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).
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Samples: Granite Mortgages 02-1 PLC, Granite Mortgages 03-2 PLC, Granite Mortgages 02-2 PLC
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: Granite Mortgages 02-2 PLC
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: Granite Mortgages 02-1 PLC