Common use of Payments and Paying Agencies Clause in Contracts

Payments and Paying Agencies. (a) In order to provide for the payment of principal of and interest on the Notes as and when the same shall become due and payable, the Issuer will pay to the Fiscal Agent on or before each Interest Payment Date or the Final Maturity or any date fixed for redemption of the Notes, in such coin or currency of the United States as at the time of payment shall be legal tender for the payment of public and private debts, an amount in immediately available funds which (together with any funds then held by any Paying Agent or the Registrar and available for this purpose) shall be sufficient to pay the interest or principal or both, as the case may be, becoming due on such date; provided, however, that if such date is not a Business Day, the Issuer shall make such payment on the next succeeding Business Day. A “Business Day” is any day which is not, in London, England, New York City, or the place or payment of such interest or principal a Saturday, Sunday, a legal holiday or a day on which banking institutions are authorized or obligated by law to close. All sums payable to the Fiscal Agent hereunder shall be paid to such account and with such bank as the Fiscal Agent may from time to time notify to the Issuer and the Guarantor reasonably in advance of the time such sum is due and payable.

Payments and Paying Agencies. (a) In order to provide for the payment of principal of and interest on the Notes as and when the same shall become due and payable, the Issuer will pay to the Fiscal Agent on or before each Interest Payment Date or the Final Maturity or any date fixed for redemption of the Notes, in such coin or currency of the United States as at the time of payment shall be legal tender for the payment of public and private debts, an amount in immediately available funds which (together with any funds then held by any Paying Agent or the Registrar and available for this purpose) shall be sufficient to pay the interest or principal or both, as the case may be, becoming due on such date; provided, however, that if such date is not a Business Day, the Issuer shall make such payment on the next succeeding Business Day. A “Business Day” is any day which is not, in London, England, New York City, or the place or payment of such interest or principal a Saturday, Sunday, a legal holiday or a day on which banking institutions are authorized or obligated by law to close. All sums payable to the Fiscal Agent hereunder shall be paid to such account and with such bank as the Fiscal Agent may from time to time notify to the Issuer Issuer, the US Guarantor and the Finance Guarantor reasonably in advance of the time such sum is due and payable.