Common use of Exempt Notes Clause in Contracts

Exempt Notes. Payments on any Notes which are denominated in Swiss francs and offered to the public in Switzerland and/or listed on the SIX Swiss Exchange will be made irrespective of any present or future transfer restrictions and regardless of any bilateral or multilateral payment or clearing agreement which may be applicable at any time to such payment. In respect of Notes denominated in Swiss francs and offered to the public in Switzerland and/or listed on the SIX Swiss Exchange, the receipt by the Principal Swiss Paying Agent of the due and punctual payment of the funds in Swiss francs in Zurich shall release the Issuer from its obligation under such Notes and Coupons for the payment of the principal and interest due on the respective payment dates to the extent of such payments and except to the extent that there is default in the subsequent payment thereof to the Noteholders or Couponholders, as the case may be. Except to the extent required by law, payments of principal and interest in respect of any Notes denominated in Swiss francs shall be made in freely disposable Swiss francs without collection costs and, whatever the circumstances may be, irrespective of the nationality, domicile or residence of the holder of the Notes and without requiring any certification, affidavit or the fulfilment of any other formality.

Exempt Notes. Payments on any Notes which are denominated in Swiss francs Francs and offered to the public in Switzerland and/or listed on the SIX Swiss Exchange will be made irrespective of any present or future transfer restrictions and regardless of any bilateral or multilateral payment or clearing agreement which may be applicable at any time to such payment. In respect of Notes denominated in Swiss francs Francs and offered to the public in Switzerland and/or listed on the SIX Swiss Exchange, the receipt by the Principal Swiss Paying Agent of the due and punctual payment of the funds in Swiss francs in Zurich shall release the Issuer from its obligation under such Notes and Coupons for the payment of the principal and interest due on the respective payment dates to the extent of such payments and except to the extent that there is default in the subsequent payment thereof to the Noteholders or Couponholders, as the case may be. Except to the extent required by law, payments of principal and interest in respect of any Notes denominated in Swiss francs Francs shall be made in freely disposable Swiss francs without collection costs and, whatever the circumstances may be, irrespective of the nationality, domicile or residence of the holder of the Notes and without requiring any certification, affidavit or the fulfilment of any other formality.