Gross Underwriting Proceeds. The Master Issuer undertakes that on the Closing Date it will apply the gross underwriting proceeds for the Notes forthwith in making the relevant Loan Tranches to Funding 2 pursuant to the terms of the Global Intercompany Loan Agreement. Funding 2 undertakes that it will apply the proceeds of such Loan Tranches in accordance with Clause 4.1 (Purpose and application of a Loan Tranche) of the Global Intercompany Loan Agreement.
Appears in 5 contracts
Samples: Underwriting Agreement (Granite Finance Trustees LTD), Underwriting Agreement (Granite Finance Trustees LTD), Underwriting Agreement (Granite Finance Funding 2 LTD)
