Common use of Consequences of an Intercompany Loan Acceleration Notice or a Note Clause in Contracts

Consequences of an Intercompany Loan Acceleration Notice or a Note. Acceleration Notice The Issuer Account Bank acknowledges that, if it receives notice in writing from the Issuer Security Trustee to the effect that (a) the Issuer has served an Intercompany Loan Acceleration Notice or (b) the Note Trustee has served a Note Acceleration Notice or (c) the appointment of Santander UK plc as Issuer Cash Manager under the Issuer Cash Management Agreement has been terminated (but without prejudice to Clause 7.2 (Issuer's indemnity) above), then all right, authority and power of the Issuer Cash Manager in respect of the Issuer Accounts shall be terminated and be of no further effect, and the Issuer Account Bank agrees that it shall, upon receipt of such notice from the Issuer Security Trustee, comply with the directions of the Issuer Security Trustee or any successor cash manager appointed by the Issuer Security Trustee (subject to such successor cash manager having entered into an agreement with the Issuer Account Bank on substantially the same terms as this Agreement) in relation to the operation of the Issuer Accounts.

Consequences of an Intercompany Loan Acceleration Notice or a Note. Acceleration Notice The Issuer Account Bank acknowledges that, if it receives notice in writing from the Issuer Security Trustee to the effect that (a) the Issuer Funding 1 Security Trustee has served an Intercompany Loan Acceleration Notice or Notice, (b) the Note Trustee has served a Note Acceleration Notice or (c) the appointment of Santander UK plc as Issuer Cash Manager under the Issuer Cash Management Agreement has been terminated (but without prejudice to Clause 7.2 (Issuer's indemnity) 7.1 above), then all right, authority and power of the Issuer Cash Manager in respect of the Issuer Accounts shall be terminated and be of no further effect, and the Issuer Account Bank agrees that it shall, upon receipt of such notice from the Issuer Security Trustee, comply with the directions of the Issuer Security Trustee or any successor cash manager appointed by the Issuer Security Trustee (subject to such successor cash manager having entered into an agreement with the Issuer Account Bank on substantially the same terms as this Agreement) in relation to the operation of the Issuer Accounts.

Consequences of an Intercompany Loan Acceleration Notice or a Note. Acceleration Notice ACCELERATION NOTICE The Issuer Account Bank acknowledges that, that if it receives notice in writing from the Issuer Security Trustee to the effect that (a) the Issuer Security Trustee has served an Intercompany Loan Acceleration Notice or Notice, (b) the Note Trustee has served a Note Acceleration Notice or (c) the appointment of Santander UK Halifax plc as Issuer Cash Manager under the Issuer Cash Management Agreement has been terminated (but without prejudice to Clause 7.2 (Issuer's indemnity) 7.1 above), then all right, authority and power of the Issuer Cash Manager in respect of the Issuer Accounts shall be terminated and be of no further effect, and the Issuer Account Bank agrees that it shall, upon receipt of such notice from the Issuer Security Trustee, comply with the directions of the Issuer Security Trustee or any successor cash manager appointed by the Issuer Security Trustee (subject to such successor cash manager having entered into an agreement with the Issuer Account Bank on substantially the same terms as this Agreement) in relation to the operation of the Issuer Accounts.