Common use of Enforcement When Not All Amounts Due and Payable Clause in Contracts

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

Sources: Deed of Charge (Permanent Mortgages Trustee LTD)

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

Sources: Deed of Charge (Permanent Mortgages Trustee LTD)

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

Sources: Deed of Charge (Permanent Mortgages Trustee LTD)