Noteholder Notice
01 August 2009 - 1:35AM
UK Regulatory
TIDM92MN TIDM92MN TIDM92MO
31 July 2009
Leek Finance Number Twenty Two PLC
10 Upper Bank Street
London E14 5JJ
(the Issuer)
To the Noteholders of:
GBP395,800,000 Class A Mortgage Backed Floating Rate Notes
due 2050
Regulation S ISIN Number XS0410170079
Regulation S Common Code 041017007
GBP105,200,000 Class B Mortgage Backed Floating Rate Notes
due 2050
Regulation S ISIN Number XS0410170152
Regulation S Common Code 041017015
Terms used but not defined in this notice bear the same meaning as set out
in the Master Framework Agreement made between, inter alios, the Issuer and
the Trustee dated 27 January 2009.
NOTICE IS HEREBY GIVEN TO THE NOTEHOLDERS that on 1 August 2009 (the
Vesting Date) Britannia Building Society (Britannia) will transfer all of
its engagements to the Co-operative Bank p.l.c (the Co-op) pursuant to
sections 97-102D of the Building Societies Act 1986, as modified by an
order made by HM Treasury under section 3 of the Building Societies
(Funding) and Mutual Societies (Transfers) Act 2007, and Britannia will
cease to exist. On and from the Vesting Date, Britannia's obligations under
the Transaction Documents to which it is a party will pass to the Co-op.
The Trustee has exercised its right under clause 15.1(a) of the Trust Deed
to concur with the Issuer and the other relevant parties in the
modification of the Britannia GIC Agreement to reflect the fact that on and
from the Vesting Date, Britannia's obligations will be subsumed by a bank.
Leek Finance Number Twenty Two PLC
END
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