Ranking of interest of Beneficiary. The rights, claims and interest of a Beneficiary in relation to any Trust, the Assets of any Trust and in relation to any payment or distribution out of any Trust (including on the winding up of a Trust) shall at all times rank after, and be subject to, the interests of Noteholders under the Notes issued in relation to that Trust (including in relation to any payment obligations on the Notes).
Appears in 6 contracts
Samples: Master Trust (Crusade Management LTD), Master Trust (Crusade Management LTD), Master Trust (Crusade Management LTD)
Ranking of interest of Beneficiary. The rights, claims and interest of a Beneficiary in relation to any Trust, the Assets of any Trust and in relation to any payment or distribution out of any Trust (including including, without limitation, on the winding up of a Trust) shall at all times rank after, and be subject to, the interests of Noteholders under the Notes issued in relation to that Trust (including including, without limitation, in relation to any payment obligations on the Notes).
Appears in 3 contracts
Samples: Memorandum of Agreement (Westpac Securitisation Management Pty LTD), Memorandum of Agreement (Westpac Securitisation Management Pty LTD), Memorandum of Agreement (Westpac Securitisation Management Pty LTD)
