Common use of Pre-advice of Payment Clause in Contracts

Pre-advice of Payment. The Issuer shall ensure that no later than 10.00 am (local time in the city of the Issuing and Paying Agent’s specified office) on the second Business Day preceding the date on which any payment is to be made to the Issuing and Paying Agent pursuant to Clause 4.1 (Payment to the Issuing and Paying Agent), the Issuing and Paying Agent shall receive a copy of an irrevocable payment instructions from the Issuer to the bank through which the payment is to be made, or a tested telex or authenticated SWIFT confirmation from such bank, in any such case, confirming the relevant account details, the amount to be paid and the value date for such payment.

Pre-advice of Payment. The Issuer shall ensure that no later than 10.00 am (local time in the city of the Issuing and Paying Agent’s 's specified office) on the second Business Day preceding the date on which any payment is to be made to the Issuing and Paying Agent pursuant to Clause 4.1 (Payment to the Issuing and Paying Agent), the Issuing and Paying Agent shall receive a copy of an irrevocable payment instructions from the Issuer to the bank through which the payment is to be made, or a tested telex or authenticated SWIFT confirmation from such bank, in any such case, confirming the relevant account details, the amount to be paid and the value date for such payment.