Examples of Designated Bank in a sentence
Notwithstanding the previous sentence and subject to Condition 7.10, if (i) a holder does not have a Designated Account or (ii) the principal amount of the Notes held by a holder is less than U.S.$250,000 (or its approximate equivalent in any other Specified Currency), payment may instead be made by a cheque in the Specified Currency drawn on a Designated Bank (as defined below).
The Authority or its Account Bank shall make the payment of all due and payable amounts to the Concessionaire into the Designated Bank Account in accordance with clause 15.4. The Concessionaire shall, in advance, advise the Bank on the amounts payable along with other supporting documents as required.
Notwithstanding the previous sentence, if (i) a holder does not have a Designated Account or (ii) the principal amount of the Notes held by a holder is less than U.S.$250,000 (or its approximate equivalent in any other Specified Currency), payment will instead be made by a cheque in the Specified Currency drawn on a Designated Bank (as defined below).
Notwithstanding the previous sentence, if (i) a holder does not have a Designated Account, or (ii) the principal amount of the Registered Notes held by a holder is less than U.S.$250,000 (or its approximate equivalent in any other Specified Currency), payment will instead be made by a cheque in the Specified Currency drawn on a Designated Bank (as defined below).
The annual audit report of the Designated Bank Account shall include an opinion as to the compliance, or otherwise, of the accounting system utilized, with the standards established in section 11.4 of the Indenture.