Common use of Notice of redemption of the Notes Clause in Contracts

Notice of redemption of the Notes. The Security Trustee will notify Party A promptly following it giving or receiving any notice (including any Note Acceleration Notice) in connection with a transfer, purchase or redemption of all of the Series [2/4] Class [A/B/M[/C]] Fourth Issuer Notes by the issuer.]/2/ ---------- /2/ Subject to approval of Security Trustee. 40 DRAFT (1): 26.02.04 SERIES 2 CLASS A CONFIRMATION From: Citibank, N.A., acting through its London Office Citigroup Centre Canada Square London E14 5LB To: Permanent Financing (No. 4) PLC ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇ Attention: The Secretary To: ▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇ Attention: Global Structured Finance - Corporate Trust {circle}, 2004 Dear Sirs, The purpose of this letter is to confirm the terms and conditions of the Swap Transaction entered into between us on the Trade Date specified below. This letter constitutes a "CONFIRMATION" as referred to in the 1992 ISDA Master Agreement (Multicurrency-Cross Border) (Series 2 Class A) entered into between us, you and The Bank of New York (the "SECURITY TRUSTEE") dated as of {circle}, 2004, as amended and supplemented from time to time (the "AGREEMENT"). The definitions and provisions contained in the 2000 ISDA Definitions as published by the International Swaps and Derivatives Association, Inc. (the "DEFINITIONS") are incorporated into this Confirmation. In the event of any inconsistency between any of the following, the first listed will govern (i) this Confirmation; (ii) the Master Definitions Schedule; and (iii) the Definitions. 1. The terms of the particular Swap Transaction to which this Confirmation relates are as follows: Party A: Citibank, N.A., acting through its London Office Party B: Permanent Financing (No. 4) PLC Trade Date: {circle}, 2004 Effective Date: {circle}, 2004 Termination Date: The earlier of the Quarterly Interest Payment Date falling in {circle} and the date on which all of the Series 2 Class A Fourth Issuer Notes are redeemed in full.

Notice of redemption of the Notes. The Security Trustee will notify Party A promptly following it giving or receiving any notice (including any Note Acceleration Notice) in connection with a transfer, purchase or redemption of all of the Series [2/4] Class [A/B/M[/C]] Fourth Issuer Notes by the issuer.]/2/ ---------- /2/ Subject to approval of Security Trustee. 40 DRAFT (1): 26.02.04 SERIES 2 CLASS A B CONFIRMATION From: Citibank, N.A., acting through its London Office Citigroup Centre Canada Square London E14 5LB To: Permanent Financing (No. 4) PLC ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇ Attention: The Secretary To: ▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇ Attention: Global Structured Finance - Corporate Trust {circle}, 2004 Dear Sirs, CONFIRMATION - SERIES 2 CLASS B DOLLAR TO STERLING CURRENCY SWAP The purpose of this letter is to confirm the terms and conditions of the Swap Transaction entered into between us on the Trade Date specified below. This letter constitutes a "CONFIRMATION" as referred to in the 1992 ISDA Master Agreement (Multicurrency-Cross Border) (Series 2 Class AB) entered into between us, you and The Bank of New York (the "SECURITY TRUSTEE") dated as of {circle}, 2004, as amended and supplemented from time to time (the "AGREEMENT"). The definitions and provisions contained in the 2000 ISDA Definitions as published by the International Swaps and Derivatives Association, Inc. (the "DEFINITIONS") are incorporated into this Confirmation. In the event of any inconsistency between any of the following, the first listed will govern (i) this Confirmation; (ii) the Master Definitions Schedule; and (iii) the Definitions. 1. The terms of the particular Swap Transaction to which this Confirmation relates are as follows: Party A: Citibank, N.A., acting through its London Office Party B: Permanent Financing (No. 4) PLC Trade Date: {circle}, 2004 Effective Date: {circle}, 2004 Termination Date: The earlier of the Quarterly Interest Payment Date falling in {circle} and the date on which all of the Series 2 Class A Fourth Issuer Notes are redeemed in full.2004

Notice of redemption of the Notes. The Security Trustee will notify Party A promptly following it giving or receiving any notice (including any Note Acceleration Notice) in connection with a transfer, purchase or redemption of all of the Series [2/4] Class [A/B/M[/C]] Fourth Issuer Notes by the issuer.]/2/ ---------- /2/ Subject to approval of Security Trustee. 40 DRAFT (1): 26.02.04 SERIES 2 CLASS A C CONFIRMATION From: Citibank, N.A., acting through its London Office Citigroup Centre Canada Square London E14 5LB To: Permanent Financing (No. 4) PLC ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇ Attention: The Secretary To: ▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇ Attention: Global Structured Finance - Corporate Trust {circle}, 2004 Dear Sirs, CONFIRMATION - SERIES 2 CLASS C DOLLAR TO STERLING CURRENCY SWAP The purpose of this letter is to confirm the terms and conditions of the Swap Transaction entered into between us on the Trade Date specified below. This letter constitutes a "CONFIRMATION" as referred to in the 1992 ISDA Master Agreement (Multicurrency-Cross Border) (Series 2 Class AC) entered into between us, you and The Bank of New York (the "SECURITY TRUSTEE") dated as of {circle}, 2004, as amended and supplemented from time to time (the "AGREEMENT"). The definitions and provisions contained in the 2000 ISDA Definitions as published by the International Swaps and Derivatives Association, Inc. (the "DEFINITIONS") are incorporated into this Confirmation. In the event of any inconsistency between any of the following, the first listed will govern (i) this Confirmation; (ii) the Master Definitions Schedule; and (iii) the Definitions. 1. The terms of the particular Swap Transaction to which this Confirmation relates are as follows: Party A: Citibank, N.A., acting through its London Office Party B: Permanent Financing (No. 4) PLC Trade Date: {circle}, 2004 Effective Date: {circle}, 2004 Termination Date: The earlier of the Quarterly Interest Payment Date falling in {circle} and the date on which all of the Series 2 Class A Fourth Issuer Notes are redeemed in full.2004

Notice of redemption of the Notes. The Security Trustee will notify Party A promptly following it giving or receiving any notice (including any Note Acceleration Notice) in connection with a transfer, purchase or redemption of all of the Series [2/4] Class [A/B/M[/C]] Fourth Issuer Notes by the issuer.]/2/ ---------- /2/ Subject to approval of Security Trustee. 40 DRAFT (1): 26.02.04 SERIES 2 CLASS A M CONFIRMATION From: Citibank, N.A., acting through its London Office Citigroup Centre Canada Square London E14 5LB To: Permanent Financing (No. 4) PLC ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇ Attention: The Secretary To: ▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇ Attention: Global Structured Finance - Corporate Trust {circle}, 2004 Dear Sirs, CONFIRMATION - SERIES 2 CLASS M DOLLAR TO STERLING CURRENCY SWAP The purpose of this letter is to confirm the terms and conditions of the Swap Transaction entered into between us on the Trade Date specified below. This letter constitutes a "CONFIRMATION" as referred to in the 1992 ISDA Master Agreement (Multicurrency-Cross Border) (Series 2 Class AM) entered into between us, you and The Bank of New York (the "SECURITY TRUSTEE") dated as of {circle}, 2004, as amended and supplemented from time to time (the "AGREEMENT"). The definitions and provisions contained in the 2000 ISDA Definitions as published by the International Swaps and Derivatives Association, Inc. (the "DEFINITIONS") are incorporated into this Confirmation. In the event of any inconsistency between any of the following, the first listed will govern (i) this Confirmation; (ii) the Master Definitions Schedule; and (iii) the Definitions. 1. The terms of the particular Swap Transaction to which this Confirmation relates are as follows: Party A: Citibank, N.A., acting through its London Office Party B: Permanent Financing (No. 4) PLC Trade Date: {circle}, 2004 Effective Date: {circle}, 2004 Termination Date: The earlier of the Quarterly Interest Payment Date falling in {circle} and the date on which all of the Series 2 Class A Fourth Issuer Notes are redeemed in full.2004