Common use of Section 318 Clause in Contracts

Section 318. Deposit of Moneys. ----------------- In order to provide for the payment of principal of and interest on the Notes as the same shall become due and payable, the Company hereby agrees to pay to the Trustee or such Paying Agent or Agents as the Trustee may specify by wire transfer of immediately available funds prior to 10:00 a.m., local time, on (in the case of amounts payable in respect of the DTC Global Note) the second Business Day preceding and (in the case of amounts payable to DBC in respect of the DBC Global Note) the Business Day preceding each Interest Payment Date or the maturity date (including a date fixed for redemption) of the Notes in such coin or currency of the Federal Republic of Germany as at the time of payment shall be legal tender for the payment of public and private debts, an amount in cash which shall be sufficient to pay the interest or principal or both, as the case may be, becoming due on such date.