Common use of Application by Fiscal Agent Clause in Contracts

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 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 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. 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.