Cross-Series Modifications and Cross-Series Proposals
In the case of a Cross-Series Modification and/or Cross-Series Proposal, any modification in relation to, or proposal
relating to, a Reserved Matter, the terms and conditions of the Class Securities and any other series of Debt Securities (as
defined in the Trust Deed but subject to the first paragraph of Condition 10.1), and any agreement governing the issuance
or administration of the Class Securities or Debt Securities of such other series may only be approved, with the consent of
the Republic (provided that the consent of the Republic shall not be required in connection with any request by the Trustee
for directions from the relevant holders) and:
(a)(i) the affirmative vote of not less than 75% of the aggregate principal amount of the Outstanding Debt Securities
represented at separate duly called and quorate meetings of the holders of the Debt Securities of all the series (taken in the
aggregate) that would be affected by the proposal and/or proposed modification; or
(a)(ii) written resolutions signed by or on behalf of the holders of not less than 66 2/3% of the aggregate principal
amount of the Outstanding Debt Securities of all the series (taken in the aggregate) that would be affected by the proposal
and/or proposed modification;
and
(b)(i) the affirmative vote of more than 66 2/3% of the aggregate principal amount of the Outstanding Debt Securities
represented at separate duly called and quorate meetings of the holders of each series of Debt Securities (taken
individually) that would be affected by the proposal and/or proposed modification; or
(b)(ii) written resolutions signed by or on behalf of the holders of more than 50% of the aggregate principal amount of
the then Outstanding Debt Securities of each series (taken individually) that would be affected by the proposal and/or
proposed modification.
For the purposes of this Condition 10.6:
(a) Debt Security means any bill, bond, debenture, note or other debt security issued by the Republic in one or more
series with an original stated maturity of more than one year, and includes any such obligation, irrespective of its
original stated maturity, that formerly constituted a component part of a Debt Security;
(b) Cross-Series Modification means a modification involving (i) the Class Securities or any agreement governing
the issuance or administration of the Class Securities, and (ii) one or more other series of Debt Securities or any
agreement governing the issuance or administration of such other series of Debt Securities;
(c) Cross-Series Proposal means a proposal or matter for consideration affecting or concerning (i) the Class
Securities or any agreement governing the issuance or administration of the Class Securities, and (ii) one or more
other series of Debt Securities or any agreement governing the issuance or administration of such other series of
Debt Securities; and
(d) series means, unless otherwise specified in the terms and conditions of such Debt Securities, Debt Securities that
are (i) identical in all respects except for their date of issuance or first payment date, and (ii) expressed to be
consolidated and form a single series,
provided that the definitions set out immediately above shall be subject to and construed in accordance with Condition
10.1.
For the avoidance of doubt, the Class Securities shall be treated as one series of Debt Securities for the purposes of
Conditions 10.6(b)(i) and 10.6(b)(ii).
