Common use of Application by Paying Agents Clause in Contracts

Application by Paying Agents. The Paying Agents shall apply (or direct or cause the application of) each amount paid to them under this Clause 7 (Payments to the Paying Agents) in accordance with Clause 8 (Payments to Noteholders) and shall not be obliged to repay any such amount other than as provided herein or unless the claim for the relevant payment becomes void under the Issuer Conditions in which event they shall repay to the Master Issuer such portion of such amount as relates to such payment, by paying the same by credit transfer in the relevant currency to such account with such bank as the Master Issuer has by notice to the Paying Agents specified for the purpose.

Application by Paying Agents. The Paying Agents shall apply (or direct or cause the application of) each amount paid to them under this Clause 7 (Payments to the Paying Agents) in accordance with Clause 8 (Payments to Noteholders) and shall not be obliged to repay any such amount other than as provided herein in this Agreement or unless the claim for the relevant payment becomes void under the Issuer Conditions in which event they shall repay to the Master Issuer such portion of such amount as relates to such payment, by paying the same by credit transfer in the relevant currency Note Currency as the case may be, to such account with such bank as the Master Issuer has by notice to the Paying Agents specified for the purpose.

Application by Paying Agents. The Paying Agents shall apply (or direct or cause the application of) each amount paid to them under this Clause 7 (Payments to the Paying Agents) in accordance with Clause 8 (Payments to NoteholdersNoteholders and Residual Certificateholders) and shall not be obliged to repay any such amount other than as provided herein in this Agreement or unless the claim for the relevant payment becomes void under the Issuer Conditions and the Residual Certificates Conditions in which event they shall repay to the Master Issuer such portion of such amount as relates to such payment, by paying the same by credit transfer in the relevant currency transfer, to such account with such bank as the Master Issuer has by notice to the Paying Agents specified for the purpose.

Application by Paying Agents. The Paying Agents shall apply (or direct or cause the application of) each amount paid to them under this Clause 7 (Payments to the Paying Agents) in accordance with Clause 8 (Payments to Noteholders) and shall not be obliged to repay any such amount other than as provided herein in this Agreement or unless the claim for the relevant payment becomes void under the Issuer Conditions in which event they shall repay to the Master Issuer such portion of such amount as relates to such payment, by paying the same by credit transfer in the relevant currency Note Currency, as the case may be, to such account with such bank as the Master Issuer has by notice to the Paying Agents specified for the purpose.