ACKNOWLEDGEMENT REGARDING PAYMENTS. Each of the Issuer, the Trustee, the Receivables Trustee and the Transferor acknowledge and confirm that the Receivables Trustee shall apply any amounts due from the Issuer to the Receivables Trustee in respect of a Series in or towards satisfaction of any amounts then due to the Issuer from it in respect of any Trust Property of that Series.
Appears in 5 contracts
Samples: Management Agreement (Gracechurch Receivables Trustee LTD), Management Agreement (Barclaycard Funding PLC), Management Agreement (Gracechurch Receivables Trustee LTD)