Common use of EARLY TERMINATION OF THE MORTGAGES TRUST Clause in Contracts

EARLY TERMINATION OF THE MORTGAGES TRUST. On giving not more than 61 nor less than 31 days' notice to Funding, the Seller may pay to Funding the Termination Price in exchange for the Funding Share of the Trust Property if the aggregate Outstanding Principal Balance under all Intercompany Loan Agreements is at any time less than 10 per cent. of the aggregate Outstanding Principal Balance of all Intercompany Loan Agreements as at the respective drawdown dates thereof. Thereafter, the Mortgages Trustee shall hold the Trust Property for the Seller absolutely, freed and released from the Mortgages Trust.

EARLY TERMINATION OF THE MORTGAGES TRUST. On giving not more than 61 nor less than 31 days' notice to Funding, the Seller may pay to Funding the Termination Price in exchange for the Funding Share of the Trust Property if the aggregate Outstanding Principal Balance under all Intercompany Loan Agreements is at any time less than 10 per cent. of the aggregate Outstanding Principal Balance of all Intercompany Loan Agreements as at the respective drawdown dates thereof. Thereafter, the Mortgages Trustee shall hold the Trust Property for the Seller absolutely, freed and released from the Mortgages Trust.

EARLY TERMINATION OF THE MORTGAGES TRUST. On giving not more than 61 nor less than 31 days' notice to Funding, the Beneficiaries agree that the Seller may pay to Funding the Termination Price in exchange for the Funding Share of the Trust Property if the aggregate Outstanding Principal Balance under all Intercompany Loan Agreements is at any time less than 10 per cent. of the aggregate Outstanding Principal Balance of all Intercompany Loan Agreements as at the respective drawdown dates thereof. Thereafter, the Mortgages Trustee shall hold the Trust Property for the Seller absolutely, freed and released from the Mortgages Trust.