Common use of Settlement Clause in Contracts

Settlement. Settlement pursuant to Conditions 4.1 and 4.2.1(c) of the Settlement Amount, after deduction of any Expenses which the relevant Issuer is authorised to deduct, shall be made by the relevant Issuer or the Programme Agent (on its behalf) on the Settlement Date to the Holder's account in the Relevant Settlement System as specified in the Exercise Notice.

Settlement. Settlement pursuant to Conditions 4.1 and 4.2.1(c) of the Settlement Amount, after deduction of any Expenses which the relevant Issuer is authorised to deduct, shall be made by the relevant Issuer or the Relevant Programme Agent (on its behalf) on the Settlement Date to the Holder's account or Euroclear France Account Holder's account, as the case may be, in the Relevant Settlement System as specified in the Exercise Notice.