Common use of Payment to the Issuing and Paying Agent Clause in Contracts

Payment to the Issuing and Paying Agent. The Issuer shall, not later than 11.00 a.m. in the principal financial centre for the currency in which the Notes are denominated (or, where the Notes are denominated in euro, in the jurisdiction in which the account specified by the Issuing and Paying Agent is located), on each date on which any payment in respect of the Notes becomes due, transfer to the Issuing and Paying Agent such amount as may be required for the purposes of such payment. In this Clause, the date on which a payment in respect of the Notes becomes due means the first date on which the holder of a Note 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.