Conditions to the Duties of the Paying Agent Sample Clauses
The 'Conditions to the Duties of the Paying Agent' clause defines the specific requirements that must be met before the paying agent is obligated to perform its payment-related responsibilities under an agreement. Typically, these conditions may include the receipt of necessary funds from the issuer, delivery of proper documentation, or confirmation that all legal and contractual prerequisites have been satisfied. By establishing clear preconditions, this clause ensures that the paying agent is only required to act when all necessary criteria are fulfilled, thereby protecting the agent from liability and ensuring orderly and accurate payment processing.
Conditions to the Duties of the Paying Agent. The provisions of Section 8.1(a) of the Collateral Agreement shall apply, mutatis mutandis, to the Paying Agent in the performance of its duties hereunder as if it were the Collateral Agent acting under the Collateral Agreement.