Common use of Application by Paying Agents Clause in Contracts

Application by Paying Agents. The Paying Agents shall apply (or direct or cause the application of) each amount paid to them under this Clause 7 (Payments to the Paying Agents) in accordance with Clause 8 (Payments to Noteholders) and shall not be obliged to repay any such amount other than as provided herein or unless the claim for the relevant payment becomes void under the Current Issuer Conditions in which event they shall repay to the Current Issuer such portion of such amount as relates to such payment, by paying the same by credit transfer in sterling, euro or dollars, as the case may be, to such account with such bank as the Current Issuer has by notice to the Paying Agents specified for the purpose.

Application by Paying Agents. The Paying Agents shall apply (or direct or cause the application of) each amount paid to them under this Clause 7 (Payments to the Paying AgentsPAYMENTS TO THE PAYING AGENTS) in accordance with Clause 8 (Payments to NoteholdersPAYMENTS TO NOTEHOLDERS) and shall not be obliged to repay any such amount other than as provided herein or unless the claim for the relevant payment becomes void under the Current Issuer Conditions in which event they shall repay to the Current Issuer such portion of such amount as relates to such payment, by paying the same by credit transfer in sterling, euro or dollars, as the case may be, to such account with such bank as the Current Issuer has by notice to the Paying Agents specified for the purpose.