Note Event of Default. The Master Issuer Security will become immediately enforceable upon the occurrence of a Note Event of Default or, if there are no Master Issuer Notes outstanding, upon failure by the Master Issuer to pay any other Master Issuer Secured Liability on its due date (subject to any applicable grace period).
Appears in 3 contracts
Samples: Holmes Funding LTD, Holmes Funding LTD, Holmes Master Issuer
Note Event of Default. The Master Issuer Security will become immediately enforceable upon the occurrence of a Note Event of Default or, if there are no Master Issuer Notes outstanding, upon failure by the Master Issuer to pay any other Master Issuer Secured Liability on its due date (subject to any applicable grace period).
Appears in 1 contract
Samples: Permanent Funding (No. 2) LTD
