Common use of Additional Loan Advances Clause in Contracts

Additional Loan Advances. The sale by the Seller of any Portfolio Assets to the Purchaser shall not include any obligation to pay any Additional Loan Advance (if any), or any other such obligation relating to payment of funds to a Borrower in respect of such Loans which obligation shall at all times, and notwithstanding the sale of such Portfolio Assets to the Purchaser, remain an obligation of the Seller and the Seller shall have the right to fund, or cause the Originator to fund such Additional Loan Advances. The purchase price to be paid by the Guarantor for all Additional Loan Advances in the Covered Bond Portfolio will be Fair Market Value and funded in accordance with the terms of the Intercompany Loan Agreement and the Guarantor Agreement. Each Additional Loan Advance (if any) will be sold and transferred to the Guarantor at the time such Additional Loan Advance is originated and disbursed to the Borrower, and upon transfer to the Guarantor (together with its applicable Related Security) shall be deemed to form part of the applicable Loan and Related Security. To the extent that an Additional Loan Advance is sold to the Guarantor, the amount of the Intercompany Loan will increase by the amount of the funded Additional Loan Advance which satisfies the Deemed Advance Preconditions pursuant to the terms of the Intercompany Loan Agreement and any remaining amount which does not satisfy the Deemed Advance Preconditions shall be deemed to constitute a Capital Contribution by the Seller and the Seller’s interest, as a limited partner in the Guarantor, shall be increased by such amount pursuant to the terms of the Guarantor Agreement. For greater certainty, it is hereby confirmed that all present and future Additional Loan Advances sold to the Guarantor pursuant to the terms hereof will have the benefit of the applicable Related Security and upon sale by the Seller to the Guarantor of any such Additional Loan Advance (together with its applicable Related Security) the Seller shall have no interest therein.

Additional Loan Advances. The sale by the Seller of any Portfolio Assets to the Purchaser shall not include any obligation to pay any Additional Loan Advance (if any), or any other such obligation relating to payment of funds to a Borrower in respect of such Loans which obligation shall at all times, and notwithstanding the sale of such Portfolio Assets to the Purchaser, remain an obligation of the relevant Seller and the Seller shall have the right to fund, or cause the Originator to fund such Additional Loan Advances. The purchase price to be paid by the Guarantor for all All Additional Loan Advances in the Covered Bond Portfolio will be Fair Market Value and funded in accordance with the terms of the Intercompany Loan Agreement and the Guarantor Agreement. Each Additional Loan Advance (if any) , will be sold and transferred to the Guarantor at the time such Additional Loan Advance is originated and disbursed to the Borrower, and upon transfer to the Guarantor (together with its applicable Related Security) shall be deemed to form part of the applicable Loan and Related Security. To the extent that an Additional Loan Advance is sold to the Guarantor, the amount of the Intercompany Loan will increase by the amount of the funded Additional Loan Advance which satisfies the Deemed Advance Preconditions pursuant to the terms of the Intercompany Loan Agreement and any remaining amount which does not satisfy the Deemed Advance Preconditions shall be deemed to constitute a Capital Contribution by the Seller and the Seller’s interest, as a limited partner in the Guarantor, shall be increased by such amount pursuant to the terms of the Guarantor Agreement. For greater certainty, it is hereby confirmed that all present and future Additional Loan Advances sold to the Guarantor pursuant to the terms hereof will have the benefit of the applicable Related Security and upon sale by the Seller to the Guarantor of any such Additional Loan Advance (together with its applicable Related Security) the Seller shall have no interest therein.

Additional Loan Advances. The sale by the Seller of any Portfolio Assets to the Purchaser shall not include any obligation to pay any Additional Loan Advance (if any), or any other such obligation relating to payment of funds to a Borrower in respect of such Loans which obligation shall at all times, and notwithstanding the sale of such Portfolio Assets to the Purchaser, remain an obligation of the relevant Seller and the Seller shall have the right to fund, or cause the Originator to fund such Additional Loan Advances. The purchase price to be paid by the Guarantor for all All Additional Loan Advances in the Covered Bond Portfolio will be Fair Market Value and funded in accordance with the terms of the Intercompany Loan Agreement and the Guarantor Agreement. Each Additional Loan Advance (if any) , will be sold and transferred to the Guarantor at the time such Additional Loan Advance is originated and disbursed to the Borrower, and upon transfer to the Guarantor (together with its applicable Related Security) shall be deemed to form part of the applicable Loan and Related Security. To the extent that an Additional Loan Advance is sold to the Guarantor, the amount of the Intercompany Loan will increase by the amount of the funded Additional Loan Advance which satisfies the Deemed Advance Preconditions pursuant to the terms of the Intercompany Loan Agreement and Agreement, provided that, if for any remaining reason, the Intercompany Loan is not increased at any relevant time such amount which does not satisfy the Deemed Advance Preconditions shall be deemed to constitute a Capital Contribution by the Seller and the Seller’s interest, as a limited partner in the Guarantor, shall be increased by such amount pursuant to the terms of the Guarantor Agreement. For greater certainty, it is hereby confirmed that all present and future Additional Loan Advances sold to the Guarantor pursuant to the terms hereof will have the benefit of the applicable Related Security and upon sale by the Seller to the Guarantor of any such Additional Loan Advance (together with its applicable Related Security) the Seller shall have no interest therein.