which such Covered Bond is deposited shall hold such Covered Bond (together with, in the case of a Definitive Covered Bond, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Covered Bond (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond 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 Covered Bond (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 Covered Bond 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 Covered Bonds, the Registrar, shall take such steps as may be required to be taken by it in the Conditions. 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 Covered Bond or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, as the case may be, the Registrar shall, without prejudice to the exercise of such option, mail such Covered Bond (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder of the relevant Covered Bond at such address as may have been given by such Holder in the relevant redemption notice. 10.03 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Bearer Covered Bonds each Paying Agent shall promptly notify the Issuing and Paying Agent of the principal amount of the Covered Bonds in respect of which such option has been exercised with it together with their serial numbers and the Issuing and Paying Agent shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of such details and, in the case of a Global Covered Bond that is a NGCB, shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule.reflect 10.04 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Registered Covered Bonds, the Registrar shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of the principal amount of the Covered Bonds in respect of which such option has been exercised together with their serial numbers and in the case of a Registered Global Covered Bond held under the NSS, the European Registrar shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule.

Early Redemption and Exercise of Options. 10.01 If the Issuer intends (other than consequent upon an Issuer Event of Default) to redeem all or any of the Covered Bonds prior to their stated maturity date or to exercise any other option under the Conditions, it shall, not less than 14 10 days prior to the latest date for the publication of the notice of redemption or of exercise of the Issuer’s option required to be given to the Holders of any Covered Bonds, give written notice of such intention to the Bond Trustee and the Issuing and Paying Agent or, in the case of Registered Covered Bonds, the Registrar (copied to the Issuing and Paying Agent) stating the date on which such Covered Bonds are to be redeemed or such option is to be exercised. 10.02 In respect of any Covered Bonds to which Condition 6.07 applies or which carries any other right of redemption or other right exercisable at the option of the Holders of such Covered Bonds, the Issuer will provide the Paying Agents or, in the case of Registered Covered Bonds, the Registrar with copies of the form of the current redemption notice or exercise notice and the Paying Agents or, as the case may be, the Registrar will make available forms of the current redemption notice or exercise notice to Holders of Covered Bonds upon request during usual business hours at their respective specified offices. Upon receipt of any Covered Bond deposited in the exercise of such option, the Paying Agent or, in the case of Registered Covered Bonds, the Registrar with which such Covered Bond is deposited shall hold such Covered Bond (together with, in the case of a Definitive Covered Bond, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Covered Bond (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond 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 Covered Bond (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 Covered Bond 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 Covered Bonds, the Registrar, shall take such steps as may be required to be taken by it in the Conditions. 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 Covered Bond or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, as the case may be, the Registrar shall, without prejudice to the exercise of such option, mail such Covered Bond (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder of the relevant Covered Bond at such address as may have been given by such Holder in the relevant redemption notice. 10.03 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Bearer Covered Bonds each Paying Agent shall promptly notify the Issuing and Paying Agent of the principal amount of the Covered Bonds in respect of which such option has been exercised with it together with their serial numbers and the Issuing and Paying Agent shall promptly notify such details to the Issuer, the Guarantor LP and the Bond Trustee of such details and, in the case of a Global Covered Bond that is a NGCB, shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule. 10.04 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Registered Covered Bonds, the Registrar shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of the principal amount of the Covered Bonds in respect of which such option has been exercised together with their serial numbers numbers, and in the case of a Registered Global Covered Bond Bonds held under the NSS, the European Registrar shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule. 10.05 Notwithstanding the foregoing, in the event that the Issuer issues Covered Bonds under the Programme that are payable and/or dischargeable by the Issuer by payment or delivery of securities and/or other property or any combination of cash, securities and/or property, the procedures governing the early redemption of such Covered Bonds shall be set forth in the applicable Final Terms or Covered Bond.

Early Redemption and Exercise of Options. 10.01 9.1 If the relevant Issuer intends (other than consequent upon an Issuer Event of DefaultDefault or Restricted Default Event) to redeem all or any of the Covered Bonds Instruments prior to their stated maturity date or to exercise any other option under the Terms and 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 the relevant Issuer’s 's option required to be given to the Holders of any Covered BondsInstruments, give written notice of such intention to the Bond Trustee and the Issuing Issue and Paying Agent or, in the case of Registered Covered Bonds, the Registrar (copied to the Issuing and Paying Agent) stating the date on which such Covered Bonds Instruments are to be redeemed or such option is to be exercised. 10.02 9.2 In respect of any Covered Bonds Instruments to which Condition 6.07 7.8 applies or which carries any other right of redemption or other right exercisable at the option of the Holders of such Covered BondsInstruments, the relevant Issuer will provide the Paying Agents or, in the case of Registered Covered Bonds, the Registrar with copies of the form of the current redemption notice or exercise notice and the Paying Agents or, as the case may be, the Registrar will make available forms of the current redemption notice or exercise notice to Holders of Covered Bonds Instruments and the Bank Holders’ Agent (in the case of Bank Instruments) upon request during usual business hours at their respective specified offices. Upon receipt of any Covered Bond Instrument deposited in the exercise of such option, the Paying Agent or, in the case of Registered Covered Bonds, the Registrar with which such Covered Bond Instrument is deposited shall hold such Covered Bond Instrument (together with, in the case of a Definitive Covered BondInstrument, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Covered Bond Instrument (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond Instrument 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 Covered Bond Instrument (and any such Receipts and/or Coupons) to itself for payment in accordance with the Terms and Conditions and shall pay such moneys in accordance with the directions of the Holder of the Covered Bond Instrument 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 Covered Bonds, the Registrar, shall take such steps as may be required to be taken by it in the Terms and Conditions. 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 or Restricted Event of Default occurs in respect of such Covered Bond Instrument or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, as the case may be, the Registrar shall, without prejudice to the exercise of such option, mail such Covered Bond Instrument (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder of the relevant Covered Bond Instrument at such address as may have been given by such Holder in the relevant redemption notice. 10.03 9.3 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, option in relation to Bearer Covered Bonds a particular date, each Paying Agent shall promptly notify the Issuing Issue and Paying Agent of the principal amount of the Covered Bonds Instruments in respect of which such option has been exercised with it together with their serial numbers and the Issuing Issue and Paying Agent shall promptly notify such details to the Issuerrelevant Issuer and, if applicable, the Guarantor LP and the Bond Trustee of such details and, in the case of a Global Covered Bond that is a NGCB, shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth ScheduleGuarantor. 10.04 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Registered Covered Bonds, the Registrar shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of the principal amount of the Covered Bonds in respect of which such option has been exercised together with their serial numbers and in the case of a Registered Global Covered Bond held under the NSS, the European Registrar shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule.

Early Redemption and Exercise of Options. 10.01 11.1 If the Issuer intends (other than consequent upon an Issuer Event of Default) to redeem all or any of the Covered Bonds Instruments prior to their stated maturity date or to exercise any other option under the Terms and 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 the Issuer’s 's option required to be given to the Holders of any Covered BondsInstruments, give written notice of such intention to the Bond Trustee and the Issuing Issue and Paying Agent or, in the case of Registered Covered BondsInstruments, the Registrar (copied to the Issuing Issue and Paying Agent) stating the date on which such Covered Bonds Instruments are to be redeemed or such option is to be exercised. 10.02 11.2 In respect of any Covered Bonds Instruments to which Condition 6.07 6.06 (Optional Early Redemption (Put)) applies or which carries carry any other right of redemption or other right exercisable at the option of the Holders of such Covered BondsInstruments, the Issuer will provide the Paying Agents or, in the case of Registered Covered BondsInstruments, the Registrar with copies of the form of the current redemption notice or exercise notice and the Paying Agents or, as the case may be, the Registrar will make available forms of the current redemption notice or exercise notice to Holders of Covered Bonds Instruments upon request during usual business hours at their respective specified offices. Upon receipt of any Covered Bond Bearer Instrument deposited in the exercise of such option, the Paying Agent with which such Bearer Instrument is deposited, or, in the case of Registered Covered BondsInstruments, upon receipt of any registered instrument together with a duly completed early redemption notice, the Registrar with which such Covered Bond Registered Instrument is deposited deposited, shall hold such Covered Bond Instrument (together with, in the case of a Definitive Covered BondInstrument, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Covered Bond Instrument (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond Instrument 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 Covered Bond Instrument (and any such Receipts and/or Coupons) to itself the Paying Agents for payment in accordance with the Conditions and shall pay such moneys in accordance with the directions of the Holder of the Covered Bond Instrument 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 Covered BondsInstruments, the Registrar, shall take such steps as may be required to be taken by it in the Terms and Conditions. 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 Covered Bond Instrument or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, as the case may be, the Registrar shall, without prejudice to the exercise of such option, mail such Covered Bond Instrument (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder of the relevant Covered Bond Instrument at such address as may have been given by such Holder in the relevant redemption notice. 10.03 11.3 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 seven days after the latest date for the exercise of such optionoption in relation to a particular date, in relation to Bearer Covered Bonds Instruments each Paying Agent shall promptly notify the Issuing Issue and Paying Agent of the principal amount of the Covered Bonds Instruments in respect of which such option has been exercised with it together with their serial numbers and the Issuing Issue and Paying Agent shall promptly notify such details to the Issuer, the Guarantor LP Issuer and the Bond Trustee of such details and, in the case of a Global Covered Bond that is a NGCB, shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth ScheduleGuarantor. 10.04 11.4 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 seven days after the latest date for the exercise of such optionoption in relation to a particular date, in relation to Registered Covered BondsInstruments, the Registrar shall promptly notify the Issuer, Issuer and the Guarantor LP and the Bond Trustee of the principal amount of the Covered Bonds Instruments in respect of which such option has been exercised together with their serial numbers and in the case of a Registered Global Covered Bond held under the NSS, the European Registrar shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedulenumbers.

Early Redemption and Exercise of Options. 10.01 9.1 If the relevant Issuer intends (other than consequent upon an Issuer Event of DefaultDefault or Restricted Default Event) to redeem all or any of the Covered Bonds Instruments prior to their stated maturity date or to exercise any other option under the Terms and 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 the relevant Issuer’s 's option required to be given to the Holders of any Covered BondsInstruments, give written notice of such intention to the Bond Trustee and the Issuing Issue and Paying Agent or, in the case of Registered Covered Bonds, the Registrar (copied to the Issuing and Paying Agent) stating the date on which such Covered Bonds Instruments are to be redeemed or such option is to be exercised. 10.02 9.2 In respect of any Covered Bonds Instruments issued by Eurobank S.A. to which Condition 6.07 5.8 applies or which carries any other right of redemption or other right exercisable at the option of the Holders of such Covered BondsInstruments, the relevant Issuer will provide the Paying Agents or, in the case of Registered Covered Bonds, the Registrar with copies of the form of the current redemption notice or exercise notice and the Paying Agents or, as the case may be, the Registrar will make available forms of the current redemption notice or exercise notice to Holders of Covered Bonds Instruments and the Holders’ Agent (if any) upon request during usual business hours at their respective specified offices. Upon receipt of any Covered Bond Instrument deposited in the exercise of such option, the Paying Agent or, in the case of Registered Covered Bonds, the Registrar with which such Covered Bond Instrument is deposited shall hold such Covered Bond Instrument (together with, in the case of a Definitive Covered BondInstrument, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Covered Bond Instrument (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond Instrument 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 Covered Bond Instrument (and any such Receipts and/or Coupons) to itself for payment in accordance with the Terms and Conditions and shall pay such moneys in accordance with the directions of the Holder of the Covered Bond Instrument 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 Covered Bonds, the Registrar, shall take such steps as may be required to be taken by it in the Terms and Conditions. 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 or Restricted Event of Default occurs in respect of such Covered Bond Instrument or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, as the case may be, the Registrar shall, without prejudice to the exercise of such option, mail such Covered Bond Instrument (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder of the relevant Covered Bond Instrument at such address as may have been given by such Holder in the relevant redemption notice. 10.03 9.3 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, option in relation to Bearer Covered Bonds a particular date, each Paying Agent shall promptly notify the Issuing Issue and Paying Agent of the principal amount of the Covered Bonds Instruments in respect of which such option has been exercised with it together with their serial numbers and the Issuing Issue and Paying Agent shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of such details and, in to the case of a Global Covered Bond that is a NGCB, shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedulerelevant Issuer. 10.04 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Registered Covered Bonds, the Registrar shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of the principal amount of the Covered Bonds in respect of which such option has been exercised together with their serial numbers and in the case of a Registered Global Covered Bond held under the NSS, the European Registrar shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule.

Early Redemption and Exercise of Options. 10.01 9.01 If the Issuer intends (other than consequent upon an Issuer Event of Default) to redeem all or any of the Covered Bonds Instruments prior to their stated maturity date or to exercise any other option under the Terms and 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 the Issuer’s 's option required to be given to the Holders of any Covered BondsInstruments, give written notice of such intention to the Bond Trustee and the Issuing Issue and Paying Agent or, in the case of Registered Covered Bonds, the Registrar (copied to the Issuing and Paying Agent) stating the date on which such Covered Bonds Instruments are to be redeemed or such option is to be exercised. 10.02 9.02 In respect of any Covered Bonds to Instruments which Condition 6.07 applies or which carries carry any other right of redemption or other right exercisable at the option of the Holders of such Covered BondsInstruments, the Issuer will provide the Paying Agents or, in the case of Registered Covered Bonds, the Registrar with copies of the form of the current redemption notice or exercise notice and the Paying Agents or, as the case may be, the Registrar will make available forms of the current redemption notice or exercise notice to Holders of Covered Bonds Instruments upon request during usual business hours at their respective specified offices. Upon receipt of any Covered Bond Instrument deposited in the exercise of such option, the Paying Agent or, in the case of Registered Covered Bonds, the Registrar with which such Covered Bond Instrument is deposited shall hold such Covered Bond Instrument (together with, in the case of a Definitive Covered BondInstrument, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Covered Bond Instrument (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond Instrument 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 Covered Bond Instrument (and any such Receipts and/or Coupons) to itself for payment in accordance with the Terms and Conditions and shall pay such moneys in accordance with the directions of the Holder of the Covered Bond Instrument 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 Covered Bonds, the Registrar, shall take such steps as may be required to be taken by it in the Terms and Conditions. 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 Covered Bond Instrument or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, as the case may be, the Registrar shall, without prejudice to the exercise of such option, mail such Covered Bond Instrument (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder of the relevant Covered Bond Instrument at such address as may have been given by such Holder in the relevant redemption notice. 10.03 9.03 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, option in relation to Bearer Covered Bonds a particular date, each Paying Agent shall promptly notify the Issuing Issue and Paying Agent of the principal amount of the Covered Bonds Instruments in respect of which such option has been exercised with it together with their serial numbers and the Issuing Issue and Paying Agent shall promptly notify such details to the Issuer, the Guarantor LP and the Bond Trustee of such details and, in the case of a Global Covered Bond that is a NGCB, shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule. 10.04 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Registered Covered Bonds, the Registrar shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of the principal amount of the Covered Bonds in respect of which such option has been exercised together with their serial numbers and in the case of a Registered Global Covered Bond held under the NSS, the European Registrar shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule.

Early Redemption and Exercise of Options. 10.01 ‌ 8.01 If the Issuer intends (other than consequent upon an Issuer Event of Default) to redeem all or any of the Covered Bonds prior to their stated maturity date or to exercise any other option under the Conditions, it shall, not less than 14 10 days prior to the latest date for the publication of the notice of redemption or of exercise of the Issuer’s option required to be given to the Holders of any Covered Bonds, give written notice of such intention to the Bond Trustee and the Issuing and Paying Agent or, in the case of Registered Covered Bonds, the Registrar (copied to the Issuing and Paying Agent) stating the date on which such Covered Bonds are to be redeemed or such option is to be exercised. 10.02 8.02 In respect of any Covered Bonds to which Condition 6.07 applies or which carries any other right of redemption or other right exercisable at the option of the Holders of such Covered Bonds, the Issuer will provide the Paying Agents Agent or, in as the case of Registered Covered Bondsmay be, the Registrar with copies of the form of the current redemption notice or exercise notice and the Paying Agents or, as the case may be, the Registrar will make available forms of the current redemption notice or exercise notice to Holders of Covered Bonds upon request during usual business hours (being between 9:00 a.m to 3:00 p.m) at their respective specified offices. Upon receipt of any Covered Bond deposited in the exercise of such option, the Paying Agent or, in as the case of Registered Covered Bondsmay be, the Registrar with which such Covered Bond is deposited shall hold such Covered Bond (together with, in the case of a Definitive Covered Bond, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Covered Bond (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond 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 Covered Bond (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 Covered Bond contained in the relevant redemption notice. In the case of an exercise of any other option, the relevant Paying Agent or, in as the case of Registered Covered Bondsmay be, the Registrar, shall take such steps as may be required to be taken by it in the Conditions. 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 Covered Bond or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, as the case may be, the Registrar shall, without prejudice to the exercise of such option, mail such Covered Bond (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder of the relevant Covered Bond at such address as may have been given by such Holder in the relevant redemption notice. 10.03 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Bearer Covered Bonds each Paying Agent shall promptly notify the Issuing and Paying Agent of the principal amount of the Covered Bonds in respect of which such option has been exercised with it together with their serial numbers and the Issuing and Paying Agent shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of such details and, in the case of a Global Covered Bond that is a NGCB, shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule. 10.04 8.03 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Registered Covered Bonds, the Registrar shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of the principal amount of the Covered Bonds in respect of which such option has been exercised together with their serial numbers numbers, and in the case of a Registered Global Covered Bond Bonds held under the NSS, the European Registrar shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule.

Early Redemption and Exercise of Options. 10.01 12.1 If the Issuer intends (other than consequent upon an Issuer Event of Default) to redeem all or any of the Covered Bonds Instruments (other than Book Entry Instruments) prior to their stated maturity date or to exercise any other option under the Terms and 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 the Issuer’s 's option required to be given to the Holders of any Covered BondsInstruments, give written notice of such intention to the Bond Trustee and the Issuing Issue and Paying Agent and the Trustee or, in the case of Registered Covered BondsInstruments, to the Registrar (copied to the Issuing Issue and Paying Agent) and the Trustee stating the date on which such Covered Bonds Instruments are to be redeemed or such option is to be exercised. For the avoidance of doubt if the Issuer 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. EDP shall comply with the applicable Portuguese laws, regulations and procedures and with procedures set forth in this Agreement in respect of the early redemption and the exercise of options in relation to Book Entry Instruments. 10.02 12.2 In respect of any Covered Bonds Instruments to which Condition 6.07 Investor Put or Investor Put on Change of Control applies or which carries any other right of redemption or other right exercisable at the option of the Holders of such Covered BondsInstruments, the Issuer will provide the Paying Agents or, in the case of Registered Covered BondsInstruments, the Registrar with copies of the form of the current redemption put notice or exercise notice and the Paying Agents or, as the case may be, the Registrar will make available forms of the current redemption put notice or exercise notice to Holders of Covered Bonds Instruments upon request during usual normal business hours at their respective specified offices. Upon receipt of any Covered Bond Instrument, or in the case of Book Entry Instruments, any Certificate deposited in the exercise of such option, the Paying Agent or, in the case of Registered Covered BondsInstruments, the Registrar with which such Covered Bond Instrument or Certificate (as the case may be) is deposited shall hold such Covered Bond Instrument or Certificate (together with, in the case of a Definitive Covered BondBearer Instrument, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Covered Bond Instrument or Certificate (in the case of Book Entry Instruments) (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond Instrument 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 Covered Bond Instrument 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 Covered Bond Instrument 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 Covered BondsInstruments, the Registrar, Registrar shall take such steps as may be required to be taken by it in the Terms and Conditions. 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 Covered Bond Instrument or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, as the case may be, the Registrar shall, without prejudice to the exercise of such option, mail such Covered Bond Instrument or Certificate (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder of the relevant Covered Bond Instrument at such address as may have been given by such Holder in the relevant redemption notice. 10.03 At 12.3 If EDP intends (other than consequent upon an Event of Default) to redeem all or any of the end of Book Entry Instruments prior to their stated maturity date or to exercise any applicable period other option under the Terms and Conditions, it shall, not less than five Lisbon Business Days prior to the latest date for the publication of the notice of redemption or of exercise of such option required to be given to the Instrumentholders, give notice of such intention to the Portuguese Paying Agent stating the date on which such Book Entry Instruments are to be redeemed or such option is to be exercised. 12.4 The Issue and Paying Agent shall make available to Holders, during the applicable period specified in Condition 7.6 (Redemption at the option of the Holders (Investor Put)) and/or Condition 7.7 (Redemption at the option of the Holders (Investor Put on Change of Control)) for the deposit of the relevant Put Notices, or Put Option Notices, as the case may be, forms of Put Notices or Put Option Notices, as the case may be, upon request during usual business hours at its specified office. Upon receipt by the Issue and Paying Agent of a duly completed Put Notice and, in the case of Instruments in definitive form, the Instrument, in accordance with Condition 7.6 (Redemption at the option of the Holders (Investor Put)) or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Bearer Covered Bonds each Paying Agent shall promptly notify the Issuing and Paying Agent of the principal amount of the Covered Bonds in respect of which such option has been exercised with it together with their serial numbers and the Issuing and Paying Agent shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of such details a duly completed Put Option Notice and, in the case of a Global Covered Bond that is a NGCBInstruments in definitive form, Instrument in accordance with Condition 7.7 (Redemption at the option of the Holders (Investor Put on Change of Control)) the Issue and Paying Agent shall instruct notify EDP indicating the ICSDs to make appropriate entries principal amount of the Book Entry Instruments in their records to reflect respect of which the exercise Investor Put or Investor Put on Change of such option and otherwise shall comply with the provisions set out in the Fifth Schedule. 10.04 At the end of any applicable period for the exercise of such option orControl, as the case may be, not later than 7 days after the latest date for is exercised. The Issue and Paying Agent shall, on behalf of EDP, notify Interbolsa of the exercise of such optionthe relevant Investor Put or Investor Put on Change of Control, in relation to Registered Covered Bondsas the case may be, and shall request the Registrar shall promptly notify the Issuer, the Guarantor LP redemption and the Bond Trustee cancellation of the principal amount of relevant Book Entry Instruments. The Issue and Paying Agent shall, on the Covered Bonds in respect of which such option has been exercised together with their serial numbers and applicable Optional Redemption Date or, in the case of a Registered Global Covered Bond held under an Investor Put on Change of Control, Mandatory Redemption Date, make payment of the NSSredemption moneys in respect of the relevant Book Entry Instruments and interest (if any) accrued to such date in accordance with the Terms and Conditions and pay such amounts in accordance with the directions of the holder contained in the Put Notice, or Put Option Notice, as applicable; provided, however, that if, prior to the applicable Optional Redemption Date or Mandatory Redemption Date, as applicable, the European Registrar Book Entry Instruments of the relevant holder become immediately due and payable or, on the applicable Optional Redemption Date or Mandatory Redemption Date, as applicable, payment of the redemption moneys is improperly withheld or refused, the Issue and Paying Agent shall instruct post notification thereof to the ICSDs to make appropriate entries in their records to reflect the exercise of depositing holder at such option and otherwise shall comply with the provisions set out address as may have been given by such holder in the Fifth Schedulerelevant Put Notice or Put Option Notice, as applicable and shall return to the depositing holder the relevant Put Notice or Put Option Notice, as applicable. 12.5 EDP shall procure that all Book Entry Instruments which are (a) redeemed or (b) purchased for cancellation by or on behalf of EDP or any of its Subsidiaries, will be forthwith cancelled by Interbolsa following receipt by Interbolsa of notice thereof and any Book Entry Instruments so redeemed or purchased and cancelled may not be reissued or resold.

Early Redemption and Exercise of Options. 10.01 11.1 If the Issuer intends (other than consequent upon an Issuer Event of DefaultDefault or any right of the Noteholder to require redemption) to redeem all or any of the Covered Bonds Notes of any Series 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 the Issuer’s 's option required to be given to the Holders holders of any Covered BondsNotes, give written notice of such intention to the Bond Trustee and the Issuing and Principal Paying Agent or, in the case of Registered Covered BondsNotes, the Registrar (copied to the Issuing and Principal Paying Agent) ), and in either case, to the Trustee, stating the date on which such Covered Bonds Notes are to be redeemed or such option is to be exercised. 10.02 11.2 In respect of any Covered Bonds Notes to which Condition 6.07 6.7 applies or which carries carry any other right of redemption or other right exercisable at the option of the Holders Noteholders of such Covered BondsNotes, the Issuer will provide the Paying Agents or, in the case of Registered Covered BondsNotes, the Registrar with copies of the form of the current redemption notice or exercise notice and the Paying Agents or, as the case may be, the Registrar and the Transfer Agents will make available forms of the current redemption notice or exercise notice to Holders of Covered Bonds Noteholders upon request during usual business hours at their respective specified offices. Upon receipt of any Covered Bond Note or Certificate deposited in the exercise of such option, the relevant Paying Agent or, in the case of Registered Covered BondsNotes, the Registrar or the Transfer Agent with which such Covered Bond Note or Certificate is deposited shall hold such Covered Bond Note or Certificate (together with, in the case of a Definitive Covered BondNote, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder Noteholder of such Covered Bond Note or Certificate (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond Note or Certificate 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 Covered Bond 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 Noteholder of the Covered Bond 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 Covered BondsNotes, the RegistrarRegistrar or the relevant Transfer Agent, shall take such steps as may be required to be taken by it in the Conditions. 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 Covered Bond Note or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the relevant Paying Agent concerned or, as the case may be, the Registrar or the relevant Transfer Agent shall, without prejudice to the exercise of such option, mail such Covered Bond Note (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder Noteholder of the relevant Covered Bond Note at such address as may have been given by such Holder Noteholder in the relevant redemption notice. 10.03 11.3 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such optionoption in relation to a particular date, in relation to Bearer Covered Bonds Notes each Paying Agent shall promptly notify the Issuing and Principal Paying Agent of the principal amount of the Covered Bonds Notes in respect of which such option has been exercised with it together with their serial numbers and the Issuing and Principal Paying Agent shall promptly notify such details to the Issuer, the Guarantor LP Issuer and the Bond Trustee of such details and, in the case of a Global Covered Bond that is a NGCB, shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth ScheduleTrustee. 10.04 11.4 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such optionoption in relation to a particular date, in relation to Registered Covered BondsNotes, the Registrar shall promptly notify the Issuer, the Guarantor LP Issuer and the Bond Trustee of the principal amount of the Covered Bonds Notes in respect of which such option has been exercised together with their the serial numbers and in of the case Certificates representing such Notes. 11.5 If some only of the Notes of a Registered Global Covered Bond held under the NSSSeries are to be redeemed, the European Registrar shall instruct the ICSDs or subject to make appropriate entries in their records to reflect the exercise of an Issuer's option, on such option and otherwise date the Principal Paying Agent shall comply making the drawing that is required in accordance with the provisions Conditions and the Issuer and the Trustee shall be entitled to send representatives to attend such drawing. 11.6 Each Paying Agent will keep a stock of put notices in the form set out in Schedule 4 (Form of Put Notice) and will make such notices available on demand to Noteholders of Notes, the Fifth ScheduleConditions of which provide for redemption at the option of Noteholders.

Early Redemption and Exercise of Options. 10.01 9.1 If the MTN Issuer intends (other than consequent upon an Issuer Event of Default) to redeem all or any of the Covered Bonds Notes of a relevant Series 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 the MTN Issuer’s 's option required to be given to the Holders of any Covered BondsNoteholders, give written notice of such intention to the Bond Trustee and the Issuing and Principal Paying Agent or, in the case of Registered Covered Bonds, the Registrar (copied with a copy to the Issuing and Paying AgentTrustee) stating the date on which such Covered Bonds Notes are to be redeemed or such option is to be exercised. 10.02 9.2 In respect of any Covered Bonds to Notes of a relevant Series which Condition 6.07 applies or which carries carry any other right of redemption or other right exercisable at the option of the Holders of such Covered BondsNoteholders, the MTN Issuer will provide the Paying Agents or, in the case of Registered Covered Bonds, the Registrar with copies of the form of the current redemption notice or exercise notice and the Paying Agents or, as the case may be, the Registrar will make available forms of the current redemption notice or exercise notice to Holders of Covered Bonds Noteholders upon request during usual business hours at their respective specified offices. Upon receipt of any Covered Bond Note deposited in the exercise of such option, the Paying Agent or, in the case of Registered Covered Bonds, the Registrar with which such Covered Bond Note is deposited shall hold such Covered Bond Note (together with, in the case of a Definitive Covered BondNote, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Covered Bond Noteholder (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond 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 Covered Bond Note (and any such Receipts and/or Coupons) to itself for payment in accordance with the Conditions and shall pay such moneys monies in accordance with the directions of the Holder of the Covered Bond Noteholder 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 Covered Bonds, the RegistrarAgent, shall take such steps as may be required to be taken by it in the Conditions. 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 Covered Bond Note or if upon due presentation payment of such redemption moneys monies is improperly withheld or refused, the Paying Agent concerned or, as the case may be, the Registrar shall, without prejudice to the exercise of such option, mail such Covered Bond Note (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder of the relevant Covered Bond Noteholder at such address as may have been given by such Holder Noteholder in the relevant redemption notice. 10.03 9.3 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such optionoption in relation to a particular date, in relation to Bearer Covered Bonds Notes each Paying Agent shall promptly notify the Issuing and Principal Paying Agent of the principal amount of the Covered Bonds Notes of a relevant Series in respect of which such option has been exercised with it together with their serial numbers and the Issuing and Principal Paying Agent shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of such details and, in to the case of a Global Covered Bond that is a NGCB, shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth ScheduleMTN Issuer. 10.04 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Registered Covered Bonds, the Registrar shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of the principal amount of the Covered Bonds in respect of which such option has been exercised together with their serial numbers and in the case of a Registered Global Covered Bond held under the NSS, the European Registrar shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule.

Early Redemption and Exercise of Options. 10.01 10.1 If the Issuer intends (other than consequent upon an Issuer Event of DefaultDefault or a Mandatory Redemption Event) to redeem all or any of the Covered Bonds Notes of a relevant Series 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 the Issuer’s 's option required to be given to the Holders of any Covered BondsNotes, give written notice of such intention to the Bond Trustee and the Issuing and Principal Paying Agent orwith a copy to the Trustee and, in the case of Registered Covered Bonds, Notes the Registrar (copied to the Issuing and Paying Agent) stating the date on which such Covered Bonds Notes are to be redeemed or such option is to be exercised. 10.02 10.2 In respect of any Covered Bonds Notes of a relevant Series to which Condition 6.07 7(g) or Condition 7(k) applies or which carries carry any other right of redemption or other right exercisable at the option of the Holders Noteholders of such Covered BondsNotes, the Issuer will provide the Paying Agents or, in the case of Registered Covered Bonds, Notes the Registrar with copies of the form of the current redemption notice or exercise notice and the Paying Agents or, as in the case may be, of Registered Notes the Registrar will make available forms of the current redemption notice or exercise notice to Holders Noteholders of Covered Bonds Notes upon request during usual business hours at their respective specified offices. Upon receipt of any Covered Bond Note deposited in the exercise of such option, the Paying Agent or, in the case of Registered Covered Bonds, the Registrar with which such Covered Bond is deposited shall hold such Covered Bond Note (together with, in the case of a Definitive Covered BondNote, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder Noteholder of such Covered Bond Note (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond 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 Covered Bond Note (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 Noteholder of the Covered Bond Note contained in the relevant redemption notice. In the case of an exercise of any other option, the relevant Paying Agent or, or in the case of Registered Covered Bonds, Notes the Registrar, Registrar shall take such steps as may be required to be taken by it in by the Conditions. 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 Covered Bond Note or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, as in the case may be, of Registered Notes the Registrar shall, without prejudice to the exercise of such option, mail such Covered Bond Note (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder Noteholder of the relevant Covered Bond Note at such address as may have been given by such Holder Noteholder in the relevant redemption notice. 10.03 10.3 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such optionoption in relation to a particular date, in relation to Bearer Covered Bonds the Notes each Paying Agent shall promptly notify the Issuing and Principal Paying Agent of the principal amount of the Covered Bonds Notes of a relevant Series in respect of which such option has been exercised with it together with their serial numbers numbers, together with the Registered Note Certificates in respect of Registered Notes as the case may be, and the Issuing and Principal Paying Agent shall promptly notify such details to the Issuer, the Guarantor LP and the Bond Trustee of such details and, in the case of a Global Covered Bond that is a NGCB, shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule. 10.04 10.4 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such optionoption in relation to a particular date, in relation to Registered Covered BondsNotes of a relevant Series, the Registrar shall promptly notify the Issuer, Issuer with a copy to the Guarantor LP and the Bond Trustee Principal Paying Agent of the principal amount Principal Amount of the Covered Bonds Registered Notes in respect of which such option has been exercised together with their serial numbers and in the case of a Registered Global Covered Bond held under the NSS, the European Registrar shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply together with the provisions set out Registered Note Certificates in the Fifth Schedulerespect thereof.

Early Redemption and Exercise of Options. 10.01 9.01 If the Issuer intends (other than consequent upon an Issuer Event of Default) to redeem all or any of the Covered Bonds 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 the Issuer’s option required to be given to the Holders of any Covered Bonds, give written notice of such intention to the Bond Trustee and the Issuing and Paying Agent or, in the case of Registered Covered Bonds, the Registrar (copied to the Issuing and Paying Agent) stating the date on which such Covered Bonds are to be redeemed or such option is to be exercised. 10.02 9.02 In respect of any Covered Bonds to which Condition 6.07 applies or which carries any other right of redemption or other right exercisable at the option of the Holders of such Covered Bonds, the Issuer will provide the Paying Agents or, in the case of Registered Covered Bonds, the Registrar with copies of the form of the current redemption notice or exercise notice and the Paying Agents or, as the case may be, the Registrar will make available forms of the current redemption notice or exercise notice to Holders of Covered Bonds upon request during usual business hours at their respective specified offices. Upon receipt of any Covered Bond deposited in the exercise of such option, the Paying Agent or, in the case of Registered Covered Bonds, the Registrar with which such Covered Bond is deposited shall hold such Covered Bond (together with, in the case of a Definitive Covered Bond, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Covered Bond (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond 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 Covered Bond (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 Covered Bond 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 Covered Bonds, the Registrar, shall take such steps as may be required to be taken by it in the Conditions. 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 Covered Bond or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, as the case may be, the Registrar shall, without prejudice to the exercise of such option, mail such Covered Bond (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder of the relevant Covered Bond at such address as may have been given by such Holder in the relevant redemption notice. 10.03 9.03 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Bearer Covered Bonds each Paying Agent shall promptly notify the Issuing and Paying Agent of the principal amount of the Covered Bonds in respect of which such option has been exercised with it together with their serial numbers and the Issuing and Paying Agent shall promptly notify such details to the Issuer, the Guarantor LP and the Bond Trustee of such details and, in the case of a Global Covered Bond that is a NGCB, shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule. 10.04 9.04 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Registered Covered Bonds, the Registrar shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of the principal amount of the Covered Bonds in respect of which such option has been exercised together with their serial numbers and numbers. 9.05 Notwithstanding the foregoing, in the case of a Registered Global event that the Issuer issues Covered Bond held Bonds under the NSSProgramme that are payable and/or dischargeable by the Issuer by payment or delivery of securities and/or other property or any combination of cash, the European Registrar shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule.securities and/or property, the

Early Redemption and Exercise of Options. 10.01 8.01 If the Issuer intends (other than consequent upon an Issuer Event of Default) to redeem all or any one or more of the Covered Bonds 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 the Issuer’s option required to be given to the Holders of any Covered Bonds, give written notice of such intention to the Bond Trustee and the Issuing and Paying Agent or, in the case of Registered Covered Bonds, the Registrar (copied to the Issuing and Paying Agent) stating the date on which such Covered Bonds are to be redeemed or such option is to be exercised.given 10.02 8.02 In respect of any Covered Bonds to which Condition 6.07 applies or which carries any other right of redemption or other right exercisable at the option of the Holders of such Covered Bonds, the Issuer will provide the Paying Agents or, in as the case of Registered Covered Bondsmay be, the Registrar with copies of the form of the current redemption notice or exercise notice and the Paying Agents or, as the case may be, the Registrar will make available forms of the current redemption notice or exercise notice to Holders of Covered Bonds upon request during usual business hours at their respective specified offices. Upon receipt of any Covered Bond deposited in the exercise of such option, the Paying Agent or, in as the case of Registered Covered Bondsmay be, the Registrar with which such Covered Bond is deposited shall hold such Covered Bond (together with, in the case of a Definitive Covered Bond, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Covered Bond Bonds (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond 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 Covered Bond (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 such Covered Bond Bonds 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 Covered Bonds, the Registrar, shall take such steps as may be required to be taken by it in the Conditions. 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 and is continuing in respect of such Covered Bond or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, as the case may be, the Registrar shall, without prejudice to the exercise of such option, mail such Covered Bond (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder of such Covered Bonds of the relevant Covered Bond at such address as may have been given by such Holder in the relevant redemption notice. 10.03 8.03 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Bearer Covered Bonds each Paying Agent shall promptly notify the Issuing and Paying Agent of the principal amount of the Covered Bonds in respect of which such option has been exercised with it together with their serial numbers and the Issuing and Paying Agent shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of such details and, in the case of a Global Covered Bond that is a NGCB, shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule. 10.04 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 seven days after the latest date for the exercise of such option, in relation to Registered Covered Bonds, the Registrar shall promptly notify the applicable Paying Agents, Issuer, the Guarantor LP and the Bond Trustee of the principal amount of the Covered Bonds in respect of which such option has been exercised together with their serial numbers and numbers. 8.04 Notwithstanding the foregoing, in the case of a Registered Global event that the Issuer issues Covered Bond held Bonds under the NSSProgramme that are payable and/or dischargeable by the Issuer by payment or delivery of securities and/or other property or any combination of cash, securities and/or property, the European Registrar shall instruct procedures governing the ICSDs to make appropriate entries in their records to reflect the exercise early redemption of such option and otherwise Covered Bonds shall comply with the provisions be set out forth in the Fifth Scheduleapplicable Final Terms or Covered Bond.

Early Redemption and Exercise of Options. 10.01 If the Issuer intends (other than consequent upon an Issuer Event of Default) to redeem all or any of the Covered Bonds 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 the Issuer’s option required to be given to the Holders of any Covered Bonds, give written notice of such intention to the Bond Trustee and the Issuing and Paying Agent or, in the case of Registered Covered Bonds, the Registrar (copied to the Issuing and Paying Agent) stating the date on which such Covered Bonds are to be redeemed or such option is to be exercised. 10.02 In respect of any Covered Bonds to which Condition 6.07 applies or which carries any other right of redemption or other right exercisable at the option of the Holders of such Covered Bonds, the Issuer will provide the Paying Agents or, in the case of Registered Covered Bonds, the Registrar with copies of the form of the current redemption notice or exercise notice and the Paying Agents or, as the case may be, the Registrar will make available forms of the current redemption notice or exercise notice to Holders of Covered Bonds upon request during usual business hours at their respective specified offices. Upon receipt of any Covered Bond deposited in the exercise of such option, the Paying Agent or, in the case of Registered Covered Bonds, the Registrar with which such Covered Bond is deposited shall hold such Covered Bond (together with, in the case of a Definitive Covered Bond, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Covered Bond (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond 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 Covered Bond (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 Covered Bond 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 Covered Bonds, the Registrar, shall take such steps as may be required to be taken by it in the Conditions. 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 Covered Bond or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, as the case may be, the Registrar shall, without prejudice to the exercise of such option, mail such Covered Bond (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder of the relevant Covered Bond at such address as may have been given by such Holder in the relevant redemption notice. 10.03 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Bearer Covered Bonds each Paying Agent shall promptly notify the Issuing and Paying Agent of the principal amount of the Covered Bonds in respect of which such option has been exercised with it together with their serial numbers and the Issuing and Paying Agent shall promptly notify such details to the Issuer, the Guarantor LP and the Bond Trustee of such details and, in the case of a Global Covered Bond that is a NGCB, shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule. 10.04 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Registered Covered Bonds, the Registrar shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of the principal amount of the Covered Bonds in respect of which such option has been exercised together with their serial numbers and in the case of a Registered Global Covered Bond held under the NSS, the European Registrar shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule.

Early Redemption and Exercise of Options. 10.01 8.01 If the Issuer intends (other than consequent upon an Issuer Event of Default) to redeem all or any of the Covered Bonds 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 the Issuer’s option required to be given to the Holders of any Covered Bonds, give written notice of such intention to the Bond Trustee and the Issuing and Paying Agent or, in the case of Registered Covered Bonds, the Registrar (copied to the Issuing and Paying AgentRegistrar) stating the date on which such Covered Bonds are to be redeemed or such option is to be exercised. 10.02 8.02 In respect of any Covered Bonds to which Condition 6.07 applies or which carries any other right of redemption or other right exercisable at the option of the Holders of such Covered Bonds, the Issuer will provide the Paying Agents or, in the case of Registered Covered Bonds, the Registrar with copies of the form of the current redemption notice or exercise notice and the Paying Agents or, as the case may be, the Registrar will make available forms of the current redemption notice or exercise notice to Holders of Covered Bonds upon request during usual business hours at their respective specified offices. Upon receipt of any Covered Bond deposited in the exercise of such option, the Paying Agent or, in the case of Registered Covered Bonds, the Registrar with which such Covered Bond is deposited shall hold such Covered Bond (together with, in the case of a Definitive Covered Bond, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Covered Bond (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond 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 Covered Bond (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 Covered Bond 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 Covered Bonds, the Registrar, shall take such steps as may be required to be taken by it in the Conditions. 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 Covered Bond or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, as the case may be, the Registrar shall, without prejudice to the exercise of such option, mail such Covered Bond (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder of the relevant Covered Bond at such address as may have been given by such Holder in the relevant redemption notice. 10.03 8.03 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Bearer Covered Bonds each Paying Agent shall promptly notify the Issuing and Paying Agent of the principal amount of the Covered Bonds in respect of which such option has been exercised with it together with their serial numbers and the Issuing and Paying Agent shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of such details and, in the case of a Global Covered Bond that is a NGCB, shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule. 10.04 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 seven days after the latest date for the exercise of such option, in relation to Registered Covered Bonds, the Registrar shall promptly notify the applicable Paying Agents, Issuer, the Guarantor LP and the Bond Trustee of the principal amount of the Covered Bonds in respect of which such option has been exercised together with their serial numbers and and, in the case of a Registered Global Covered Bond held under the NSS, the European Registrar shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule. 8.04 Notwithstanding the foregoing, in the event that the Issuer issues Covered Bonds under the Programme that are payable and/or dischargeable by the Issuer by payment or delivery of securities and/or other property or any combination of cash, securities and/or property, the procedures governing the early redemption of such Covered Bonds shall be set forth in the applicable Final Terms or Covered Bond.

Early Redemption and Exercise of Options. 10.01 8.01 If the Issuer intends (other than consequent upon an Issuer Event of Default) to redeem all or any of the Covered Bonds 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 the Issuer’s option required to be given to the Holders of any Covered Bonds, give written notice of such intention to the Bond Trustee and the Issuing and Paying Agent or, in the case of Registered Covered Bonds, the Registrar (copied to the Issuing and Paying AgentRegistrar) stating the date on which such Covered Bonds are to be redeemed or such option is to be exercised. 10.02 8.02 In respect of any Covered Bonds to which Condition 6.07 applies or which carries any other right of redemption or other right exercisable at the option of the Holders of such Covered Bonds, the Issuer will provide the Paying Agents or, in as the case of Registered Covered Bondsmay be, the Registrar with copies of the form of the current redemption notice or exercise notice and the Paying Agents or, as the case may be, the Registrar will make available forms of the current redemption notice or exercise notice to Holders of Covered Bonds upon request during usual business hours at their respective specified offices. Upon receipt of any Covered Bond deposited in the exercise of such option, the Paying Agent or, in as the case of Registered Covered Bondsmay be, the Registrar with which such Covered Bond is deposited shall hold such Covered Bond (together with, in the case of a Definitive Covered Bond, any Receipts and/or Coupons relating to it deposited with it) on behalf of the depositing Holder of such Covered Bond Bonds (but shall not, save as provided below, release it) until the due date for redemption of the relevant Covered Bond 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 Covered Bond (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 such Covered Bond Bonds 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 Covered Bonds, the Registrar, shall take such steps as may be required to be taken by it in the Conditions. 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 Covered Bond or if upon due presentation payment of such redemption moneys is improperly withheld or refused, the Paying Agent concerned or, as the case may be, the Registrar shall, without prejudice to the exercise of such option, mail such Covered Bond (together with any such Receipts and/or Coupons) by uninsured post to, and at the risk of, the Holder of such Covered Bonds of the relevant Covered Bond at such address as may have been given by such Holder in the relevant redemption notice. 10.03 8.03 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 days after the latest date for the exercise of such option, in relation to Bearer Covered Bonds each Paying Agent shall promptly notify the Issuing and Paying Agent of the principal amount of the Covered Bonds in respect of which such option has been exercised with it together with their serial numbers and the Issuing and Paying Agent shall promptly notify the Issuer, the Guarantor LP and the Bond Trustee of such details and, in the case of a Global Covered Bond that is a NGCB, shall instruct the ICSDs to make appropriate entries in their records to reflect the exercise of such option and otherwise shall comply with the provisions set out in the Fifth Schedule. 10.04 At the end of any applicable period for the exercise of such option or, as the case may be, not later than 7 seven days after the latest date for the exercise of such option, in relation to Registered Covered Bonds, the Registrar shall promptly notify the applicable Paying Agents, Issuer, the Guarantor LP and the Bond Trustee of the principal amount of the Covered Bonds in respect of which such option has been exercised together with their serial numbers and numbers. 8.04 Notwithstanding the foregoing, in the case of a Registered Global event that the Issuer issues Covered Bond held Bonds under the NSSProgramme that are payable and/or dischargeable by the Issuer by payment or delivery of securities and/or other property or any combination of cash, securities and/or property, the European Registrar shall instruct procedures governing the ICSDs to make appropriate entries in their records to reflect the exercise early redemption of such option and otherwise Covered Bonds shall comply with the provisions be set out forth in the Fifth Scheduleapplicable Final Terms or Covered Bond.