Utilisation of Issuer Reserves Sample Clauses

Utilisation of Issuer Reserves. The Master Issuer and the Issuer Cash Manager shall procure that, subject to and in accordance with the Issuer Priority of Payments, amounts standing to the credit of the Issuer Reserve Ledger shall only be debited for the purposes as specified in paragraph 1 of Schedule 4 (Issuer Reserve Fund).
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Utilisation of Issuer Reserves. 1.1 Prior to the service of an Issuer Enforcement Notice, amounts standing to the credit of the Issuer Reserve Fund may be utilised:
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Utilisation of Issuer Reserves. Funding and the Cash Manager shall procure that, subject to and in accordance with the Funding Priority of Payments and further subject to any provisos set forth in (in the case of the First Issuer) Schedule 5 (Utilisation of Issuer Reserves) or, in the case of any New Issuer, Schedule I to the relevant Deed of Accession, amounts standing to the credit of the Issuer Reserve Fund Ledger or the Issuer Liquidity Reserve Ledger, if any, of any Issuer shall, for so long as such Issuer's Intercompany Loan remains outstanding, only be debited for the purpose of making payments falling due under the Intercompany Loan Agreement of such Issuer and then only for the purposes specified in (in the case of the First Issuer) Schedule 5 (Utilisation of Issuer Reserves) or, in the case on any New Issuer, Schedule I to the Deed of Accession; provided, however, that, as set forth in Rule (3) of the Rules for application of Funding Available Revenue Receipts, on the Payment Date following the repayment in full of the Intercompany Loan of the First Issuer or any New Issuer and provided that Funding has no further liability under the relevant Intercompany Loan Agreement, subject to any limits or conditions on the purposes for which the related Issuer Reserve Fund or Issuer Liquidity Reserve Fund, if any, may be utilised as set out in the Funding Deed of Charge, any remaining amounts standing to the credit of the Issuer Reserve Fund Ledger and the Issuer Liquidity Reserve Ledger, if any, of that Issuer will constitute additional Funding Available Revenue Receipts for the purpose of items (N) through (Q) of the Funding Pre-Enforcement Revenue Priority of Payments and may be utilised by Funding in paying any other liability of Funding (including, without limitation, payment of interest and principal amounts due to each Start-up Loan Provider under the relevant Start-up Loan Agreement and payment of any Deferred Contribution due to the Mortgages Trustee under the Mortgages Trust Deed), in each case, subject to and in accordance with the relevant Funding Priority of Payments. Amended and Restated Schedule 5 to the Funding Deed of Charge SCHEDULE 5 Utilisation of Issuer Reserves
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Utilisation of Issuer Reserves. Funding and the Cash Manager shall procure that, subject to and in accordance with the Funding Priority of Payments, amounts standing to the credit of the Issuer Reserve Fund Ledger or the Issuer Liquidity Reserve Ledger of any Issuer shall only be debited for the purpose of making payments falling due under the Intercompany Loan Agreement of such Issuer and then only for the purposes specified in (in the case of the First Issuer) Schedule 5 (Utilisation of Issuer Reserves) or, in the case of any New Issuer, Schedule I to the Deed of Accession.
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Related to Utilisation of Issuer Reserves

  • Confirmation of Indebtedness Borrowers confirm and acknowledge that as of the close of business on September 30, 2014, Borrowers were indebted to Lenders for the (a) Advances under the Loan Agreement without any deduction, defense, setoff, claim or counterclaim, of any nature, in the aggregate principal amount of $22,817,930.38 due on account of Revolving Advances and $0.00 on account of undrawn Letters of Credit, plus in each case all fees, costs and expenses incurred to date in connection with the Loan Agreement.

  • Confirmation of Indenture The Base Indenture, as supplemented and amended by this Supplemental Indenture and all other indentures supplemental thereto, is in all respects ratified and confirmed, and the Base Indenture, this Supplemental Indenture and all indentures supplemental thereto shall be read, taken and construed as one and the same instrument.

  • Dissolution of Issuer The Issuer shall wind up and dissolve upon the latest of (1) satisfaction and discharge of the Indenture, (2) the Optional Purchase of the Trust Estate pursuant to the Sale and Servicing Agreement or (3) the final distribution from the Collection Account established pursuant to Section 4.1(a)(i) of the Sale and Servicing Agreement. The bankruptcy, liquidation, dissolution, death or incapacity of a Certificateholder shall not (x) operate to terminate this Agreement or the Issuer, nor (y) entitle such Certificateholder’s legal representatives or heirs to claim an accounting or to take any action or proceeding in any court for a partition or winding up of all or any part of the Issuer or Trust Estate nor (z) otherwise affect the rights, obligations and liabilities of the parties hereto.

  • Cancellation of Indebtedness No Credit Party shall cancel any claim or debt owing to it, except for reasonable consideration negotiated on an arm's length basis and in the ordinary course of its business consistent with past practices.

  • Confirmation and Preservation of Indenture The Indenture as supplemented by this Supplemental Indenture is in all respects confirmed and preserved.

  • Resolution of Issues In the event issues pertaining to a proposed TO/DO solicitation cannot be resolved to the satisfaction of the CO, the CO reserves the right to withdraw and cancel the proposed TO/DO solicitation. In such event, the contractor shall be notified in writing of the CO's decision. This decision is final and conclusive and shall not be subject to the "Disputes" clause or the "Contract Disputes Act."

  • Authorization of Indenture The Indenture has been duly authorized by the Company and, on the Closing Date, will have been duly executed and delivered by the Company, and assuming due authorization, execution and delivery of the Indenture by the Indenture Trustee, the Indenture will constitute a valid, legal and binding agreement of the Company, enforceable against the Company in accordance with its terms, except to the extent that enforceability may be limited by the Enforceability Exceptions.

  • Ratification of Indenture The Indenture, as supplemented by this Supplemental Indenture, is in all respects ratified and confirmed, and this Supplemental Indenture shall be deemed part of the Indenture in the manner and to the extent herein and therein provided.

  • Notification of interest periods and default rates The Agent shall promptly notify the Lenders and the Borrower of each interest rate determined by the Agent under Clause 7.3 and of each period selected by the Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Agent’s notification.

  • Collection of Indebtedness and Suits for Enforcement by Indenture Trustee (a) If (i) default is made in the payment of any interest on any Note when the same becomes due and payable, and such default continues for a period of five (5) Business Days, or (ii) default is made in the payment of the principal of any Note when the same becomes due and payable, the Issuer shall, upon demand of the Indenture Trustee, pay to the Indenture Trustee, for the benefit of the Holders of the Notes, the amount then due and payable on the Notes for principal and interest, with interest upon the overdue principal at the applicable Note Rate and, to the extent payment at such rate of interest shall be legally enforceable, upon overdue installments of interest at the applicable Note Rate and in addition thereto such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel and other amounts due and owing to the Indenture Trustee pursuant to Section 6.7.

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