Common use of Payments - Bearer PD Debt Instruments Clause in Contracts

Payments - Bearer PD Debt Instruments. 7.1.1 Payment of amounts other than interest Payment of amounts (other than interest) due in respect of Bearer PD Debt Instruments (other than definitive Bearer PD Debt Instruments held through the CMU Service (“CMU PD Debt Instruments”)) will be made against presentation and surrender of the PD Debt Instrument, at the specified office of any Paying Agent. 7.1.2 Payment of amounts in respect of interest on Bearer PD Debt Instruments Payment of amounts due in respect of interest on Bearer PD Debt Instruments (other than CMU PD Debt Instruments) will be made: (a) in the case of a PD Debt Instrument without Coupons attached thereto at the time of its initial delivery, against presentation of the relevant PD Debt Instrument at the specified office of any Paying Agent outside (unless Condition 7.1.4 applies) the United States; and (b) in the case of a PD Debt Instrument delivered with Coupons attached thereto at the time of its initial delivery, against presentation and surrender of the relevant Coupon or, in the case of interest due otherwise than on a scheduled Interest Payment Date, against presentation of the relevant Bearer PD Debt Instrument, in either case at the specified office of any Paying Agent outside (unless Condition 7.1.4 applies) the United States. 7.1.3 Payment of amounts in respect of CMU PD Debt Instruments In the case of CMU PD Debt Instruments, payment will be made to the person for whose account interests in the relevant definitive Bearer PD Debt Instrument are credited as being held through the CMU Service in accordance with the CMU Rules at the relevant time as notified to the CMU Lodging Agent by the CMU Service in a relevant CMU Instrument Position Report or any relevant notification by the CMU Service, which notification, in either case, shall be conclusive evidence of the records of the CMU Service as to the identity of any accountholder and the principal amount of any PD Debt Instrument credited to its account (save in the case of manifest error) and payment made in accordance thereof shall discharge the obligations of the Issuer in respect of that payment. 7.1.4 Payment at specified office in the United States Except as provided below, payment of amounts due in respect of interest on Bearer PD Debt Instruments and exchanges of Talons for Coupon sheets in accordance with Condition 7.1.5 will not be made at any specified office of any Paying Agent in the United States. Notwithstanding the foregoing, if any amount of principal and/or interest in respect of this PD Debt Instrument is payable in U.S. Dollars, such U.S. Dollar payments of principal and/or interest in respect of this PD Debt Instrument will be made at the specified office of a Paying Agent in the United States if: (a) the Issuer has appointed Paying Agents with specified offices outside the United States with the reasonable expectation that such Paying Agents would be able to make payment in U.S. Dollars at such specified offices outside the United States of the full amount of principal and interest on the PD Debt Instruments in the manner provided above when due; (b) payment of the full amount of such principal and interest at all such specified offices outside the United States is illegal or effectively precluded by exchange controls or other similar restrictions on the full payment or receipt of principal and interest in U.S. Dollars; and (c) such payment is then permitted under United States law without involving, in the opinion of the Issuer, adverse tax consequences to the Issuer. If paragraphs (a) and (b) apply, the Issuer shall forthwith appoint a Paying Agent with a specified office in New York City.