Company: LLOBF
Filing Date: 2025-10-28
Form Type: 424B2
Source: 0000950103-25-013683
Chunk: 94

Company: Lloyds Banking Group plc
Filing Date: 2025-10-28
Form: 424B2
Chunk 94
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) and that breach has not been remedied within 60 days of receipt of a written notice from (i) the trustee       
 certifying that in its opinion the breach is materially prejudicial to the interests of the holders of the senior debt securities of that    
 series and requiring the breach to be remedied or (ii) holders of at least 25% in outstanding principal amount of the senior debt securities 
 of that series requiring the breach to be remedied; or                                                                                       |

| · | either a court of competent jurisdiction issues an order which is not successfully appealed within 30 days, or an effective shareholders’ 
 resolution is validly adopted, for the winding-up of LBG (other than under or in connection with a scheme of reconstruction, merger or    
 amalgamation not involving bankruptcy or insolvency).                                                                                     |

If a Senior Debt Security Event of Default occurs
and is continuing, the trustee or the holders of at least 25% in aggregate principal amount of the senior outstanding debt securities
of that series may at their discretion declare the outstanding senior debt securities of that series to be due and repayable immediately
(and the senior debt securities of that series shall thereby become due and repayable) at their principal amount (or at such other repayment
amount as may be specified in or determined in accordance with the relevant prospectus supplement and in the case of original issue discount
securities, the accreted face amount) together with accrued interest, if any, as provided in the prospectus supplement. However, after
such declaration but before the trustee obtains a judgment or decree for payment of money due, the holder or holders of a majority in
aggregate principal amount of the outstanding senior debt securities of the series may rescind or annul the declaration of acceleration
and its consequences, but only if all Senior Debt Security Events of Default have been cured or waived and all payments due, other than
those due as a result of acceleration, have been made. The trustee may at its discretion and without further notice institute such proceedings
as it may think suitable, against LBG to enforce payment. 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 the senior debt securities.

Unless the relevant prospectus supplement provides
otherwise, by accepting a senior debt security, each holder will be deemed to have waived any right of set-off, counterclaim or combination
of accounts with respect to the senior debt securities or the applicable indenture that