Common use of Payment; Interest Rights Preserved Clause in Contracts

Payment; Interest Rights Preserved. Interest on any Senior Notes which is payable, and is punctually paid or duly provided for, on any Senior Note Interest Payment Date shall be paid (a) in the case of Definitive Registered Senior Notes, to the Person in whose name that Definitive Registered Senior Note (or one or more Predecessor Senior Notes) is registered at the close of business on the Regular Record Date for such payment of interest and (b) in the case of Global Senior Notes, to the Holder through the Paying Agent by wire transfer of same-day funds to the Holder. In the case of Definitive Registered Senior Notes where payment is to be made in United States Dollars, payment at the Paying Agent's office will be made in US Dollars by check drawn on, or, at the request of the Holder, by wire transfer of same-day funds to a United States dollar account maintained by the payee with, a bank in The City of New York. In the case of Definitive Registered Senior Notes where payment is to be made in British pounds sterling pursuant to Section 3.10 (Optional Payment of Redemption Amounts in British Pounds Sterling), payment at the Paying Agent's office will be made in British pounds sterling by check drawn on, or, at the request of the Holder, by wire transfer of same-day funds to a British pounds sterling account maintained by the payee with, a bank in London. Any interest on any Senior Note which is payable, but is not punctually paid or duly provided for, on any Senior Note Interest Payment Date is herein called "DEFERRED INTEREST". Deferred Interest on any Senior Note shall be paid by the Issuer in accordance with clause (1) below (in the case of Definitive Registered Senior Notes) or (2) below (in the case of Global Senior Notes):

Appears in 1 contract

Samples: Deposit Agreement (Marconi Corp PLC)

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Payment; Interest Rights Preserved. Interest on any Senior Junior Notes which is payable, and is punctually paid or duly provided for, on any Senior Junior Note Interest Payment Date shall be paid (a) in the case of Definitive Registered Senior Junior Notes, to the Person in whose name that Definitive Registered Senior Junior Note (or one or more Predecessor Senior Junior Notes) is registered at the close of business on the Regular Record Date for such payment of interest and (b) in the case of Global Senior NotesJunior Notes held by any Holder, to the Holder through the Paying Agent by wire transfer of same-day funds to the Holder. In the case of Definitive Registered Senior Junior Notes where payment is to be made in United States Dollars, payment at the Paying Agent's office will be made in US Dollars by check drawn on, or, at the request of the Holder, by wire transfer of same-day funds to a United States dollar account maintained by the payee with, a bank in The City of New YorkYork provided however, that at the option of the Issuer in the case of Definitive Registered Junior Notes, repayment of any interest thereon may be made by check mailed to the address of the Person entitled herein as such address shall appear in the Register, unless such Person requests payment by wire transfer pursuant to this Section 2.09. In the case of Definitive Registered Senior Junior Notes where payment is to be made in British pounds sterling pursuant to Section 3.10 (Optional Payment of Redemption Amounts in British Pounds Sterling)Euro, payment at the Paying Agent's office will be made in British pounds sterling Euro by check drawn on, or, at the request of the Holder, by wire transfer of same-day funds to a British pounds sterling Euro account maintained by the payee with, a bank in LondonLondon provided however, that at the option of the Issuer in the case of any interest thereon may be made by check mailed to the address of the Person entitled herein as such address shall appear in the Register, unless such Person requests payment by wire transfer. Any interest on any Senior Junior Note which is payable, but is not punctually paid or duly provided for, on any Senior Junior Note Interest Payment Date is herein called "DEFERRED INTEREST". Deferred Interest on any Senior Junior Note shall be paid by the Issuer in accordance with clause (1) below (in the case of Definitive Registered Senior Junior Notes) or (2) below (in the case of Global Senior Junior Notes):

Appears in 1 contract

Samples: Deposit Agreement (Marconi Corp PLC)

Payment; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Senior Debt Securities, interest, if any, on any Senior Notes Debt Securities which is payable, and is punctually paid or duly provided for, on any Senior Note Interest Payment Date shall be paid (a) paid, in the case of Definitive Registered registered Senior NotesDebt Securities, to the Person in whose name that Definitive Registered Senior Note Debt Security (or one or more Predecessor Senior NotesSecurities) is registered at the close of business on the Regular Record Date for such payment of interest and (b) or, in the case of Global Senior NotesSecurities held by any Holder, to the Holder including through the a Paying Agent of the Company designated pursuant to Section 3.01 outside the United Kingdom for collection by wire transfer of same-day funds to the Holder. In the case of Definitive Registered registered Senior Notes Debt Securities where payment is to be made in United States Dollars, payment at the any Paying Agent's ’s office outside The City of New York will be made in US Dollars by check drawn on, or, at the request of the Holder, by wire transfer of same-day funds to a United States dollar Dollar account maintained by the payee with, a bank in The City of New York. In the case of Definitive Registered registered Senior Notes Debt Securities where payment is to be made in British pounds sterling a Foreign Currency, payment will be made as established pursuant to Section 3.10 (Optional Payment of Redemption Amounts in British Pounds Sterling), payment at the Paying Agent's office will be made in British pounds sterling by check drawn on, or, at the request of the Holder, by wire transfer of same-day funds to a British pounds sterling account maintained by the payee with, a bank in London3.01. Any interest on any Senior Note Debt Security of any series which is payable, but is not punctually paid or duly provided for, on any Senior Note Interest Payment Date is herein called "DEFERRED INTEREST"“Deferred Interest”. Deferred Interest on any registered Senior Note Debt Security of any series shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue then of having been such Holder, and such Deferred Interest may be paid by the Issuer Company, at its election in accordance with each case, as provided in clause (1) below (in the case of Definitive Registered Senior Notesa) or (2b) below (in the case of Global Senior Notes):below:

Appears in 1 contract

Samples: Royal Bank of Scotland Group PLC

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Payment; Interest Rights Preserved. Interest Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Senior Debt Securities, interest, if any, on any Senior Notes Debt Securities which is payable, and is punctually paid or duly provided for, on any Senior Note Interest Payment Date shall be paid (a) in the case of Definitive Registered Senior Notes, to the Person in whose name that Definitive Registered Senior Note Holder (or one or more Predecessor Senior Notesincluding if held through a Paying Agent of the Company designated pursuant to Section 3.01 outside the United Kingdom for collection by the Holder) is registered at the close of business on the Regular Record Date for such payment of interest and (b) in the case of Global Senior Notes, to the Holder through the Paying Agent by wire transfer of same-day funds to the Holderinterest. In the case of Definitive Registered Senior Notes Debt Securities where payment is to be made in United States Dollars, payment at the any Paying Agent's ’s office outside The City of New York will be made in US Dollars by check drawn on, or, at the request of the Holder, by wire transfer of same-day funds to a United States dollar Dollar account maintained by the payee with, a bank in The City of New York. In the case of Definitive Registered Senior Notes Debt Securities where payment is to be made in British pounds sterling a Foreign Currency, payment will be made as established pursuant to Section 3.10 (Optional Payment of Redemption Amounts in British Pounds Sterling), payment at the Paying Agent's office will be made in British pounds sterling by check drawn on, or, at the request of the Holder, by wire transfer of same-day funds to a British pounds sterling account maintained by the payee with, a bank in London3.01. Any interest on any Senior Note Debt Security of any series which is payable, but is not punctually paid or duly provided for, on any Senior Note Interest Payment Date is herein called "DEFERRED INTEREST"“Default Interest”. Deferred Default Interest on any Senior Note Debt Security of any series shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue then of having been such Holder, and such Default Interest may be paid by the Issuer Company, at its election in accordance with each case, as provided in clause (1) below (in the case of Definitive Registered Senior Notesa) or (2b) below (in the case of Global Senior Notes):below:

Appears in 1 contract

Samples: Lloyds TSB Bank PLC

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