Template:IETA Master Agreement Payment Due Date

“Payment Due Date” means either the date specified in the Confirmation or, if none is so specified, the relevant elective specified in Schedule 2 (Elections) and, if no election is made there, the fifth (5th) Banking Day after the later of (a) the Delivery Date and (b) the date on which the Statementis delivered to the Receiving Party in accordance with Clause 9.2 (Statement), subject to the provisions of Clause 12 (Transfer or Acceptance Failure) and Clause 13.4 (Suspension Event) in which case the Payment Due Date shall be measured accordingly from the Delayed Delivery Date (such Payment Due Date being the “Delayed Payment Due Date”).