Withdrawals for Dollar Notes Clause Samples
The 'Withdrawals for Dollar Notes' clause defines the terms and procedures under which parties can withdraw physical U.S. dollar banknotes from an account or facility. Typically, this clause outlines the requirements for making such withdrawals, such as advance notice, minimum or maximum withdrawal amounts, and any applicable fees or restrictions. For example, it may specify that withdrawals must be requested at least two business days in advance and are subject to availability of notes in certain denominations. The core function of this clause is to provide clear guidelines for accessing cash in the form of dollar notes, thereby ensuring operational efficiency and reducing the risk of misunderstandings or disputes regarding cash withdrawals.
Withdrawals for Dollar Notes. On each Interest Payment Date (or as specified in the applicable terms document) with respect to each tranche of Dollar Notes, an amount equal to the interest due on the applicable tranche of Notes on such Interest Payment Date (including any overdue and additional interest with respect to prior Interest Payment Dates) will be withdrawn from that Interest Funding sub-Account and remitted to the applicable Paying Agent(s) or as otherwise provided in the applicable terms document.
Withdrawals for Dollar Notes. On each applicable Principal Payment Date (or as much earlier as specified in the applicable terms document) with respect to each tranche of Dollar Notes which has no Derivative Agreement for principal, an amount equal to the lesser of (i) principal due on the applicable tranche of Notes on the applicable Principal Payment Date, and (ii) the amount on deposit in the applicable Principal Funding sub-Account will be withdrawn from such Principal Funding sub- Account and remitted to the applicable Paying Agent(s).