Examples of Variable Funding Note in a sentence
Variable funding notes (“VFN”)—An arrangement that allows for drawings on a revolving basis and have been issued pursuant to the Variable Funding Note Purchase Agreement.
For so long as the sole holder of any Class Z Variable Funding Note is Santander UK plc, the Master Issuer Cash Manager may, on behalf of the Master Issuer and if so requested by Santander UK plc, make payments in respect of that Class Z Variable Funding Note directly to Santander UK plc as the Class Z Variable Funding Noteholder rather than the Principal Paying Agent or the Registrar subject to the provision of Clause 6.1(b) of the Master Issuer Paying Agent and Agent Bank Agreement.
Except as provided in any Variable Funding Note Purchase Agreement executed and delivered in connection with the issuance of any Series or any Class of any Series of Notes, the Co-Issuers may not issue new Notes to replace Notes that they have redeemed or paid or that have been delivered to the Trustee for cancellation.
All distributions, allocations, remittances and payments to be made by the Trustee or the Paying Agent hereunder or under any Supplement or Variable Funding Note Purchase Agreement shall be made based solely upon the most recently delivered written reports and instructions provided to the Trustee or Paying Agent, as the case may be, by the Manager.
The Indenture Documents, the Collateral Transaction Documents, the Account Agreements, the Depository Agreements, any Variable Funding Note Purchase Agreement, any Swap Contract, any Series Hedge Agreement and any Enhancement Agreement with respect to each Series of Notes are in full force and effect.