Common use of Medium term note settlement procedures Clause in Contracts

Medium term note settlement procedures. in the case of a Tranche of Notes which is not syndicated among two or more Dealers but which is intended to be cleared through a clearing system, on the Local Banking Day immediately preceding its Issue Date deliver the Global Note to the relevant depositary for Euroclear and/or Clearstream, Luxembourg or to the relevant depositary for such other clearing system as shall have been agreed between the Relevant Issuer and the Fiscal Agent or, as the case may be, the Registrar and instruct the clearing systems to whom (or to whose depositary) such Global Note has been delivered, to credit the underlying Notes represented by such Global Note to the securities account(s) at such clearing systems that have been notified to the Fiscal Agent or, as the case may be, the Registrar by the Relevant Issuer, on a delivery against payment basis or, if specifically agreed between them, on a delivery free of payment basis; and