Application by Fiscal Agent Sample Clauses
The 'Application by Fiscal Agent' clause defines the authority and responsibilities of a fiscal agent in managing and applying funds or resources on behalf of another party, typically within a financial or contractual arrangement. In practice, this clause outlines the procedures the fiscal agent must follow when disbursing payments, allocating funds, or executing financial transactions as directed by the principal. For example, it may specify the documentation required for fund disbursement or the reporting obligations of the fiscal agent. The core function of this clause is to ensure that the fiscal agent acts in accordance with the agreed terms, providing transparency and accountability in the handling of funds, and thereby reducing the risk of mismanagement or misuse.
Application by Fiscal Agent. The Fiscal Agent shall apply each amount paid to it hereunder in accordance with Clause 8 (Payments to Noteholders) and shall not be obliged to repay any such amount unless the claim for the relevant payment becomes void under Condition 14 (Prescription) or otherwise ceases in accordance with the Conditions, in which event it shall refund at the written request of the Issuer such portion of such amount as relates to such payment by paying the same by credit transfer to such account with such bank as the Issuer has by notice to the Fiscal Agent specified for the purpose.
Application by Fiscal Agent. The Fiscal Agent shall apply each amount paid to it hereunder in accordance with Clause 8 (Payments to Noteholders) and shall not be obliged to repay any such amount unless the claim for the relevant payment becomes void under Condition 15 (Prescription) or otherwise ceases in accordance with the Conditions, in which event it shall refund at the written request of the relevant Issuer or (as the case may be) the relevant Guarantor such portion of such amount as relates to such payment by paying the same by credit transfer to such account with such bank as such Issuer or (as the case may be) the relevant Guarantor has by notice to the Fiscal Agent specified for the purpose.
Application by Fiscal Agent. The Fiscal Agent shall apply each amount paid to it hereunder in accordance with Clause 7 (Payments to Noteholders) and shall not be obliged to repay to the Issuer any such amount unless the claim for the relevant payment becomes void under Condition 13 (Prescription) or otherwise ceases in accordance with the Conditions, in which event it shall refund at the written request of the Issuer such portion of such amount as relates to such payment by paying the same by credit transfer to such account with such bank as the Issuer has by notice to the Fiscal Agent specified for the purpose. For this purpose, as soon as any payment becomes void pursuant to Condition 13 (Prescription), the Fiscal Agent will send to the Issuer a written notice thereof.
Application by Fiscal Agent. The Fiscal Agent shall apply each amount paid to it under this Clause 6 (Payments to the Fiscal Agent) in accordance with Clause 7 (Payments to Noteholders) and shall not be obliged to repay any such amount unless the claim for the relevant payment becomes void under Condition 9 (Prescription), in which event it shall refund at the written request of the Issuer such portion of such amount as relates to such payment by paying the same by credit transfer in euros to such account with such bank in Madrid as the Issuer has by notice to the Fiscal Agent specified for the purpose.
Application by Fiscal Agent. The Fiscal Agent shall apply each amount paid to it hereunder in accordance with Clause 8 (Payments to Noteholders) and shall not be obliged to repay any such amount unless the claim for the relevant payment becomes void under Condition 14 (Prescription) or otherwise ceases in accordance with the Conditions, in which event it shall refund at the written request of the Relevant Issuer or (as the case may be) the Guarantor (where the Relevant Issuer is CBQ Finance Limited) such portion of such amount as relates to such payment by paying the same by credit transfer to such account with such bank as the Relevant Issuer or (as the case may be) the Guarantor (where the Relevant Issuer is CBQ Finance Limited) has by notice to the Fiscal Agent specified for the purpose.
Application by Fiscal Agent. The Fiscal Agent shall apply each amount paid to it hereunder in accordance with Clause 7 (Payments to Noteholders) and shall not be obliged to repay any such amount unless the claim for the relevant payment becomes void under Condition 12 (Prescription) of the Senior Conditions or Condition 14 (Prescription) of the Tier 2 Conditions or the Tier 3 Conditions or Condition 14 (Prescription) of the Restricted Tier 1 Conditions, as the case may be, or otherwise ceases in accordance with the Conditions, in which event it shall refund at the written request of the Issuer such portion of such amount as relates to such payment by paying the same by credit transfer to such account with such bank as the Issuer has by notice to the Fiscal Agent specified for the purpose.
Application by Fiscal Agent. The Fiscal Agent is hereby irrevocably instructed by the Issuer to apply all moneys received by it in respect of any Note pursuant to this Agreement solely for the payment of principal, interest or any other amount payable on the Notes in accordance with the Conditions so that the Issuer shall have no claim to or on account of any such funds unless such purpose cannot be effected and the Fiscal Agent shall not be obliged to repay any such amount unless or until claims against the Issuer in respect of the relevant Notes or the obligation to make the relevant payment becomes void or ceases in accordance with the Conditions or Clause 5 (Repayment) below, in which event the Fiscal Agent shall repay, as soon as practicable, to the Issuer such portion of such amount as relates to such claim or payment by paying the same by credit transfer to such account with such bank as the Issuer may by notice to the Fiscal Agent specify for the purpose.