VFN Series definition

VFN Series means a Series in which the Related Debt comprises Loan Notes which may, in accordance with their terms, periodically have their Principal Amount Outstanding (as defined in the Security Trust Deed and Cash Management Agreement) increased or decreased at the option of the Loan Note Issuer; and
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VFN Series means Series 2008-A, Series 2010-A and, with the consent of the Required Persons for each outstanding VFN Series, any other Series of variable funding notes.
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VFN Series the holders of those notes, the "VFN NOTEHOLDERS");
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Examples of VFN Series in a sentence

  • The consent of the Security Trustee referred to above shall be given in accordance with a corresponding Term Series Direction in respect of each Term Series of Loan Notes and a corresponding VFN Series Direction in respect of each VFN Series of Loan Notes.

  • The Security Trustee shall give such consent referred to above if it receives a corresponding Term Series Direction in respect of each Term Series of Loan Notes and a corresponding VFN Series Direction in respect of each VFN Series of Loan Notes.

  • In relation to each Series of Loan Notes, the Security Trustee shall undertake such duties pursuant to Term Series Directions and VFN Series Directions, as applicable, unless otherwise specified or the context otherwise requires.

  • The Security Trustee shall only give a notice of crystallisation in respect of the floating charge and/or appoint an administrative receiver thereunder if it has been instructed so to do by a Term Series Direction or by a VFN Series Direction, as appropriate, for each outstanding Series of Loan Notes and has been indemnified and/or secured and/or prefunded to its satisfaction for its costs of so doing.

  • Any reference in this Clause 9 to the Security Trustee exercising discretion (or words of similar import) shall, in relation to any Term Series of Loan Notes, be deemed to mean the Security Trustee acting in accordance with a Term Series Direction and, in relation to any VFN Series of Loan Notes, be deemed to mean the Security Trustee acting in accordance with a VFN Series Direction.

  • The Security Trustee shall give such approval referred to above if it receives a corresponding Term Series Direction in respect of each Term Series of Loan Notes and a corresponding VFN Series Direction in respect of each VFN Series of Loan Notes.

  • Notwithstanding the foregoing, in relation to any Series of Loan Notes, if a Term Series Direction or a VFN Series Direction (as appropriate) is given in relation to any of the above matters, the Security Trustee shall act in accordance with such direction, save that the Security Trustee shall not be obliged to act contrary to its own interests.

  • This Clause 12.2.2 imposes no limitations on the powers of the Priority Secured Creditor in respect of any VFN Series, the exercise of which will be binding on each other Secured Creditor in respect of such Series irrespective of the effect on their interests.

  • Each “Increase” with respect to all VFN Series shall be allocated to each respective VFN Series as instructed by the Issuer in its sole discretion.

  • Indenture Trustee shall deliver the VFN Series 2003-3 Notes to or upon the written order of Issuer when so authenticated.


More Definitions of VFN Series

VFN Series means any Series of variable funding notes issued pursuant to this Master Trust Indenture.
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