Medium term note settlement procedures Sample Clauses

Medium term note settlement procedures in the case of a Tranche of Notes which is not syndicated among two or more Dealers but which is intended to be cleared through a clearing system, on the Local Banking Day immediately preceding its Issue Date deliver the Global Note to the relevant depositary for Euroclear and/or Clearstream, Luxembourg (which in the case of an NGN Temporary Global Note or an NGN Permanent Global Note shall be a specified Common Safekeeper) or to the relevant depositary for such other clearing system as shall have been agreed between the Issuer and the Fiscal Agent together and: (a) instruct the clearing systems to whom (or to whose depositary or Common Safekeeper) such Global Note has been delivered, to credit the underlying Notes represented by such Global Note to the securities account(s) at such clearing systems that have been notified to the Fiscal Agent by the Issuer, on a delivery against payment basis or, if specifically agreed between them, on a delivery free of payment basis; and (b) in the case of an NGN Temporary Global Note or an NGN Permanent Global Note, instruct the Common Safekeeper to effectuate the Global Note (provided that, if the Fiscal Agent is the Common Safekeeper, the Fiscal Agent shall effectuate the Global Note); and

Medium term note settlement procedures in the case of a Tranche of Covered Bonds which is not syndicated among two or more Dealers but which is intended to be cleared through a clearing system, on the Business Day immediately preceding its Issue Date deliver the Global Covered Bonds to the relevant depositary for Euroclear and/or Clearstream, Luxembourg (which in the case of an NGCB Temporary Global Covered Bond or an NGCB Permanent Global Covered Bond, or a Global Registered Covered Bond to be held under the NSS shall be a specified Common Safekeeper) or to the relevant depositary for such other clearing system as shall have been agreed between the Issuer and the Fiscal Agent or, as the case may be, the Registrar and: (a) instruct the clearing systems to whom (or to whose depositary or Common Safekeeper) such Global Covered Bond has been delivered, to credit the underlying Covered Bonds represented by such Global Covered Bond to the securities account(s) at such clearing systems that have been notified to the Fiscal Agent or, as the case may be, the Registrar by the Issuer, on a delivery against payment basis or, if specifically agreed between them, on a delivery free of payment basis; (b) in the case of an NGCB Temporary Global Covered Bond or an NGCB Permanent Global Covered Bond, or a Global Registered Covered Bond to be held under the NSS instruct the Common Safekeeper to effectuate the Global Covered Bond (provided that, if the Fiscal Agent is the Common Safekeeper, the Fiscal Agent shall effectuate the Global Covered Bond); and

Medium term note settlement procedures in the case of a Tranche of Notes which is not syndicated among two or more Dealers but which is intended to be cleared through a clearing system, on the Local Banking Day immediately preceding its Issue Date deliver the Global Note to the relevant depositary for Euroclear and/or Clearstream, Luxembourg or to the relevant depositary for such other clearing system as shall have been agreed between the Relevant Issuer and the Fiscal Agent or, as the case may be, the Registrar and instruct the clearing systems to whom (or to whose depositary) such Global Note has been delivered, to credit the underlying Notes represented by such Global Note to the securities account(s) at such clearing systems that have been notified to the Fiscal Agent or, as the case may be, the Registrar by the Relevant Issuer, on a delivery against payment basis or, if specifically agreed between them, on a delivery free of payment basis; and

Medium term note settlement procedures. In the case of the settlement of a Tranche or Series, as the case may be, of Notes which is not syndicated among two or more Dealers but which is intended to be cleared through a clearing system, the Principal Paying Agent or, as the case may be, the Registrar shall on the Issue Date: (a) in respect of Notes other than CMU Notes, deliver to a common depositary for Euroclear and Clearstream, Luxembourg the relevant Global Note and instructions are given by the Principal Paying Agent to Euroclear or, as the case may be, Clearstream, Luxembourg to credit the Notes represented by the Global Note initially delivered to the Principal Paying Agent's distribution account or, as the case may be, the Registrar's account; (b) in respect of Notes other than CMU Notes, further instruct Euroclear or, as the case may be, Clearstream, Luxembourg to debit from the distribution account the nominal amount of the Notes and to credit that nominal amount to the account of the relevant Dealer with Euroclear or Clearstream, Luxembourg against payment to the account of the Principal Paying Agent of the net subscription monies in relation to the Notes for value on the Issue Date; (c) pay to the Issuer for value on the Issue Date the net subscription monies in relation to the Notes received by it to the account of the Issuer previously notified to the Principal Paying Agent or, as the case may be, the Registrar for that purpose, and the Principal Paying Agent or, as the case may be, the Registrar shall notify the Issuer immediately in the event that a Dealer does not pay the net subscription monies due from it in respect of a Note; and (d) notify the Issuer of the issue of Notes giving details of the Global Note(s) and the nominal amount represented thereby.