Company: LLOBF
Filing Date: 2025-06-10
Form Type: 424B2
Source: 0000950103-25-007181
Chunk: 59

Company: Lloyds Banking Group plc
Filing Date: 2025-06-10
Form: 424B2
Chunk 59
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 any date on which the principal of, or any
interest on, the Senior Notes of such series would have otherwise been payable by LBG.

Notwithstanding any contrary provisions, nothing
shall impair the right of a holder, absent the holder’s consent, to sue for any payments due but unpaid with respect to such series
of Senior Notes.

General

The holder or holders of not less than a majority
in aggregate principal amount of the outstanding Senior Notes may waive any past Senior Notes Event of Default or Senior Notes Default
in respect of such series, except a Senior Notes Event of Default or Senior Notes Default in respect of the payment of interest, if any,
or principal of (or premium, if any) or payments on any Senior Note of such series or a covenant or provision of the Senior Indenture
which cannot be modified or amended without the consent of each holder of the Senior Notes of such series.

Subject to the provisions of the Senior Indenture
relating to the duties of the Trustee, if a Senior Notes Event of Default or a Senior Notes Default occurs, the Trustee will be under
no obligation to take direction from any holder or holders of such series of Senior Notes, unless they have offered reasonable indemnity
to the Trustee. Subject to the Senior Indenture provisions for the indemnification of the Trustee, the holder or holders of a majority
in aggregate principal amount of the outstanding Senior Notes of such series shall have the right to direct the time, method and place
of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee, if the
direction is not in conflict with any rule of law or with the Senior Indenture and does not expose the Trustee to undue risk and the action
would not be unjustly prejudicial to the holder or holders of the Senior Notes not taking part in that direction. The Trustee may take
any other action that it deems proper which is not inconsistent with that direction.

The Senior Indenture provides that the Trustee
will, within 90 days after the occurrence of a Senior Notes Event of Default or a Senior Notes Default, give to each holder of a series
of Senior Notes notice of the Senior Notes Event of Default or Senior Notes Default known to it, unless the Senior Notes Event of Default
or Senior Notes Default, has been cured or waived in respect of such series. However, the Trustee shall be protected in withholding notice
if it determines in good faith that