Limit

This Facility may be used for the purpose of spot and forward foreign exchange transactions and for currency options.

The Bank may in its discretion decide whether or not this Facility may be utilised and may specify pre-conditions to such utilisation.

Notwithstanding any non-execution of product documentation:

each foreign exchange utilisation will be deemed to be subject to and will be subject to the terms of IFEMA; and

each currency option utilisation will be deemed to be subject to and will be subject to the terms of ICOM.

If there is any conflict between the terms of the Facility Letter and those of IFEMA or ICOM, the terms of IFEMA or ICOM (as appropriate) will prevail, except in respect of any provisions in this Forward Exchange Contracts and Currency Option Facility Schedule which are expressed to be additional to or in replacement for any relevant IFEMA or ICOM provisions.

Copies of IFEMA and ICOM terms are available from the Bank on request.

Unless there is agreement in writing to the contrary, while this option is in force, the terms of the Facility Letter and particularly the terms of (a) and (b) above will continue to apply notwithstanding any pre-existing product documentation.

Each drawing under these Facilities will be made in accordance with and subject to the Bank’s current practice from time to time. Such practice will be explained on request as drawings are requested.

The Bank may in its discretion decide whether or not a drawing may be made under any of these Facilities and may specify pre-conditions to such drawing.

Without prejudice to the foregoing, the Borrower agrees, acknowledges and authorises that any request for a drawing under the Engagements Facility will require the:

completion of an application form in paper or electronic format and submitted to the Bank by delivery method(s) agreed with the Bank, and, where required by the Bank, following execution of: (A) any agreement(s) for or relating to use of the Bank’s electronic banking services, and/or (B) a fax indemnity (as the case requires); and

provision of a counter-indemnity, either by execution (on a request by request basis) of the counter-indemnity appearing overleaf on paper format application form, or by execution of an omnibus counter-indemnity (at the Borrower’s election, except that the execution of an omnibus counter-indemnity will be mandatory before any application can be submitted using the Bank’s electronic banking services),

The Borrower agrees and authorises that any application form, and all such other documents the Bank may require completed in relation thereto, may be completed, and any issuance instructions may be given, from time to time:

by any persons authorised to instruct the Bank to make payments on behalf of the Borrower, in the amount of the relevant instrument, under the terms of the account mandate provided to the Bank by the Borrower and then current; or

upon receipt of an executed omnibus counter-indemnity supporting applications made from time to time using any of the Bank’s electronic banking services, by any persons authorised or purporting to be authorised to instruct the Bank by electronic means as empowered in accordance with the agreement(s) between the Borrower and the Bank relating to the Borrower’s use of the electronic banking services and that any of such persons be authorised to agree with the Bank through any such electronic banking services the terms and conditions relating to such issued instrument from time to time.

Each drawing under this Facility will be made in accordance with and subject to the Bank’s current practice from time to time. Such practice will be explained on request as drawings are requested.

The Bank may in its discretion decide whether or not a drawing may be made under this Facility and may specify pre-conditions to such drawing.

Without prejudice to the foregoing, the Borrower agrees, acknowledges and authorises that a request for a drawing under this Facility will require completion of an application form in paper or electronic format and submitted to the Bank by delivery method(s) agreed with the Bank, and, where required by the Bank, following execution of: (A) any agreement(s) for or relating to use of the Bank’s electronic banking services, and/or (B) a fax indemnity (as the case requires).

The opening by the Bank of a documentary letter of credit (“Credit”) will constitute a drawing under this Import Option for the full amount of such Credit.

The Borrower agrees and acknowledges that any Credit issued by the Bank shall be subject to the Bank’s terms and conditions applicable from time to time to the issue of a Credit, as set out in the Bank’s preferred form of application form (whether in paper or electronic format).

The Borrower agrees and authorises that any application form, and all such other documents the Bank may require completed in relation thereto, may be completed, and any issuance instructions may be given, from time to time:

by any persons authorised to instruct the Bank to make payments on behalf of the Borrower, in the amount of the relevant instrument, under the terms of the account mandate provided to the Bank by the Borrower and then current; or

by any persons authorised or purporting to be authorised to instruct the Bank by electronic means as empowered in accordance with the agreement(s) between the Borrower and the Bank relating to the Borrower’s use of the electronic banking services and that any of such persons be authorised to agree with the Bank through any such electronic banking services the terms and conditions relating to such issued instrument from time to time.

Within the limit relevant to this Documentary Credit Option drawings may be made up to a maximum of £300,000 (Three hundred thousand pounds) outstanding at any one time to open sight documentary credits where the Bank does not obtain control over the relevant goods via documents of title.

Interest will be debited at the maturity of the relevant loan to the Borrower’s current account with the Bank as nominated for loan repayment in the loan application form.

The General Terms and Conditions attached also apply.

in relation to the Borrower, approving the Facility Letter and authorising a person or persons to accept the Facility Letter; and

approving the Omnibus Counter-Indemnity and authorising a person or persons to sign the Omnibus Counter-Indemnity

approving the Fax Indemnity and authorising a person or persons to sign the Fax Indemnity

approving any Security to be given by the Borrower and each company giving Security and authorising persons to execute that Security.

where the Borrower is required to prepare audited accounts by law, audited individual accounts, or

where the Borrower is not required to prepare audited accounts by law, unaudited individual accounts,

the application of the definition of Subsidiary to any company at any time shall apply to the company as it is at that time; and

references to Subsidiary are references to a Subsidiary of any of the Borrower.

The sterling equivalent (the Sterling Equivalent) of any amount denominated in another currency will be calculated by reference to the Bank’s then prevailing spot selling rate of exchange for the relevant currency of denomination against sterling.

In order to determine compliance or otherwise with the Limits, the aggregate Sterling Equivalents for all drawings outstanding and/or proposed will be calculated at such time as the Bank determines before each drawing is made.

refuse payment of any cheque or other order for payment which would result in the Borrower going over a Limit; and/or

refuse to allow any drawing or other disposal against any credit balance on any of the Borrower’s current accounts with the Bank if, as a result, the Borrower would go over a Limit.

If a drawing is due for repayment on a day when the Borrower is entitled to make a drawing, the Bank may require:

the amount of the drawing to be repaid to be deducted from the amount of the drawing to be made; and

only the difference in the amounts (if any) to be paid to the Borrower.

If the relevant drawings are denominated in different currencies, any difference will be calculated at such time as the Bank determines before the drawing by the Borrower by application of the Bank’s then prevailing spot selling rate of exchange for the currency due to the Bank against the currency to be drawn by the Borrower.

Interest will be calculated on a daily basis and on the basis that there are 365 days in each year. Interest calculated on this basis will be payable in respect of each of the 365 days in a calendar year (366 in a leap year).

On the dates interest (or any other charge) is debited, interest will become payable on any borrowings created by such debit.

The Bank may, from time to time and at its discretion, change its interest rates. The Bank makes its current interest rates available and gives notice of changes in its interest rates in accordance with the Facility Letter and/or the Business Banking Terms and Conditions.

If the Bank demands repayment of the Facilities or any of them, interest after demand will be charged at the same rates and on the same basis as before demand., except that:

in relation to the Import Line Facility, the Bank reserves the right to charge interest after demand on the Bank’s quarterly charging dates which at present are during March, June, September and December even though the relevant loan may not have matured at the date of such demand.

Interest will be payable on the outstanding amount of the relevant Facility at the rate specified in the Facility Letter calculated on a daily basis and on the basis that there are 360 days in each year. Interest calculated on this basis will be payable in respect of each of the 365 days in a calendar year (366 in a leap year).

Interest will be calculated up to and including the last Business Day of each May and November or upon earlier termination of any relevant Facility and debited in arrears on such day as the Bank determines to the relevant currency account together with any applicable commission charge in accordance with the Bank’s then current tariff.

On the dates interest (or any other charge) is debited, interest will become payable on any borrowings created by such debit.

If the Bank demands repayment of the Facilities or any of them, interest after demand will be charged at the same rates and on the same basis as before demand., except that in relation to the Import Line Facility, the Bank reserves the right to charge interest after demand on the Bank’s quarterly charging dates which at present are during March, June, September and December even though the relevant loan may not have matured at the date of such demand.

If, in the opinion of the Bank, deposits in a currency are not available to the Bank to finance any drawing on the relevant currency account:

such drawing may, at the Bank’s discretion, be re-denominated in such currency as the Bank determines by reference to the Bank’s then prevailing spot selling rate of exchange for the outstanding currency against the currency of re-denomination; and

any re-denominated drawing may also be subject to re-denomination in accordance with (i) above.

Upon any re-denomination, for any reason, the Bank may vary the terms of any relevant Facility relating to notice periods, interest rates, the basis of interest calculations and the value dating of credits received, if, in the opinion of the Bank, these terms are not appropriate for the re-denominated currency.

If the Bank demands repayment, the Bank may at any time re-denominate in sterling any amount due to the Bank at the Bank’s then prevailing spot selling rate of exchange for the relevant outstanding currency against sterling. The provisions of (b) above will remain in force following any such re-denomination.

Any reference to euro means the euro unit as defined in Regulation (EC) No. 1103/97 pronounced by the Council of the European Union and any reference to national currency unit has the meaning given to such expression by such Regulation, namely a unit of the currency of a participating Member State, as that unit is defined on the day before the start of the third stage of Economic and Monetary Union.

The Bank will not be under any obligation to accept any instructions, receive or make any payment or carry out any other transaction denominated in the euro or in any national currency unit on a day on which the Bank is not normally open for general business in the relevant jurisdiction where such transactions are to be received or carried out, whether or not such a day is a Business Day for transactions in the euro or the relevant national currency unit.

All payments by the Borrower will be made in cleared funds in the currency in which the payment is due on a Business Day on the due date for payment or, if that day is not a Business Day, on the next succeeding Business Day.

All payments will be made without any deduction or withholding (whether in respect of set-off, counterclaim, duties, taxes, charges or otherwise).

If the Borrower is required by law to make any deduction or withholding from a payment, it will promptly pay to the Bank such additional sums as will make the net sum received by the Bank equal to the full sum payable had there been no deduction or withholding.

The Borrower will pay to the Bank the amount of all costs and expenses (including any legal, security and valuation fees), stamp duty, taxes and other charges and registration costs incurred or charged by the Bank in connection with:

the negotiation, preparation, administration, amendment, variation or supervision of the Facilities, the Facility Letter and/or any Security; and

the enforcement of or the preservation of any rights under the Facility Letter and/or any Security and any proceedings instituted by or against the Bank as a consequence of taking or holding the Security or enforcing these rights.

the application of any Facility or any part of it by the Borrower; and/or

the provision of any Facility or any other banking facilities by the Bank to the Borrower; and/or

the Bank having a security interest in any assets of the Borrower or any other person providing Security, including:

those incurred in connection with any litigation, arbitration or administrative proceedings or regulatory enquiry concerning any Facility or its application; or

in respect of a breach of, or a failure to meet, any Environmental Obligations.

by letter addressed to the Borrower or any officer of the Borrower sent by first class post to or left at the Borrower’s address last known to the Bank or at the Borrower’s registered office; or

by fax or other electronic means to the Borrower’s last known fax number or electronic mail address.

they will be jointly and individually liable to the Bank for the Facilities and for any other moneys from time to time owing to the Bank in respect of the Facilities;

any notice given to any one of them under the Facility Letter will be notice to all of them;

if at any time any one or more of the provisions of the Facility Letter is or becomes invalid, illegal or unenforceable against any one or more of them, it will remain enforceable against the others as if it had been addressed to only to those others;

the Bank’s rights against any one such person will not be impaired, discharged or otherwise affected by:

the Bank granting any time or indulgence to any of the others;

the Bank varying or releasing any of the others from any liability to the Bank or any Security relating to such liability;

the Bank failing to take any such Security; and/or

any act, event or omission which would, but for these provisions, impair, discharge or otherwise affect any of such rights of the Bank; and

no such person will be entitled without the written consent of the Bank to exercise any right or make any claim against any of the others (including any right of subrogation or right to prove in a liquidation) arising by virtue of any payment made in accordance with the Facility Letter or otherwise in connection with the Facility Letter.

Business Day means a day (other than a Saturday or Sunday) and time on which the relevant banking offices and markets are open for business for the currency and transaction involved and, if the relevant currency is the euro, a day on which the Trans-European Automated Real-time Gross Settlement Express Transfer payment system is open for settlement of payments in euro.

Facility Current Account means the current account of the Borrower with the Bank on which the Facility is run.

No delay or failure by the Bank in exercising any right or remedy will be taken to mean or take effect as a waiver or release of that right or remedy. The Bank will always be entitled to exercise all its rights and remedies unless it has expressly waived them in writing.

If at any time any one or more of the provisions of the Facility Letter is or becomes invalid, illegal or unenforceable in any respect, the validity, legality or enforceability of the remaining provisions of the Facility Letter will not be in any way affected.

If it becomes unlawful for the Bank to perform all or any of its obligations under the Facility Letter, then the Bank will notify the Borrower and:

the Borrower will repay any parts of the Facilities which have been drawn down together with all other amounts due and owing to the Bank; and

any parts of the Facilities that have not been drawn down will be cancelled.

The Bank and the Borrower agree that the terms of the Facility Letter will not be enforceable by virtue of the Contracts (Rights of Third Parties) Act 1999 by any person who is not a party to the Facility Letter.

If the Borrower does not accept the Facility Letter, the Bank may allow drawings under the Facilities and this will be taken to be acceptance of the terms and conditions of the Facility Letter (without amendment).

The Borrower may sign any number of copies of the Facility Letter and these copies, together with the copy or copies signed on behalf of the Bank, will form a single document.

For facilities on accounts held in England, the Facility is governed by and construed in accordance with English law and all claims and disputes (including non-contractual claims and disputes) arising out of or in connection with the Facility or its subject matter, negotiation or formation will be determined in accordance with English law.

The Borrower and the Bank both submit to the non-exclusive jurisdiction of the courts of England and Wales in relation to all claims, disputes, differences or other matters (including non-contractual claims, disputes, differences or other matters) arising out of or in connection with the Facility

The Borrower:

waives any objection to the courts of England including an objection on grounds of inconvenience; and

agrees that a judgment or order of a court of England in connection with the Facility Letter is binding on it and may be enforced against it in the courts of any other jurisdiction.

This Facility may be used for the purpose of spot and forward foreign exchange transactions and for currency options.

The Bank may in its discretion decide whether or not this Facility may be utilised and may specify pre-conditions to such utilisation.

Notwithstanding any non-execution of product documentation:

each foreign exchange utilisation will be deemed to be subject to and will be subject to the terms of IFEMA; and

each currency option utilisation will be deemed to be subject to and will be subject to the terms of ICOM.

If there is any conflict between the terms of the Facility Letter and those of IFEMA or ICOM, the terms of IFEMA or ICOM (as appropriate) will prevail, except in respect of any provisions in this Forward Exchange Contracts and Currency Option Facility Schedule which are expressed to be additional to or in replacement for any relevant IFEMA or ICOM provisions.

Copies of IFEMA and ICOM terms are available from the Bank on request.

Unless there is agreement in writing to the contrary, while this option is in force, the terms of the Facility Letter and particularly the terms of (a) and (b) above will continue to apply notwithstanding any pre-existing product documentation.

Each drawing under these Facilities will be made in accordance with and subject to the Bank’s current practice from time to time. Such practice will be explained on request as drawings are requested.

The Bank may in its discretion decide whether or not a drawing may be made under any of these Facilities and may specify pre-conditions to such drawing.

Without prejudice to the foregoing, the Borrower agrees, acknowledges and authorises that any request for a drawing under the Engagements Facility will require the:

completion of an application form in paper or electronic format and submitted to the Bank by delivery method(s) agreed with the Bank, and, where required by the Bank, following execution of: (A) any agreement(s) for or relating to use of the Bank’s electronic banking services, and/or (B) a fax indemnity (as the case requires); and

provision of a counter-indemnity, either by execution (on a request by request basis) of the counter-indemnity appearing overleaf on paper format application form, or by execution of an omnibus counter-indemnity (at the Borrower’s election, except that the execution of an omnibus counter-indemnity will be mandatory before any application can be submitted using the Bank’s electronic banking services),

The Borrower agrees and authorises that any application form, and all such other documents the Bank may require completed in relation thereto, may be completed, and any issuance instructions may be given, from time to time:

by any persons authorised to instruct the Bank to make payments on behalf of the Borrower, in the amount of the relevant instrument, under the terms of the account mandate provided to the Bank by the Borrower and then current; or

upon receipt of an executed omnibus counter-indemnity supporting applications made from time to time using any of the Bank’s electronic banking services, by any persons authorised or purporting to be authorised to instruct the Bank by electronic means as empowered in accordance with the agreement(s) between the Borrower and the Bank relating to the Borrower’s use of the electronic banking services and that any of such persons be authorised to agree with the Bank through any such electronic banking services the terms and conditions relating to such issued instrument from time to time.

Each drawing under this Facility will be made in accordance with and subject to the Bank’s current practice from time to time. Such practice will be explained on request as drawings are requested.

The Bank may in its discretion decide whether or not a drawing may be made under this Facility and may specify pre-conditions to such drawing.

Without prejudice to the foregoing, the Borrower agrees, acknowledges and authorises that a request for a drawing under this Facility will require completion of an application form in paper or electronic format and submitted to the Bank by delivery method(s) agreed with the Bank, and, where required by the Bank, following execution of: (A) any agreement(s) for or relating to use of the Bank’s electronic banking services, and/or (B) a fax indemnity (as the case requires).

The opening by the Bank of a documentary letter of credit (“Credit”) will constitute a drawing under this Import Option for the full amount of such Credit.

The Borrower agrees and acknowledges that any Credit issued by the Bank shall be subject to the Bank’s terms and conditions applicable from time to time to the issue of a Credit, as set out in the Bank’s preferred form of application form (whether in paper or electronic format).

The Borrower agrees and authorises that any application form, and all such other documents the Bank may require completed in relation thereto, may be completed, and any issuance instructions may be given, from time to time:

by any persons authorised to instruct the Bank to make payments on behalf of the Borrower, in the amount of the relevant instrument, under the terms of the account mandate provided to the Bank by the Borrower and then current; or

by any persons authorised or purporting to be authorised to instruct the Bank by electronic means as empowered in accordance with the agreement(s) between the Borrower and the Bank relating to the Borrower’s use of the electronic banking services and that any of such persons be authorised to agree with the Bank through any such electronic banking services the terms and conditions relating to such issued instrument from time to time.

Within the limit relevant to this Documentary Credit Option drawings may be made up to a maximum of £300,000 (Three hundred thousand pounds) outstanding at any one time to open sight documentary credits where the Bank does not obtain control over the relevant goods via documents of title.

Interest will be debited at the maturity of the relevant loan to the Borrower’s current account with the Bank as nominated for loan repayment in the loan application form.

The General Terms and Conditions attached also apply.

in relation to the Borrower, approving the Facility Letter and authorising a person or persons to accept the Facility Letter; and

approving the Omnibus Counter-Indemnity and authorising a person or persons to sign the Omnibus Counter-Indemnity

approving the Fax Indemnity and authorising a person or persons to sign the Fax Indemnity

approving any Security to be given by the Borrower and each company giving Security and authorising persons to execute that Security.

where the Borrower is required to prepare audited accounts by law, audited individual accounts, or

where the Borrower is not required to prepare audited accounts by law, unaudited individual accounts,

the application of the definition of Subsidiary to any company at any time shall apply to the company as it is at that time; and

references to Subsidiary are references to a Subsidiary of any of the Borrower.

The sterling equivalent (the Sterling Equivalent) of any amount denominated in another currency will be calculated by reference to the Bank’s then prevailing spot selling rate of exchange for the relevant currency of denomination against sterling.

In order to determine compliance or otherwise with the Limits, the aggregate Sterling Equivalents for all drawings outstanding and/or proposed will be calculated at such time as the Bank determines before each drawing is made.

refuse payment of any cheque or other order for payment which would result in the Borrower going over a Limit; and/or

refuse to allow any drawing or other disposal against any credit balance on any of the Borrower’s current accounts with the Bank if, as a result, the Borrower would go over a Limit.

If a drawing is due for repayment on a day when the Borrower is entitled to make a drawing, the Bank may require:

the amount of the drawing to be repaid to be deducted from the amount of the drawing to be made; and

only the difference in the amounts (if any) to be paid to the Borrower.

If the relevant drawings are denominated in different currencies, any difference will be calculated at such time as the Bank determines before the drawing by the Borrower by application of the Bank’s then prevailing spot selling rate of exchange for the currency due to the Bank against the currency to be drawn by the Borrower.

Interest will be calculated on a daily basis and o n the basis that there are 365 days in each year. Interest calculated on this basis will be payable in respect of each of the 365 days in a calendar year (366 in a leap year).

On the dates interest (or any other charge) is debited, interest will become payable on any borrowings created by such debit.

The Bank may, from time to time and at its discretion, change its interest rates. The Bank makes its current interest rates available and gives notice of changes in its interest rates in accordance with the Facility Letter and/or the Business Banking Terms and Conditions.

If the Bank demands repayment of the Facilities or any of them, interest after demand will be charged at the same rates and on the same basis as before demand., except that:

in relation to the Import Line Facility, the Bank reserves the right to charge interest after demand on the Bank’s quarterly charging dates which at present are during March, June, September and December even though the relevant loan may not have matured at the date of such demand.

Interest will be payable on the outstanding amount of the relevant Facility at the rate specified in the Facility Letter calculated on a daily basis and on the basis that there are 360 days in each year. Interest calculated on this basis will be payable in respect of each of the 365 days in a calendar year (366 in a leap year).

Interest will be calculated up to and including the last Business Day of each May and November or upon earlier termination of any relevant Facility and debited in arrears on such day as the Bank determines to the relevant currency account together with any applicable commission charge in accordance with the Bank’s then current tariff.

On the dates interest (or any other charge) is debited, interest will become payable on any borrowings created by such debit.

If the Bank demands repayment of the Facilities or any of them, interest after demand will be charged at the same rates and on the same basis as before demand., except that in relation to the Import Line Facility, the Bank reserves the right to charge interest after demand on the Bank’s quarterly charging dates which at present are during March, June, September and December even though the relevant loan may not have matured at the date of such demand.

If, in the opinion of the Bank, deposits in a currency are not available to the Bank to finance any drawing on the relevant currency account:

such drawing may, at the Bank’s discretion, be re-denominated in such currency as the Bank determines by reference to the Bank’s then prevailing spot selling rate of exchange for the outstanding currency against the currency of re-denomination; and

any re-denominated drawing may also be subject to re-denomination in accordance with (i) above.

Upon any re-denomination, for any reason, the Bank may vary the terms of any relevant Facility relating to notice periods, interest rates, the basis of interest calculations and the value dating of credits received, if, in the opinion of the Bank, these terms are not appropriate for the re-denominated currency.

If the Bank demands repayment, the Bank may at any time re-denominate in sterling any amount due to the Bank at the Bank’s then prevailing spot selling rate of exchange for the relevant outstanding currency against sterling. The provisions of (b) above will remain in force following any such re-denomination.

Any reference to euro means the euro unit as defined in Regulation (EC) No. 1103/97 pronounced by the Council of the European Union and any reference to national currency unit has the meaning given to such expression by such Regulation, namely a unit of the currency of a participating Member State, as that unit is defined on the day before the start of the third stage of Economic and Monetary Union.

The Bank will not be under any obligation to accept any instructions, receive or make any payment or carry out any other transaction denominated in the euro or in any national currency unit on a day on which the Bank is not normally open for general business in the relevant jurisdiction where such transactions are to be received or carried out, whether or not such a day is a Business Day for transactions in the euro or the relevant national currency unit.

All payments by the Borrower will be made in cleared funds in the currency in which the payment is due on a Business Day on the due date for payment or, if that day is not a Business Day, on the next succeeding Business Day.

All payments will be made without any deduction or withholding (whether in respect of set-off, counterclaim, duties, taxes, charges or otherwise).

If the Borrower is required by law to make any deduction or withholding from a payment, it will promptly pay to the Bank such additional sums as will make the net sum received by the Bank equal to the full sum payable had there been no deduction or withholding.

The Borrower will pay to the Bank the amount of all costs and expenses (including any legal, security and valuation fees), stamp duty, taxes and other charges and registration costs incurred or charged by the Bank in connection with:

the negotiation, preparation, administration, amendment, variation or supervision of the Facilities, the Facility Letter and/or any Security; and

the enforcement of or the preservation of any rights under the Facility Letter and/or any Security and any proceedings instituted by or against the Bank as a consequence of taking or holding the Security or enforcing these rights.

the application of any Facility or any part of it by the Borrower; and/or

the provision of any Facility or any other banking facilities by the Bank to the Borrower; and/or

the Bank having a security interest in any assets of the Borrower or any other person providing Security, including:

those incurred in connection with any litigation, arbitration or administrative proceedings or regulatory enquiry concerning any Facility or its application; or

in respect of a breach of, or a failure to meet, any Environmental Obligations.

by letter addressed to the Borrower or any officer of the Borrower sent by first class post to or left at the Borrower’s address last known to the Bank or at the Borrower’s registered office; or

by fax or other electronic means to the Borrower’s last known fax number or electronic mail address.

they will be jointly and individually liable to the Bank for the Facilities and for any other moneys from time to time owing to the Bank in respect of the Facilities;

any notice given to any one of them under the Facility Letter will be notice to all of them;

if at any time any one or more of the provisions of the Facility Letter is or becomes invalid, illegal or unenforceable against any one or more of them, it will remain enforceable against the others as if it had been addressed to only to those others;

the Bank’s rights against any one such person will not be impaired, discharged or otherwise affected by:

the Bank granting any time or indulgence to any of the others;

the Bank varying or releasing any of the others from any liability to the Bank or any Security relating to such liability;

the Bank failing to take any such Security; and/or

any act, event or omission which would, but for these provisions, impair, discharge or otherwise affect any of such rights of the Bank; and

no such person will be entitled without the written consent of the Bank to exercise any right or make any claim against any of the others (including any right of subrogation or right to prove in a liquidation) arising by virtue of any payment made in accordance with the Facility Letter or otherwise in connection with the Facility Letter.

Business Day means a day (other than a Saturday or Sunday) and time on which the relevant banking offices and markets are open for business for the currency and transaction involved and, if the relevant currency is the euro, a day on which the Trans-European Automated Real-time Gross Settlement Express Transfer payment system is open for settlement of payments in euro.

Facility Current Account means the current account of the Borrower with the Bank on which the Facility is run.

No delay or failure by the Bank in exercising any right or remedy will be taken to mean or take effect as a waiver or release of that right or remedy. The Bank will always be entitled to exercise all its rights and remedies unless it has expressly waived them in writing.

If at any time any one or more of the provisions of the Facility Letter is or becomes invalid, illegal or unenforceable in any respect, the validity, legality or enforceability of the remaining provisions of the Facility Letter will not be in any way affected.

If it becomes unlawful for the Bank to perform all or any of its obligations under the Facility Letter, then the Bank will notify the Borrower and:

the Borrower will repay any parts of the Facilities which have been drawn down together with all other amounts due and owing to the Bank; and

any parts of the Facilities that have not been drawn down will be cancelled.

The Bank and the Borrower agree that the terms of the Facility Letter will not be enforceable by virtue of the Contracts (Rights of Third Parties) Act 1999 by any person who is not a party to the Facility Letter.

If the Borrower does not accept the Facility Letter, the Bank may allow drawings under the Facilities and this will be taken to be acceptance of the terms and conditions of the Facility Letter (without amendment).

The Borrower may sign any number of copies of the Facility Letter and these copies, together with the copy or copies signed on behalf of the Bank, will form a single document.

For facilities on accounts held in England, the Facility is governed by and construed in accordance with English law and all claims and disputes (including non-contractual claims and disputes) arising out of or in connection with the Facility or its subject matter, negotiation or formation will be determined in accordance with English law.

The Borrower and the Bank both submit to the non-exclusive jurisdiction of the courts of England and Wales in relation to all claims, disputes, differences or other matters (including non-contractual claims, disputes, differences or other matters) arising out of or in connection with the Facility

The Borrower:

waives any objection to the courts of England including an objection on grounds of inconvenience; and

agrees that a judgment or order of a court of England in connection with the Facility Letter is binding on it and may be enforced against it in the courts of any other jurisdiction.