Common use of INITIAL SELLER SHARE Clause in Contracts

INITIAL SELLER SHARE. The "Initial Seller Share" of the Trust Property shall be the sum which remains of the Trust Property after deduction of the Initial Funding Share. The Initial Seller Share of the Trust Property will be {pound-sterling}13.39 at the date of this Deed and {pound-sterling}232,000,000 at the Initial Closing Date and the "INITIAL SELLER SHARE PERCENTAGE" shall be equal to 100 per cent. minus the Initial Funding Share Percentage, that is to say, 13.39 per cent. The amount of the Initial Seller Share and the Initial Seller Share Percentage on the Initial Closing will be determined immediately after the Initial Closing Date. References herein to the "SELLER SHARE" shall mean, prior to the first Distribution Date, the Initial Seller Share and thereafter shall mean the Current Seller Share (as defined below).

Appears in 4 contracts

Samples: Mortgages Trust Deed (Granite Mortgages 02-1 PLC), Mortgages Trust Deed (Granite Mortgages 03-3 PLC), Mortgages Trust Deed (Granite Mortgages 02-2 PLC)

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INITIAL SELLER SHARE. The "Initial Seller Share" of the Trust Property shall be the sum which remains of the Trust Property after deduction of the Initial Funding Share. The Initial Seller Share of the Trust Property will be {pound-sterling}13.39 (pound)13.39 at the date of this Deed and {pound-sterling}232,000,000 (pound)232,000,000 at the Initial Closing Date and the "INITIAL SELLER SHARE PERCENTAGE" shall be equal to 100 per cent. minus the Initial Funding Share Percentage, that is to say, 13.39 per cent. The amount of the Initial Seller Share and the Initial Seller Share Percentage on the Initial Closing will be determined immediately after the Initial Closing Date. References herein to the "SELLER SHARE" shall mean, prior to the first Distribution Date, the Initial Seller Share and thereafter shall mean the Current Seller Share (as defined below).

Appears in 1 contract

Samples: Mortgages Trust Deed (Granite Mortgages 02-2 PLC)

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INITIAL SELLER SHARE. The "Initial Seller Share" of the Trust Property shall be the sum which remains of the Trust Property after deduction of the Initial Funding Share. The Initial Seller Share of the Trust Property will be {pound-sterling}13.39 (pound)13.39 at the date of this Deed and {pound-sterling}232,000,000 (pound)232,000,000 at the tHE Initial Closing Date and the "INITIAL SELLER SHARE PERCENTAGE" shall be equal to 100 per cent. minus the Initial Funding Share Percentage, that is to say, 13.39 per cent. The amount of the Initial Seller Share and the Initial Seller Share Percentage on the Initial Closing will be determined immediately after the Initial Closing Date. References herein to the "SELLER SHARE" shall mean, prior to the first Distribution Date, the Initial Seller Share and thereafter shall mean the Current Seller Share (as defined below).

Appears in 1 contract

Samples: Mortgages Trust Deed (Granite Mortgages 02-1 PLC)

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