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

Enforcement When Not All Amounts Due and Payable. If the Master Issuer Security Trustee enforces the Master Issuer Security at a time when either no amounts or not all amounts owing in respect of the Master Issuer Secured Liabilities have become due and payable, the Master 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 6 (Payments out of the Master Issuer Transaction Accounts Prior to Enforcement) herein 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 Master Issuer Transaction Accounts Prior to Enforcement) herein as and when any of the amounts referred to therein become due and payable.

Enforcement When Not All Amounts Due and Payable. If the Master Issuer Security Trustee enforces the Master Issuer Security at a time when either no amounts or not all amounts owing in respect of the Master Issuer Secured Liabilities have become due and payable, the Master 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 6 (Payments out of the Master Issuer Transaction Accounts Prior to EnforcementAcceleration) herein 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 Master Issuer Transaction Accounts Prior to EnforcementAcceleration) herein as and when any of the amounts referred to therein become due and payable.

Enforcement When Not All Amounts Due and Payable. If the Master Issuer Security Trustee enforces the Master Issuer Security at a time when either no amounts or not all amounts owing in respect of the Master Issuer Secured Liabilities have become due and payable, the Master 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 6 (Payments out of the Master Issuer Transaction Accounts Prior to Enforcement) herein into, and retain such monies in, an interest-bearing account (a RETENTION ACCOUNTretention account) to be held by it as security and applied by it in accordance with Clause 6 (Payments out of the Master Issuer Transaction Accounts Prior to Enforcement) herein as and when any of the amounts referred to therein become due and payable.. Back to Contents