Common use of Notification of Payment by Current Issuer Clause in Contracts

Notification of Payment by Current Issuer. The Current Issuer shall procure that each bank or other person effecting payment for it in accordance with Clause 7.2 (Manner and Time of Payment) shall by not later than 2.00 p.m. (Local time) on the second Business Day before the due date of each payment under Clause 7.2 (Manner and Time of Payment) confirm by tested telex, facsimile or authenticated SWIFT message to the Paying Agents that it has issued irrevocable payment instructions for the transfer of the relevant sum due to the relevant account of the Paying Agents.

Notification of Payment by Current Issuer. The Current Issuer shall procure that each bank or other person effecting payment for it in accordance with Clause 7.2 (Manner and Time of PaymentMANNER AND TIME OF PAYMENT) shall by not later than 2.00 p.m. (Local time) on the second Business Local Banking Day before the due date of each payment under Clause 7.2 (Manner and Time of PaymentMANNER AND TIME OF PAYMENT) confirm by tested telex, facsimile or authenticated SWIFT message to the Paying Agents that it has issued irrevocable payment instructions for the transfer of the relevant sum due to the relevant account of the Paying Agents.