Common use of Transfers of Registered Notes Clause in Contracts

Transfers of Registered Notes. (a) Transfers of interests in Registered Global Notes Transfers of beneficial interests in Global Notes in registered form ("Registered Global Notes") will be effected by Euroclear or Clearstream, Luxembourg or DTC, as the case may be and, in turn, by other participants and, if appropriate, by indirect participants in such clearing systems acting on behalf of beneficial transferors and transferees of such interests. A beneficial interest in a Registered Global Note will, subject to compliance with all applicable legal and regulatory restrictions, be exchangeable for a beneficial interest in another Registered Global Note only in the authorised denominations set out in the applicable Final Terms and only in accordance with the rules and operating procedures for the time being of Euroclear or Clearstream, Luxembourg or DTC, as the case may be, and in accordance with the terms and conditions specified in the Master Agency Agreement.

Transfers of Registered Notes. (a) Transfers of interests in Registered Global Notes Transfers of beneficial interests in Registered Global Notes in registered form ("Registered Global Notes") will be effected by Euroclear or Clearstream, Luxembourg or DTCLuxembourg, as the case may be be, and, in turn, by other participants and, if appropriate, by indirect participants in such clearing systems acting on behalf of beneficial transferors and transferees of such interests. A beneficial interest in a Registered Global Note will, subject to compliance with all applicable legal and regulatory restrictions, be exchangeable transferable for Definitive Registered Notes or for a beneficial interest in another Registered Global Note only in the authorised denominations set out in the applicable Final Terms Specified Denominations and only in accordance with the rules and operating procedures for the time being of Euroclear or Clearstream, Luxembourg or DTCLuxembourg, as the case may be, and in accordance with the terms and conditions specified in the Master Agency AgreementAgreement and the Trust Deed.