Common use of Payments and Deliveries Clause in Contracts

Payments and Deliveries. 10.1 In relation to Structured Products , the Bank shall be discharged from its entire liability in connection with a Structured Product or, if only partially redeemed or terminated, such part thereof on its Settlement Date when the amounts payable or deliverable under Clause 5.1 of this Schedule 1 in connection with such Structured Product are credited to such account as notified by the Customer or if the Bank has not been notified of such account or that such account notified by the Customer has ceased to be operative, to any of the Customer’s account maintained with the Bank as the Bank shall in its absolute discretion determine or by way of cheque or in some other form as determined by the Bank.

Payments and Deliveries. 10.1 In relation to Structured Products Products, the Bank shall be discharged from its entire liability in connection with a Structured Product or, if only partially redeemed or terminated, such part thereof on its Settlement Date when the amounts payable or deliverable under Clause 5.1 5 of this Schedule 1 in connection with such Structured Product are credited to such account as notified by the Customer or if the Bank has not been notified of such account or that such account notified by the Customer has ceased to be operative, to any of the Customer’s account maintained with the Bank as the Bank shall in its absolute discretion determine or by way of cheque or in some other form as determined by the Bank.

Payments and Deliveries. 10.1 In relation to Structured Products Products, the Bank shall be discharged from its entire liability in connection with a Structured Product or, if only partially redeemed or terminated, such part thereof on its Settlement Date when the amounts payable or deliverable under Clause 5.1 of this Schedule 1 in connection with such Structured Product are credited to such account as notified by the Customer or if the Bank has not been notified of such account or that such account notified by the Customer has ceased to be operative, to any of the Customer’s account maintained with the Bank as the Bank shall in its absolute discretion determine or by way of cheque or in some other form as determined by the Bank.