Common use of CONSEQUENCES OF AN INTERCOMPANY LOAN Clause in Contracts

CONSEQUENCES OF AN INTERCOMPANY LOAN. ACCELERATION NOTICE OR A MASTER INTERCOMPANY LOAN ACCELERATION NOTICE The Account Bank acknowledges that, if it receives notice in writing from the Funding 1 Security Trustee and the Funding 2 Security Trustee to the effect that (a) the Funding 1 Security Trustee has served an Intercompany Loan Acceleration Notice or the Funding 2 Security Trustee has served a Master Intercompany Loan Acceleration Notice or (b) that the appointment of Halifax plc as Cash Manager under the Cash Management Agreement has been terminated (but without prejudice to Clause 6.1 above) all right, authority and power of the Cash Manager in respect of each of the Bank Accounts shall be terminated and be of no further effect and the Account Bank agrees that it shall, upon receipt of such notice from the Funding 1 Security Trustee and the Funding 2 Security Trustee, comply with the directions of the Funding 1 Security Trustee and the Funding 2 Security Trustee or any successor cash manager appointed by the Funding 1 Security Trustee and the Funding 2 Security Trustee (subject to such successor cash manager having entered into an agreement with the Account Bank on substantially the same terms as this Agreement) in relation to the operation of each of the Bank Accounts.

CONSEQUENCES OF AN INTERCOMPANY LOAN. ACCELERATION NOTICE OR A MASTER INTERCOMPANY LOAN ACCELERATION NOTICE The Account Bank acknowledges that, if it receives notice in writing from the Funding 1 Security Trustee and the Funding 2 Security Trustee to the effect that (a) the Funding 1 Security Trustee has and the Funding 2 Security Trustee have served an Intercompany Loan Acceleration Notice or the Funding 2 Security Trustee has served a Master Intercompany Loan Acceleration Notice or (b) that the appointment of Halifax plc as Cash Manager under the Cash Management Agreement has been terminated (but without prejudice to Clause 6.1 above) all right, authority and power of the Cash Manager in respect of each of the Bank Accounts shall be terminated and be of no further effect and the Account Bank agrees that it shall, upon receipt of such notice from the Funding 1 Security Trustee and the Funding 2 Security Trustee, comply with the directions of the Funding 1 Security Trustee and the Funding 2 Security Trustee or any successor cash manager appointed by the Funding 1 Security Trustee and the Funding 2 Security Trustee (subject to such successor cash manager having entered into an agreement with the Account Bank on substantially the same terms as this Agreement) in relation to the operation of each of the Bank Accounts.

CONSEQUENCES OF AN INTERCOMPANY LOAN. ACCELERATION NOTICE OR A MASTER INTERCOMPANY LOAN ACCELERATION NOTICE The Account Bank acknowledges that, if it receives notice in writing from the Funding 1 Security Trustee and the Funding 2 Security Trustee to the effect that (a) the Funding 1 Security Trustee has served an Intercompany Loan Acceleration Notice or the Funding 2 Security Trustee has served a Master Intercompany Loan Acceleration Notice or (b) that the appointment of Halifax plc Bank of Scotland as Cash Manager under the Cash Management Agreement has been terminated (but without prejudice to Clause 6.1 above) all right, authority and power of the Cash Manager in respect of each of the Bank Accounts shall be terminated and be of no further effect and the Account Bank agrees that it shall, upon receipt of such notice from the Funding 1 Security Trustee and the Funding 2 Security Trustee, comply with the directions of the Funding 1 Security Trustee and the Funding 2 Security Trustee or any successor cash manager appointed by the Funding 1 Security Trustee and the Funding 2 Security Trustee (subject to such successor cash manager having entered into an agreement with the Account Bank on substantially the same terms as this Agreement) in relation to the operation of each of the Bank Accounts.

CONSEQUENCES OF AN INTERCOMPANY LOAN. ACCELERATION NOTICE OR A MASTER INTERCOMPANY LOAN ACCELERATION NOTICE Acceleration Notice or a Master Intercompany Loan Acceleration Notice The Account Bank acknowledges that, if it receives notice in writing from the Funding 1 Security Trustee and the Funding 2 Security Trustee to the effect that (a) the Funding 1 Security Trustee has served an Intercompany Loan Acceleration Notice or the Funding 2 Security Trustee has served a Master Intercompany Loan Acceleration Notice or (b) that the appointment of Halifax plc Bank of Scotland as Cash Manager under the Cash Management Agreement has been terminated (but without prejudice to Clause 6.1 above) all right, authority and power of the Cash Manager in respect of each of the Bank Accounts shall be terminated and be of no further effect and the Account Bank agrees that it shall, upon receipt of such notice from the Funding 1 Security Trustee and the Funding 2 Security Trustee, comply with the directions of the Funding 1 Security Trustee and the Funding 2 Security Trustee or any successor cash manager appointed by the Funding 1 Security Trustee and the Funding 2 Security Trustee (subject to such successor cash manager having entered into an agreement with the Account Bank on substantially the same terms as this Agreement) in relation to the operation of each of the Bank Accounts.

CONSEQUENCES OF AN INTERCOMPANY LOAN. ACCELERATION NOTICE OR A MASTER INTERCOMPANY LOAN ACCELERATION NOTICE The Account Bank acknowledges that, if it receives notice in writing from the Funding 1 Security Trustee and the Funding 2 Security Trustee to the effect that (a) the Funding 1 Security Trustee has served an Intercompany Loan Acceleration Notice or the Funding 2 Security Trustee has served a Master Intercompany Loan Acceleration Notice or (b) that the appointment of Halifax the Bank of Scotland plc as Cash Manager under the Cash Management Agreement has been terminated (but without prejudice to Clause 6.1 above) all right, authority and power of the Cash Manager in respect of each of the Bank Accounts shall be terminated and be of no further effect and the Account Bank agrees that it shall, upon receipt of such notice from the Funding 1 Security Trustee and the Funding 2 Security Trustee, comply with the directions of the Funding 1 Security Trustee and the Funding 2 Security Trustee or any successor cash manager appointed by the Funding 1 Security Trustee and the Funding 2 Security Trustee (subject to such successor cash manager having entered into an agreement with the Account Bank on substantially the same terms as this Agreement) in relation to the operation of each of the Bank Accounts.