Common use of CERTIFICATION, INDEMNITY AND ACCELERATION NOTICE Clause in Contracts

CERTIFICATION, INDEMNITY AND ACCELERATION NOTICE. 6.1 ACCOUNT BANK TO COMPLY WITH CASH MANAGER'S INSTRUCTIONS Unless otherwise directed in writing by the Funding 1 Security Trustee and the Funding 2 Security Trustee pursuant to Clause 6.5, in making any transfer or payment from any Bank Account in accordance with this Agreement, the Account Bank shall be entitled to act as directed by the Cash Manager pursuant to Clauses 2.1 and 3 and to rely as to the amount of any such transfer or payment on the Cash Manager's instructions in accordance with the relevant Mandate, and the Account Bank shall have no liability to the Cash Manager, the Mortgages Trustee, Funding 1, Funding 2, the Seller, the Funding 1 Security Trustee or the Funding 2 Security Trustee for having acted on such instructions except in the case of its wilful default, fraud or negligence.

Appears in 3 contracts

Samples: Account Agreement (Permanent Funding (No. 2) LTD), Account Agreement (Permanent Funding (No. 2) LTD), Account Agreement (Permanent Funding (No. 2) LTD)

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CERTIFICATION, INDEMNITY AND ACCELERATION NOTICE. 6.1 ACCOUNT BANK TO COMPLY WITH CASH MANAGER'S INSTRUCTIONS Account Bank to Comply with Cash Manager's Instructions Unless otherwise directed in writing by the Funding 1 Security Trustee and the Funding 2 Security Trustee pursuant to Clause 6.5, in making any transfer or payment from any Bank Account in accordance with this Agreement, the Account Bank shall be entitled to act as directed by the Cash Manager pursuant to Clauses 2.1 and 3 and to rely as to the amount of any such transfer or payment on the Cash Manager's instructions in accordance with the relevant Mandate, and the Account Bank shall have no liability to the Cash Manager, the Mortgages Trustee, Funding 1, Funding 2, the Seller, the Funding 1 Security Trustee or the Funding 2 Security Trustee for having acted on such instructions except in the case of its wilful default, fraud or negligence.

Appears in 1 contract

Samples: Account Agreement

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CERTIFICATION, INDEMNITY AND ACCELERATION NOTICE. 6.1 ACCOUNT BANK TO COMPLY WITH CASH MANAGER'S INSTRUCTIONS Unless otherwise directed in writing by the Funding 1 Security Trustee and the Funding 2 Security Trustee pursuant to Clause 6.5, in making any transfer or payment from any Bank Account in accordance with this Agreement, the Account Bank shall be entitled to act as directed by the Cash Manager pursuant to Clauses 2.1 and 3 and to rely as to the amount of any such transfer or payment on the Cash Manager's instructions in accordance with the relevant Mandate, and the Account Bank shall have no liability to the Cash Manager, the Mortgages Trustee, Funding 1, Funding 2, the Seller, Seller or the Funding 1 Security Trustee or Trustee, the Funding 2 Security Trustee for having acted on such instructions except in the case of its wilful default, fraud or negligence.

Appears in 1 contract

Samples: Account Agreement (Permanent Funding (No. 2) LTD)

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