Common use of Repayment of advance Clause in Contracts

Repayment of advance. If the Fiscal Agent or, as the case may be, the Registrar should pay an amount (an "advance") to the Issuer in the belief that a payment has been or will be received from a Dealer, and if such payment is not received by the Fiscal Agent, or as the case may be, the Registrar on the date that the Fiscal Agent, or as the case may be, the Registrar pays the Issuer, the Issuer shall forthwith repay the advance (unless prior to such repayment the payment is received from the Dealer) and shall pay interest on such amount which shall accrue (as well after as before judgment) on the basis of a year of 365 days (366 days in the case of a leap year) in the case of an advance paid in sterling or 360 days in the case of an advance paid in any other currency and, in either case, the actual number of days elapsed from the date of payment of such advance until the earlier of (i) repayment of the advance or (ii) receipt by the Fiscal Agent, or as the case may be, the Registrar of the payment from the Dealer, and at the rate per annum certified in writing by the Fiscal Agent, or as the case may be, the Registrar as reflecting its cost of funds for the time being in relation to the unpaid amount.

Repayment of advance. If the Fiscal Agent or, as the case may be, the Registrar should pay an amount (an "advance") to the Issuer in the belief that a payment has been or will be received from a Dealer, and if such payment is not received by the Fiscal Agent, or as the case may be, the Registrar Agent on the date that the Fiscal Agent, or as the case may be, the Registrar Agent pays the Issuer, the Issuer Fiscal Agent shall promptly inform the relevant Dealer and request such Dealer to make good the payment, failing which the Issuer, upon being requested to do so, shall forthwith repay the advance (unless prior to such repayment the payment is received from the Dealer) and shall pay interest on such amount which shall accrue (as well after as before judgment) on the basis of a year of 365 days (366 days in the case of a leap year) in the case of an advance paid in sterling or 360 days in the case of an advance paid in any other currency and, in either case, the actual number of days elapsed from the date of payment of such advance until the earlier of (i) repayment of the advance or (ii) receipt by the Fiscal Agent, or as the case may be, the Registrar Agent of the payment from the Dealer, and at the rate per annum which reflects the rate certified in writing by the Fiscal Agent, or as the case may be, the Registrar Agent as reflecting its cost of funds for the time being in relation to the unpaid amount.