Common use of Payment to Fiscal Agent Clause in Contracts

Payment to Fiscal Agent. The Issuer will, on each date on which any payment in respect of the Bonds becomes due, transfer to the Fiscal Agent to the previously-designated account for such purpose before 11.00 a.m. Paris time such amount as may be required for the purposes of such payment. The Issuer will procure that the bank through which such payment is to be made will supply to the Fiscal Agent by 3.00 p.m. (local time in the city of the Fiscal Agent’s specified office) on the business day in the city of the Fiscal Agent’s specified office before the due date for any such payment an irrevocable confirmation (by authenticated SWIFT message) of its intention to make such payment to be made to the Fiscal Agent. In this Clause, the date on which a payment in respect of the Bonds becomes due means the first date on which the holder of a Bond or Coupon could claim the relevant payment by transfer to an account under the Conditions, but disregarding the necessity for it to be a business day in any particular place of presentation.

Payment to Fiscal Agent. The Issuer will, on each date on which any payment in respect of the Bonds becomes due, transfer to the Fiscal Agent to the previously-designated account for such purpose before 11.00 a.m. Paris time such amount as may be required for the purposes of such payment. The Issuer will procure that the bank through which such payment is to be made will supply to the Fiscal Agent by 3.00 p.m. (local time localtime in the city of the Fiscal Agent’s specified office) on the business day in the city of the Fiscal Agent’s specified office before the due date for any such payment an irrevocable confirmation (by authenticated SWIFT message) of its intention to make such payment to be made to the Fiscal Agent. In this Clause, the date on which a payment in respect of the Bonds becomes due means the first date on which the holder of a Bond or Coupon could claim the relevant payment by transfer to an account under the Conditions, but disregarding the necessity for it to be a business day in any particular place of presentation.