PROVIDED THAT. every payment of principal or interest or other sum due in respect of the Notes made to or to the order of the Agent in the manner provided in the Agency Agreement shall be in satisfaction pro tanto of the relative covenant by the Issuer in this Clause contained in relation to the Notes of such Series except to the extent that there is a default in the subsequent payment thereof in accordance with the Conditions to the relevant Noteholders or Couponholders (as the case may be);
Appears in 4 contracts
Sources: Supplemental Trust Deed, Eighth Supplemental Trust Deed, Seventh Supplemental Trust Deed
PROVIDED THAT. subject to the provisions of Clause 2.3, every payment of principal or interest or other sum due in respect of the Notes made to or to the order of the Agent or Registrar in the manner provided in the Agency Agreement shall be in satisfaction pro tanto of the relative covenant by the Issuer in this Clause contained in relation to the Notes of such Series except to the extent that there is a default in the subsequent payment thereof in accordance with the Conditions to the relevant Noteholders or Couponholders (as the case may be);
Appears in 2 contracts
Sources: Trust Deed, Trust Deed
PROVIDED THAT. every payment of principal or interest or other sum due in respect of the Notes made to or to the order of the Issuing and Paying Agent in the manner provided in the Agency Agreement shall be in satisfaction pro tanto of the relative relevant covenant by the Issuer in this Clause contained in relation to the Notes of such Series except to the extent that there is a default in the subsequent payment thereof in accordance with the Conditions to the relevant Noteholders Noteholders, Receiptholders or Couponholders (as the case may be);
Appears in 1 contract
Sources: Trust Deed (Texas Utilities Co /Tx/)
PROVIDED THAT. every payment of principal or interest or other sum due in respect of the Notes made to or to the order of the Agent in the manner provided in the Agency Agreement shall be operate in satisfaction pro tanto of the relative covenant by the relevant Issuer in this Clause contained in relation to the Notes of such Series except to the extent that there is a default in the subsequent payment thereof in accordance with the Conditions to the relevant Noteholders Noteholders, Receiptholders or Couponholders (as the case may be);; 18
Appears in 1 contract