Common use of CREATION OF FIXED SECURITY Clause in Contracts

CREATION OF FIXED SECURITY. 6.1 As continuing security for the payment or discharge of the Series 2023-1 (A3) Secured Obligations subject to Clause 9 (Redemption and Release) the Issuer with full title guarantee, in favour of the Note Trustee for itself and as trustee for the Note Trustee itself and on trust for the Series 2023-1 (A3) Secured Creditors, hereby: (a) assigns by way of first fixed security all the Benefit of the Issuer in the Class A3 (2023-1) Loan Note; (b) assigns by way of first fixed security all the Benefit of the Issuer in the security interest created in favour of the Security Trustee by Funding 1 in respect of the Class A3 (2023-1) Loan Note; (c) assigns by way of first fixed security all the Benefit of the Issuer in and to all monies credited in respect of the Series 2023-1 (A3) Charged Accounts; and (d) assigns by way of first fixed security all the Benefit of the Issuer in each Series 2023-1 (A3) Document (other than this Note Trust Deed Supplement) to which the Issuer is a party (and sums received or recoverable thereunder), including without limitation all rights to receive payment of any amount which may become payable to the Issuer thereunder (in respect of Series 2023-1 (A3)) or payments received by the Issuer thereunder (in respect of Series 2023-1 (A3)) or rights to serve notices and/or to take such steps as are required to cause payments to become due and payable thereunder and all rights of action in respect of any breach thereof and all rights to receive damages or obtain other relief in respect thereto. For the purposes of perfection and in connection with the creation of the security interests pursuant hereto the Issuer agrees to give all notices of assignment necessary to perfect the security interests (including, but not limited to, any which may from time to time be deemed necessary by the Note Trustee).

CREATION OF FIXED SECURITY. 6.1 As continuing security for the payment or discharge of the Series 20232020-1 (A3A1) Secured Obligations subject to Clause 9 (Redemption and Release) the Issuer with full title guarantee, in favour of the Note Trustee for itself and as trustee for the Note Trustee itself and on trust for the Series 20232020-1 (A3A1) Secured Creditors, hereby: (a) assigns by way of first fixed security all the Benefit of the Issuer in the Class A3 A1 (20232020-1) Loan Note; (b) assigns by way of first fixed security all the Benefit of the Issuer in the security interest created in favour of the Security Trustee by Funding 1 in respect of the Class A3 A1 (20232020-1) Loan Note; (c) assigns by way of first fixed security all the Benefit of the Issuer in and to all monies credited in respect of the Series 20232020-1 (A3A1) Charged Accounts; and (d) assigns by way of first fixed security all the Benefit of the Issuer in each Series 20232020-1 (A3A1) Document (other than this Note Trust Deed Supplement) to which the Issuer is a party (and sums received or recoverable thereunder), including without limitation all rights to receive payment of any amount which may become payable to the Issuer thereunder (in respect of Series 20232020-1 (A3A1)) or payments received by the Issuer thereunder (in respect of Series 20232020-1 (A3A1)) or rights to serve notices and/or to take such steps as are required to cause payments to become due and payable thereunder and all rights of action in respect of any breach thereof and all rights to receive damages or obtain other relief in respect thereto. For the purposes of perfection and in connection with the creation of the security interests pursuant hereto the Issuer agrees to give all notices of assignment necessary to perfect the security interests (including, but not limited to, any which may from time to time be deemed necessary by the Note Trustee).

CREATION OF FIXED SECURITY. 6.1 As continuing security for the payment or discharge of the Series 20232020-1 (A3) Secured Obligations subject to Clause 9 (Redemption and Release) the Issuer with full title guarantee, in favour of the Note Trustee for itself and as trustee for the Note Trustee itself and on trust for the Series 20232020-1 (A3) Secured Creditors, hereby: (a) assigns by way of first fixed security all the Benefit of the Issuer in the Class A3 (20232020-1) Loan Note; (b) assigns by way of first fixed security all the Benefit of the Issuer in the security interest created in favour of the Security Trustee by Funding 1 in respect of the Class A3 (20232020-1) Loan Note; (c) assigns by way of first fixed security all the Benefit of the Issuer in and to all monies credited in respect of the Series 20232020-1 (A3) Charged Accounts; and (d) assigns by way of first fixed security all the Benefit of the Issuer in each Series 20232020-1 (A3) Document (other than this Note Trust Deed Supplement) to which the Issuer is a party (and sums received or recoverable thereunder), including without limitation all rights to receive payment of any amount which may become payable to the Issuer thereunder (in respect of Series 20232020-1 (A3)) or payments received by the Issuer thereunder (in respect of Series 20232020-1 (A3)) or rights to serve notices and/or to take such steps as are required to cause payments to become due and payable thereunder and all rights of action in respect of any breach thereof and all rights to receive damages or obtain other relief in respect thereto. For the purposes of perfection and in connection with the creation of the security interests pursuant hereto the Issuer agrees to give all notices of assignment necessary to perfect the security interests (including, but not limited to, any which may from time to time be deemed necessary by the Note Trustee).

CREATION OF FIXED SECURITY. 6.1 As continuing security for the payment or discharge of the Series 20232006-1 (A3) 2 Secured Obligations save to the extent that they constitute Jersey Assets and subject to Clause 9 (Redemption and Release) the Issuer with full title guarantee, in favour of the Note Trustee for itself and as trustee for the Note Trustee itself and on trust for the Series 20232006-1 (A3) 2 Secured Creditors, hereby: (a) 6.1.1 assigns by way of first fixed security all the Issuer's Benefit of the Issuer in the Class A3 (2023Series 2006-1) 2 Loan Note; (b) 6.1.2 assigns by way of first fixed security all the Issuer's Benefit of the Issuer in the security interest created in favour of the Security Trustee by Funding the Loan Note Issuer No. 1 and the Loan Note Issuer No. 2 pursuant to the Series 2006-2 Loan Note Supplement in respect of the Class A3 (2023Series 2006-1) 2 Loan Note;; and (c) 6.1.3 assigns by way of first fixed security all the Issuer's Benefit in the Series 2006-2 Issuer Distribution Account or to the relevant ledger of any bank or other account in which the Issuer in and to all monies credited may at any time in respect of the Series 20232006-1 (A3) Charged Accounts; and2 have any Benefit, (d) 6.1.4 assigns by way of first fixed security all the Issuer's Benefit of the Issuer in each Series 20232006-1 (A3) 2 Document (other than the Note Trust Deed, this Note Trust Deed SupplementSupplement and the Series 2006-2 Subscription Agreement and, in respect of the Swap Agreements, subject to the application of the netting and set-off provisions contained therein) to which the Issuer is a party (and sums received or recoverable thereunder), including without limitation all rights to receive payment of any amount which may become payable to the Issuer thereunder (in respect of Series 20232006-1 (A3)2) or payments received by the Issuer thereunder (in respect of Series 20232006-1 (A3)2) or rights to serve notices and/or to take such steps as are required to cause payments to become due and payable thereunder and all rights of action in respect of any breach thereof and all rights to receive damages or obtain other relief in respect thereto. For the purposes of perfection and in connection with the creation of the security interests pursuant hereto the Issuer agrees to give all notices of assignment necessary to perfect the security interests (including, but not limited to, any which may from time to time be deemed necessary by the Note Trustee).

CREATION OF FIXED SECURITY. 6.1 As continuing security for the payment or discharge of the Series 20232020-1 (A3A2) Secured Obligations subject to Clause 9 (Redemption and Release) the Issuer with full title guarantee, in favour of the Note Trustee for itself and as trustee for the Note Trustee itself and on trust for the Series 20232020-1 (A3A2) Secured Creditors, hereby: (a) assigns by way of first fixed security all the Benefit of the Issuer in the Class A3 A2 (20232020-1) Loan Note; (b) assigns by way of first fixed security all the Benefit of the Issuer in the security interest created in favour of the Security Trustee by Funding 1 in respect of the Class A3 A2 (20232020-1) Loan Note; (c) assigns by way of first fixed security all the Benefit of the Issuer in and to all monies credited in respect of the Series 20232020-1 (A3A2) Charged Accounts; and (d) assigns by way of first fixed security all the Benefit of the Issuer in each Series 20232020-1 (A3A2) Document (other than this Note Trust Deed Supplement) to which the Issuer is a party (and sums received or recoverable thereunder), including without limitation all rights to receive payment of any amount which may become payable to the Issuer thereunder (in respect of Series 20232020-1 (A3A2)) or payments received by the Issuer thereunder (in respect of Series 20232020-1 (A3A2)) or rights to serve notices and/or to take such steps as are required to cause payments to become due and payable thereunder and all rights of action in respect of any breach thereof and all rights to receive damages or obtain other relief in respect thereto. For the purposes of perfection and in connection with the creation of the security interests pursuant hereto the Issuer agrees to give all notices of assignment necessary to perfect the security interests (including, but not limited to, any which may from time to time be deemed necessary by the Note Trustee).

CREATION OF FIXED SECURITY. ‌ 6.1 As continuing security for the payment or discharge of the Series 2023-1 2 (A3A1) Secured Obligations subject to Clause 9 (Redemption and Release) the Issuer with full title guarantee, in favour of the Note Trustee for itself and as trustee for the Note Trustee itself and on trust for the Series 2023-1 2 (A3A1) Secured Creditors, hereby: (a) assigns by way of first fixed security all the Benefit of the Issuer in the Class A3 A1 (2023-12) Loan Note; (b) assigns by way of first fixed security all the Benefit of the Issuer in the security interest created in favour of the Security Trustee by Funding 1 in respect of the Class A3 A1 (2023-12) Loan Note; (c) assigns by way of first fixed security all the Benefit of the Issuer in and to all monies credited in respect of the Series 2023-1 2 (A3A1) Charged Accounts; and (d) assigns by way of first fixed security all the Benefit of the Issuer in each Series 2023-1 2 (A3A1) Document (other than this Note Trust Deed Supplement) to which the Issuer is a party (and sums received or recoverable thereunder), including without limitation all rights to receive payment of any amount which may become payable to the Issuer thereunder (in respect of Series 2023-1 2 (A3A1)) or payments received by the Issuer thereunder (in respect of Series 2023-1 2 (A3A1)) or rights to serve notices and/or to take such steps as are required to cause payments to become due and payable thereunder and all rights of action in respect of any breach thereof and all rights to receive damages or obtain other relief in respect thereto. For the purposes of perfection and in connection with the creation of the security interests pursuant hereto the Issuer agrees to give all notices of assignment necessary to perfect the security interests (including, but not limited to, any which may from time to time be deemed necessary by the Note Trustee).Trustee).‌

CREATION OF FIXED SECURITY. 6.1 As continuing security for the payment or discharge of the Series 2023-1 (A3A2) Secured Obligations subject to Clause 9 (Redemption and Release) the Issuer with full title guarantee, in favour of the Note Trustee for itself and as trustee for the Note Trustee itself and on trust for the Series 2023-1 (A3A2) Secured Creditors, hereby: (a) assigns by way of first fixed security all the Benefit of the Issuer in the Class A3 A2 (2023-1) Loan Note; (b) assigns by way of first fixed security all the Benefit of the Issuer in the security interest created in favour of the Security Trustee by Funding 1 in respect of the Class A3 A2 (2023-1) Loan Note; (c) assigns by way of first fixed security all the Benefit of the Issuer in and to all monies credited in respect of the Series 2023-1 (A3A2) Charged Accounts; and (d) assigns by way of first fixed security all the Benefit of the Issuer in each Series 2023-1 (A3A2) Document (other than this Note Trust Deed Supplement) to which the Issuer is a party (and sums received or recoverable thereunder), including without limitation all rights to receive payment of any amount which may become payable to the Issuer thereunder (in respect of Series 2023-1 (A3A2)) or payments received by the Issuer thereunder (in respect of Series 2023-1 (A3A2)) or rights to serve notices and/or to take such steps as are required to cause payments to become due and payable thereunder and all rights of action in respect of any breach thereof and all rights to receive damages or obtain other relief in respect thereto. For the purposes of perfection and in connection with the creation of the security interests pursuant hereto the Issuer agrees to give all notices of assignment necessary to perfect the security interests (including, but not limited to, any which may from time to time be deemed necessary by the Note Trustee).

CREATION OF FIXED SECURITY. 6.1 As continuing security for the payment or discharge of the Series 20232020-1 (A3A4) Secured Obligations subject to Clause 9 (Redemption and Release) the Issuer with full title guarantee, in favour of the Note Trustee for itself and as trustee for the Note Trustee itself and on trust for the Series 20232020-1 (A3A4) Secured Creditors, hereby: (a) assigns by way of first fixed security all the Benefit of the Issuer in the Class A3 A4 (20232020-1) Loan Note; (b) assigns by way of first fixed security all the Benefit of the Issuer in the security interest created in favour of the Security Trustee by Funding 1 in respect of the Class A3 A4 (20232020-1) Loan Note; (c) assigns by way of first fixed security all the Benefit of the Issuer in and to all monies credited in respect of the Series 20232020-1 (A3A4) Charged Accounts; and (d) assigns by way of first fixed security all the Benefit of the Issuer in each Series 20232020-1 (A3A4) Document (other than this Note Trust Deed Supplement) to which the Issuer is a party (and sums received or recoverable thereunder), including without limitation all rights to receive payment of any amount which may become payable to the Issuer thereunder (in respect of Series 20232020-1 (A3A4)) or payments received by the Issuer thereunder (in respect of Series 20232020-1 (A3A4)) or rights to serve notices and/or to take such steps as are required to cause payments to become due and payable thereunder and all rights of action in respect of any breach thereof and all rights to receive damages or obtain other relief in respect thereto. For the purposes of perfection and in connection with the creation of the security interests pursuant hereto the Issuer agrees to give all notices of assignment necessary to perfect the security interests (including, but not limited to, any which may from time to time be deemed necessary by the Note Trustee).

CREATION OF FIXED SECURITY. 6.1 As continuing security for the payment or discharge of the Series 20232005-1 (A3) B Secured Obligations save to the extent that they constitute Jersey Assets and subject to Clause 9 8.3 (Redemption and Release) the Issuer with full title guarantee, in favour of the Note Trustee for itself and as trustee for the Note Trustee itself and on trust for the Series 20232005-1 (A3) B Secured Creditors, hereby: (a) 6.1.1 assigns by way of first fixed security all the Issuer's Benefit of the Issuer in the Class A3 (2023Series 2005-1) B Loan Note; (b) 6.1.2 assigns by way of first fixed security all the Issuer's Benefit of the Issuer in the security interest created in favour of the Security Trustee by Funding 1 the Loan Note Issuer pursuant to the Series 2005-B Loan Note Supplement in respect of the Class A3 (2023Series 2005-1) B Loan Note;; and (c) 6.1.3 assigns by way of first fixed security all the Issuer's Benefit in the Series 2005-B Issuer Distribution Account or to the relevant ledger of any bank or other account in which the Issuer in and to all monies credited may at any time in respect of the Series 20232005-1 (A3) Charged Accounts; andB have any Benefit in, (d) 6.1.4 assigns by way of first fixed security all the Issuer's Benefit of the Issuer in each Series 20232005-1 (A3) B Document (other than this Arran Funding Note Trust Deed SupplementSupplement and the Series 2005-B Subscription Agreement) to which the Issuer is a party (and sums received or recoverable thereunder), ; and including without limitation all rights to receive payment of any amount which may become payable to the Issuer thereunder (in respect of Series 20232005-1 (A3)B) or payments received by the Issuer thereunder (in respect of Series 20232005-1 (A3)B) or rights to serve notices and/or to take such steps as are required to cause payments to become due and payable thereunder and all rights of action in respect of any breach thereof and all rights to receive damages or obtain other relief in respect thereto. For the purposes of perfection and in connection with the creation of the security interests pursuant hereto the Issuer agrees to give all notices of assignment necessary to perfect the security interests (including, but not limited to, any which may from time to time be deemed necessary by the Note Trustee).

CREATION OF FIXED SECURITY. 6.1 As continuing security for the payment or discharge of the Series 20232005-1 (A3) A Secured Obligations save to the extent that they constitute Jersey Assets and subject to Clause 9 (Redemption and Release) the Issuer with full title guarantee, in favour of the Note Trustee for itself and as trustee for the Note Trustee itself and on trust for the Series 20232005-1 (A3) A Secured Creditors, hereby: (a) 6.1.1 assigns by way of first fixed security all the Issuer's Benefit of the Issuer in the Class A3 (2023Series 2005-1) A Loan Note; (b) 6.1.2 assigns by way of first fixed security all the Issuer's Benefit of the Issuer in the security interest created in favour of the Security Trustee by Funding 1 the Loan Note Issuer pursuant to the Series 2005-A Loan Note Supplement in respect of the Class A3 (2023Series 2005-1) A Loan Note;; and (c) 6.1.3 assigns by way of first fixed security all the Issuer's Benefit in the Series 2005-A Issuer Distribution Account or to the relevant ledger of any bank or other account in which the Issuer in and to all monies credited may at any time in respect of the Series 20232005-1 (A3) Charged Accounts; andA have any Benefit, (d) 6.1.4 assigns by way of first fixed security all the Issuer's Benefit of the Issuer in each Series 20232005-1 (A3) A Document (other than this Arran Funding Note Trust Deed SupplementSupplement and the Series 2005-A Subscription Agreement) to which the Issuer is a party (and sums received or recoverable thereunder), ; and including without limitation all rights to receive payment of any amount which may become payable to the Issuer thereunder (in respect of Series 20232005-1 (A3)A) or payments received by the Issuer thereunder (in respect of Series 20232005-1 (A3)A) or rights to serve notices and/or to take such steps as are required to cause payments to become due and payable thereunder and all rights of action in respect of any breach thereof and all rights to receive damages or obtain other relief in respect thereto. thereto For the purposes of perfection and in connection with the creation of the security interests pursuant hereto the Issuer agrees to give all notices of assignment necessary to perfect the security interests (including, but not limited to, any which may from time to time be deemed necessary by the Note Trustee).

CREATION OF FIXED SECURITY. 6.1 As continuing security for the payment or discharge of the Series 2023-1 (A3A1) Secured Obligations subject to Clause 9 (Redemption and Release) the Issuer with full title guarantee, in favour of the Note Trustee for itself and as trustee for the Note Trustee itself and on trust for the Series 2023-1 (A3A1) Secured Creditors, hereby: (a) assigns by way of first fixed security all the Benefit of the Issuer in the Class A3 A1 (2023-1) Loan Note; (b) assigns by way of first fixed security all the Benefit of the Issuer in the security interest created in favour of the Security Trustee by Funding 1 in respect of the Class A3 A1 (2023-1) Loan Note; (c) assigns by way of first fixed security all the Benefit of the Issuer in and to all monies credited in respect of the Series 2023-1 (A3A1) Charged Accounts; and (d) assigns by way of first fixed security all the Benefit of the Issuer in each Series 2023-1 (A3A1) Document (other than this Note Trust Deed Supplement) to which the Issuer is a party (and sums received or recoverable thereunder), including without limitation all rights to receive payment of any amount which may become payable to the Issuer thereunder (in respect of Series 2023-1 (A3A1)) or payments received by the Issuer thereunder (in respect of Series 2023-1 (A3A1)) or rights to serve notices and/or to take such steps as are required to cause payments to become due and payable thereunder and all rights of action in respect of any breach thereof and all rights to receive damages or obtain other relief in respect thereto. For the purposes of perfection and in connection with the creation of the security interests pursuant hereto the Issuer agrees to give all notices of assignment necessary to perfect the security interests (including, but not limited to, any which may from time to time be deemed necessary by the Note Trustee).

CREATION OF FIXED SECURITY. 6.1 As continuing security for the payment or discharge of the Series 20232007-1 (A3) Secured Obligations save to the extent that they constitute Jersey Assets and subject to Clause 9 (Redemption and Release) the Issuer with full title guarantee, in favour of the Note Trustee for itself and as trustee for the Note Trustee itself and on trust for the Series 20232007-1 (A3) Secured Creditors, hereby: (a) 6.1.1 assigns by way of first fixed security all the Issuer’s Benefit of the Issuer in the Class A3 (2023Series 2007-1) 1 Loan Note; (b) 6.1.2 assigns by way of first fixed security all the Issuer’s Benefit of the Issuer in the security interest created in favour of the Security Trustee by Funding the Loan Note Issuer No. 1 and the Loan Note Issuer No. 2 pursuant to the Series 2007-1 Loan Note Supplement in respect of the Class A3 (2023Series 2007-1) 1 Loan Note;; and (c) 6.1.3 assigns by way of first fixed security all the Issuer’s Benefit in the Series 2007-1 Issuer Distribution Account or to the relevant ledger of any bank or other account in which the Issuer in and to all monies credited may at any time in respect of the Series 20232007-1 (A3) Charged Accounts; andhave any Benefit, (d) 6.1.4 assigns by way of first fixed security all the Issuer’s Benefit of the Issuer in each Series 20232007-1 (A3) Document (other than the Note Trust Deed, this Note Trust Deed SupplementSupplement and the Series 2007-1 Subscription Agreement and, in respect of the Swap Agreements, subject to the application of the netting and set-off provisions contained therein) to which the Issuer is a party (and sums received or recoverable thereunder), including without limitation all rights to receive payment of any amount which may become payable to the Issuer thereunder (in respect of Series 20232007-1 (A3)1) or payments received by the Issuer thereunder (in respect of Series 20232007-1 (A3)1) or rights to serve notices and/or to take such steps as are required to cause payments to become due and payable thereunder and all rights of action in respect of any breach thereof and all rights to receive damages or obtain other relief in respect thereto. For the purposes of perfection and in connection with the creation of the security interests pursuant hereto the Issuer agrees to give all notices of assignment necessary to perfect the security interests (including, but not limited to, any which may from time to time be deemed necessary by the Note Trustee).

CREATION OF FIXED SECURITY. ‌ 6.1 As continuing security for the payment or discharge of the Series 2023-1 2 (A3A2) Secured Obligations subject to Clause 9 (Redemption and Release) the Issuer with full title guarantee, in favour of the Note Trustee for itself and as trustee for the Note Trustee itself and on trust for the Series 2023-1 2 (A3A2) Secured Creditors, hereby: (a) assigns by way of first fixed security all the Benefit of the Issuer in the Class A3 A2 (2023-12) Loan Note; (b) assigns by way of first fixed security all the Benefit of the Issuer in the security interest created in favour of the Security Trustee by Funding 1 in respect of the Class A3 A2 (2023-12) Loan Note; (c) assigns by way of first fixed security all the Benefit of the Issuer in and to all monies credited in respect of the Series 2023-1 2 (A3A2) Charged Accounts; and (d) assigns by way of first fixed security all the Benefit of the Issuer in each Series 2023-1 2 (A3A2) Document (other than this Note Trust Deed Supplement) to which the Issuer is a party (and sums received or recoverable thereunder), including without limitation all rights to receive payment of any amount which may become payable to the Issuer thereunder (in respect of Series 2023-1 2 (A3A2)) or payments received by the Issuer thereunder (in respect of Series 2023-1 2 (A3A2)) or rights to serve notices and/or to take such steps as are required to cause payments to become due and payable thereunder and all rights of action in respect of any breach thereof and all rights to receive damages or obtain other relief in respect thereto. For the purposes of perfection and in connection with the creation of the security interests pursuant hereto the Issuer agrees to give all notices of assignment necessary to perfect the security interests (including, but not limited to, any which may from time to time be deemed necessary by the Note Trustee).Trustee).‌