Swiss Francs. Committed Rate Eurocurrency Loans: for any Interest Period in respect of any Committed Rate Eurocurrency Loan denominated in Swiss Francs, the rate of interest per annum for deposits in Swiss Francs for a period beginning on the first day of such Interest Period and ending on the last day of such Interest Period equal to the British Bankers Association LIBOR Rate for such deposits which appears on the Telerate Page 3750 (or such other page on the Telerate Service as may replace such page) comparable in amount to the principal amount of such Committed Rate Eurocurrency Loan (or, if no such quotation appears on any such Telerate Page, on the Reuters Screen then displaying the British Bankers Association LIBOR Rates for such deposits (or, if no such quotation appears on any such Reuters Screen, on the page or screen of such other service as may be nominated as the information vendor for the purpose of displaying the British Bankers Association fixing of its LIBOR Rates for such deposits)) as of 11:30 a.m., London time, on the Quotation Day for such Interest Period. Committed Rate Eurocurrency Loans: for any Interest Period, in respect of any Committed Rate Eurocurrency Loan denominated in Japanese Yen, the rate of interest per annum for deposits in Japanese Yen for a period beginning on the first day of such Interest Period and ending on the last day of such Interest Period equal to the British Bankers Association LIBOR Rate for such deposits which appears on the Telerate Page 3750 (or such other page on the Telerate Service that replaces such page) comparable in amount to the principal amount of such Committed Rate Eurocurrency Loan (or, if no such quotation appears on any such Telerate Page, on the Reuters Screen then displaying the British Bankers Association LIBOR Rate for such deposits (or, if no such quotation appears on any such Reuters Screen, on the page or screen of such other service as may be nominated as the information vendor for the purpose of displaying the British Bankers Association fixing of its LIBOR Rates for such deposits)) as of 11:30 a.m., London time, on the Quotation Day for such Interest Period. Committed Rate Eurocurrency Loans: for any Interest Period in respect of any Committed Rate Eurocurrency Loan denominated in Hong Kong Dollars, the rate of interest per annum for deposits in Hong Kong Dollars for a period beginning on the first day of such Interest Period and ending on the last day of such Interest Period equal to the rate f...

Swiss Francs. Tiffany, Tiffany International and Tiffany Switzerland Watch. and to add in appropriate alphabetical order the following new definitions:

Swiss Francs. Issues of Notes denominated in Swiss francs or carrying a Swiss franc- related element with a maturity of more than one year (other than Notes privately placed with a single investor with no publicity) will be effected in compliance with the relevant regulations of the Swiss National Bank based on article 7 of the Federal Law on Banks and Savings Banks of 8th November, 1934 (as amended) and article 15 of the Federal Law on Stock Exchanges and Securities Trading of 24th March, 1995 in connection with article 2, paragraph 2 of the Ordinance of the Federal Banking Commission on Stock Exchanges and Securities Trading of 2nd December, 1996. Under the said regulations, the relevant Dealer or, in the case of a syndicated issue, the lead manager (the “Swiss Dealer”), must be a bank domiciled in Switzerland (which includes branches or subsidiaries of a foreign bank located in Switzerland) or a securities dealer duly licensed by the Swiss Federal Banking Commission pursuant to the Federal Law on Stock Exchanges and Securities Trading of 24th March, 1995. The Swiss Dealer must report certain details of the relevant transaction to the Swiss National Bank no later than the Issue Date of the relevant Notes. Notes having a maturity of less than one year will, if the proceeds of the issue are accepted in the United Kingdom, constitute deposits for the purposes of the prohibition on accepting deposits contained in section 19 of the Financial Services and Markets Act 2000 unless they are issued to a limited class of professional investors and have a minimum redemption value of at least £100,000 or its equivalent, see “Subscription and Sale”. Issuing and Principal Paying Agent: The Bank of New York Programme Size: Up to A2,500,000,000 (or its equivalent in other currencies calculated as described under “General Description of the Programme”) outstanding at any time. The Issuers and the Guarantor may increase the amount of the Programme in accordance with the terms of the Programme Agreement.

Swiss Francs subject to ------------ ------------- and in accordance with the terms and conditions printed on the back hereof. Interest is payable annually in arrears at a rate of 5 1/8% per annum upon presentation and surrender at the aforesaid offices of the attached coupons in accordance with such terms and conditions. This Bond is one of a series of Bonds of the Company in the aggregate principal amount of Swiss Francs 100,000,000.-- (hereinafter referred to as the "Bonds"), issued under and pursuant to a Bond and Warrant Issue Agreement dated February 27, 1985 (the "Bond and Warrant Issue Agreement"), duly executed by and among the Company of the first part, and First Chicago S.A. and a Consortium of Financial Institutions as mentioned therein of the second part. The Bonds are issued subject to and with the benefit of the terms of the Bonds appearing on the reverse hereof. English shall be the prevailing language for the understanding and interpretation of the Company's undertaking as evidenced by this Bond.

Swiss Francs. CURRENCY: Swiss francs.

Swiss Francs. 3. If the amount quoted in clause 2 of this Article should prove insufficient to meet the expenses actually incurred by the UN to perform the work described in Article I, the WHO shall provide the UN with the necessary funds to make up the difference. 4. All monies required to be paid by WHO under the terms of this Article shall be paid by the WHO in a manner to be worked out by separate agreement between the parties hereto. In any event the WHO undertakes •to pay the monies required to be paid by the WHO under the terms of Article I of this agreement to the UN in sufficient time to allow the UN to meet any contractual obligations entered into by the UN in pursuance to Article I of this agreement.

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Canadian Dollars All references herein to dollar amounts are to lawful money of Canada.
Dollars The term “
Currencies Currency Equivalents (a) At any time, any reference in the definition of the term “Alternative Currency” or in any other provision of this Agreement or any other Loan Document to the Currency of any particular nation shall mean the then lawful currency of such nation at such time whether or not the name of such Currency is the same as it was on the date of this Agreement or such other Loan Document, as the case may be. (b) The Agent shall determine the Spot Rates as of each Revaluation Date to be used for calculating the Dollar Equivalent of outstanding Revolving Credit Loans denominated in Alternative Currencies. Such Spot Rates shall become effective as of such Revaluation Date and shall be the Spot Rates employed in converting any amounts between the applicable Currencies until the next Revaluation Date to occur. Except for purposes of financial statements delivered hereunder or calculating covenants hereunder or except as otherwise provided herein, the applicable amount of any Currency (other than Dollars) for purposes of the Loan Documents shall be the Dollar Equivalent of such amount as so determined by the Agent. All financial statements delivered hereunder and covenants (including the respective components of such covenants) calculated hereunder by Borrower shall be calculated in Dollars using, for amounts denominated in currencies other than Dollars, the Spot Rate then in effect or such other rate as may be approved by Agent in its reasonable discretion; provided, however, that for any such financial statements or covenant calculations that require the determination of Net Operating Income, Net Income (or Loss), and/or EBITDA (each, an “Income Component”) of Borrower or any of its Subsidiaries or Unconsolidated Affiliates, any amounts comprising such Income Components that are denominated in currencies other than Dollars shall be converted to Dollars using the same exchange rates used by the Borrower for its financial statements filed (or to be filed) with the SEC for the applicable period. (c) For purposes of determining (i) whether the amount of any Loan, together with all other Loans and LC Exposure then outstanding, would exceed the Revolving Credit Commitments or would cause a violation of any covenants contained herein, (ii) the aggregate unutilized amount of the Revolving Credit Commitments, (iii) the outstanding aggregate principal amount of the Loans or the LC Exposure, and (iv) the LC Exposure in respect of any Letters of Credit denominated in an Alternative Currency, the outstanding principal amount of any Alternative Currency Loan or any LC Exposure relating to any Letter of Credit that is denominated in any Alternative Currency shall be deemed to be the Dollar Equivalent of the amount of the Alternative Currency of such Loan or such LC Exposure determined by Agent as of the applicable Revaluation Date. (d) For purposes of determining, in connection with the borrowing, converting, continuing or prepaying of a Loan hereunder, the termination of any Commitment hereunder or the issuance, amendment or extension of a Letter of Credit hereunder on any date, any amount (including, without limitation, any required minimum or multiple amount) is expressed in Dollars, but such Loan or Letter of Credit is denominated in an Alternative Currency, such amount shall be the relevant Alternative Currency Equivalent of such Dollar amount (rounded to the nearest 1,000 units of such Alternative Currency), as determined by the Agent as of the applicable Revaluation Date.
Alternative Currencies (a) The Borrower may from time to time request that LIBO Rate Revolving Loans be made and/or Letters of Credit be issued in a currency other than Dollars; provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of LIBO Rate Revolving Loans, such request shall be subject to the approval of the Revolving Lenders of the applicable Class that will provide such Loans, and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the applicable Issuing Banks, in each case as set forth in Section 9.02(b)(ii)(E). (b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m., ten Business Days prior to the requested date of the making of such Revolving Loan or issuance of such Letter of Credit (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the applicable Issuing Banks, in its or their sole discretion). In the case of any such request pertaining to LIBO Rate Revolving Loans, the Administrative Agent shall promptly notify each Revolving Lender thereof; and in the case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify the applicable Issuings Bank thereof. Each applicable Revolving Lender (in the case of any such request pertaining to LIBO Rate Revolving Loans) or each applicable Issuing Bank (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., five Business Days after receipt of such request whether it consents, in its sole discretion, to the making of LIBO Rate Revolving Loans or the issuance of Letters of Credit, as the case may be, in such requested currency. (c) Any failure by a Revolving Lender or Issuing Bank, as the case may be, to respond to such request within the time period specified in the preceding paragraph shall be deemed to be a refusal by such Revolving Lender or Issuing Bank, as the case may be, to permit LIBO Rate Revolving Loans to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent and all the applicable Revolving Lenders consent to making LIBO Rate Revolving Loans or issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Borrower and the Borrower and the Revolving Lenders shall amend this Agreement and the other Loan Documents as necessary to accommodate such Borrowings and/or Letters of Credit (as applicable), in accordance with Section 9.02(b)(ii)(E). If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.10, the Administrative Agent shall promptly so notify the Borrower.
Foreign Currency The term “
U.S. Dollars All amounts expressed in this Agreement and all payments required by this Agreement are in United States dollars.
Blocked Currency In each country where the local currency is blocked and cannot be removed from the country, royalties or profit share payments accrued in that country shall be paid to the receiving Party in the country in local currency by deposit in a local bank designated by the receiving Party, unless the Parties otherwise agree.
Foreign Currency Exchange Unless the Depositor shall otherwise direct, whenever funds are received by the Trustee in foreign currency, upon the receipt thereof or, if such funds are to be received in respect of a sale of Securities, concurrently with the contract of the sale for the Security (in the latter case the foreign exchange contract to have a settlement date coincident with the relevant contract of sale for the Security), the Trustee shall enter into a foreign exchange contract for the conversion of such funds to U.S. dollars pursuant to the instruction of the Depositor. The Trustee shall have no liability for any loss or depreciation resulting from action taken pursuant to such instruction." BB. Article IV of the Standard Terms and Conditions of Trust is hereby replaced with the following:
Payment in Singapore dollars You must pay us all sums due under this agreement in Singapore dollars. If we receive a payment in a currency other than Singapore dollars, we will convert it to Singapore dollars at such time and rate of exchange as we may in our reasonable discretion adopt in accordance with our usual practice. You must bear all exchange risks, and reasonably incurred losses, commission, fees and charges which may thereby arise.
Payments in Foreign Currency Except as disclosed in Registration Statement, the Statutory Prospectus and the Prospectus, under current laws and regulations of the Cayman Islands and any political subdivision thereof, all dividends and other distributions declared and payable on the Offered Securities may be paid by the Company to the holder thereof in United States dollars or Cayman Islands dollars that may be converted into foreign currency and freely transferred out of the Cayman Islands and all such payments made to holders thereof or therein who are non-residents of the Cayman Islands will not be subject to income, withholding or other taxes under laws and regulations of the Cayman Islands or any political subdivision or taxing authority thereof or therein and will otherwise be free and clear of any other tax, duty, withholding or deduction in the Cayman Islands or any political subdivision or taxing authority thereof or therein and without the necessity of obtaining any governmental authorization in the Cayman Islands or any political subdivision or taxing authority thereof or therein. Any certificate signed by any officer or director of the Company and delivered to the Representative or counsel for the Underwriters in connection with the Offering shall be deemed a representation and warranty by the Company, as to matters covered thereby, to each Underwriter.

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