Company: LLOBF
Filing Date: 2025-10-28
Form Type: 424B2
Source: 0000950103-25-013729
Chunk: 185

Company: Lloyds Banking Group plc
Filing Date: 2025-10-28
Form: 424B2
Chunk 185
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 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 LBG 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, LBG delivers a written opinion of legal   
 advisors, who may be an employee of, or legal advisors for, LBG 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 LBG require LBG 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 LBG 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 LBG 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;     |

| · | LBG 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 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                                                                                       |