Common use of Notification of late payment Clause in Contracts

Notification of late payment. The Principal Paying Agent shall as soon as reasonably practicable notify in writing each of the other Paying Agents, the Issuer and the Trustee if at any time following the giving of a notice by the Principal Paying Agent under Clause 5.3 either any payment provided for in Clause 5.1 is made after its due date but otherwise in accordance with this Agreement or the Principal Paying Agent is satisfied that it will receive such payment. In such circumstances, the Principal Paying Agent and each Agent shall nevertheless make payments in respect of the Notes as aforesaid following receipt by it of such payment in cleared and identified funds.