Common use of APPLICATION FOR AND ISSUE OF NOTES Clause in Contracts

APPLICATION FOR AND ISSUE OF NOTES. (a) The SF Manager may direct that the Issuer issues a Note to the Note Holder by: (1) directing a Note be issued from the Securitisation Fund; (2) specifying the principal amount of the Note required; (3) specifying the proposed date and time of issue of the Note; and (4) providing to the Note Holder and the OF Manager a Funding Notice (and a copy to the Issuer) pursuant to clause 4. (b) If the SF Manager has directed that the Issuer issues a Note in accordance with clause 2.1(a), the Note Holder must subscribe for the Note as directed by the SF Manager, and the Issuer must, on the terms of this agreement, issue the Note to the Note Holder in consideration for the principal amount provided that the OF Manager and Note Holder have complied with clause 5.1. (c) The parties agree that the terms and conditions contained in this agreement, the Supplementary Bond Terms and the Security Trust Deed govern the issue and repayment of the Notes.