Common use of Exclusion of liens and interest Clause in Contracts

Exclusion of liens and interest. Save as expressly provided otherwise in this Agreement, the Paying Agents shall be entitled to deal with each amount paid to them under this Clause 7 (Payments to the Paying Agents) in the same manner as other amounts paid to them as bankers by their customers; provided, however, that: (a) they shall not exercise against the Current Issuer any lien, right of set-off or similar claim in respect thereof; (b) they shall not be liable to any person for interest thereon; and (c) funds received by the Paying Agents for the payment of any sums due in respect of any Current Issuer Notes shall be segregated only to the extent required by law.

Appears in 12 contracts

Samples: Issuer Paying Agent and Agent Bank Agreement (Granite Mortgages 03-3 PLC), Issuer Paying Agent and Agent Bank Agreement (Granite Mortgages 04-2 PLC), Issuer Paying Agent and Agent Bank Agreement (Granite Mortgages 03-3 PLC)

AutoNDA by SimpleDocs

Exclusion of liens and interest. Save as expressly provided otherwise in this Agreement, the Paying Agents shall be entitled to deal with each amount paid to them under this Clause 7 (Payments to the Paying Agents) in the same manner as other amounts paid to them as bankers by their customers; provided, however, that: (a) they shall not exercise against the Current Master Issuer any lien, right of set-off or similar claim in respect thereof; (b) they shall not be liable to any person for interest thereon; and (c) funds received by the Paying Agents for the payment of any sums due in respect of any Current Issuer Notes shall be segregated only to the extent required by law.

Appears in 3 contracts

Samples: Issuer Paying Agent and Agent Bank Agreement (Granite Finance Trustees LTD), Issuer Paying Agent and Agent Bank Agreement (Granite Finance Funding 2 LTD), Issuer Paying Agent and Agent Bank Agreement (Granite Finance Trustees LTD)

Exclusion of liens and interest. Save as expressly provided otherwise in this Agreement, the Paying Agents shall be entitled to deal with each amount paid to them under this Clause 7 (Payments to the Paying Agents) in the same manner as other amounts paid to them as bankers by their customers; provided, however, that: (a) they shall not exercise against the Current Issuer any lien, right of set-off or similar claim in respect thereof; (b) they shall not be liable to any person for interest thereon; and (c) funds received by the Paying Agents for the payment of any sums due in respect of any Current Issuer Notes shall be segregated only to the extent required by law.

Appears in 1 contract

Samples: Agency Agreement

AutoNDA by SimpleDocs

Exclusion of liens and interest. Save as expressly provided otherwise in this Agreement, the Paying Agents shall be entitled to deal with each amount paid to them under this Clause 7 (Payments to the Paying AgentsPAYMENTS TO THE PAYING AGENTS) in the same manner as other amounts paid to them as bankers by their customers; providedPROVIDED, howeverHOWEVER, thatTHAT: (a) they shall not exercise against the Current Issuer any lien, right of set-off or similar claim in respect thereof; (b) they shall not be liable to any person for interest thereon; and (c) funds received by the Paying Agents for the payment of any sums due in respect of any Current Issuer Notes shall be segregated only to the extent required by law.

Appears in 1 contract

Samples: Issuer Paying Agent and Agent Bank Agreement (Granite Mortgages 02-2 PLC)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!