Hmm... Okay.. It's shown below, but there's no <%URL%> here either.
<div id="l<%ID%>" class="linklisting">
<h4 class="linktitle">
<%if detailed_url and isValidated eq 'Yes'%><a href="<%detailed_url%>"><%elsif URL ne 'http://' and isValidated eq 'Yes'%><a href="<%config.db_cgi_url%>/jump.cgi?ID=<%ID%>"><%endif%><%if highlight%><%Links::Tools::highlight($Title, $query)%><%else%><%Title%><%endif%><%if isValidated eq 'Yes'%><%if detailed_url or URL ne 'http://'%></a><%endif%><%endif%>
<%if isNew%><span class="new-item"><span>new</span></span><%endif%>
<%if isChanged%><span class="updated-item"><span>updated</span></span><%endif%>
<%if isPopular%><span class="popular-item"><span>popular</span></span><%endif%>
<%~if paymentsEnabled%>
<%if isUnpaid%><span class="unpaid-item"><span>unpaid</span></span><%endif%>
<%if isExpired%><span class="expired-item"><span>expired</span></span><%endif%>
<%if isFree%><span class="free-item"><span>free</span></span><%endif%>
<%~endif%>
</h4>
<%if URL ne 'http://'%><p class="linkurl"><%if isValidated eq 'Yes'%><a href="<%config.db_cgi_url%>/jump.cgi?ID=<%ID%>"><%endif%><%if highlight%><%set equery = escape_html $query%><%set eURL = escape_html $URL%><%Links::Tools::highlight($eURL, $equery)%><%else%><%escape_html URL%><%endif%><%if isValidated eq 'Yes'%></a><%endif%></p><%endif%>
<p class="linkrating">
<%~if Votes%>
<%~set intRating = $Rating i/ 1%>
<img src="<%Links::Utils::image_url("stars-10-${intRating}.gif")%>" alt="<%intRating%> out of 10 stars" title="<%intRating%> out of 10 stars" /> (<%Votes%> vote<%if Votes != 1%>s<%endif%>)
<%~endif%>
<%~if paymentsEnabled and ExpiryDateFormatted and wasPaid%>
<%if isNotify or isExpired%><span class="linkexpired"><%endif%><%if isExpired%>Expired on:<%else%>Expiry date:<%endif%> <%ExpiryDateFormatted%><%if isNotify or isExpired%></span><%endif%>
<%~endif%>
</p>
<%if Description%><div class="linkdescription"><%if highlight%><%Links::Tools::highlight($Description, $query)%><%else%><%Description%><%endif%></div><%endif%>
<p class="linkactions">
<%~if isValidated eq Yes%>
<%if Review_Count%><a href="<%config.db_cgi_url%>/review.cgi?ID=<%ID%>">Read <%Review_Count%> Review<%if Review_Count != 1%>s<%endif%></a><%endif%>
<a href="<%config.db_cgi_url%>/review.cgi?ID=<%ID%>;add_review=1">Review It</a>
<a href="<%config.db_cgi_url%>/rate.cgi?ID=<%ID%>">Rate It</a>
<%if config.bookmark_enabled%><a href="<%config.db_cgi_url%>/bookmark.cgi?action=link_add;ID=<%ID%>">Bookmark It</a><%endif%>
<%if not isExpired and not isUnpaid%>
<%if isLinkOwner or not config.user_required%><a href="<%config.db_cgi_url%>/modify.cgi?LinkID=<%ID%>">Edit this link</a><%endif%>
<%endif%>
<%~endif%>
<%if paymentsEnabled%><a href="<%config.db_cgi_url%>/modify.cgi?do=payment_linked;process_payment=1;modify=1;ID=<%ID%>"><%if not wasPaid%>New Payment<%else%>Renewal Payment<%endif%></a><%endif%>
</p>
</div>
