Common use of CURRENT FUNDING SHARE PERCENTAGE Clause in Contracts

CURRENT FUNDING SHARE PERCENTAGE. (a) On each Distribution Date (the "Relevant Distribution Date"), the "Current Funding Share Percentage" will be calculated by the Cash Manager in respect of the then-current Trust Calculation Period or related Interim Calculation Period, as applicable, for the purpose of calculating the distributions to be made from the Trust Property on the immediately succeeding Distribution Date, and such Current Funding Share Percentage will be an amount, expressed as a percentage (calculated to an accuracy of five decimal places (rounded upwards)), equal to: A-B-C+D ------- x 100 G where, A = the Current Funding Share as calculated (a) on the later of the Distribution Date, the Assignment Date or Funding Contribution Date (if any) immediately preceding such Relevant Distribution Date, or (b) in the case of the first Distribution Date, the Initial Funding Share as at the Initial Closing Date; B = the amount of any Principal Receipts distributed to Funding on such Relevant Distribution Date in accordance with the provisions described in Clause 11 (Distribution of Principal Receipts) below; C = the amount of any Losses sustained on the Mortgage Loans during the Trust Calculation Period immediately preceding such Relevant Distribution Date and the amount of any reductions occurring in respect of the Mortgage Loans as described in paragraphs (a) through (e) of Clause 8.5 (Adjustments to Trust Property) (inclusive) below which have been allocated to Funding in the Trust Calculation Period ending on the Relevant Distribution Date (based on (a) the Funding Share Percentage thereof calculated on the Distribution Date immediately preceding such Relevant Distribution Date (provided that the Seller had not sold and assigned New Mortgage Loans to the Mortgages Trustee or that Funding had not paid a Further Contribution to the Mortgages Trustee in the Trust Calculation Period immediately preceding such Relevant Distribution Date), or (b) to the extent that the Seller had sold and assigned New Mortgage Loans to the Mortgages Trustee or that Funding had paid a Further Contribution to the Mortgages Trustee during the Trust Calculation Period immediately preceding such Relevant Distribution Date, the Weighted Average Funding Share Percentage (as defined below) thereof calculated on such Relevant Distribution Date prior to the distribution to be made on such Relevant Distribution Date, or (c) in the case of the first Distribution Date, the Initial Funding Share Percentage); D = an amount equal to any Capitalised Arrears which have been allocated to Funding during the Trust Calculation Period immediately preceding such Relevant Distribution Date (based on the Funding Share Percentage thereof calculated on the Distribution Date immediately preceding such Relevant Distribution Date or, in the case of the first Distribution Date, the Initial Funding Share Percentage);

CURRENT FUNDING SHARE PERCENTAGE. (a) On each Distribution Date (the "Relevant Distribution Date"), the "Current Funding Share Percentage" will be calculated by the Cash Manager in respect of the then-current Trust Calculation Period or related Interim Calculation Period, as applicable, for the purpose of calculating the distributions to be made from the Trust Property on the immediately succeeding Distribution Date, and such Current Funding Share Percentage will be an amount, expressed as a percentage (calculated to an accuracy of five decimal places (rounded upwards)), equal to: A-B-C+D ------- A - B - C + D ------------- x 100 G where, A = the Current Funding Share as calculated (a) on the later of the Distribution Date, the Assignment Date or Funding Contribution Date (if any) immediately preceding such Relevant Distribution Date, or (b) in the case of the first Distribution Date, the Initial Funding Share as at the Initial Closing Date; B = the amount of any Principal Receipts distributed to Funding on such Relevant Distribution Date in accordance with the provisions described in Clause 11 (Distribution of Principal Receipts) below; C = the amount of any Losses sustained on the Mortgage Loans during the Trust Calculation Period immediately preceding such Relevant Distribution Date and the amount of any reductions occurring in respect of the Mortgage Loans as described in paragraphs (a) through (e) of Clause 8.5 (Adjustments to Trust Property) (inclusive) below which have been allocated to Funding in the Trust Calculation Period ending on the Relevant Distribution Date (based on (a) the Funding Share Percentage thereof calculated on the Distribution Date immediately preceding such Relevant Distribution Date (provided that the Seller had not sold and assigned New Mortgage Loans to the Mortgages Trustee or that Funding had not paid a Further Contribution to the Mortgages Trustee in the Trust Calculation Period immediately preceding such Relevant Distribution Date), or (b) to the extent that the Seller had sold and assigned New Mortgage Loans to the Mortgages Trustee or that Funding had paid a Further Contribution to the Mortgages Trustee during the Trust Calculation Period immediately preceding such Relevant Distribution Date, the Weighted Average Funding Share Percentage (as defined below) thereof calculated on such Relevant Distribution Date prior to the distribution to be made on such Relevant Distribution Date, or (c) in the case of the first Distribution Date, the Initial Funding Share Percentage); D = an amount equal to any Capitalised Arrears which have been allocated to Funding during the Trust Calculation Period immediately preceding such Relevant Distribution Date (based on the Funding Share Percentage thereof calculated on the Distribution Date immediately preceding such Relevant Distribution Date or, in the case of the first Distribution Date, the Initial Funding Share Percentage);

CURRENT FUNDING SHARE PERCENTAGE. (a) On each Distribution Date (the "Relevant Distribution DateRELEVANT DISTRIBUTION DATE"), the "Current Funding Share PercentageCURRENT FUNDING SHARE PERCENTAGE" will be calculated by the Cash Manager in respect of the then-current Trust Calculation Period or related Interim Calculation Period, as applicable, for the purpose of calculating the distributions to be made from the Trust Property on the immediately succeeding Distribution Date, and such Current Funding Share Percentage will be an amount, expressed as a percentage (calculated to an accuracy of five decimal places (rounded upwards)), equal to: A-B-C+D ------- x 100 G where, A = the Current Funding Share as calculated (a) on the later of the Distribution Date, the Assignment Date or Funding Contribution Date (if any) immediately preceding such Relevant Distribution Date, or (b) in the case of the first Distribution Date, the Initial Funding Share as at the Initial Closing Date; B = the amount of any Principal Receipts distributed to Funding on such Relevant Distribution Date in accordance with the provisions described in Clause 11 (Distribution of Principal Receipts) below; C = the amount of any Losses sustained on the Mortgage Loans during the Trust Calculation Period immediately preceding such Relevant Distribution Date and the amount of any reductions occurring in respect of the Mortgage Loans as described in paragraphs (a) through (e) of Clause 8.5 (Adjustments to Trust Property) (inclusive) below which have been allocated to Funding in the Trust Calculation Period ending on the Relevant Distribution Date (based on (a) the Funding Share Percentage thereof calculated on the Distribution Date immediately preceding such Relevant Distribution Date (provided that the Seller had not sold and assigned New Mortgage Loans to the Mortgages Trustee or that Funding had not paid a Further Contribution to the Mortgages Trustee in the Trust Calculation Period immediately preceding such Relevant Distribution Date), or (b) to the extent that the Seller had sold and assigned New Mortgage Loans to the Mortgages Trustee or that Funding had paid a Further Contribution to the Mortgages Trustee during the Trust Calculation Period immediately preceding such Relevant Distribution Date, the Weighted Average Funding Share Percentage (as defined below) thereof calculated on such Relevant Distribution Date prior to the distribution to be made on such Relevant Distribution Date, or (c) in the case of the first Distribution Date, the Initial Funding Share Percentage); D = an amount equal to any Capitalised Arrears which have been allocated to Funding during the Trust Calculation Period immediately preceding such Relevant Distribution Date (based on the Funding Share Percentage thereof calculated on the Distribution Date immediately preceding such Relevant Distribution Date or, in the case of the first Distribution Date, the Initial Funding Share Percentage);

CURRENT FUNDING SHARE PERCENTAGE. (aA) On each Distribution Date (the "Relevant Distribution Date"), the "Current Funding Share Percentage" will be calculated by the Cash Manager in respect of the then-current Trust Calculation Period or related Interim Calculation Period, as applicable, for the purpose of calculating the distributions to be made from the Trust Property on the immediately succeeding Distribution Date, and such Current Funding Share Percentage will be an amount, expressed as a percentage (calculated to an accuracy of five decimal places (rounded upwards)), equal to: A-B-C+D ------- A - B -C + D ------------ x 100 G where, A = the Current Funding Share as calculated (a) on the later of the Distribution Date, the Assignment Date or Funding Contribution Date (if any) immediately preceding such Relevant Distribution Date, or (b) in the case of the first Distribution Date, the Initial Funding Share as at the Initial Closing Date; B = the amount of any Principal Receipts distributed to Funding on such Relevant Distribution Date in accordance with the provisions described in Clause 11 (Distribution of Principal Receipts) below; C = the amount of any Losses sustained on the Mortgage Loans during the Trust Calculation Period immediately preceding such Relevant Distribution Date and the amount of any reductions occurring in respect of the Mortgage Loans as described in paragraphs paragraph (a) through (eA) of Clause 8.5 (Adjustments to Trust Property) (inclusive) below which have been allocated to Funding in the Trust Calculation Period ending on the Relevant Distribution Date (based on (a) the Current Funding Share Percentage thereof calculated on the Distribution Date immediately preceding such Relevant Distribution Date (provided that the Seller had not sold and assigned New Mortgage Loans to the Mortgages Trustee or that Funding had not paid a Further Contribution to the Mortgages Trustee in the Trust Calculation Period immediately preceding such Relevant Distribution Date), or (b) to the extent that the Seller had sold and assigned New Mortgage Loans to the Mortgages Trustee or that Funding had paid a Further Contribution to the Mortgages Trustee during the Trust Calculation Period immediately preceding such Relevant Distribution Date, the Weighted Average Funding Share Percentage (as defined below) thereof calculated on such Relevant Distribution Date prior to the distribution to be made on such Relevant Distribution Date, or (c) in the case of the first Distribution Date, the Initial Funding Share Percentage); D = an amount equal to any Capitalised Arrears which have been allocated to Funding during the Trust Calculation Period immediately preceding such Relevant Distribution Date (based on the Current Funding Share Percentage thereof calculated on the Distribution Date immediately preceding such Relevant Distribution Date or, in the case of the first Distribution Date, the Initial Funding Share Percentage);; and

CURRENT FUNDING SHARE PERCENTAGE. (a) On each Distribution Date (the "Relevant Distribution DateRELEVANT DISTRIBUTION DATE")) or on the date that the Mortgages Trust terminates, the "Current Funding Share PercentageCURRENT FUNDING SHARE PERCENTAGE" will be calculated by the Cash Manager in respect of the then-current Trust Calculation Period or related Interim Calculation Period, as applicable, for the purpose of calculating the distributions to be made from the Trust Property on the immediately succeeding Distribution Date, and such Current Funding Share Percentage will be an amount, expressed as a percentage (calculated to an accuracy of five three decimal places (rounded upwards)), equal to: A-B-C+D ------- A - B - C + D + E + F --------------------- x 100 G where, A = the Current Funding Share as calculated (a) on at the later of the immediately preceding Distribution Date, the Assignment Date or Funding Contribution Date (if any) immediately preceding such Relevant Distribution Dateor, or (b) in the case of the first Distribution Date, the Initial Funding Share as at the Initial Closing Date); B = the amount of any Principal Receipts distributed to Funding on such that Relevant Distribution Date in accordance with the provisions described in Clause 11 (Distribution of Principal Receipts) CLAUSE 9 below; C = the amount of any Losses sustained on the Mortgage Loans during in the Trust Calculation Period immediately preceding such Relevant period from the last Distribution Date and the amount of any reductions occurring in respect of the Mortgage Loans as described in paragraphs (a) through (e) of Clause 8.5 (Adjustments to Trust Property) (inclusive) below which have been allocated to Funding in the Trust Calculation Period ending on the Relevant Distribution Date (based on (a) the Funding Share Percentage thereof calculated on the Distribution Date immediately preceding such Relevant Distribution Date (provided that the Seller had not sold and assigned New Mortgage Loans to the Mortgages Trustee or that Funding had not paid a Further Contribution to the Mortgages Trustee in the Trust Calculation Period immediately preceding such Relevant Distribution Date), or (b) to the extent that the Seller had sold and assigned New Mortgage Loans to the Mortgages Trustee or that Funding had paid a Further Contribution to the Mortgages Trustee during the Trust Calculation Period immediately preceding such Relevant Distribution Date, the Weighted Average Funding Share Percentage (as defined below) thereof calculated on such Relevant Distribution Date prior to the distribution to be made on such Relevant Distribution Date, or (c) in the case of the first Distribution Date, the Initial Funding Share Percentage); D = an amount equal to any Capitalised Arrears which have been allocated to Funding during the Trust Calculation Period immediately preceding such Relevant Distribution Date (based on the Funding Share Percentage thereof calculated on the Distribution Date immediately preceding such Relevant Distribution Date or, in the case of the first Distribution Date, the Initial Funding Share Percentage) in the Distribution Period ending on the Relevant Distribution Date; D = an amount equal to any consideration (excluding Deferred Consideration) paid by Funding to the Seller in relation to any New Loans assigned to the Mortgages Trustee on the Relevant Distribution Date; E = an amount equal to any consideration (excluding Deferred Consideration) paid by Funding to the Seller in relation to any acquisition by Funding from the Seller on the Relevant Distribution Date of a portion of the then Current Seller Share of the Trust Property; F = an amount equal to any Capitalised Interest accruing on a loan due to Borrowers taking Payment Holidays and/or making Underpayments since the last Distribution Date less the amount paid by the Seller on the Relevant Distribution Date to acquire an interest in the Trust Property in accordance with CLAUSE 5 above; and G = the aggregate Outstanding Principal Balance of all the Loans constituting the Trust Property as at the Relevant Distribution Date including (i) after making the distributions, allocations and additions referred to in (B);, (C), (D), (E) and (F) above, (ii) after taking account of any distributions of Principal Receipts to Funding and the Seller, the amount of any Losses allocated to Funding and the Seller and the amount of any other additions or subtractions to the Trust Property and (ii) after making the adjustments referred to paragraphs (a) to (e) (inclusive) of CLAUSE 8.4 below.

CURRENT FUNDING SHARE PERCENTAGE. (a) On each Distribution Date (the "Relevant Distribution DateRELEVANT DISTRIBUTION DATE"), the "Current Funding Share PercentageCURRENT FUNDING SHARE PERCENTAGE" will be calculated by the Cash Manager in respect of the then-current Trust Calculation Period or related Interim Calculation Period, as applicable, for the purpose of calculating the distributions to be made from the Trust Property on the immediately succeeding Distribution Date, and such Current Funding Share Percentage will be an amount, expressed as a percentage (calculated to an accuracy of five decimal places (rounded upwards)), equal to: A-B-C+D ------- x 100 G where, A = the Current Funding Share as calculated (a) on the later of the Distribution Date, the Assignment Date or Funding Contribution Date (if any) immediately preceding such Relevant Distribution Date, or (b) in the case of the first Distribution Date, the Initial Funding Share as at the Initial Closing Date; B = the amount of any Principal Receipts distributed to Funding on such Relevant Distribution Date in accordance with the provisions described in Clause 11 (Distribution of Principal Receipts) below; C = the amount of any Losses sustained on the Mortgage Loans during the Trust Calculation Period immediately preceding such Relevant Distribution Date and the amount of any reductions occurring in respect of the Mortgage Loans as described in paragraphs (a) through (e) of Clause 8.5 (Adjustments to Trust Property) (inclusive) below which have been allocated to Funding in the Trust Calculation Period ending on the Relevant relevant Distribution Date (based on (a) the Funding Share Percentage thereof calculated on the Distribution Date immediately preceding such Relevant Distribution Date (provided that the Seller had not sold and assigned New Mortgage Loans to the Mortgages Trustee or that Funding had not paid a Further Contribution to the Mortgages Trustee in the Trust Calculation Period immediately preceding such Relevant Distribution Date), or (b) to the extent that the Seller had sold and assigned New Mortgage Loans to the Mortgages Trustee or that Funding had paid a Further Contribution to the Mortgages Trustee during the Trust Calculation Period immediately preceding such Relevant Distribution Date, the Weighted Average Funding Share Percentage (as defined below) thereof calculated on such Relevant Distribution Date prior to the distribution to be made on such Relevant Distribution Date, or (c) in the case of the first Distribution Date, the Initial Funding Share Percentage); D = an amount equal to any Initial Contribution paid by Funding to the Mortgages Trustee during the Trust Calculation Period immediately preceding such Relevant Distribution Date in relation to the Funding Share of any New Trust Property assigned to the Mortgages Trustee during such Trust Calculation Period (which amount the Mortgages Trustee is required pursuant to Clause 4.3 (Application by Mortgages Trustee) to pay to the Seller in satisfaction of the Mortgages Trustee's obligation to pay to the Seller the Initial Purchase Price in respect of New Mortgage Loans assigned to the Mortgages Trustee during such period); E = an amount equal to any Further Contribution paid by Funding to the Mortgages Trustee during the Trust Calculation Period immediately preceding such Relevant Distribution Date to increase the Funding Share of the Trust Property (which amount the Mortgages Trustee is required pursuant to Clause 6.3 (Special Distribution) to pay to the Seller as a Beneficiary, thereby reducing the amount of the Seller Share); F = an amount equal to any Capitalised Arrears which have been allocated to Funding during the Trust Calculation Period immediately preceding such Relevant Distribution Date (based on the Funding Share Percentage thereof calculated on the Distribution Date immediately preceding such Relevant Distribution Date or, in the case of the first Distribution Date, the Initial Funding Share Percentage);; G = the aggregate Current Balance of all the Mortgage Loans in the Trust Property as at the last day of the Trust Calculation Period immediately preceding such Relevant Distribution Date, after making the distributions, allocations and additions referred to in (B), (C), (D), (E) and (F) above and after taking account of (i) the assignment, if any, of New Mortgage Loans during the Trust Calculation Period immediately preceding such Relevant Distribution Date, (ii) any distribution of Principal Receipts to the Seller (including the payment of any Special Distribution to the Seller) and to Funding, (iii) the amount of any Losses allocated to the Seller and to Funding, (iv) the adjustments referred to in paragraphs (a) through (e) of Clause 8.5 (Adjustments to Trust Property) (inclusive) below; and (v) the amount of any other additions to or removals from the Trust Property during such Trust Calculation Period, including without limitation, any additions to the Trust Property resulting from Cash Re-draws and Non-Cash Redraws by Borrowers under Flexible Mortgage Loans which are in the Trust Property or (if the Seller subsequently elects not to repurchase Mortgage Loans which are the subject of Further Advances from the Mortgages Trustee) Further Advances assigned by the Seller.

CURRENT FUNDING SHARE PERCENTAGE. (a) On each Distribution Date (the "Relevant Distribution Date"), or at such time as the Mortgages Trust terminates, the "Current Funding Share Percentage" will be calculated by the Cash Manager in respect of the then-current Trust Calculation Period or related Interim Calculation Period, as applicable, for the purpose of calculating the distributions to be made from the Trust Property on the immediately succeeding Distribution Date, and such Current Funding Share Percentage will be an amount, expressed as a percentage (calculated to an accuracy of five decimal places (rounded upwards)), equal to: A-B-C+D ------- A - B - C + D + E + F --------------------- x 100 G where, A = the Current Funding Share as calculated (a) on the later of the Distribution Date, the Assignment Date or Funding Contribution Date (if any) immediately preceding such Relevant Distribution Date, or (b) in the case of the first Distribution Date, the Initial Funding Share as at the Initial Closing Date; B = the amount of any Principal Receipts distributed to Funding on such Relevant Distribution Date in accordance with the provisions described in Clause 11 (Distribution of Principal Receipts) below; C = the amount of any Losses sustained on the Mortgage Loans during the Trust Calculation Period immediately preceding such Relevant Distribution Date and the amount of any reductions occurring in respect of the Mortgage Loans as described in paragraphs (a) through (e) of Clause 8.5 (Adjustments to Trust Property) (inclusive) below which have been allocated to Funding in the Trust Calculation Period ending on the Relevant Distribution Date (based on (a) the Funding Share Percentage thereof calculated on the Distribution Date immediately preceding such Relevant Distribution Date (provided that the Seller had not sold and assigned New Mortgage Loans to the Mortgages Trustee or that Funding had not paid a Further Contribution to the Mortgages Trustee in the Trust Calculation Period immediately preceding such Relevant Distribution Date), or (b) to the extent that the Seller had sold and assigned New Mortgage Loans to the Mortgages Trustee or that Funding had paid a Further Contribution to the Mortgages Trustee during the Trust Calculation Period immediately preceding such Relevant Distribution Date, the Weighted Average Funding Share Percentage (as defined below) thereof calculated on such Relevant Distribution Date prior to the distribution to be made on such Relevant Distribution Date, or (c) in the case of the first Distribution Date, the Initial Funding Share Percentage); D = an amount equal to any Initial Contribution paid by Funding to the Mortgages Trustee during the Trust Calculation Period immediately preceding such Relevant Distribution Date in relation to the Funding Share of any New Trust Property assigned to the Mortgages Trustee during such Trust Calculation Period (which amount the Mortgages Trustee is required pursuant to Clause 4.3 (Application by Mortgages Trustee) to pay to the Seller in satisfaction of the Mortgages Trustee's obligation to pay to the Seller the Initial Purchase Price in respect of New Mortgage Loans assigned to the Mortgages Trustee during such period); E = an amount equal to any Further Contribution paid by Funding to the Mortgages Trustee during the Trust Calculation Period immediately preceding such Relevant Distribution Date to increase the Funding Share of the Trust Property (which amount the Mortgages Trustee is required pursuant to Clause 6.3 (Special Distribution) to pay to the Seller as a Beneficiary, thereby reducing the amount of the Seller Share); F = an amount equal to any Capitalised Arrears which have been allocated to Funding during the Trust Calculation Period immediately preceding such Relevant Distribution Date (based on the Funding Share Percentage thereof calculated on the Distribution Date immediately preceding such Relevant Distribution Date or, in the case of the first Distribution Date, the Initial Funding Share Percentage);; G = the aggregate Current Balance of all the Mortgage Loans in the Trust Property as at the last day of the Trust Calculation Period immediately preceding such Relevant Distribution Date, after making the distributions, allocations and additions referred to in (B), (C), (D), (E) and (F) above and after taking account of (i) the assignment, if any, of New Mortgage Loans during the Trust Calculation Period immediately preceding such Relevant Distribution Date, (ii) any distribution of Principal Receipts to the Seller (including the payment of any Special Distribution to the Seller) and to Funding, (iii) the amount of any Losses allocated to the Seller and to Funding, (iv) the adjustments referred to in paragraphs (a) through (e) of Clause 8.5 (Adjustments to Trust Property) (inclusive) below; (v) the amount of any other additions to or removals from the Trust Property during such Trust Calculation Period, including without limitation, any additions to the Trust Property resulting from Cash Re-draws and Non-Cash Redraws by Borrowers under Flexible Mortgage Loans which are in the Trust Property or (if the Seller subsequently elects not to repurchase Mortgage Loans which are the subject of Further Advances from the Mortgages Trustee) Further Advances assigned by the Seller; and (vi) any reduction in the outstanding principal balances of Together Connections Mortgage Loans resulting from Borrowers being allocated a portion of the related Together Connections Benefit under such Mortgage Loans.

CURRENT FUNDING SHARE PERCENTAGE. (a) On each Distribution Date (the "Relevant Distribution Date"), the "Current Funding Share Percentage" will be calculated by the Cash Manager in respect of the then-current Trust Calculation Period or related Interim Calculation Period, as applicable, for the purpose of calculating the distributions to be made from the Trust Property on the immediately succeeding Distribution Date, and such Current Funding Share Percentage will be an amount, expressed as a percentage (calculated to an accuracy of five decimal places (rounded upwards)), equal to: A-B-C+D ------- x 100 ======= x100 G where, A = A= the Current Funding Share as calculated (a) on the later of the Distribution Date, the Assignment Date or Funding Contribution Date (if any) immediately preceding such Relevant Distribution Date, or (b) in the case of the first Distribution Date, the Initial Funding Share as at the Initial Closing Date; B = B= the amount of any Principal Receipts distributed to Funding on such Relevant Distribution Date in accordance with the provisions described in Clause 11 (Distribution of Principal Receipts) below; C = C= the amount of any Losses sustained on the Mortgage Loans during the Trust Calculation Period immediately preceding such Relevant Distribution Date and the amount of any reductions occurring in respect of the Mortgage Loans as described in paragraphs (a) through (e) of Clause 8.5 (Adjustments to Trust Property) (inclusive) below which have been allocated to Funding in the Trust Calculation Period ending on the Relevant Distribution Date (based on (a) the Funding Share Percentage thereof calculated on the Distribution Date immediately preceding such Relevant Distribution Date (provided that the Seller had not sold and assigned New Mortgage Loans to the Mortgages Trustee or that Funding had not paid a Further Contribution to the Mortgages Trustee in the Trust Calculation Period immediately preceding such Relevant Distribution Date), or (b) to the extent that the Seller had sold and assigned New Mortgage Loans to the Mortgages Trustee or that Funding had paid a Further Contribution to the Mortgages Trustee during the Trust Calculation Period immediately preceding such Relevant Distribution Date, the Weighted Average Funding Share Percentage (as defined below) thereof calculated on such Relevant Distribution Date prior to the distribution to be made on such Relevant Distribution Date, or (c) in the case of the first Distribution Date, the Initial Funding Share Percentage); D = D= an amount equal to any Capitalised Arrears which have been allocated to Funding during the Trust Calculation Period immediately preceding such Relevant Distribution Date (based on the Funding Share Percentage thereof calculated on the Distribution Date immediately preceding such Relevant Distribution Date or, in the case of the first Distribution Date, the Initial Funding Share Percentage);

CURRENT FUNDING SHARE PERCENTAGE. (aA) On each Distribution Date (the "Relevant Distribution Date"), the "Current Funding Share Percentage" will be calculated by the Cash Manager in respect of the then-current Trust Calculation Period or related Interim Calculation Period, as applicable, for the purpose of calculating the distributions to be made from the Trust Property on the immediately succeeding Distribution Date, and such Current Funding Share Percentage will be an amount, expressed as a percentage (calculated to an accuracy of five decimal places (rounded upwards)), equal to: A-B-C+D ------- x 100 ------- G where, A = the Current Funding Share as calculated (a) on the later of the Distribution Date, the Assignment Date or Funding Contribution Date (if any) immediately preceding such Relevant Distribution Date, or (b) in the case of the first Distribution Date, the Initial Funding Share as at the Initial Closing Date; B = the amount of any Principal Receipts distributed to Funding on such Relevant Distribution Date in accordance with the provisions described in Clause 11 (Distribution of Principal Receipts) below; C = the amount of any Losses sustained on the Mortgage Loans during the Trust Calculation Period immediately preceding such Relevant Distribution Date and the amount of any reductions occurring in respect of the Mortgage Loans as described in paragraphs (a) A through (e) E of Clause 8.5 (Adjustments to Trust Property) (inclusive) below which have been allocated to Funding in the Trust Calculation Period ending on the Relevant Distribution Date (based on (a) the Current Funding Share Percentage thereof calculated on the Distribution Date immediately preceding such Relevant Distribution Date (provided that the Seller had not sold and assigned New Mortgage Loans to the Mortgages Trustee or that Funding had not paid a Further Contribution to the Mortgages Trustee in the Trust Calculation Period immediately preceding such Relevant Distribution Date), or (b) to the extent that the Seller had sold and assigned New Mortgage Loans to the Mortgages Trustee or that Funding had paid a Further Contribution to the Mortgages Trustee during the Trust Calculation Period immediately preceding such Relevant Distribution Date, the Weighted Average Funding Share Percentage (as defined below) thereof calculated on such Relevant Distribution Date prior to the distribution to be made on such Relevant Distribution Date, or (c) in the case of the first Distribution Date, the Initial Funding Share Percentage); D = an amount equal to any Capitalised Arrears which have been allocated to Funding during the Trust Calculation Period immediately preceding such Relevant Distribution Date (based on the Current Funding Share Percentage thereof calculated on the Distribution Date immediately preceding such Relevant Distribution Date or, in the case of the first Distribution Date, the Initial Funding Share Percentage);; and

CURRENT FUNDING SHARE PERCENTAGE. (a) On each Distribution Date (the "Relevant Distribution DateRELEVANT DISTRIBUTION DATE"), or at such time as the Mortgages Trust terminates, the "Current Funding Share PercentageCURRENT FUNDING SHARE PERCENTAGE" will be calculated by the Cash Manager in respect of the then-current Trust Calculation Period or related Interim Calculation Period, as applicable, for the purpose of calculating the distributions to be made from the Trust Property on the immediately succeeding Distribution Date, and such Current Funding Share Percentage will be an amount, expressed as a percentage (calculated to an accuracy of five decimal places (rounded upwards)), equal to: A-B-C+D ------- --------- x 100 G where, A = the Current Funding Share as calculated (a) on the later latter of the Distribution Date, the Assignment Date or Funding Contribution Date (if any) immediately preceding such Relevant Distribution Date, or (b) in the case of the first Distribution Date, the Initial Funding Share as at the Initial Closing Date; B = the amount of any Principal Receipts distributed to Funding on such Relevant Distribution Date in accordance with the provisions described in Clause 11 (Distribution of Principal Receipts) below; C = the amount of any Losses sustained on the Mortgage Loans during the Trust Calculation Period immediately preceding such Relevant Distribution Date and the amount of any reductions occurring in respect of the Mortgage Loans as described in paragraphs (a) through (e) of Clause 8.5 (Adjustments to Trust Property) (inclusive) below which have been allocated to Funding in the Trust Calculation Period ending on the Relevant Distribution Date (based on (a) the Funding Share Percentage thereof calculated on the Distribution Date immediately preceding such Relevant Distribution Date (provided that the Seller had not sold and assigned New Mortgage Loans to the Mortgages Trustee or that Funding had not paid a Further Contribution to the Mortgages Trustee in the Trust Calculation Period immediately preceding such Relevant Distribution Date), or (b) to the extent that the Seller had sold and assigned New Mortgage Loans to the Mortgages Trustee or that Funding had paid a Further Contribution to the Mortgages Trustee during the Trust Calculation Period immediately preceding such Relevant Distribution Date, the Weighted Average Funding Share Percentage (as defined below) thereof calculated on such Relevant Distribution Date prior to the distribution to be made on such Relevant Distribution Date, or (c) in the case of the first Distribution Date, the Initial Funding Share Percentage); D = an amount equal to any Capitalised Arrears which have been allocated to Funding during the Trust Calculation Period immediately preceding such Relevant Distribution Date (based on the Funding Share Percentage thereof calculated on the Distribution Date immediately preceding such Relevant Distribution Date or, in the case of the first Distribution Date, the Initial Funding Share Percentage);; G = the amount of the Mortgages Trustee Retained Principal Receipts (if any) plus the aggregate Current Balance of all the Mortgage Loans in the Trust Property as at the last day of the Trust Calculation Period immediately preceding such Relevant Distribution Date or, if applicable, on the relevant Assignment Date or Funding Contribution Date, after making the distributions, allocations and additions referred to in (B), (C) and (D) above and after taking account of (i) any distribution of Principal Receipts to the Seller and to Funding, (ii) the amount of any Losses allocated to the Seller and to Funding, (iii) the adjustments referred to in paragraphs (a) through (e) of Clause 8.5 (Adjustments to Trust Property) (inclusive) below; (iv) the amount of any other additions to or removals from the Trust Property during such Trust Calculation Period, including without limitation, any additions to the Trust Property resulting from Cash Re-draws and Non-Cash Redraws by Borrowers under Flexible Mortgage Loans which are in the Trust Property or (if the Seller subsequently elects not to repurchase Mortgage Loans which are the subject of Further Advances from the Mortgages Trustee) Further Advances assigned by the Seller; but excluding the addition of mortgage loans on an Assignment Date and any Initial Contribution or Further Contribution made by Funding during such Trust Calculation Period and (v) any reduction in the outstanding principal balances of Together Connections Mortgage Loans resulting from Borrowers being allocated a portion of the related Together Connections Benefit under such Mortgage Loans.