Fee payable. (a) Subject to paragraph (b) below, Funding and the Mortgages Trustee, proportionately in accordance with and subject to the applicable Funding Priority of Payments set out in the Funding Deed of Charge and the applicable Priority of Payments for the Mortgages Trustee under the Mortgages Trust Deed, as the case may be, shall pay to the Cash Manager for its Cash Management Services hereunder an annual cash management fee of {pound-sterling}100,000 for its services which will be paid quarterly. (b) Unless and until otherwise agreed by Funding, the Mortgages Trustee and the Security Trustee in writing (notified to the Cash Manager), Funding and the Mortgages Trustee shall be jointly and severally responsible for paying the cash management fee to the Cash Manager which is referred to in paragraph (a) above.
Appears in 3 contracts
Samples: Cash Management Agreement (Granite Mortgages 03-2 PLC), Cash Management Agreement (Granite Mortgages 03-1 PLC), Cash Management Agreement (Granite Mortgages 02-1 PLC)
Fee payable. (a) Subject to paragraph (b) below, Funding and the Mortgages Trustee, proportionately in accordance with and subject to the applicable Funding Priority of Payments set out in the Funding Deed of Charge and the applicable Priority of Payments for the Mortgages Trustee under the Mortgages Trust Deed, as the case may be, shall pay to the Cash Manager for its Cash Management Services hereunder an annual cash management fee of {pound-sterling}100,000 (pound)100,000 for its services which will be paid quarterly.
(b) Unless and until otherwise agreed by Funding, the Mortgages Trustee and the Security Trustee in writing (notified to the Cash Manager), Funding and the Mortgages Trustee shall be jointly and severally responsible for paying the cash management fee to the Cash Manager which is referred to in paragraph (a) above.
Appears in 1 contract
Samples: Cash Management Agreement (Granite Mortgages 02-2 PLC)