Common use of Reimbursement by Issuer Clause in Contracts

Reimbursement by Issuer. If the New York Paying Agent makes a payment in respect of the Notes at a time at which the New York Paying Agent has not received the full amount of the relevant payment due to it from the Issuer under Clause 6.1, the Issuer shall from time to time on demand pay to the New York Paying Agent: 7.5.1 the amount so paid out by the New York Paying Agent and not so reimbursed to it; and 7.5.2 interest on such amount from the date on which the New York Paying Agent made such payment until the date of reimbursement of such amount, provided, however, that any payment made under Clause 7.5.1 above shall satisfy pro tanto the Issuer's obligations under Clause 6.1.

Appears in 7 contracts

Samples: Paying Agency and Agent Bank Agreement (Barclaycard Funding PLC), Paying Agency and Agent Bank Agreement (Gracechurch Receivables Trustee LTD), Paying Agency and Agent Bank Agreement (Gracechurch Receivables Trustee LTD)

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