Common use of Payment to the Principal Paying Agent Clause in Contracts

Payment to the Principal Paying Agent. 4.1 The Issuer shall, not later than 10.00 a.m. (Milan time) on each date on which any payment of principal, premium and/or interest in respect of any of the Securities becomes due, transfer to an account specified by the Principal Paying Agent such amount of euro as shall be sufficient for the purposes of the payment of principal, premium and/or interest in immediately available funds.

Payment to the Principal Paying Agent. 4.1 The Issuer shall, not by no later than 10.00 a.m. (Milan timeCET) on each date on which any payment of principal, premium and/or principal or interest in respect of any of the Securities Notes becomes duedue under the Conditions, transfer to an account specified by the Principal Paying Agent from time to time such amount of in euro in immediately available or same day funds as shall be sufficient for the purposes of the payment of principal, premium principal and/or interest in immediately available funds.

Payment to the Principal Paying Agent. 4.1 The Issuer shallwill, not later than before 10.00 a.m. (Milan timelocal time in the relevant financial centre of the payment) on each date on which any payment of principal, premium and/or interest in respect of any of Security becomes due under the Securities becomes dueConditions, transfer to an account specified by the Principal Paying Agent such amount of in euro as shall be sufficient for the purposes of such payment in funds settled through such payment system as the payment of principal, premium and/or interest in immediately available fundsPrincipal Paying Agent and the Issuer may agree.