Common use of Recording of payments Clause in Contracts

Recording of payments. upon any payment being made in respect of the Covered Bond represented by a Temporary Global Covered Bond or a Permanent Global Covered Bond, the Paying Agent or, as the case may be, the Registrar shall: (a) in the case of a CGCB Temporary Global Covered Bond or a CGCB Permanent Global Covered Bond, enter or procure that there is entered on the Schedule thereto (or, in the absence of a Schedule, on the face thereof) the amount of such payment and, in the case of payment of principal, the remaining principal amount of the Covered Bonds represented by such Global Covered Bond (which shall be the previous principal amount less the principal amount in respect of which payment has then been paid) and shall procure the signature of such notation on its behalf; and (b) in the case of an NGCB Temporary Global Covered Bond or an NGCB Permanent Global Covered Bond, instruct the ICSDs (in accordance with the provisions of Schedule 1 (Duties under the Issuer-ICSDs Agreement)) to make appropriate entries in their records to reflect the amount of such payment and, in the case of payment of principal, the remaining principal amount of the Covered Bonds represented by such Global Covered Bond (which shall be the previous principal amount less the principal amount in respect of which payment has then been paid);

Recording of payments. upon any payment being made in respect of the Covered Bond Bonds represented by a Temporary Global Covered Bond or a Permanent Global Covered Bond, the relevant Paying Agent or, as the case may be, the Registrar shall: (a) in the case of a CGCB Temporary Global Covered Bond or a CGCB Permanent Global Covered Bond, enter or procure that there is entered on the Schedule thereto (or, in the absence of a Schedule, on the face thereof) the amount of such payment and, in the case of payment of principal, the remaining principal amount of the Covered Bonds represented by such Global Covered Bond (which shall be the previous principal amount less the principal amount in respect of which payment has then been paid) and shall procure the signature of such notation on its behalf; and (b) in the case of an NGCB Temporary Global Covered Bond or an NGCB Permanent Global Covered Bond, instruct the ICSDs (in accordance with the provisions of Schedule 1 (Duties under the Issuer-ICSDs Agreement)) to make appropriate entries in their records to reflect the amount of such payment and, in the case of payment of principal, the remaining principal amount of the Covered Bonds represented by such Global Covered Bond (which shall be the previous principal amount less the principal amount in respect of which payment has then been paid);.