Enforcement When Not All Amounts Due and Payable. If the Issuer Security Trustee enforces the Issuer Security at a time when either no amounts or not all amounts owing in respect of the Issuer Secured Obligations have become due and payable, the Issuer Security Trustee (or a Receiver) may, for so long as no such amounts or not all such amounts have become due and payable, pay any monies referred to in Clause 6 (Payments out of the Issuer Accounts Prior to Acceleration) into, and retain such monies in, an interest-bearing account (a RETENTION ACCOUNT) to be held by it as security and applied by it in accordance with Clause 6 (Payments out of the Issuer Accounts Prior to Acceleration) as and when any of the amounts referred to therein become due and payable.
Appears in 1 contract
Sources: Issuer Deed of Charge (Permanent Funding (No. 2) LTD)
Enforcement When Not All Amounts Due and Payable. If the Issuer Security Trustee enforces the Seventh Issuer Security at a time when either no amounts or not all amounts owing in respect of the Seventh Issuer Secured Obligations have become due and payable, the Issuer Security Trustee (or a Receiver) may, for so long as no such amounts or not all such amounts have become due and payable, pay any monies referred to in Clause CLAUSE 6 (Payments out of the Seventh Issuer Accounts Prior to AccelerationUpon Enforcement) into, and retain such monies in, an interest-bearing account (a RETENTION ACCOUNT) to be held by it as security and applied by it in accordance with Clause CLAUSE 6 (Payments out of the Seventh Issuer Accounts Prior to AccelerationUpon Enforcement) as and when any of the amounts referred to therein become due and payable.
Appears in 1 contract
Sources: Seventh Issuer Deed of Charge (Permanent Mortgages Trustee LTD)
Enforcement When Not All Amounts Due and Payable. If the Issuer Security Trustee enforces the Third Issuer Security at a time when either no amounts or not all amounts owing in respect of the Third Issuer Secured Obligations have become due and payable, the Issuer Security Trustee (or a Receiver) may, for so long as no such amounts or not all such amounts have become due and payable, pay any monies referred to in Clause CLAUSE 6 (Payments out of the Third Issuer Accounts Prior to AccelerationUpon Enforcement) into, and retain such monies in, an interest-bearing account (a RETENTION ACCOUNT) to be held by it as security and applied by it in accordance with Clause CLAUSE 6 (Payments out of the Third Issuer Accounts Prior to AccelerationUpon Enforcement) as and when any of the amounts referred to therein become due and payable.
Appears in 1 contract
Enforcement When Not All Amounts Due and Payable. If the Issuer Security Trustee enforces the Fifth Issuer Security at a time when either no amounts or not all amounts owing in respect of the Fifth Issuer Secured Obligations have become due and payable, the Issuer Security Trustee (or a Receiver) may, for so long as no such amounts or not all such amounts have become due and payable, pay any monies referred to in Clause CLAUSE 6 (Payments out of the Fifth Issuer Accounts Prior to AccelerationUpon Enforcement) into, and retain such monies in, an interest-bearing account (a RETENTION ACCOUNT) to be held by it as security and applied by it in accordance with Clause CLAUSE 6 (Payments out of the Fifth Issuer Accounts Prior to AccelerationUpon Enforcement) as and when any of the amounts referred to therein become due and payable.
Appears in 1 contract
Sources: Fifth Issuer Deed of Charge (Permanent Financing (No. 5) PLC)
Enforcement When Not All Amounts Due and Payable. If the Issuer Security Trustee enforces the Sixth Issuer Security at a time when either no amounts or not all amounts owing in respect of the Sixth Issuer Secured Obligations have become due and payable, the Issuer Security Trustee (or a Receiver) may, for so long as no such amounts or not all such amounts have become due and payable, pay any monies referred to in Clause CLAUSE 6 (Payments out of the Sixth Issuer Accounts Prior to AccelerationUpon Enforcement) into, and retain such monies in, an interest-bearing account (a RETENTION ACCOUNT) to be held by it as security and applied by it in accordance with Clause CLAUSE 6 (Payments out of the Sixth Issuer Accounts Prior to AccelerationUpon Enforcement) as and when any of the amounts referred to therein become due and payable.
Appears in 1 contract
Enforcement When Not All Amounts Due and Payable. If the Issuer Security Trustee enforces the Fourth Issuer Security at a time when either no amounts or not all amounts owing in respect of the Fourth Issuer Secured Obligations have become due and payable, the Issuer Security Trustee (or a Receiver) may, for so long as no such amounts or not all such amounts have become due and payable, pay any monies referred to in Clause CLAUSE 6 (Payments out of the Fourth Issuer Accounts Prior to AccelerationUpon Enforcement) into, and retain such monies in, an interest-bearing account (a RETENTION ACCOUNT) to be held by it as security and applied by it in accordance with Clause CLAUSE 6 (Payments out of the Fourth Issuer Accounts Prior to AccelerationUpon Enforcement) as and when any of the amounts referred to therein become due and payable.
Appears in 1 contract