Common use of Verification Procedure Clause in Contracts

Verification Procedure. 5.1 In the event that: (a) a Payment Notice requests payment to a payee or bank account which is not expressly provided for by this Escrow Agreement; (b) a Schedule 1 Amendment Notice requests a change in Call Back Contact or its details or any bank account details listed in Schedule 1 of this Escrow Agreement; or (c) Law and Regulation or the Escrow Agent's internal protocol so requires, the Escrow Agent shall carry out the Verification Procedure. 5.2 If the Escrow Agent is required to carry out the Verification Procedure pursuant to Clause 0 above, the Escrow Agent shall telephone a Call Back Contact, at the time specified in Clause 5.3 below, to verify the accuracy and correctness of the relevant information provided in the Payment Notice or, as the case may be, the Schedule 1 Amendment Notice. 5.3 The Escrow Agent shall carry out the Verification Procedure: (a) in relation to a Payment Notice, prior to instructing the Foundation to make any payment pursuant to that Payment Notice; (b) in relation to a Schedule 1 Amendment Notice, within 2 (two) Business Days of receiving that Schedule 1 Amendment Notice; or (c) if required under Law and Regulation or the Escrow Agent's internal protocol. 5.4 If more than one Call Back Contact is provided, the Escrow Agent shall, at its own discretion, choose one Call Back Contact to carry out the Verification Procedure. 5.5 The Escrow Agent shall be entitled to rely on all information contained in, or provided in accordance with, this Escrow Agreement, including the name and telephone number provided for each Call Back Contact and shall not be required to further identify any Call Back Contact. 5.6 The Escrow Agent shall not be liable to the Company or any third party for a delay in making any payment as a result of having to carry out a Verification Procedure.

Verification Procedure. 5.1 In the event that: (a) a Payment Notice requests payment to a payee or bank account which is not expressly provided for by this Escrow Agreement; (b) a Schedule 1 Amendment Notice requests a change in Call Back Contact or its details or any bank account details listed in Schedule 1 of this Escrow Agreement; or (c) Law and Regulation or the Escrow Agent's internal protocol so requires, the Escrow Agent shall carry out the Verification Procedure. 5.2 If the Escrow Agent is required to carry out the Verification Procedure pursuant to Clause 0 5.1 above, the Escrow Agent shall telephone a Call Back Contact, at the time specified in Clause 5.3 below, to verify the accuracy and correctness of the relevant information provided in the Payment Notice or, as the case may be, the Schedule 1 Amendment Notice. 5.3 The Escrow Agent shall carry out the Verification Procedure: (a) in relation to a Payment Notice, prior to instructing the Foundation to make any payment pursuant to that Payment Notice; (b) in relation to a Schedule 1 Amendment Notice, within 2 (two) Business Days of receiving that Schedule 1 Amendment Notice; or (c) if required under Law and Regulation or the Escrow Agent's internal protocol, at such time required under Law and Regulation or the Escrow Agent's internal protocol (as applicable). 5.4 If more than one Call Back Contact is provided, the Escrow Agent shall, at its own discretion, choose one Call Back Contact to carry out the Verification Procedure. 5.5 The Escrow Agent shall be entitled to rely on all information contained in, or provided in accordance with, this Escrow Agreement, including the name and telephone number provided for each Call Back Contact and shall not be required to further identify any Call Back Contact. 5.6 The Escrow Agent shall not be liable to the Company or any third party for a delay in making any payment as a result of having to carry out a Verification Procedure.

Verification Procedure. 5.1 In the event that: (a) a Payment Notice requests payment to a payee or bank account which is not expressly provided for by this Escrow Agreement; (b) a Schedule 1 Amendment Notice requests a change in Call Back Contact or its details or any bank account details listed in Schedule 1 of this Escrow Agreement; or (c) Law and Regulation or the Escrow Agent's internal protocol so requires, the Escrow Agent shall carry out the Verification Procedure. 5.2 If the Escrow Agent is required to carry out the Verification Procedure pursuant to Clause 0 5.1 above, the Escrow Agent shall telephone a Call Back Contact, at the time specified in Clause 5.3 below, to verify the accuracy and correctness of the relevant information provided in the Payment Notice or, as the case may be, the Schedule 1 Amendment Notice. 5.3 The Escrow Agent shall carry out the Verification Procedure: (a) in relation to a Payment Notice, prior to instructing the Foundation to make any payment pursuant to that Payment Notice; (b) in relation to a Schedule 1 Amendment Notice, within 2 (two) Business Days of receiving that Schedule 1 Amendment Notice; or (c) if required under Law and Regulation or the Escrow Agent's internal protocol, at such time required under Law and Regulation or the Escrow Agent's internal protocol (as applicable). 5.4 If more than one Call Back Contact is provided, the Escrow Agent shall, at its own discretion, choose one Call Back Contact to carry out the Verification Procedure. 5.5 The Escrow Agent shall be entitled to rely on all information contained in, or provided in accordance with, this Escrow Agreement, including the name and telephone number provided for each Call Back Contact and shall not be required to further identify any Call Back Contact. 5.6 The Escrow Agent shall not be liable to the Company Party or any third party for a delay in making any payment as a result of having to carry out a Verification Procedure.