Common use of Fee payable Clause in Contracts

Fee payable. (a) Subject to paragraph (b) below, Funding and the Mortgages Trustee, proportionately in accordance with and subject to the applicable Funding Priority of Payments set out in the Funding Deed of Charge and the applicable Priority of Payments for the Mortgages Trustee under the Mortgages Trust Deed, as the case may be, shall pay to the Cash Manager for its Cash Management Services hereunder an annual cash management fee of {pound-sterling}100,000 for its services which will be paid quarterly.

Fee payable. (a) Subject to paragraph (b) below, Funding and the Mortgages Trustee, proportionately in accordance with and subject to the applicable Funding Priority of Payments set out in the Funding Deed of Charge and the applicable Priority of Payments for the Mortgages Trustee under the Mortgages Trust Deed, as the case may be, shall pay to the Cash Manager for its Cash Management Services hereunder an annual cash management fee of {pound-sterling}100,000 (pound)100,000 for its services which will be paid quarterly.