Common use of Initial Consideration Clause in Contracts

Initial Consideration. The parties hereto agree that Principal Receipts received by the Mortgages Trustee from Funding in payment of a Further Contribution in accordance with Clause 4 (Consideration) on any date on which Funding increases the Funding Share of the Trust Property shall be allocable and payable by the Mortgages Trustee to the Seller (in its capacity as a Beneficiary of the Mortgages Trust) as an Initial Consideration on such date whether or not such date is a Distribution Date. Any such Initial Consideration shall reduce the Seller Share of the Trust Property by the amount of the Initial Consideration.

Initial Consideration. The parties hereto agree that Principal Receipts received by the Mortgages Trustee from Funding in payment of a Further Contribution in accordance with Clause 4 (Consideration) on any date on which Funding increases the Funding Share of the Trust Property shall be allocable and payable by the Mortgages Mortgage Trustee to the Seller (in its capacity as a Beneficiary of the Mortgages Trust) as an a Initial Consideration on such date whether or not such date is a Distribution Date. Any such Initial Consideration shall reduce the Seller Share of the Trust Property by the amount of the Initial Consideration.