Common use of Cash Manager Termination Events Clause in Contracts

Cash Manager Termination Events. If any of the following events ("Cash Manager Termination Events") shall occur: (a) default is made by the Cash Manager in the payment on the due date of any payment due and payable by it under this Agreement or in the performance of its obligations under Clauses 4.4 and 4.5 herein and such default continues unremedied for a period of five (5) London Business Days after the earlier of the Cash Manager becoming aware of such default and receiving written notice from the Security Trustee requiring the same to be remedied; (b) default is made by the Cash Manager in the performance or observance of any of its other covenants and obligations under this Agreement, which in the opinion of the Security Trustee (acting at the direction of the Note Trustee) is materially prejudicial to the Noteholders and such default continues unremedied for a period of twenty (20) days after the earlier of the Cash Manager becoming aware of such default and receipt by the Cash Manager of written notice from the Security Trustee requiring the same to be remedied; or (c) the Cash Manager suffers an Insolvency Event, then Funding, the Mortgages Trustee and/or the Security Trustee may at once or at any time thereafter while such default continues by notice in writing to the Cash Manager with a copy to the Account Bank terminate its appointment as Cash Manager under this Agreement with effect from a date (not earlier than the date of the notice) specified in the notice.

Cash Manager Termination Events. If any of the following events ("Cash Manager Termination Events") shall occur: (a) default is made by the Cash Manager in the payment on the due date of any payment due and payable by it under this Agreement or in the performance of its obligations under Clauses 4.4 4.5 and 4.5 herein 4.6 and such default continues unremedied for a period of five (5) three London Business Days after the earlier of the Cash Manager becoming aware of such default and receiving written notice from the Security Trustee requiring the same to be remedied;default; or (b) default is made by the Cash Manager in the performance or observance of any of its other covenants and obligations under this Agreement, which in the reasonable opinion of the Funding 1 Security Trustee and/or the Funding 2 Security Trustee (acting at the direction of the Note Trusteeas applicable) is materially prejudicial to the Noteholders interests of the Funding 1 Secured Creditors (in the case of Funding 1) or the Funding 2 Secured Creditors (in the case of Funding 2) and such default continues unremedied for a period of twenty (20) days 20 London Business Days after the earlier of the Cash Manager becoming aware of such default and receipt by the Cash Manager of written notice from the Funding 1 Security Trustee and/or the Funding 2 Security Trustee (as applicable) requiring the same to be remedied; or; (c) the Cash Manager suffers an Insolvency EventEvent occurs, then Funding, Funding 1 and/or Funding 2 and/or the Mortgages Funding 1 Security Trustee and/or the Funding 2 Security Trustee may at once or at any time thereafter while such default continues by notice in writing to the Cash Manager with a copy to the Account Bank terminate its appointment as Cash Manager under this Agreement with effect from a date (not earlier than the date of the notice) specified in the notice.