Common use of Payments to the Fiscal Agent Clause in Contracts

Payments to the Fiscal Agent. In order to provide for the payment of principal of (and premium, if any) and interest on the Debt Securities of each Series as the same shall become due and payable, Jamaica hereby agrees to deliver to the Fiscal Agent, by 10:00 a.m. (New York time) on the Business Day immediately preceding each Scheduled Payment Date or the Maturity Date (each as defined in the Debt Securities of any Series) of such Debt Securities (each, a “Payment Date”), which shall be a Business Day in New York, an amount in immediately available funds which (together with any amounts then held by the Fiscal Agent and available for that purpose) shall be sufficient to pay the entire amount of principal or interest due for payment on such Payment Date with respect to the Debt Securities. Jamaica shall confirm (by telex or authenticated SWIFT MT 100 Message) on the second Business Day prior to the day payment is due to be made to the Fiscal Agent, which shall be a Business Day in New York, that it has issued irrevocable paying instructions for the transfer of the relevant sum due to the account of the Fiscal Agent. The Fiscal Agent shall make amounts received by it available to the Registrar (as defined in Section 6) and the Paying Agent, as applicable, and the Registrar and the Paying Agent shall hold such funds in trust and apply them to the payment of such principal (and premium, if any) and interest on such Payment Date. Neither the Registrar nor the Paying Agent or the Fiscal Agent shall be required to use its own funds in making any payment on any Debt Securities. 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 Jamaica not less than five Business Days, which shall be Business Days in New York, before any such sum is due and payable, or at such other location as is mutually acceptable to Jamaica and the Fiscal Agent. Payments to holders of Debt Securities of each Series shall be made by the Fiscal Agent in accordance with the Debt Securities of such Series.

Payments to the Fiscal Agent. In order to provide for the payment of principal of (and premium, if any) and interest on the Debt Securities of each Series as the same shall become due and payable, Jamaica hereby agrees to deliver to the Fiscal Agent, by 10:00 a.m. (New York time) on the Business Day immediately preceding each Scheduled Payment Date or the Maturity Date (each as defined in the Debt Securities of any Series) of such Debt Securities (each, a “Payment Date”), which shall be a Business Day in New York, an amount in immediately available funds which (together with any amounts then held by the Fiscal Agent and available for that purpose) shall be sufficient to pay the entire amount of principal or interest due for payment on such Payment Date with respect to the Debt Securities. Jamaica shall confirm (by telex facsimile or authenticated SWIFT MT 100 Messageelectronic mail with portable document format) on the second Business Day prior to the day payment is due to be made to the Fiscal Agent, which shall be a Business Day in New York, that it has issued irrevocable paying instructions for the transfer of the relevant sum due to the account of the Fiscal Agent. The Fiscal Agent shall make amounts received by it available to the Registrar (as defined in Section 6) and the Paying Agent, as applicable, and the Registrar and the Paying Agent shall hold such funds in trust and apply them to the payment of such principal (and premium, if any) and interest on such Payment Date. Neither the Registrar nor the Paying Agent or the Fiscal Agent shall be required to use its own funds in making any payment on any Debt Securities. 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 Jamaica not less than five Business Days, which shall be Business Days in New York, before any such sum is due and payable, or at such other location as is mutually acceptable to Jamaica and the Fiscal Agent. Payments to holders of Debt Securities of each Series shall be made by the Fiscal Agent in accordance with the Debt Securities of such Series.