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 Sixth Issuer Security at a time when either no amounts or not all amounts owing in respect of the 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 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 Sixth Issuer Accounts Upon Enforcement) as and when any of the amounts referred to therein become due and payable.

Appears in 1 contract

Samples: Deed of Charge (Permanent Mortgages Trustee LTD)

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Enforcement When Not All Amounts Due and Payable. If the Security Trustee enforces the Sixth Seventh Issuer Security at a time when either no amounts or not all amounts owing in respect of the Sixth 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 Sixth 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 Sixth Seventh Issuer Accounts Upon Enforcement) as and when any of the amounts referred to therein become due and payable.

Appears in 1 contract

Samples: Seventh Issuer Deed of Charge (Permanent Mortgages Trustee LTD)

Enforcement When Not All Amounts Due and Payable. If the Issuer Security Trustee enforces the Sixth Issuer Security at a time when either no amounts or not all amounts owing in respect of the Sixth 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 Sixth 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 Sixth 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: Issuer Deed of Charge (Permanent Funding (No. 2) LTD)

Enforcement When Not All Amounts Due and Payable. If the Security Trustee enforces the Sixth Fourth Issuer Security at a time when either no amounts or not all amounts owing in respect of the Sixth 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 Sixth 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 Sixth Fourth Issuer Accounts Upon Enforcement) as and when any of the amounts referred to therein become due and payable.

Appears in 1 contract

Samples: Deed of Charge (Permanent Mortgages Trustee LTD)

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Enforcement When Not All Amounts Due and Payable. If the Security Trustee enforces the Sixth Third Issuer Security at a time when either no amounts or not all amounts owing in respect of the Sixth 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 Sixth 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 Sixth Third Issuer Accounts Upon Enforcement) as and when any of the amounts referred to therein become due and payable.

Appears in 1 contract

Samples: Deed of Charge (Permanent Mortgages Trustee LTD)

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