Common use of Payments by the Agent Clause in Contracts

Payments by the Agent. Save as otherwise provided herein, each payment received by the Agent for the account of another person pursuant to clause 20.2 shall be made available by the Agent (subject, without any liability therefor, for delays outside the Agent's control in crediting cleared funds) to such other person (in the case of a Lender, for the account of its Facility Office) for value the same day (provided that such payment has been received by the Agent by no later than 12.00 noon) by transfer to such account of such person with such bank in the principal financial centre of the country of the currency of such payment as such person shall have previously notified to the Agent or (in the case of a Borrower) in the agreed currency denomination to the account of that Borrower specified in the Utilisation Notice.

Payments by the Agent. 20.3 Save as otherwise provided herein, each payment received by the Agent for the account of another person pursuant to clause Clause 20.2 (Payments by the Borrowers and the Lenders) shall be made available by the Agent (subject, without any liability therefor, for delays outside the Agent's ’s control in crediting cleared funds) to such other person (in the case of a Lender, for the account of its Facility Office) for value the same day (provided that such payment has been received by the Agent by no later than 12.00 noon) by transfer to such account of such person with such bank in the principal financial centre of the country of the currency of such payment as such person shall have previously notified to the Agent or (in the case of a Borrower) in the agreed currency denomination to the account of that Borrower specified in the Utilisation Notice.