Common use of Covenant to Pay Clause in Contracts

Covenant to Pay. The Issuer shall on any date when any Notes become due to be redeemed, in whole or in part, unconditionally pay or procure to be paid to or to the order of the Trustee in the Contractual Currency, in the case of any Contractual Currency other than euro, in the principal financial centre for the Contractual Currency and in the case of euro, in a city in which banks have access to the TARGET2 system, in same day funds the Redemption Amount of the Notes becoming due for redemption on that date together with any applicable premium and shall (subject to the Conditions) until such payment (both before and after judgment) unconditionally so pay to or to the order of the Trustee interest in respect of the nominal amount of the Notes outstanding as set out in the Conditions (subject to Clause 2.6) provided that (1) subject to the provisions of Clause 2.5, payment of any sum due in respect of the Notes made to the Principal Paying Agent as provided in the Agency Agreement shall, to that extent, satisfy such obligation except to the extent that there is failure in its subsequent payment to the relevant Noteholders or Couponholders under the Conditions and (2) a payment made after the due date or as a result of the Note becoming repayable following an Event of Default shall be deemed to have been made when the full amount due has been received by the Principal Paying Agent or the Trustee and notice to that effect has been given to the Noteholders (if required under Clause 7.8), except to the extent that there is failure in its subsequent payment to the relevant Noteholders or Couponholders under the Conditions. This covenant shall only have effect each time Notes are issued and outstanding. The Trustee shall hold the benefit of this covenant and the covenants in Clause 7 on trust for the Noteholders and Couponholders of the relevant Series.

Covenant to Pay. The Issuer shall on any date when any Notes become due to be redeemed, in whole or in part, unconditionally pay or procure to be paid to or to the order of the Trustee in the Contractual Currency, in the case of any Contractual Currency other than euro, in the principal financial centre for the Contractual Currency and in the case of euro, in a city in which banks have access to the TARGET2 system, in same day funds the Redemption Amount of the Notes becoming due for redemption on that date together with any applicable premium and shall (subject to the Conditions) until such payment (both before and after judgment) unconditionally so pay to or to the order of the Trustee interest in respect of the nominal amount of the Notes outstanding as set out in the Conditions (subject to Clause 2.6) provided that (1) subject to the provisions of Clause 2.5, payment of any sum due in respect of the Notes made to the Issuing and Principal Paying Agent as provided in the Agency Agreement shall, to that extent, satisfy such obligation except to the extent that there is failure in its subsequent payment to the relevant Noteholders or Couponholders under the Conditions and (2) a payment made after the due date or as a result of the Note becoming repayable following an Event of Default shall be deemed to have been made when the full amount due has been received by the Issuing and Principal Paying Agent or the Trustee and notice to that effect has been given to the Noteholders (if required under Clause 7.88.87.8), except to the extent that there is failure in its subsequent payment to the relevant Noteholders or Couponholders under the Conditions. This covenant shall only have effect each time Notes are issued and outstanding. The Trustee shall hold the benefit of this covenant and the covenants in Clause 7 87 on trust for the Noteholders and Couponholders of the relevant Series.

Covenant to Pay. The Issuer shall on any date covenants with the Trustee that it shall, as and when any Notes become principal on the Bonds issued by it becomes due to be redeemed, repaid in whole or in partaccordance with the Conditions, unconditionally pay or procure to be paid to or to the order of the Trustee in immediately available freely transferable funds in Euros, the Contractual Currencyprincipal amount of the Bonds becoming due for payment on that date provided that: 2.2.1 every payment of principal, in respect of such Bonds or any of them made to the Principal Paying, Transfer and Conversion Agent in the manner provided in the Paying, Transfer and Conversion Agency Agreement shall satisfy, to the extent of such payment, the relevant covenant, except to the extent that there is default in the subsequent payment of cash to the relevant Bondholders in accordance with the Conditions; and 2.2.2 if any payment of principal in respect of such Bonds or any of them is made after the due date, payment shall be deemed not to have been made until either the full amount is paid to the relevant Bondholders or, if earlier, the seventh day after notice has been given to the relevant Bondholders in accordance with the Conditions that the full amount has been received by the Principal Paying, Transfer and Conversion Agent or the Trustee except, in the case of any Contractual Currency other than euro, in the principal financial centre for the Contractual Currency and in the case of euro, in a city in which banks have access to the TARGET2 system, in same day funds the Redemption Amount of the Notes becoming due for redemption on that date together with any applicable premium and shall (subject to the Conditions) until such payment (both before and after judgment) unconditionally so pay to or to the order of the Trustee interest in respect of the nominal amount of the Notes outstanding as set out in the Conditions (subject to Clause 2.6) provided that (1) subject to the provisions of Clause 2.5, payment of any sum due in respect of the Notes made to the Principal Paying Agent as provided in the Agency Agreement shallPaying, to that extentTransfer and Conversion Agent, satisfy such obligation except to the extent that there is failure in its the subsequent payment to the relevant Noteholders or Couponholders under the Conditions and (2) a payment made after the due date or as a result of the Note becoming repayable following an Event of Default shall be deemed to have been made when the full amount due has been received by the Principal Paying Agent or the Trustee and notice to that effect has been given to the Noteholders (if required under Clause 7.8), except to the extent that there is failure in its subsequent payment to the relevant Noteholders or Couponholders Bondholders under the Conditions. This covenant shall only have effect each time Notes are issued and outstanding. The Trustee shall will hold the benefit of this covenant and the covenants covenant in Clause 7 Section 4 (Covenant to comply with the Trust Deed) on trust for the Noteholders and Couponholders of the relevant SeriesBondholders in accordance with their respective interests.

Covenant to Pay. The Issuer shall on any date when any Notes become due to be redeemed, in whole or in part, unconditionally pay or procure to be paid to or to the order of the Trustee in the Contractual Currency, in the case of any Contractual Currency other than euro, in the principal financial centre for the Contractual Currency and in the case of euro, in a city in which banks have access to the TARGET2 system, in same day funds the Redemption Amount of the Notes becoming due for redemption on that date together with any applicable premium and shall (subject to the Conditions) until such payment (both before and after judgment) unconditionally so pay to or to the order of the Trustee interest in respect of the nominal amount of the Notes outstanding as set out in the Conditions (subject to Clause 2.6) provided that (1) subject to the provisions of Clause 2.5, payment of any sum due in respect of the Notes made to the Issuing and Principal Paying Agent as provided in the Agency Agreement shall, to that extent, satisfy such obligation except to the extent that there is failure in its subsequent payment to the relevant Noteholders or Couponholders under the Conditions and (2) subject to the provisions of Clause 2.5, a payment made after the due date or as a result of the Note becoming repayable following an Event of Default shall be deemed to have been made when the full amount due has been received by the Issuing and Principal Paying Agent or the Trustee and notice to that effect has been given to the Noteholders (if required under Clause 7.88.87.8), except to the extent that there is failure in its subsequent payment to the relevant Noteholders or Couponholders under the Conditions. This covenant shall only have effect each time Notes are issued and outstanding. The Trustee shall hold the benefit of this covenant and the covenants in Clause 7 87 on trust for the Noteholders and Couponholders of the relevant Series.

Covenant to Pay. The Issuer shall on any date when any Notes become due to be redeemed, in whole or in part, unconditionally pay or procure to be paid to or to the order of the Trustee in the Contractual Currency, in the case of any Contractual Currency other than euro, in the principal financial centre for the Contractual Currency and in the case of euro, in a city in which banks have access to the TARGET2 systemTARGET System, in same day funds the Redemption Amount of the Notes becoming due for redemption on that date together with any applicable premium and shall (subject to the Conditions) until such payment (both before and after judgment) unconditionally so pay to or to the order of the Trustee interest in respect of the nominal amount of the Notes outstanding as set out in the Conditions (subject to sub-Clause 2.6) provided that (1) subject to the provisions of Clause 2.5, 2.5 payment of any sum due in respect of the Notes made to the Principal Issuing and Paying Agent as provided in the Agency Agreement shall, to that extent, satisfy such obligation except to the extent that there is failure in its subsequent payment to the relevant Noteholders or Couponholders under the Conditions and (2) a payment made after the due date or as a result of the Note Notes becoming repayable following an Event of Default shall be deemed to have been made when the full amount due has been received by the Principal Issuing and Paying Agent or the Trustee and notice to that effect has been given to the Noteholders (if required under Clause 7.88.8), except to the extent that there is failure in its subsequent payment to the relevant Noteholders or Couponholders under the Conditions. This covenant shall only have effect each time Notes are issued and outstanding. The , when the Trustee shall hold the benefit of this covenant and the covenants in Clause 7 on trust for the Noteholders and Couponholders of the relevant Series.

Covenant to Pay. The Issuer shall on any date Subject always to the provisions hereof and to Clause 2.7, as and when any the Notes of a Series become due to be redeemedredeemed or repaid in accordance with these presents, in whole or in part, unconditionally pay or the Issuer shall (to the extent that it receives relevant funds from the Borrower) (i) procure to be paid in accordance with the provisions of the Conditions and the Agency Agreement to or to the order of the Trustee in the Contractual Currencycurrency of, and subject to the conditions attaching to, the equivalent payment in relation to such Loan under such Loan Agreement, as provided in the case of any Contractual Currency other than euroConditions, amounts corresponding to principal in the principal financial centre for the Contractual Currency and in the case of euro, in a city in which banks have access to the TARGET2 system, in same day funds the Redemption Amount respect of the Notes of such Series becoming due for redemption or repayment on that date together with any applicable premium equivalent to principal actually received (and not required to be repaid) in relation to the corresponding Loan under the relevant Loan Agreement and shall (subject to the Conditionsprovisions hereof and to Clause 2.7 as aforesaid), until all such payments (as well after as before any judgment or other order of any court of competent jurisdiction) until such payment are duly made, (both before ii) procure to be paid in accordance with the provisions of the Conditions and after judgment) unconditionally so pay the Agency Agreement to or to the order of the Trustee as aforesaid on the dates and in the manner provided for in the Conditions amounts corresponding to interest in respect of the nominal Notes of such Series equivalent to interest actually received (and not required to be repaid) in relation to the corresponding Loan under the relevant Loan Agreement pro rata according to the principal amount of each Note of such Series and on the Notes outstanding date of, and in the currency of, and subject to the conditions attaching to, the equivalent payment in relation to such Loan under such Loan Agreement, as set out provided in the Conditions (subject to Clause 2.6) provided 2.10). Provided that (1i) subject to the provisions of Clause 2.5, every payment of any sum due an amount corresponding to principal or interest in respect of the Notes made to or to the order of the Trustee or the Principal Paying Agent as in the manner provided in the Conditions, the Agency Agreement and in these presents shall, to that extentunless the Trustee has given and not withdrawn a notice under Clause 2.8, satisfy such obligation except to the extent that there is failure in its subsequent payment to be satisfaction pro tanto of the relevant Noteholders or Couponholders under covenant by the Conditions Issuer contained in this Clause 2.4 and (2ii) a in the case of any payment made after the due date or as a result of the Note becoming repayable following an Event of Default date, payment shall be deemed not to have been made when until the full amount due has been received by the Trustee or the Principal Paying Agent or the Trustee and notice to that effect has been given by the Principal Paying Agent to the Noteholders (if required under in accordance with Condition 14. Unless the Trustee otherwise requires, all payments by the Issuer pursuant to this Clause 7.8), except 2.4 in relation to a Series shall be made to the extent that there is failure Account specified in its subsequent payment relation to the relevant Noteholders or Couponholders under the Conditionssuch Series. This covenant shall only have effect each time Notes are issued and outstanding. The , when the Trustee shall shall, upon execution of the relevant Supplemental Trust Deed, hold the benefit of this covenant and the covenants covenant in Clause 7 6 on trust for itself and the Noteholders and Couponholders of the relevant SeriesSeries according to their respective interests.

Covenant to Pay. The Issuer shall shall, on any date when any payment of principal in respect of the relevant Notes become becomes due to be redeemedand payable, in whole or in part, unconditionally pay or procure to be paid to or to the order of the Trustee in the Contractual Currency, in the case of any Contractual Currency other than euro, in the principal financial centre for the Contractual Currency and Currency, and, in the case of euro, in a city in which banks have access to the TARGET2 systemTARGET System, in same same- day funds the relevant Instalment Amount or Early Redemption Amount of the Notes becoming due for redemption relevant Notes, as applicable, on that date together with any applicable premium and shall (subject to the Conditions) until such payment (both before and after judgment) unconditionally so pay to or to the order of the Trustee interest in respect of the nominal amount of the relevant Notes outstanding as set out in the Conditions (subject to Clause 2.6) 3.5), provided that (1i) subject to the provisions of Clause 2.53.4, payment of any sum due in respect of the relevant Notes made to the Principal Issuing and Paying Agent as provided in the Agency Agreement shall, to that extent, satisfy such obligation except to the extent that there is failure in its subsequent payment to the relevant Noteholders Noteholders, holders of Receipts or Couponholders under the Conditions and (2ii) a payment made after the due date or as a result of the Note relevant Notes becoming repayable following an Event of Default pursuant to Condition 7 (Redemption, Purchase and Options) shall be deemed to have been made when the full amount due has been received by the Principal Issuing and Paying Agent or the Trustee and notice to that effect has been given to the Noteholders (if required under Clause 7.88.1.14), except to the extent that there is failure in its subsequent payment to the relevant Noteholders Noteholders, holders of Receipts or Couponholders under the Conditions. This covenant shall only have effect each time Notes are issued and outstanding. The Trustee shall shall, upon execution of the Issue Deed, hold the benefit of this covenant and the covenants in Clause 7 on trust for itself and the Noteholders Noteholders, holders of Receipts and Couponholders of the relevant Seriesaccording to their respective interests.

Covenant to Pay. (a) The Issuer shall Bank will: (i) on any date when any amounts in respect of principal of the Notes become due to be redeemedredeemed unconditionally pay or procure to be paid to, or to the order of, the Trustee for the benefit of the Noteholders (not later than 10:00 a. m. London time) in whole U.S. dollars in same day immediately available, freely transferable and cleared funds such amounts in respect of principal of the Notes becoming due for redemption or repayment, without exercising any counterclaim, lien, right of set-off or similar claim in part, respect thereof; and (ii) (subject to the Conditions) until such payment (both before and after judgment or other order of a competent court) unconditionally so pay or procure to be paid to or to the order of the Trustee in (and unless otherwise instructed by the Contractual CurrencyTrustee, in will make such payment to the case of any Contractual Currency other than euro, in Principal Paying and Transfer Agent) interest on the principal financial centre for the Contractual Currency and in the case of euro, in a city in which banks have access to the TARGET2 system, in same day funds the Redemption Amount of the Notes becoming due for redemption on that date together with any applicable premium and shall (subject to the Conditions) until such payment (both before and after judgment) unconditionally so pay to or to the order of the Trustee interest in respect of the nominal amount of the Notes outstanding as set out in the Conditions Conditions; (subject to Clause 2.6A) provided that (1) subject to the provisions of Clause 2.5, payment of any sum due in respect of the Notes made to the Principal Paying Agent and Transfer Agent, as provided in the Agency Agreement Agreement, shall, to that extent, satisfy such obligation obligation, except to the extent that there is failure in its subsequent payment to the relevant Noteholders or Couponholders under the Conditions and Conditions; and (2B) a payment made after the due date or as a result pursuant to Condition 11 (Events of the Note becoming repayable following an Event of Default shall Default) will be deemed to have been made when the full amount due has been received by the Principal Paying and Transfer Agent or the Trustee and notice to that effect has been given to the Noteholders (if required under Clause 7.8)Noteholders, except to the extent that there is failure in its subsequent payment to the relevant Noteholders or Couponholders under the Conditions. This covenant shall only have effect each time Notes are issued and outstanding. The Trustee shall will hold the benefit of this covenant and the covenants in Clause 7 on trust for itself and the Noteholders. The covenant contained in this Clause 2.2(a) shall only have effect while the Notes are issued and outstanding under this Deed. (b) In any case where: (i) payment of principal is not made to the Trustee or the Principal Paying and Transfer Agent on or before the due date, interest shall continue to accrue on the principal amount at the Rate of Interest (as defined in the Conditions) up to and including the date which the Trustee determines to be the date on and after which payment is to be made to the Noteholders in respect thereof as stated in a notice given to the Noteholders in accordance with the Conditions; (ii) payment of the whole or any part of the principal amount of any Note is improperly withheld or refused upon due presentation thereof (other than in circumstances contemplated above) interest shall accrue on that principal amount of payment which has been so withheld or refused (both before and Couponholders after any judgment or other order of a court or arbitral tribunal of competent jurisdiction) at the Rate of Interest from and including the date of such withholding or refusal up to and including the date on which, upon further presentation of the relevant SeriesNote, payment of the full amount (including interest as aforesaid) in U.S. dollars payable in respect of such Note is made or (if earlier) the day after notice is given to the relevant Noteholder.

Covenant to Pay. The relevant Issuer shall on any date when any Notes become due to be redeemed, in whole or in part, unconditionally pay or procure to be paid to or to the order of the Trustee in the Contractual Currency, in the case of any Contractual Currency other than euro, in the principal financial centre for the Contractual Currency and in the case of euro, in a city in which banks have access to the TARGET2 systemTARGET System, in same day funds the Redemption Amount of the Notes becoming due for redemption on that date together with any applicable premium and shall (subject to the Conditions) until such payment (both before and after judgment) unconditionally so pay to or to the order of the Trustee interest in respect of the nominal amount of the Notes outstanding as set out in the Conditions (subject to Clause 2.6) provided that (1a) subject to the provisions of Clause 2.5, payment of any sum due in respect of the Notes made to the Principal Issuing and Paying Agent as provided in the Agency Agreement shall, to that extent, satisfy such obligation except to the extent that there is failure in its subsequent payment to the relevant Noteholders or Couponholders under the Conditions and (2b) a payment made after the due date or as a result of the Note becoming repayable following an Event of Default shall be deemed to have been made when the full amount due has been received by the Principal Issuing and Paying Agent or the Trustee and notice to that effect has been given to the Noteholders (if required under Clause 7.88.87.8), except to the extent that there is failure in its subsequent payment to the relevant Noteholders or Couponholders under the Conditions. This covenant shall only have effect each time Notes are issued and outstanding. The , when the Trustee shall hold the benefit of this covenant and the covenants in Clause 7 on trust for the Noteholders and Couponholders of the relevant Series.

Covenant to Pay. The Issuer shall covenants to comply with the provisions of the Trust Deed and will (i) on any date when any Additional Notes become due to be redeemed, in whole or in part, redeemed unconditionally pay or procure to be paid to or to the order of the Trustee in the Contractual Currency, in the case of any Contractual Currency other than euro, in the principal financial centre for the Contractual Currency and in the case of euro, in a city in which banks have access to the TARGET2 system, euro in same day freely transferable funds the Redemption Amount principal amount of the Additional Notes becoming due for redemption on that date together with any applicable premium and shall (ii) (subject to the Additional Notes Conditions) until such payment (both before and after judgment) unconditionally so pay to or to the order of the Trustee interest in respect of on the nominal principal amount of the Additional Notes outstanding outstanding, in each case as set out in the Conditions (subject to Clause 2.6) Additional Notes provided that (1) subject to the provisions of Clause 2.52.4 of the Original Trust Deed, payment of any sum due in respect of the Additional Notes made to the Principal Paying Agent as provided in the Paying Agency Agreement shall, to that extent, satisfy such obligation except to the extent that there is failure in its subsequent payment to the relevant Noteholders or Couponholders under the Additional Notes Conditions and (2) a payment made after the due date or as a result of the pursuant to Additional Note becoming repayable following an Event of Default shall Condition 8 will be deemed to have been made when the full amount due has been received by the Principal Paying Agent or the Trustee and notice to that effect has been given to the Noteholders (if required under Clause 7.87.9 of the Original Trust Deed), except to the extent that there is failure in its subsequent payment to the relevant Noteholders or Couponholders under the Additional Note Conditions. This covenant shall only have effect each time Notes are issued and outstanding. The Trustee shall will hold the benefit of this covenant and the covenants in Clause 7 on trust for the Noteholders and Couponholders of the relevant SeriesCouponholders.

Covenant to Pay. The relevant Issuer shall on any date when any Notes become due to be redeemed, in whole or in part, unconditionally pay or procure to be paid to or to the order of the Trustee in the Contractual Currency, in the case of any Contractual Currency other than euro, in the principal financial centre for the Contractual Currency and in the case of euro, in a city in which banks have access to the TARGET2 systemTARGET System, in same day funds the Redemption Amount of the Notes becoming due for redemption on that date together with any applicable premium and shall (subject to the Conditions) until such payment (both before and after judgment) unconditionally so pay to or to the order of the Trustee interest in respect of the nominal amount of the Notes outstanding as set out in the Conditions (subject to Clause 2.6) provided that (1) subject to the provisions of Clause 2.5, payment of any sum due in respect of the Notes made to the Principal Issuing and Paying Agent as provided in the Agency Agreement shall, to that extent, satisfy such obligation except to the extent that there is failure in its subsequent payment to the relevant Noteholders or Couponholders under the Conditions and (2) a payment made after the due date or as a result of the Note becoming repayable following an Event of Default shall be deemed to have been made when the full amount due has been received by the Principal Issuing and Paying Agent or the Trustee and notice to that effect has been given to the Noteholders (if required under Clause 7.89.8), except to the extent that there is failure in its subsequent payment to the relevant Noteholders or Couponholders under the Conditions. This covenant shall only have effect each time Notes are issued and outstanding. The , when the Trustee shall hold the benefit of this covenant and the covenants in Clause 7 on trust for the Noteholders and Couponholders of the relevant Series.