Confirmation of Payment Instructions Clause Samples
The 'Confirmation of Payment Instructions' clause establishes the requirement for parties to verify and confirm the details of payment instructions before any funds are transferred. In practice, this means that the recipient must provide accurate banking information, and the payer must confirm these details—often in writing or through a secure process—prior to initiating payment. This clause helps prevent errors or fraud by ensuring that payments are sent to the correct account, thereby reducing the risk of misdirected funds and disputes over payment fulfillment.
Confirmation of Payment Instructions. The Account Bank agrees that it will, not later than 12:00 p.m. (London time) on the second London Business Day prior to the date upon which any payment is due to be made from the Funding (Current Issuer) GIC Account, confirm to the Cash Manager (provided that such is the case) that it has received irrevocable instructions to effect payment and specifying the amount of the payment to be made and that, subject to receipt of funds, it will effect such payment.
Confirmation of Payment Instructions. The Issuer shall ensure that, no later than 10.00 a.m. (Paris time) on the second Paris Business Day prior to any Interest Payment Date or Instalment Date for, or the maturity or other redemption date of, any Note, the bank through which the Issuer is to make such payment shall irrevocably confirm to the Principal Paying Agent by authenticated SWIFT message that it will make such payment.
Confirmation of Payment Instructions. The VM Mortgages Trustee Account Bank agrees that it will in relation to an irrevocable instruction received by written request (including by email), ensure upon request that the Trust Property Cash Manager receives a written confirmation (including by email) when payment amounts are debited from the VM Mortgages Trustee Account.
Confirmation of Payment Instructions. The VM Issuer Account Bank agrees that it will in relation to an irrevocable instruction received by written request (including by email), ensure upon request that the Issuer Cash Manager receives a written confirmation (including by email) when payment amounts are debited from the VM Issuer Account.
Confirmation of Payment Instructions. The Current Issuer Account Bank agrees that it will, not later than 12:00 p.m. (London time) on the second London Business Day prior to (a) the date upon which any payment is due to be made from any Current Issuer Transaction Account and (b) each Payment Date or Interest Payment Date, confirm to the Current Issuer Cash Manager (provided that such is the case) that it has received irrevocable instructions to effect payment on the relevant date or Payment Date or Interest Payment Date, as applicable, and specifying the amount of the payment to be made and that, subject to receipt of funds, it will effect such payment on or before the relevant date or Payment Date or Interest Payment Date, as applicable.
Confirmation of Payment Instructions. The First Mortgages Trustee Account Bank agrees that it will in relation to an irrevocable instruction received by Electronic Instruction, ensure that the Trust Property Cash Manager receives a SWIFT confirmation when payment amounts are debited from the First Mortgages Trustee Transaction Account.
Confirmation of Payment Instructions. The Principal Paying Agent shall notify the Trustee, as soon as practicable if it has not received confirmation of the relevant payment instructions referred to in Clause 6.2 (Manner and time of payment), and the Principal Paying Agent shall also forthwith notify the Issuer and the other Paying Agents. If the Principal Paying Agent subsequently receives confirmation of such payment instructions, it shall forthwith notify the Issuer, the Trustee and the other Paying Agents.
Confirmation of Payment Instructions. The Second Mortgages Trustee Account Bank agrees that it will in relation to an irrevocable instruction received by Electronic Instruction, ensure that the Trust Property Cash Manager receives a SWIFT confirmation when payment amounts are debited from the Second Mortgages Trustee Transaction Account.
Confirmation of Payment Instructions. The Issuer shall, before 10.00 a.m. (local time in the city of the Issuing and Paying Agent’s specified office) on the second Business Day before the due date of each payment by it under clause 5.1 procure that the bank effecting payment for it confirms by tested telex or authenticated SWIFT message to the Issuing and Paying Agent the payment instructions relating to such payment.
Confirmation of Payment Instructions. The Issuer, failing whom the Guarantor, shall ensure that, no later than 10.00 a.m. (Luxembourg time) on the second Business Day prior to any Interest Payment Date for, or the Maturity or other redemption Date of, any Note, the bank through which the Issuer is to make such payment shall confirm to the relevant Principal Paying Agent by telex, fax or SWIFT message that it will make such payment.