Funding 2 Security definition

Funding 2 Security means the mortgages, charges, assignments, pledges and other security created by Funding 2 under or pursuant to the Funding 2 Deed of Charge in favour of the Funding 2 Security Trustee for the benefit of the secured creditors of Funding 2 as described under the Funding 2 Deed of Charge;
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Funding 2 Security means the security granted by Funding 2 under or pursuant to the Funding 2 Deed of Charge in favour of the Funding 2 Security Trustee for the benefit of the Funding 2 Secured Creditors or any of them including the security granted by Funding 2 under or pursuant to any Deed of Accession;
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Funding 2 Security has become enforceable in accordance with Clause 8.5 (Enforceable), the Security Trustee may, at its discretion and without notice, take such steps as it may think fit to enforce the security created pursuant to this Deed.
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Examples of Funding 2 Security in a sentence

  • For the avoidance of doubt, the parties to this Agreement acknowledge that the rights and obligations of the Funding 2 Security Trustee under this Agreement are governed by the Funding 2 Deed of Charge.

  • In any proceeding, action or claim relating to a Loan Tranche a statement as to any amount due to the Master Issuer under such Loan Tranche which is certified as being correct by an officer of the Funding 2 Security Trustee shall, unless otherwise provided in this Agreement, be prima facie evidence that such amount is in fact due and payable.

  • Funding 2 makes the representations and warranties set out in this Clause 13 to the Master Issuer and the Funding 2 Security Trustee (as trustee for each of the Funding 2 Secured Creditors).

  • Without prejudice to the obligations of Funding 2 under this Clause 4, neither the Funding 2 Security Trustee nor any of the Funding 2 Secured Creditors shall be obliged to concern themselves as to the application of amounts raised by Funding 2 under a Loan Tranche.

  • The covenants of the Cash Manager in Clause 11.1 shall remain in force until this Agreement is terminated but without prejudice to any right or remedy of the Mortgages Trustee and/or Funding 1 and/or Funding 2 and/or the Funding 1 Security Trustee and/or the Funding 2 Security Trustee arising from breach of any such covenant prior to the date of termination of this Agreement.

  • Following enforcement of the Funding 2 Security and distribution of all enforcement proceeds in accordance with the Funding 2 Deed of Charge, all outstanding claims that the Master Issuer may otherwise have against Funding 2 will be extinguished.

  • Following the service of an Intercompany Loan Acceleration Notice and/or a Master Intercompany Loan Acceleration Notice the Funding 1 Security Trustee and the Funding 2 Security Trustee may serve a notice of termination at any time.

  • Unless and until directed otherwise by the Funding 1 Security Trustee and the Funding 2 Security Trustee in accordance with Clause 12, the Account Bank shall provide the Cash Manager with a written statement in respect of each Bank Account on a monthly basis and also as soon as reasonably practicable after receipt of a request for a statement.

  • The IRD CSP program keeps database(s) of vocational education graduates and apprentices.4 Answering the SOW questions implies either using existing data on program participants, or interviewing participants to obtain what’s needed.

  • The Account Bank is hereby authorised by Funding 1, Funding 2 and the Mortgages Trustee to provide statements in respect of each Bank Account to the Cash Manager, the Funding 1 Security Trustee and the Funding 2 Security Trustee.


More Definitions of Funding 2 Security

Funding 2 Security means the security to be granted by Funding 2 under or pursuant to the Funding 2 Deed of Charge.
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Related to Funding 2 Security

  • Principal Funding Account shall have the meaning specified in subsection 4.03(a)(i).

  • Class A-PO Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum as to each Outstanding Mortgage Loan, of the product of (x) the PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Class B-6 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Class B-4 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Class B-2 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Loan Payment Date means any date on which any Bond Service Charges are due and payable.

  • Class B-5 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Class B-3 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Subordinate Optimal Principal Amount For any Distribution Date and any Loan Group, the sum for each Mortgage Loan in such Loan Group of (i) the Subordinate Percentage of (a) the principal portion of each Scheduled Payment (without giving effect, prior to the Bankruptcy Coverage Termination Date, to any reductions thereof caused by any Debt Service Reductions or Deficient Valuations) due on each such Mortgage Loan on the related Due Date, (b) the principal portion of the Purchase Price of each such Mortgage Loan to the extent it was repurchased by the Transferor pursuant to this Agreement as of such Distribution Date, (c) the Substitution Adjustment Amount in connection with any Deleted Mortgage Loan related to such Loan Group received with respect to such Distribution Date, (d) any Liquidation Proceeds (including Insurance Proceeds) allocable to recoveries of principal of Mortgage Loans related to such Loan Group that are not yet Liquidated Loans, received during the calendar month preceding the month of such Distribution Date, (ii) with respect to each Mortgage Loan in such Loan Group that became a Liquidated Loan during the calendar month preceding the month of such Distribution Date, the portion of the amount of the Liquidation Proceeds allocable to principal received with respect to such Mortgage Loan that was not included in clause (ii) of the definition of "Senior Optimal Principal Amount" for such Distribution Date, (iii) the Subordinate Prepayment Percentage of the sum of (a) all Principal Prepayments in Full of Mortgage Loans in such Loan Group received during the related Prepayment Period and (b) all partial Principal Prepayments of Mortgage Loans in such Loan Group and applied during the related Prepayment Period and (iv) with respect to any Distribution Date prior to the Cross-Over Date only, the Subordinate Prepayment Percentage related to such Group of the Recoveries received during the related Prepayment Period; provided, however, that if a Bankruptcy Loss that is an Excess Loss is sustained with respect to a Mortgage Loan in such Loan Group that is not a Liquidated Loan, the Subordinate Optimal Principal Amount will be reduced on the related Distribution Date by the Subordinate Percentage of the principal portion of such Bankruptcy Loss.

  • Tranche B Note means a promissory note of the Borrower payable to any Tranche B Lender and its registered assigns, delivered pursuant to a request made under Section 2.16 in substantially the form of Exhibit A-3 hereto, evidencing the aggregate indebtedness of the Borrower to such Lender resulting from the Tranche B Loans made by such Lender to the Borrower.

  • Principal Funding Account Balance means, with respect to any date of determination, the principal amount, if any, on deposit in the Principal Funding Account on such date of determination.

  • Principal amount financed means the unpaid cash price balance after deducting the down payment, adding the cost of any insurance premiums required or obtained as security for or by reason of the sale of a motor vehicle under an installment sale contract, and adding other costs necessary or incidental to the sale of the motor vehicle under the contract that the seller contracts to pay on behalf of the buyer and for the amount of which the seller agrees to extend credit to the buyer and for which the buyer contracts voluntarily.

  • Equipment Note means and includes any equipment notes issued under the Indenture in the form specified in Section 2.01 thereof (as such form may be varied pursuant to the terms of the Indenture) and any Equipment Note issued in exchange therefor or replacement thereof pursuant to Section 2.07 or 2.08 of the Indenture.

  • Class A-3 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Original Lower-Tier Principal Amount With respect to any Class of Uncertificated Lower-Tier Interests, the initial Lower-Tier Principal Amount thereof as of the Closing Date, in each case as specified in the Introductory Statement.

  • Class B Note means any of the 0.00% Asset Backed Notes, Class B, issued under the Indenture substantially in the form attached thereto as Exhibit A-3.

  • Class B-1 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • RMB Note means a Note denominated in Renminbi.

  • Class A-1 Interest Rate means [ ]% per annum (computed on the basis of the actual number of days elapsed during the applicable Interest Period, but assuming a 360-day year).

  • Global Preferred Security means a Preferred Securities Certificate evidencing ownership of Book-Entry Preferred Securities.

  • Term Loan Repayment Date shall have the meaning assigned to such term in Section 2.09.

  • the obligors on a note means "the obligor or obligors on a note"). "Until [something occurs]" does not imply that it must occur, and will not be modified by the word "unless." The word "due" and the word "payable" are each used in the sense that the stated time for payment has passed. The word "accrued" is used in its accounting sense, i.e., an amount paid is no longer accrued. In the calculation of amounts of things, differences and sums may generally result in negative numbers, but when the calculation of the excess of one thing over another results in zero or a negative number, the calculation is disregarded and an "excess" does not exist. Portions of things may be expressed as fractions or percentages interchangeably.

  • Class P Principal Amount As of the Closing Date, $100.

  • Class A Note means a Class A-1 Note, a Class A-2 Note, a Class A-3 Note or a Class A-4 Note.

  • Senior Optimal Principal Amount As to a Mortgage Pool and with respect to each Distribution Date, an amount equal to the sum of:

  • Loan Payment means any amount payable by the Loan Parties to the Bank pursuant to the Legal Agreements or these General Conditions, including (but not limited to) any amount of the Withdrawn Loan Balance, interest, the Front-end Fee, interest at the Default Interest Rate (if any), any prepayment premium, any transaction fee for a Conversion or early termination of a Conversion, any premium payable upon the establishment of an Interest Rate Cap or Interest Rate Collar, and any Unwinding Amount payable by the Borrower.”