(v) paragraph I I of the Agreement (lax Event) shall not apply to any Transaction by
virtue of any Italian Bonds ceasing to be Securities in respect of which a deduction or
withholding on account of Italian tax is required to be made in respect of a payment
of Income to such an owner as is referred to in subparagraph (i) above.
the
(b) For the purposes of this paragraph Italian Bonds- means any Securities which are issued by
Italian government or local authorities (or the Securities which for Italian tax purposes are treated
1st
likewise) or by other entities and to which the provisions of Legislative Decree no. 239 of
April, 1996. as amended, granting a special tax treatment will apply.
42
Confidential
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0037621
CONFIDENTIAL SDNY_GM_00183805
EFTA01353298