Common use of Payment by Agents Clause in Contracts

Payment by Agents. Unless they receive a notification from the Principal Paying Agent under sub-Clause 5.2 the Agents will, subject to and in accordance with the Conditions, pay or cause to be paid on behalf of the Issuer on and after each due date therefor the amounts due in respect of the Securities and will be entitled to claim any amounts so paid from the Principal Paying Agent. If any payment provided for in sub-Clause 5.1 is made late but otherwise in accordance with this Agreement, the Agents will nevertheless make such payments in respect of the Securities. However, unless and until the full amount of any such payment has been made to the Principal Paying Agent, none of the Agents will be bound to make such payments.