DECLARATION OF RECEIVABLES TRUSTEE. With the consent and agreement of each of the existing Beneficiaries of the Delamare Cards Receivables Trust as set out in Clause 4.1 (Consent of Existing Beneficiaries) of this Supplement, the Receivables Trustee hereby declares that (i) the Loan Note Issuer No.1 shall be designated as a Beneficiary of the Delamare Cards Receivables Trust in its capacity as the Investor Beneficiary (Term), with effect from the payment of the Contribution referred to in Clause 2.2 (Categories of Additional Beneficiaries, Designation and Additional Funds) of this Supplement above and the issue of a duly executed and authenticated Investor Certificate to the Loan Note Issuer No.1 and the Receivables Trustee recording in the Trust Property Register the newly granted entitlement in respect of the De-Linked Trust Series on the Closing Date (and for the avoidance of doubt, such time shall be prior to the undertaking of calculations and allocations of Trust Property by the Receivables Trustee on the Closing Date), (ii) the Receivables Trust Deed and Servicing Agreement shall be supplemented and varied in the manner and to the extent set out below, and (iii) the Receivables Trust Deed and Servicing Agreement shall from such time on the Closing Date be read and construed for all purposes as supplemented and varied as set out in Schedule 1 (Supplement to the Receivables Trust Deed and Servicing Agreement and the Delamare Cards Receivables Trust) to this Supplement, and the Delamare Cards Receivables Trust shall be supplemented and varied accordingly:
DECLARATION OF RECEIVABLES TRUSTEE. With the consent of each of the existing Beneficiaries of the Receivables Trust as set out in Clause 5(a), the Receivables Trustee hereby declares that (i) the Loan Note Issuer shall become a Beneficiary of the Receivables Trust in its capacity as the Series 2005-A Investor Beneficiary, with effect from the payment of the contribution referred to in Clause 3(b) above and the issue or annotation (as the case may be) of a duly executed and authenticated Investor Certificate to the Loan Note Issuer (including the newly granted entitlement in respect of Series 2005-A) on the Closing Date (and for the avoidance of doubt such time shall be prior to the undertaking of calculations and allocations of Trust Property by the Trust Cash Manager on the Closing Date), (ii) the Receivables Trust Deed and Trust Cash Management Agreement shall be supplemented and varied in the manner and to the extent set out below and (iii) the Receivables Trust Deed and Trust Cash Management Agreement shall from such time on the Closing Date be read and construed for all purposes as supplemented and varied as set out in the Schedule to this Supplement and the Receivables Trust shall be supplemented and varied accordingly:
