Common use of General direction Clause in Contracts

General direction. (a) A Warehouse Trust Direction under clause 11.1 may take the form of a general direction that specifies one or more Trusts from which Receivables and Receivable Securities may be acquired by the Trustee in its capacity as trustee of the relevant Warehouse Trust from time to time without the need for a further Warehouse Trust Direction under clause 11.1. (b) Without limiting paragraph (a), a general direction referred to in that paragraph can provide that the Manager may draw an amount under the relevant Warehouse Facility Agreement on behalf of and without prior notice to the Trustee, on satisfaction of any relevant procedures specified in the Warehouse Trust Direction. Those procedures shall include: (i) notice to be given to the Trustee within a specified period after that drawing; and (ii) requirements as to whom the proceeds of that drawing will be paid.