Payments to the Subordinated Lender. On each date on which this Agreement requires an amount to be paid by the Issuer, the Issuer shall make the same available to the Subordinated Lender in same day funds (and free of wire transfer fees, banking charges or other similar costs) to such account as specified below or with such bank as the Subordinated Lender shall specify from time to time in writing: Payment to: Swift Code: In Favour of: IBAN/Account No.:
Payments to the Subordinated Lender. On each date on which this Agreement requires an amount to be paid by the Issuer, the Issuer shall make the same available to the Subordinated Lender in same day funds (and free of wire transfer fees, banking charges or other similar costs) to such account as specified below or with such bank as the Subordinated Lender shall specify from time to time in writing: Payment to: HSBC Bank plc. London Swift Code: XXXXXX00XXX In Favour of: Volkswagen International Xxxxxxxxx X.X. IBAN/Account No.: XX00 XXXX 0000 0000 0000 00 Intermediary Bank: no intermediary
Payments to the Subordinated Lender. In the event that the Subordinated Lender receives any dividend, distribution or payment referred to in Section 3 hereof (other than subordinated securities permitted to be received pursuant to Section 3(a)), or receives any payment (of any kind or character) of any Subordinated Debt or security therefor in violation of this Agreement, the Subordinated Lender will (a) not credit such payments against the Subordinated Debt, (b) segregate such dividend, distribution or payment from its other funds and property and hold it in trust for the benefit of the Senior Lender, (c) notify the Senior Lender immediately thereof, and (d) immediately pay and deliver the same to the Senior Lender in precisely the form received, except for any requisite endorsement or assignment, which the Subordinated Lender will make, and authorizes the Senior Lender or any of its officers or employees to make such, in the event that the Subordinated Lender does not make the same. The Senior Lender will apply any such moneys so received by it in reduction of the Senior Debt and hold any property other than moneys so received by it as collateral security for the Senior Debt. In the event that the Subordinated Lender shall obtain any lien, judgment or decree against the Borrower, the Subordinated Lender will immediately assign the same to the Senior Lender, or xxxx the same to the Senior Lender's use. Upon payment and satisfaction in full of the Senior Debt in cash, the Subordinated Lender shall be subrogated to the Senior Lender's rights with respect to the Senior Debt. For purposes of such subrogation, as among the Borrower, its creditors other than the Senior Lender, and the Subordinated Lender, no payment or distribution made to the Senior Lender by virtue of this Agreement which otherwise would have been made to the Subordinated Lender, and no payment over to the Senior Lender pursuant to this Agreement of funds the Subordinated Lender would otherwise be entitled to retain, shall be deemed to be a payment by the Borrower on account of the Senior Debt.
Payments to the Subordinated Lender. On each date on which this Agreement requires an amount to be paid by the Issuer, the Issuer shall make the same available to the Subordinated Lender in same day funds (and free of wire transfer fees, banking charges or other similar costs) to such account as specified below or with such bank as the Subordinated Lender shall specify from time to time in writing:
Payments to the Subordinated Lender. On each date on which this Agreement requires an amount to be paid by the Issuer, the Issuer shall make the same available to the Subordinated Lender in same day funds (and free of wire transfer fees, banking charges or other similar costs) to such account as specified below or with such bank as the Subordinated Lender shall specify from time to time in writing: Payment to: HSBC Bank plc. London Swift Code: In Favour of: Volkswagen Financial Services (UK) Limited IBAN/Account No.:
Payments to the Subordinated Lender. On each date to which this Agreement requires an amount to be paid to the Subordinated Lender, such amount shall be paid no later than close of banking hours in London on the due date.
