Common use of Payments by Paying Agents Clause in Contracts

Payments by Paying Agents. Each Paying Agent acting through its Specified Office shall make payments of principal and interest in respect of the Notes in accordance with the Conditions to the Holder of record on the Record Date; provided, however, that: 7.1.1 if any Definitive Note is presented or surrendered for payment to any Paying Agent and such Paying Agent has delivered a replacement therefor or has been notified that the same has been replaced, such Paying Agent shall forthwith notify the Issuer of such presentation or surrender and shall not make payment against the same until it is so instructed by the Issuer and has received the amount to be so paid; 7.1.2 a Paying Agent shall not be obliged (but shall be entitled) to make payments of principal or interest in respect of the Notes, if: (a) in the case of the Fiscal Agent, it has not received the full amount of any payment due to it under Clause 6.1 (Issuer to pay Fiscal Agent); or (b) in the case of any other Paying Agent, it is not able to establish that the Fiscal Agent has received (whether or not at the due time) the full amount of any payment due to it under Clause 6.1 (Issuer to pay Fiscal Agent);

Appears in 2 contracts

Sources: Fiscal Agency Agreement, Fiscal Agency Agreement (Ubs Ag)

Payments by Paying Agents. Each Paying Agent acting through its Specified Office outside the United States shall make payments of principal and interest in respect of the Notes in accordance with the Conditions to (and, in the Holder case of record on the Record DateTemporary Global Note or the Permanent Global Note, the terms thereof); provided, however, that: 7.1.1 if any Definitive Note or Coupon is presented or surrendered for payment to any Paying Agent and such Paying Agent has delivered a replacement therefor or has been notified that the same has been replaced, such Paying Agent shall forthwith notify the Issuer of such presentation or surrender and shall not make payment against the same until it is so instructed by the Issuer and has received the amount to be so paid; 7.1.2 a Paying Agent shall not be obliged (but shall be entitled) to make payments of principal or interest in respect of the Notes, if: (a) in the case of the Fiscal Agent, it has not received the full amount of any payment due to it under Clause 6.1 (Issuer to pay Fiscal Agent); or (b) in the case of any other Paying Agent: (i) it has been notified in accordance with Clause 6.5 (Failure to confirm payment instructions) that confirmation of the relevant payment instructions has not been received, unless it is subsequently notified that confirmation of such payment instructions has been received; or (ii) it is not able to establish that the Fiscal Agent has received (whether or not at the due time) the full amount of any payment due to it under Clause 6.1 (Issuer to pay Fiscal Agent);

Appears in 1 contract

Sources: Fiscal Agency Agreement (Asml Holding Nv)

Payments by Paying Agents. Each Paying Agent acting through its Specified Office shall make payments of principal and interest in respect of the Notes in accordance with the Conditions to (and, in the Holder case of record on the Record DateTemporary Global Note or the Permanent Global Note, the terms thereof); provided, however, that: 7.1.1 if any Definitive Note or Coupon is presented or surrendered for payment to any Paying Agent and such Paying Agent has delivered a replacement therefor or has been notified that the same has been replaced, such Paying Agent shall forthwith promptly notify the Issuer of such presentation or surrender and shall not make payment against the same until it is so instructed by the Issuer and has received the amount to be so paid; 7.1.2 a Paying Agent shall not be obliged (but shall be entitled) to make payments of principal or interest in respect of the Notes, if: (a) in the case of the Fiscal Agent, it has not received the full amount of any payment due to it under Clause 6.1 (Issuer to pay Fiscal Agent); or (b) in the case of any other Paying Agent, it is not able to establish that has been notified by the Fiscal Agent that payment has received (whether or not at the due time) the full amount of any been received, unless it is subsequently notified that such payment due to it under Clause 6.1 (Issuer to pay Fiscal Agent)has been received;

Appears in 1 contract

Sources: Fiscal Agency Agreement

Payments by Paying Agents. Each Paying Agent acting through its Specified Office shall make payments of principal and interest in respect of the Notes in accordance with the Conditions to the Holder of record on the Record DateConditions; provided, however, that: 7.1.1 if any Definitive Note or Coupon is presented or surrendered for payment to any Paying Agent and such Paying Agent has delivered a replacement therefor or has been notified that the same has been replaced, such Paying Agent shall forthwith notify the Issuer of such presentation or surrender and shall not make payment against the same until it is so instructed by the Issuer and has received the amount to be so paid; 7.1.2 a Paying Agent shall not be obliged (but shall be entitled) to make payments of principal or interest in respect of the Notes, if: (a) in the case of the Fiscal Agent, it has not received the full amount of any payment due to it under Clause 6.1 (Issuer to pay Fiscal Agent); or (b) in the case of any other Paying Agent, it is not able to establish that the Fiscal Agent has received (whether or not at the due time) the full amount of any payment due to it under Clause 6.1 (Issuer to pay Fiscal Agent);

Appears in 1 contract

Sources: Fiscal Agency Agreement (Ubs Ag)