Payment to the Fiscal Agent Sample Clauses
The 'Payment to the Fiscal Agent' clause designates a specific third party, known as the fiscal agent, to receive payments on behalf of one or more parties involved in an agreement. In practice, this means that instead of sending funds directly to the beneficiary, payments are routed through the fiscal agent, who then manages, distributes, or accounts for the funds as required by the contract. This arrangement is commonly used in financial transactions, bond issuances, or large projects to centralize payment processing and ensure proper oversight. The core function of this clause is to streamline payment administration and provide an additional layer of accountability and transparency in the handling of funds.
Payment to the Fiscal Agent. The Issuer shall, on each date on which any payment in respect of the Notes becomes due, transfer to the Fiscal Agent such amount as may be required for the purposes of such payment. In this Clause, the date on which a payment in respect of the Notes becomes due means the first date on which the holder of a Note, Receipt or Coupon could claim the relevant payment by transfer to an account under the Conditions, but disregarding the necessity for it to be a business day in any particular place of presentation.
Payment to the Fiscal Agent. 4.1 The Issuer or, failing the Issuer, the Guarantor shall, by no later than 10.00 a.m. (London time) on the day on which any payment of principal, premium and/or interest in respect of any of the Notes becomes due under the Conditions, transfer to an account specified by the Fiscal Agent such amount of EUR as shall be sufficient for the purposes of such payment of principal, premium and/or interest in immediately available funds.
4.2 The Issuer or, as the case may be, the Guarantor shall ensure that, before 10.00 a.m. (London time) on the second Business Day prior to each day on which any payment is to be made to the Fiscal Agent under clause 4.1, the Fiscal Agent shall receive a copy of an irrevocable payment instruction to the bank through which the payment is to be made. For the purposes of this clause 4.2, Business Day means a day on which commercial banks and foreign exchange markets settle payments and are open for general business in the United States of America and United Kingdom.
4.3 Subject to the Fiscal Agent being satisfied in its sole discretion that payment will be duly made as provided in clause 4.1, the Fiscal Agent or the relevant Paying Agent shall pay or cause to be paid all amounts due in respect of the Notes on behalf of the Issuer in the manner provided in the Conditions. If any payment provided for in clause 4.1 is made late but otherwise in accordance with the provisions of this Agreement, the Fiscal Agent and each Paying Agent shall nevertheless make payments in respect of the Notes as aforesaid following receipt by it of such payment.
4.4 Notwithstanding any other provision of this Agreement, each Paying Agent shall be entitled to make a withholding or deduction from any payment which it makes under the Notes for or on account of any Tax, if and only to the extent so required by Applicable Law, in which event such Paying Agent shall make such payment after such withholding or deduction has been made and shall account to the relevant Authority within the time allowed for the amount so withheld or deducted or, at its option, shall reasonably promptly after making such payment return to the Issuer the amount so deducted or withheld, in which case, the Issuer shall so account to the relevant Authority for such amount. For the avoidance of doubt, FATCA Withholding is a deduction or withholding which is deemed to be required by Applicable Law for the purposes of this clause 4. In this clause 4.4 and clauses 4.5 and 18.11, Applicable La...
Payment to the Fiscal Agent. The Issuer, by no later than 8.00 PM CET on the date preceding each date on which any payment in respect of the Securities becomes due, shall transfer to the Fiscal Agent such amount as may be required for the purposes of such payment. In this Clause, the date on which a payment in respect of the Securities becomes due means the first date on which the holder of a Security or Coupon could claim the relevant payment by transfer to an account under the Conditions, but disregarding the necessity for it to be a Business Day in any particular place of presentation.
Payment to the Fiscal Agent.
(a) The Issuer shall, by no later than 3.00 p.m. (London time) on the Business Day on which any payment of principal or interest in respect of any of the Notes becomes due under the Conditions (or by such earlier time as may be determined by the Fiscal Agent in its absolute discretion in accordance with clause 4.1(b) below), transfer to an account specified by the Fiscal Agent such amount of U.S. dollars as shall be sufficient for the purposes of the payment of principal or interest in same day funds.
(b) If the Fiscal Agent determines in its absolute discretion that payment in accordance with this clause 4.1 is required to be made earlier than the Business Day on which payment in respect of the Notes becomes due, it will provide the Issuer with no less than 21 days' prior notice in writing of such requirements.
4.2 The Issuer shall ensure that, no later than 1.00 p.m. (London time) on the Second Business Day immediately preceding each day on which any payment is to be made to the Fiscal Agent under clause 4.1, the bank effecting payment to the Fiscal Agent confirms by SWIFT or similar message or email to the Fiscal Agent the irrevocable payment instructions relating to such payment.
4.3 For the purposes of this clause 4, Business Day means a day on which commercial banks and foreign exchange markets settle payments and are open for general business in Istanbul, London and New York City.
4.4 For the avoidance of doubt, the Paying Agents shall not have any obligation nor be bound to make any payment of principal or interest in respect of the Notes to the Noteholders until the Fiscal Agent has been put in cleared funds by the Issuer and has been able to identify or confirm receipt of those funds.
Payment to the Fiscal Agent.
4.1 The Issuer shall, not later than 10.00 a.m. on each date on which any payment of principal and/or interest in respect of any of the Notes becomes due under the Conditions, transfer to an account specified sufficiently in advance by the Fiscal Agent such amount of euro as shall be sufficient for the purposes of the payment of principal and/or interest in immediately available funds.
4.2 The Issuer shall ensure that, not later than 10:00 a.m. on the second London Business Day immediately preceding the date on which any payment is to be made to the Fiscal Agent pursuant to subclause 4.1, the Fiscal Agent shall receive a copy of an irrevocable payment instruction to the bank through which the payment is to be made. For the purposes of this subclause 4.2, London Business Day means a day on which banks are open for business in London.
4.3 If, the Issuer determines in its sole discretion that it will be required to withhold or deduct any FATCA Withholding in connection with any payment due on any Notes, then the Issuer w ill be entitled to re-direct or reorganise any such payment in any way that it sees fit in order that the payment may be made without FATCA Withholding provided that any such re-direction or reorganisation of any payment is made through a recognised institution of international standing and such payment is otherwise made in accordance with this Agreement.
Payment to the Fiscal Agent. The Issuer, failing which, the Guarantors shall make the necessary arrangements to give instructions prior to each date on which any payment in respect of the Notes becomes due, in order to transfer by TARGET2 System prior to noon (Luxembourg time) on each date on which any payment in respect of the Notes becomes due to the Fiscal Agent such amount as may be required for the purposes of such payment. In this Clause, the date on which a payment in respect of the Notes becomes due means the first date on which the holder of a Note, Receipt or Coupon could claim the relevant payment by transfer to an account under the Conditions. Further, the Issuer, failing which, the Guarantors, agree(s) to consult with the Fiscal Agent in relation to the settlement/payment/pre-advice procedures in respect of any Notes for which the relevant currency is other than Euro as reasonably necessary in advance of the issue of any such Notes.
Payment to the Fiscal Agent. The Relevant Issuer shall, on each date on which any payment in respect of the Notes becomes due, transfer to the Fiscal Agent such amount as may be required for the purposes of such payment. In this Clause, the date on which a payment in respect of the Notes becomes due means the first date on which the holder of a Note or Coupon could claim the relevant payment by transfer to an account under the Conditions, but disregarding the necessity for it to be a business day in any particular place of presentation. Unless the Principal Paying Agent is satisfied that the full amount of the payment has been made under the terms of this Agreement (except as to the time of making the same) or other arrangements satisfactory to the Principal Paying Agent have been made, neither the Principal Paying Agent nor any of the other Paying Agents shall be bound to make payments in respect of the Notes and Coupons.
Payment to the Fiscal Agent. (a) Subject to Clause 6.1(b) below, the Issuer, failing whom the Guarantor, shall, no later than 12.00 noon (in the principal financial centre of the payment currency or, in the case of payment in euro, central European time) on each date on which any payment in respect of the Notes becomes due, transfer to the Fiscal Agent such amount as may be required for the purposes of such payment.
(b) In respect of any payment due on any Series in a Specified Currency other than U.S. dollars payable to Noteholders holding interests in a Global Certificate registered in the name of, or the name of a nominee for, DTC who have not made an irrevocable election to receive payment in such specified currency the Issuer, failing whom the Guarantor, shall, no later than 11.00 a.m. (London time) on the third Business Day prior to the date on which any payment in respect of the Notes becomes due, transfer to the Fiscal Agent such amount as may be required for the purposes of such payment. In this Clause 6.1, the date on which a payment in respect of the Notes becomes due means the first date on which the holder of a Note, Receipt or Coupon could claim the relevant payment by transfer to an account under the Conditions, but disregarding the necessity for it to be a business day in any particular place of presentation.
Payment to the Fiscal Agent. The Issuer shall, no later than 10.00 a.m. (London time), on each date on which any payment in respect of the Notes becomes due, transfer to the Fiscal Agent such amount as may be required for the purposes of such payment. If the Fiscal Agent determines in its absolute discretion that payment in accordance with this Clause 4.1 is required to be made earlier, it will provide the Issuer with no less than 21 days prior notice in writing of such requirement. In this Clause 4.1, the date on which a payment in respect of the Notes becomes due means the first date on which the holder of a Note or Coupon could claim the relevant payment by transfer to an account under the Conditions, but disregarding the necessity for it to be a business day in the particular place of presentation.
Payment to the Fiscal Agent. The Issuer shall before 10:00 a.m. (local time in the relevant financial centre of the payment or, in the case of a payment in euro, London time) one Business Day prior to each day on which any payment in respect of the Notes becomes due, transfer to the Fiscal Agent such amount as may be required for the purposes of such payment. In this Clause, the date on which a payment in respect of the Notes becomes due means the first date on which the holder of a Note or Coupon could claim the relevant payment by transfer to an account under the Conditions, but disregarding the necessity for it to be a business day in any particular place of presentation.