Administration of Mortgages. 5.1 Direct Debiting Scheme
(a) For the purposes of collecting amounts due from Borrowers under the Mortgage Loans and their Related Security in accordance with this Agreement the Mortgage Administrator will unless otherwise agreed in writing with the Issuer:
(i) act, or procure that another person approved in writing by the Issuer (such approval not to be unreasonably withheld) (the "Third Party Collection Agent") acts, as collection agent for the Issuer and the Originator Beneficiary under the Direct Debiting Scheme and remains a member of the Direct Debiting Scheme or any scheme which replaces the Direct Debiting Scheme;
(ii) subject to paragraphs (b) and (c) of this Clause 5.1, deliver to the BACS or to the Collection Account Bank such instructions as may be necessary from time to time for the debit of the account of each Borrower in respect of which there is a direct debit mandate (the date of such delivery being the "D.D. Date") with the Monthly Payment due from such Borrower and for the credit of such amount to the Collection Account, and for the amount of such Monthly Payment that it is notified or is aware comprises Issuer Revenue and Issuer Principal Receipts to be debited from the Collection Account and credited to the Transaction Account on the day after the D.D. Date or, if such day is not a Business Day, the following Business Day;
(iii) subject to paragraphs (b) and (c) of this Clause 5.1, deliver to the Collection Account Bank or BACS (as appropriate) instructions for the debit of the account of each Borrower in respect of which there is a direct debit mandate where the Monthly Payment due and owing from such Borrower on the relevant D.D. Date has not been received in full on the relevant D.D. Date by the Mortgage Administrator and where the instructions for the debit of the account of the relevant Borrower for such Monthly Payment have been returned to the Mortgage Administrator marked "insufficient funds" within ten Business Days of receipt by the Mortgage Administrator of any such returned instructions;
(iv) subject to paragraphs (b) and (c) of this Clause 5.1, deliver to the Collection Account Bank or BACS (as appropriate) such other instructions for the debit of the account of each Borrower in respect of which there is a direct debit mandate in accordance with the Direct Debiting Scheme as may be appropriate for the recovery of sums due by such Borrower;
(v) comply in all material respects with the requirements from time to time of the ...
Administration of Mortgages. 9 ARTICLE 6
Administration of Mortgages
