Common use of Guarantee Priority of Payments Clause in Contracts

Guarantee Priority of Payments. (1) If a Notice to Pay is served on the Partnership, the Managing GP will, on the Final Maturity Date for any Series of Hard Bullet Covered Bonds, apply all funds standing to the credit of the Pre-Maturity Liquidity Ledger (and, if applicable, transferred to the Transaction Account on the relevant Guarantor Payment Date) to repay such Series of Hard Bullet Covered Bonds.

Guarantee Priority of Payments. (1) If a Notice to Pay is served on the Partnership, the Managing GP will, on the Final Maturity Date for any Series of Hard Bullet Covered Bonds, apply all funds standing to the credit of the Pre-Maturity Liquidity Ledger (and, if applicable, and transferred to the Transaction Account on the relevant Guarantor Payment Date) to repay such Series of Hard Bullet Covered Bonds.

Guarantee Priority of Payments. (1) If a Notice to Pay is served on the Partnership, the Managing GP will, will on the relevant Final Maturity Date for any Series of Hard Bullet Covered Bonds, apply all the funds standing to the credit of the Pre-Maturity Liquidity Ledger in respect of such Series of Hard Bullet Covered Bonds (and, if applicable, transferred to the Transaction Account on the relevant Guarantor Payment Date) to repay such Series of Hard Bullet Covered Bonds.

Guarantee Priority of Payments. (1a) If a Notice to Pay is served on the Partnership, the Managing GP will, on the Final Maturity Date for any Series of Hard Bullet Covered Bonds, apply all funds standing to the credit of the Pre-Maturity Liquidity Ledger (and, if applicable, and transferred to the Transaction Account on the relevant Guarantor Payment Date) to repay such Series of Hard Bullet Covered Bonds.