Common use of Macau Clause in Contracts

Macau. The notes may not be offered in Macau except under the terms of and in compliance with the Macau Financial System Act and any other laws in Macau that may apply to the offer, sale or distribution of the notes in Macau. The notes are not registered or otherwise authorized for public offer under the Financial System Act of Macau, and thus may not be offered or sold in Macau, unless such offer is made by credit or other financial institutions duly licensed in Macau and upon their communication to the Macau Monetary Authority. The offering of the notes to the selected institutional investors will not involve an offer to the public in Macau but will be restricted to those institutional investors who will receive this document in respect of the notes on a strictly private basis and in their sole capacity as an eligible investor.