Company: LLOBF
Filing Date: 2025-06-06
Form Type: F-3ASR
Source: 0000950103-25-007096
Chunk: 75

Company: Lloyds Banking Group plc
Filing Date: 2025-06-06
Form: F-3ASR
Chunk 75
---
 of the above requirements. |

Events of Default; Default; Limitation of Remedies

Senior Debt Security Event of Default

Unless the relevant prospectus supplement provides
otherwise, a “Senior Debt Security Event of Default” with respect to any series of senior debt securities shall result if:

| · | Lloyds Bank does not pay any principal or interest on any senior debt securities of that series within 14 days from the due date for           
 payment and the principal or interest has not been duly paid within 14 days following written notice from the trustee or from holders          
 of 25% in aggregate principal amount of the outstanding senior debt securities of that series to Lloyds Bank requiring the payment to          
 be made. It shall not, however, be a Senior Debt Security Event of Default if during the 14 days after the notice, Lloyds Bank delivers        
 a written opinion of legal advisors, who may be an employee of, or legal advisors for, Lloyds Bank or other legal advisors, to the trustee,    
 such opinion to be acceptable to the trustee (“Opinion of Counsel”), concluding that such sums were not paid in order to comply                
 with a law, regulation or order of any court of competent jurisdiction; provided however, that the trustee may by notice to Lloyds Bank        
 require Lloyds Bank to take such action (including but not limited to proceedings for a declaration by a court of competent jurisdiction)      
 as the trustee may be advised in an Opinion of Counsel, upon which opinion the trustee may conclusively rely, is appropriate and reasonable    
 in the circumstances to resolve such doubt, in which case Lloyds Bank will forthwith take and expeditiously proceed with such action and       
 will be bound by any final resolution of the doubt resulting therefrom. If any such action results in a determination that the relevant        
 payment can be made without violating any applicable law, regulation or order, then such payment will become due and payable on the expiration 
 of 14 days after the trustee gives written notice to Lloyds Bank informing it of such resolution. The foregoing shall not otherwise be         
 deemed to impair the right of any holder to receive payment of the principal of and interest on any such security or to institute suit         
 for the enforcement of any such payment;                                                                                                       |

| · | Lloyds Bank defaults in the performance or breaches, any covenant or warranty of the senior debt indenture (other than as stated above                                                              
 with respect to payments when due) and that breach has not been remedied within 60