Common use of Investor Trustee Payment Amount Clause in Contracts

Investor Trustee Payment Amount. The Loan Note Issuer hereby undertakes to the Receivables Trustee for the benefit of itself and as trustee for each other Beneficiary (by way of a contractual obligation owed by the Investor Beneficiary to no other person and not as part of the terms of the Receivables Trust) that it will pay, by way of Additional Consideration in accordance with Clause 3(c) (identified as "TRUSTEE PAYMENT AMOUNT") to the Receivables Trustee the share of the Aggregate Trustee Payment Amount payable pursuant to Clause 7.15 of the Receivables Trust Deed and Trust Cash Management Agreement to be met by the Beneficiaries in the circumstances and in the manner set out above in this Part 4 of the Schedule. The amount of any such payment to be made by the Beneficiaries to the Receivables Trustee shall not exceed an amount equal to the amount of monies available for such purpose as set out in this Part 4 of the Schedule. Any amount payable under this paragraph (b) shall be inclusive of VAT thereon if applicable. To the extent necessary the Receivables Trustee is hereby authorised to make such payments described above on the Investor Beneficiary's behalf.

Appears in 2 contracts

Samples: Management Agreement (Arran Funding LTD), Management Agreement (Arran Funding LTD)

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Investor Trustee Payment Amount. The Loan Note Issuer hereby undertakes to the Receivables Trustee for the benefit of itself and as trustee for each other Beneficiary (by way of a contractual obligation owed by the Loan Note Issuer as Series 2007-1 Investor Beneficiary to no other person and not as part of the terms of the Receivables Trust) that it will pay, pay by way of Additional Consideration in accordance with Clause 3(c) (identified as "TRUSTEE PAYMENT AMOUNT") such amount being the ‘‘Investor Trustee Payment Amount’’), to the Receivables Trustee from its own resources in the circumstances and manner set out in Part 2 of the Schedule, the share of the Aggregate Trustee Payment Amount payable pursuant to Clause 7.15 of the Receivables Trust Deed and Trust Cash Management Servicing Agreement to be met by the Beneficiaries in the circumstances and in the manner set out above in this Part 4 3 of the Schedule. The amount of any such payment to be made by the Beneficiaries Series 2007-1 Investor Beneficiary to the Receivables Trustee shall not exceed an amount equal to the amount of monies available for such purpose as set out in this Part 4 3 of the Schedule. Any amount payable under this paragraph (bClause 11(b) shall be inclusive of VAT thereon if applicable. To the extent necessary the Receivables Trustee is hereby authorised to make such payments described above on the Investor Beneficiary's behalf.

Appears in 1 contract

Samples: Turquoise Funding I LTD

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Investor Trustee Payment Amount. The Loan Note Issuer hereby undertakes to the Receivables Trustee for the benefit of itself and as trustee for each other Beneficiary (by way of a contractual obligation owed by the Loan Note Issuer as Series 2006-2 Investor Beneficiary to no other person and not as part of the terms of the Receivables Trust) that it will pay, pay by way of Additional Consideration in accordance with Clause 3(c) (identified as "TRUSTEE PAYMENT AMOUNT") such amount being the ‘‘Investor Trustee Payment Amount’’), to the Receivables Trustee from its own resources in the circumstances and manner set out in Part 2 of the Schedule, the share of the Aggregate Trustee Payment Amount payable pursuant to Clause 7.15 of the Receivables Trust Deed and Trust Cash Management Servicing Agreement to be met by the Beneficiaries in the circumstances and in the manner set out above in this Part 4 3 of the Schedule. The amount of any such payment to be made by the Beneficiaries Series 2006-2 Investor Beneficiary to the Receivables Trustee shall not exceed an amount equal to the amount of monies available for such purpose as set out in this Part 4 3 of the Schedule. Any amount payable under this paragraph (bClause 11(b) shall be inclusive of VAT thereon if applicable. To the extent necessary the Receivables Trustee is hereby authorised to make such payments described above on the Investor Beneficiary's behalf.

Appears in 1 contract

Samples: Turquoise Funding I LTD

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