APPLICATION OF FUNDS IN RESPECT OF VOID SERIES Without. prejudice to the other provisions of this Clause, if the Trustee holds any moneys which represent principal, premium or interest in respect of the Notes in relation to any Series which have become void under their terms, the Trustee shall (subject to payment or provision for the payment or satisfaction of all amounts (howsoever arising) payable under Clause 8.8 to the Trustee and/or any attorney, manager, agent, delegate, receiver or other person appointed by it under this Deed in respect of such Series and subject to any claims of any Secured Creditors of such Series) pay the same to the Issuer (without prejudice to, or liability in respect of, any question as to how such payment to the Issuer shall be dealt with as between the Issuer and any other person).
Appears in 2 contracts
Samples: Security Trust Deed and MTN Cash Management Agreement (Gracechurch Receivables Trustee LTD), Security Trust Deed and MTN Cash Management Agreement (Barclaycard Funding PLC)
APPLICATION OF FUNDS IN RESPECT OF VOID SERIES Without. prejudice to the other provisions of this Clause, if the Security Trustee holds any moneys which represent principal, premium or interest in respect of the Loan Notes in relation to any Series which have become void under their terms, the Security Trustee shall (subject to payment or provision for the payment or satisfaction of all amounts (howsoever arising) payable under Clause 8.8 13 to the Security Trustee and/or any attorney, manager, agent, delegate, receiver or other person appointed by it under this Deed in respect of such Series and subject to any claims of any Secured Creditors of such Series) pay the same to the Loan Note Issuer (without prejudice to, or liability in respect of, any question as to how such payment to the Loan Note Issuer shall be dealt with as between the Loan Note Issuer and any other person).
Appears in 2 contracts
Samples: Security Trust Deed (Arran Funding LTD), Security Trust Deed (Arran Funding LTD)
