Loan Enforcement Notice definition
Examples of Loan Enforcement Notice in a sentence
Prior to the service of an Intercompany Loan Enforcement Notice, Funding shall pay interest on the Advance on each Payment Date if, and only to the extent that, there are Funding Available Revenue Receipts available therefor after making the payments and provisions referred to in the Funding Pre-Enforcement Revenue Priority of Payments.
If an Intercompany Loan Enforcement Notice is served, the Advance (including any interest capitalised pursuant to Clause 3.4) and accrued interest shall, subject to the Funding Deed of Charge, become immediately due and payable.
If any Intercompany Loan Enforcement Notice is served, this facility shall be cancelled and the Advance (and any interest capitalised pursuant to Clause 3.4) and accrued interest shall, subject to the Funding Deed of Charge, become immediately due and payable.
In administering the Mortgages Trustee Transaction Account, the Mortgages Trustee GIC Account, the Funding Transaction Account, the Funding GIC Account and any Funding (Issuer) GIC Account on behalf of the Mortgages Trustee, Funding and the Security Trustee, as applicable, the Cash Manager shall comply with the provisions of Schedule 2 hereto prior to receipt by the Cash Manager of a copy of any Intercompany Loan Enforcement Notice served by the Security Trustee on Funding.
Prior to the delivery of a Loan Enforcement Notice, if a drawing is made or any other amount is outstanding under any Borrower Liquidity Facility Agreement (other than a Standby Drawing), no Borrower will be permitted to make any subsequent payment of or in respect of its Senior Debt (or, where such payment would otherwise be permitted by the terms hereof, make any Restricted Payment) unless and until all amounts owing under the relevant Borrower Liquidity Facility Agreement have been paid in full.
In administering the Funding 2 Bank Accounts on behalf of Funding 2 and the Funding 2 Security Trustee, the Cash Manager shall comply with the provisions of Schedule 2 hereto prior to receipt by the Cash Manager of a copy of any Intercompany Loan Enforcement Notice served by the Funding 2 Security Trustee on Funding 2.
Following the delivery of a Loan Enforcement Notice, all monies standing to the credit of all Obligor Accounts shall only be withdrawn with the prior written consent of the Borrower Security Trustee or a Receiver.
If any Intercompany Loan Enforcement Notice is served, this facility shall be cancelled and the Advance (including any interest capitalised pursuant to Clause 3.4) and accrued interest shall, subject to the Funding Deed of Charge, become immediately due and payable.
Each Borrower Secured Creditor agrees and each of the Obligors and the Borrower Security Trustee acknowledges that each Borrower Secured Creditor's claims will rank according to the relevant Borrower Post-Enforcement Priorities of Payments following the delivery of a Loan Enforcement Notice.
The Borrower Security Trustee shall not be obliged to give a Loan Enforcement Notice or a Loan Acceleration Notice or to take any Enforcement Action unless and until it has been indemnified and/or secured to its satisfaction against all Liabilities to which it may become liable or which it may incur by giving any Loan Enforcement Notice, Loan Acceleration Notice or taking any Enforcement Action.