Common use of Notification of Non-payment Clause in Contracts

Notification of Non-payment. The Fiscal Agent shall forthwith notify by email each of the other Agents and the Issuer if it has not received the amount referred to in clause 4.1 (Issuer to Pay the Fiscal Agent) by the time specified for its receipt, unless it is satisfied that it will receive such amount. If any payment provided for by clause 4.1 (Issuer to Pay the Fiscal Agent) is made late but otherwise under the terms of this Agreement, the Agents shall nevertheless act as Agents. However, (i) unless and until the full amount of any payment has been made to the Fiscal Agent in accordance with clause 4.1 (Issuer to Pay the Fiscal Agent) or (ii) unless and until the Fiscal Agent is satisfied that such payment will be made, neither it nor any of the Agents shall be bound to make payments in respect of the Bonds as aforesaid.