Common use of PAYMENT AND SETTLEMENT Clause in Contracts

PAYMENT AND SETTLEMENT. Notwithstanding anything to the contrary herein, with respect to purchasing Russian equity Securities, payment thereof shall not be made prior to the issuance by the Registrar Company or Russian Securities Depository (as the case may be) of the Share Extract evidencing the transfer of ownership of the Russian Securities being purchased.

PAYMENT AND SETTLEMENT. Notwithstanding anything to the contrary herein, with respect to purchasing Russian equity Securities, payment thereof therefor shall not be made prior to the issuance by the Registrar Company or Russian Securities Depository (as the case may be) of the Share Extract evidencing the transfer of ownership of the Russian Securities being purchased.