Common use of Confirmation of Payment Instructions Clause in Contracts

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.