HYDRO-QUÉBEC MEDIUM-TERM NOTES Due Nine Months or More from Date of Issue Guaranteed unconditionally as to Principal, premium, if any, and interest by QUÉBEC CALCULATION AGENCY AGREEMENTCalculation Agency Agreement • June 3rd, 2004 • Hydro Quebec • Electric, gas & sanitary services
AGREEMENT, dated as of June 2, 2004, between Hydro-Québec and BNY Trust Company of Canada, as calculation agent (the "Calculation Agent", which term shall, unless the context otherwise requires, include its successors and assigns).
BNY Trust Company of Canada, 4 King Street West, Suite 1101, Toronto, Ontario M5H 1B6. Re: Fiscal Agency Agreement Ladies and Gentlemen:Fiscal Agency Agreement • June 3rd, 2004 • Hydro Quebec • Electric, gas & sanitary services
This letter of agreement (this "Agreement") will confirm the appointment by Hydro-Québec of BNY Trust Company of Canada (the "Fiscal Agent", which term shall, unless the context otherwise requires, include its successors and assigns) upon the terms and conditions set forth below to act as fiscal agent, in The City of New York, in connection with the issuance by Hydro-Québec of Medium-Term Notes Due Nine Months or More from Date of Issue (the "Notes"), guaranteed unconditionally as to payment of principal and premium, if any, and interest by Québec (the "Guarantor"). The Notes shall be sold on behalf of Hydro-Québec by Merrill Lynch, Pierce, Fenner & Smith Incorporated, Credit Suisse First Boston LLC, CIBC World Markets Corp., Citigroup Global Markets Inc., J.P. Morgan Securities Inc., Putnam Lovell NBF Securities Inc., RBC Capital Markets Corporation and Scotia Capital (USA) Inc. or such other agents as Hydro-Québec may appoint from time to time and of whose appointment the Fiscal Agen
