Payment to the Principal Paying Agent. 4.1 The Issuer shall, not later than 10.00 a.m. (Milan time) on each date on which any payment of principal, premium and/or interest in respect of any of the Securities becomes due, transfer to an account specified by the Principal Paying Agent such amount of euro as shall be sufficient for the purposes of the payment of principal, premium and/or interest in immediately available funds.
4.2 The Issuer shall ensure that, not later than the second Business Day immediately preceding the date on which any payment is to be made to the Principal Paying Agent pursuant to sub-clause 4.1, the Principal Paying Agent shall receive a payment confirmation by fax or SWIFT from the Issuer.
4.3 The Issuer shall notify the Principal Paying Agent and the Trustee at least five, but not more than 30, Business Days prior to:
4.3.1 any Interest Payment Date in respect of which the Issuer elects (pursuant to Condition 4.2(a) (Interest Deferral - Optional Interest Deferral)) to defer (in whole but not in part), the payment of interest accrued in respect of the Securities during the Interest Period ending immediately prior to such Interest Payment Date; and
4.3.2 any date upon which Arrears of Interest shall become due and payable in accordance with and subject to Condition 4.2(b) (Interest Deferral – Optional Settlement of Arrears of Interest) and Condition 4.2(c) (Interest Deferral – Mandatory Settlement of Arrears of Interest).
4.4 The Issuer shall notify the Principal Paying Agent and the Trustee at least 10 but not more than 60 Business Days' prior to the exchange or variation of the Securities in accordance with Condition 7 (Exchange or Variation upon a Withholding Tax Event, Tax Deductibility Event, Rating Methodology Event or Accounting Event and Preconditions to such Exchange or Variation), specifying the date fixed for such exchange or variation.
4.5 In the event that the Issuer determines in its sole discretion that any deduction or withholding for or on account of any Tax will be required by Applicable Law in connection with any payment due to any of the Agents on any Securities, then the Issuer will be entitled to re-direct or reorganise any such payment in any way that it sees fit in order that the payment may be made without such deduction or withholding provided that, any such redirected or reorganised payment is made through a recognised institution of international standing and otherwise made in accordance with this Agreement and the Trust Deed. The Issuer will p...
Payment to the Principal Paying Agent. 4.1 The Issuer shall, not later than 10.00 a.m. (Milan time) on each date on which any payment of principal, premium and/or interest in respect of any of the Securities becomes due, transfer to an account specified by the Principal Paying Agent such amount of euro as shall be sufficient for the purposes of the payment of principal, premium and/or interest in immediately available funds.
4.2 The Issuer shall ensure that, not later than the second Business Day immediately preceding the date on which any payment is to be made to the Principal Paying Agent pursuant to sub-clause 4.1, the Principal Paying Agent shall receive a payment confirmation by fax or SWIFT from the Issuer.
4.3 The Issuer shall notify the Principal Paying Agent and the Trustee at least five, but not more than 30, Business Days prior to:
4.3.1 any Interest Payment Date in respect of which the Issuer elects (pursuant to Condition 4.2(a) (Interest Deferral - Optional Interest Deferral)) to defer (in whole but not in part), the payment of interest accrued in respect of the Securities during the Interest Period ending immediately prior to such Interest Payment Date; and
4.3.2 any date upon which Arrears of Interest shall become due and payable in accordance with and subject to Condition 4.2(b) (Interest Deferral – Optional Settlement of Arrears of Interest) and Condition 4.2(c) (Interest Deferral –
Payment to the Principal Paying Agent. By no later than 8.00 PM CET on the date preceding each date on which any payment in respect of the Notes becomes due, transfer to the Principal 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. The Fiscal Agent shall give written notice to the Issuer, not less than 10 Business Days prior to each date on which any payment in respect of any Notes becomes due of the amount due in respect of such Notes on such date and the account into which such amount should be paid.
Payment to the Principal Paying Agent. 4.1 The Issuer shall, by no later than 10.00 a.m. (CET) on each date on which any payment of principal or interest in respect of any of the Notes becomes due under the Conditions, transfer to an account specified by the Principal Paying Agent from time to time such amount in euro in immediately available or same day funds as shall be sufficient for the purposes of the payment of principal and/or interest in funds.
4.2 The Issuer shall ensure that, no later than 10.00 a.m. (CET) on the second Business Day immediately preceding the date on which any payment is to be made to the Principal Paying Agent under Clause 4.1, the Principal Paying Agent shall receive a copy of an irrevocable payment instruction to the bank through which the payment is to be made. For the purposes of this Clause 4.2, “Business Day” means a day on which commercial banks and foreign exchange markets settle payments and are open for general business in the Netherlands and the United Kingdom.
Payment to the Principal Paying Agent. Subject to Clause 5.12, the lssuer shall (i) by 3:00 p.m. (local time in the city of the Principal Paying Agent’s Specified Office) two Business Days prior to any date on which any payment in respect of the Notes is scheduled to become due, procure that the bank through which payment to the Principal Paying Agent required by this Clause 5.1 is to be made shall irrevocably confirm payment details to the Principal Paying Agent by authenticated SWIFT message and (ii) one Business Day prior to any date on which any payment in respect of the Notes becomes due, transfer to the Principal 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 could claim the relevant payment by transfer to an account under the Conditions.
Payment to the Principal Paying Agent. The Issuer will, before 10.00 a.m. (local time in the relevant financial centre of the payment) on each date on which any payment in respect of any Security becomes due under the Conditions, transfer to an account specified by the Principal Paying Agent such amount in euro as shall be sufficient for the purposes of such payment in funds settled through such payment system as the Principal Paying Agent and the Issuer may agree.
Payment to the Principal Paying Agent. 6.1 In order to provide for the payment of the Dissolution Amount and the Periodic Distribution Amounts in respect of each Series of Trust Certificates as the same become due and payable, the relevant Trustee shall pay or cause to be paid to the Principal Paying Agent, on the relevant Dissolution Date or each Periodic Distribution Date of the relevant Series, as the case may be, an amount equal to the relevant Dissolution Amount or the relevant Periodic Distribution Amount falling due and payable (pursuant to the Conditions) on such date. The Principal Paying Agent shall notify the relevant Trustee and the IsDB in the event that in respect of the relevant Dissolution Date and any Periodic Distribution Date in respect of any Series, as the case may be, the full amount of the relevant Dissolution Amount and/or relevant Periodic Distribution Amount (as the case may be) falling due on such Dissolution Date or on such Periodic Distribution Date is not received by it in cleared funds by 4.00 p.m. (London time) on such day (which notice shall specify the amount of any shortfall between the amount so falling due and the amount actually received).
6.2 The relevant Trustee shall ensure that each amount payable under Clause 6.1 shall be paid unconditionally by wire transfer by 10.00 a.m. (London time) in a specified currency and in same day, freely transferable, cleared funds on the relevant day to such account maintained in London as the Principal Paying Agent may from time to time by notice to the relevant Trustee specify for such purpose. Unless otherwise agreed as aforesaid, the relevant Trustee shall procure that, before 10.00 a.m. (London time) on the second Business Day before the due date of each payment by it under Clause 6.1, the bank effecting payment for it confirms by tested telex or authenticated SWIFT message to the Principal Paying Agent the payment instructions relating to such payment.
6.3 The Principal Paying Agent shall be entitled to deal with each amount paid to it under this Clause 6 in the same manner as other amounts paid to it as a banker by its customers provided, however, that
(a) Liens: it shall not exercise against the relevant Trustee or the IsDB any lien, right of set-off or similar claim in respect thereof;
(b) Transaction Account: amounts shall be paid into the relevant Transaction Account, which is segregated, such that moneys will not be mixed with other funds; and
(c) Profit: it shall not be liable to any person for profit thereon...
Payment to the Principal Paying Agent. The Issuer (or, in default, the Guarantor) shall by 10.00 a.m. (London time) on the Business Day (in the place of the Principal Paying Agent) prior to each date on which any payment in respect of the Bonds becomes due, transfer to the Principal Paying Agent, or to its order in accordance with Clause 4.6, such amount as may be required for the purposes of such payment. The Issuer or, as the case may be, the Guarantor shall procure that the bank through which the payment to the Principal Paying Agent is to be made shall irrevocably confirm to the Principal Paying Agent by 11.00 a.m. (London time) on the second Business Day (in the place of the Principal Paying Agent) before the due date for any such payment that such payment will be made, in this Clause 4.1, the date on which a payment in respect of the Bonds becomes due means the date on which the relevant payment becomes due under the Conditions.
Payment to the Principal Paying Agent. 4.1 The Issuer or, failing the Issuer, the Guarantor shall, not later than 10.00 a.m. (London time) on the London Business Day preceding each date on which any payment of principal and/or interest in respect of any of the Notes becomes due (subject always, for the avoidance of doubt, to the provisions of Condition 7(e) (Payments only on a Presentation Date), transfer to an account specified by the Principal Paying Agent such amount of euros as shall be sufficient for the purposes of the payment of principal and/or interest in immediately available funds.
4.2 The Issuer or, as the case may be, the Guarantor shall ensure that, not later than 10.00 a.m. (London time) on the London Business Day immediately preceding the date on which any payment is to be made to the Principal Paying Agent pursuant to subclause 4.1, the Principal Paying Agent shall receive a copy of an irrevocable payment instruction to the bank through which the payment is to be made. For the purposes of this subclause 4.2, London Business Day means a day on which banks are open for business in London and is also a TARGET Settlement Day.
4.3 No Agent shall be obliged to make payment on the Notes until satisfied that full payment by or on behalf of the Issuer has been received, in immediately available, cleared funds.
Payment to the Principal Paying Agent. 4.1 The Issuer or, failing the Issuer, the Guarantors shall, not later than 10.00 a.m. (Milan time) on each date on which any payment of principal and/or interest in respect of any of the Notes becomes due, transfer to an account specified by the Principal Paying Agent such amount of euro as shall be sufficient for the purposes of the payment of principal and/or interest in immediately available, freely transferable, cleared funds. Any payment in euro shall be settled through the TARGET2 System.
4.2 The Issuer or, as the case may be, the Guarantors shall ensure that, not later than 10.00 a.m. (Luxembourg time) on the second Luxembourg Business Day immediately preceding the date on which any payment is to be made to the Principal Paying Agent pursuant to subclause 4.1, the Principal Paying Agent shall receive a copy of an irrevocable payment instruction to the bank through which the payment is to be made. For the purposes of this subclause 4.2, Luxembourg Business Day means a day on which banks are open for business in Luxembourg.
4.3 For the avoidance of doubt, the Principal Paying Agent shall have no obligation to make any payments unless and until it has been able to confirm receipt of funds from the Issuer or the Guarantors to its satisfaction.
