Common use of Enforcement When Not All Amounts Due and Payable Clause in Contracts

Enforcement When Not All Amounts Due and Payable. If the Security Trustee enforces the Fourth Issuer Security at a time when either no amounts or not all amounts owing in respect of the Fourth Issuer Secured Obligations have become due and payable, the Security Trustee (or a Receiver) may, for so long as no such amounts or not all such amounts have become due and payable, pay any monies referred to in CLAUSE 6 (Payments out of the Fourth Issuer Accounts Upon Enforcement) into, and retain such monies in, an interest-bearing account (a RETENTION ACCOUNT) to be held by it as security and applied by it in accordance with CLAUSE 6 (Payments out of the Fourth Issuer Accounts Upon Enforcement) as and when any of the amounts referred to therein become due and payable.

Appears in 1 contract

Samples: Permanent Mortgages Trustee LTD

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Enforcement When Not All Amounts Due and Payable. If the Security Trustee enforces the Fourth Third Issuer Security at a time when either no amounts or not all amounts owing in respect of the Fourth Third Issuer Secured Obligations have become due and payable, the Security Trustee (or a Receiver) may, for so long as no such amounts or not all such amounts have become due and payable, pay any monies referred to in CLAUSE 6 (Payments out of the Fourth Third Issuer Accounts Upon Enforcement) into, and retain such monies in, an interest-bearing account (a RETENTION ACCOUNT) to be held by it as security and applied by it in accordance with CLAUSE 6 (Payments out of the Fourth Third Issuer Accounts Upon Enforcement) as and when any of the amounts referred to therein become due and payable.

Appears in 1 contract

Samples: Permanent Mortgages Trustee LTD

Enforcement When Not All Amounts Due and Payable. If the Security Trustee enforces the Fourth Fifth Issuer Security at a time when either no amounts or not all amounts owing in respect of the Fourth Fifth Issuer Secured Obligations have become due and payable, the Security Trustee (or a Receiver) may, for so long as no such amounts or not all such amounts have become due and payable, pay any monies referred to in CLAUSE 6 (Payments out of the Fourth Fifth Issuer Accounts Upon Enforcement) into, and retain such monies in, an interest-bearing account (a RETENTION ACCOUNT) to be held by it as security and applied by it in accordance with CLAUSE 6 (Payments out of the Fourth Fifth Issuer Accounts Upon Enforcement) as and when any of the amounts referred to therein become due and payable.

Appears in 1 contract

Samples: Permanent Financing (No. 5) PLC

Enforcement When Not All Amounts Due and Payable. If the Security Trustee enforces the Fourth Sixth Issuer Security at a time when either no amounts or not all amounts owing in respect of the Fourth Sixth Issuer Secured Obligations have become due and payable, the Security Trustee (or a Receiver) may, for so long as no such amounts or not all such amounts have become due and payable, pay any monies referred to in CLAUSE 6 (Payments out of the Fourth Sixth Issuer Accounts Upon Enforcement) into, and retain such monies in, an interest-bearing account (a RETENTION ACCOUNT) to be held by it as security and applied by it in accordance with CLAUSE 6 (Payments out of the Fourth Sixth Issuer Accounts Upon Enforcement) as and when any of the amounts referred to therein become due and payable.

Appears in 1 contract

Samples: Permanent Mortgages Trustee LTD

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Enforcement When Not All Amounts Due and Payable. If the Security Trustee enforces the Fourth Seventh Issuer Security at a time when either no amounts or not all amounts owing in respect of the Fourth Seventh Issuer Secured Obligations have become due and payable, the Security Trustee (or a Receiver) may, for so long as no such amounts or not all such amounts have become due and payable, pay any monies referred to in CLAUSE 6 (Payments out of the Fourth Seventh Issuer Accounts Upon Enforcement) into, and retain such monies in, an interest-bearing account (a RETENTION ACCOUNT) to be held by it as security and applied by it in accordance with CLAUSE 6 (Payments out of the Fourth Seventh Issuer Accounts Upon Enforcement) as and when any of the amounts referred to therein become due and payable.

Appears in 1 contract

Samples: Permanent Mortgages Trustee LTD

Enforcement When Not All Amounts Due and Payable. If the Issuer Security Trustee enforces the Fourth Issuer Security at a time when either no amounts or not all amounts owing in respect of the Fourth Issuer Secured Obligations have become due and payable, the Issuer Security Trustee (or a Receiver) may, for so long as no such amounts or not all such amounts have become due and payable, pay any monies referred to in CLAUSE Clause 6 (Payments out of the Fourth Issuer Accounts Upon EnforcementPrior to Acceleration) into, and retain such monies in, an interest-bearing account (a RETENTION ACCOUNT) to be held by it as security and applied by it in accordance with CLAUSE Clause 6 (Payments out of the Fourth Issuer Accounts Upon EnforcementPrior to Acceleration) as and when any of the amounts referred to therein become due and payable.

Appears in 1 contract

Samples: Permanent Funding (No. 2) LTD

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