PERFECTION AND DIRECTIONS AS TO PAYMENT. 6.1 Each payment due to the Transferor pursuant to the acceptance of an Offer in accordance with Clause 3.4 in respect of Existing Receivables shall be satisfied by payment into the Barclaycard Proceeds Account, such payment when so made to constitute payment by the Receivables Trustee to the Transferor by way of acceptance of the Offer in respect of which the payment is made pursuant to Clause 3.4.
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Samples: And Restatement Agreement (Barclaycard Funding PLC), Restatement Agreement (Gracechurch Receivables Trustee LTD), And Restatement Agreement (Gracechurch Receivables Trustee LTD)