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no interest shall be payable on any compensation payment .
no interest shall be payable on any compensation payment .

without prejudice to the abovementioned increase or reduction of the guarantee , the guarantee shall be irrevocable , unconditional and payable on first demand .
without prejudice to the abovementioned increase or reduction of the guarantee , 2007d0007 --- pl --- 12.05.2010 --- 003.001 --- 20 ▼m2 the guarantee shall be irrevocable , unconditional and payable on first demand .

if this is not the case , only the liquidity available on the pm account shall be reserved .
if this is not the case , only the liquidity available on the pm account shall be reserved .

up-to-date information on the ssp 's operational status shall be available on the target2 information system ( t2is ) .
up-to-date information on the ssp 's operational status shall be available on the target2 information system ( t2is ) .

the participant shall be responsible for sending such backup lump sum payments exclusively to other participants with which it has bilaterally agreed on the use of such payments and for any further steps in relation to such payments .
the participant shall be responsible for sending such backup lump sum payments exclusively to other participants with which it has bilaterally agreed on the use of such payments and for any further steps in relation to such payments .

payment shall be made at the latest on the tenth working day of that month to the account specified by the ecb and shall be debited from that participant 's pm account .
payment shall be made at the latest on the tenth working day of that month to the account specified by the ecb and shall be debited from that participant 's pm account .

and ( iii ) no interest compensation shall be payable if and in so far as funds resulting from non-settled payment orders were placed in the market or used to fulfil minimum reserve requirements .
and ( iii ) no interest compensation shall be payable if and in so far as funds resulting from non-settled payment orders were placed in the market or used to fulfil minimum reserve requirements .

if an offsetting payment order does not provide sufficient funds for the respective payer 's payment order in the entry disposition , it shall be determined whether there is sufficient available liquidity on the payer 's pm account .
if an offsetting payment order does not provide sufficient funds for the respective payer 's payment order in the entry disposition , it shall be determined whether there is sufficient available liquidity on the payer 's pm account .

procedural rules ( a ) a claim for compensation shall be submitted on the claim form available on the website of the ecb in english ( see www.ecb.int ) .
procedural rules ( a ) a claim for compensation shall be submitted on the claim form available on the website of the ecb in english ( see www.ecb.int ) .

unless instructing participants have indicated the settlement time in the manner described in article 16 , accepted payment orders shall be settled immediately or at the latest by the end of the business day on which they were accepted , provided that sufficient funds are available on the payer 's pm account and taking into account any liquidity limits and liquidity reservations as referred to in articles 14 and 15 .
unless instructing participants have indicated the settlement time in the manner described in article 16 , accepted payment orders shall be settled immediately or at the latest by the end of the business day on which they were accepted , provided that sufficient funds are available on the payer 's pm account and taking into account any liquidity limits and liquidity reservations as referred to in articles 14 and 15 .

( ii ) the method set out in subparagraph ( a )( ii ) for calculating interest compensation shall apply except that interest compensation shall be payable at a rate equal to the difference between the marginal lending rate and the reference rate , and shall be calculated on the amount of any recourse to the marginal lending facility occurring as a result of the technical malfunction of target2 .
( ii ) the method set out in subparagraph ( a )( ii ) for calculating interest compensation shall apply except that interest compensation shall be payable at a rate equal to the difference between the marginal lending rate and the reference rate , and shall be calculated on the amount of any recourse to the marginal lending facility occurring as a result of the technical malfunction of target2 .

2007d0007 --- da --- 12.05.2010 --- 003.001 --- 41 ▼b the gross value of the as 's euro cash settlement transactions shall be calculated by the ascb once a year on the basis of such gross value during the previous year and the calculated gross value shall be applied for calculating the fee as from 1 january of each calendar year .
2007d0007 --- pl --- 12.05.2010 --- 003.001 --- 42 ▼b the gross value of the as 's euro cash settlement transactions shall be calculated by the ascb once a year on the basis of such gross value during the previous year and the calculated gross value shall be applied for calculating the fee as from 1 january of each calendar year .