Selection of Participants. The GS Group may select the Issuer, the Assets, the Trustee and the Agents. The GS Group may receive various benefits, including compensation, commissions, payments, rebates, remuneration and business opportunities, in connection with or as a result of an offering of Notes pursuant to the Programme and any interests in and relationship with the Issuer, the Assets, the Trustee and/or the Agents. The benefits to the GS Group (including benefits relating to investments by and business relationships of the GS Group) arising from a decision to select the specific Issuer, Assets, Trustee and/or Agents in relation to an offering of Notes pursuant to the Programme may be greater than they would have been had another issuer and/or other assets been selected. In addition, the fees, allocations, compensation, remuneration, and other benefits to the GS Group arising from its business relationships with the specific Issuer, Trustee and Assets selected for an offering of Notes pursuant to the Programme may be greater as a result of the selection of such Issuer and/or Trustee, and the portfolio, investment, service provider or other decisions made by the GS Group for such Issuer than they would have been had other decisions been made, which also might have been appropriate for such Issuer.
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