Common use of Issuer Revenue Ledger Clause in Contracts

Issuer Revenue Ledger. The Issuer Cash Manager shall ensure that: (a) the following amounts shall be credited to the Issuer Revenue Ledger: (i) all interest, fees and any other amount (not including principal), if any, paid by Funding 1 to the Issuer under the terms of the Intercompany Loan Agreement; (ii) all interest received by the Issuer in respect of the Issuer Accounts; (iii) all amounts received by the Issuer representing income on any Authorised Investments; (iv) all revenue amounts (including any early termination payment which is to be used to acquire, if necessary, a new currency and/or interest rate swap) received by the Issuer under the Issuer Swap Agreements (other than, in the case of Issuer Swap Agreements relating to any Series and Class of Notes issued on or after the 2012-1 Closing Date only, the 'cash benefit' (as described in the relevant Issuer Swap Agreement) relating to any Tax Credit (as defined in the relevant Issuer Swap Agreement) obtained by the Issuer relating to any Gross-up Amount (as defined in the relevant Issuer Swap Agreement) paid by the Issuer Swap Provider under the terms of the relevant Issuer Swap Agreement); (b) any payment or provision made under paragraph 3 of this Schedule 2 shall be debited to the Issuer Revenue Ledger and the applicable sub-ledger; and (c) the amounts received from Funding 1 in respect of interest due on a Loan Tranche shall be credited to a sub-ledger (in respect of the Series and Class of Notes that funded such Loan Tranche) to the Issuer Revenue Ledger and payments of interest in respect of such Series and Class of Notes by the Issuer shall be debited to such sub-ledger. The Issuer Cash Manager shall ensure that, prior to service of a Note Acceleration Notice and enforcement of the Issuer Security, on each Interest Payment Date, the amounts standing to the credit of any sub-ledger of the Issuer Revenue Ledger (in respect of a Series and Class of Notes) may only be applied by the Issuer Cash Manager to pay the interest and other amounts due in respect of such Series and Class of Notes under the Issuer Pre-Acceleration Revenue Priority of Payments on such Interest Payment Date provided that to the extent that on any Interest Payment Date, amounts standing to the credit of the Issuer Revenue Ledger (excluding amounts standing to the credit of the sub-ledgers for each Series and Class of Notes) are insufficient to pay items (a) to (c) of the Issuer Pre-Acceleration Revenue Priority of Payments, then the Issuer Cash Manager will, in no order of priority among them but in proportion to the amount required, apply amounts standing to the credit of the sub-ledgers of the Issuer Revenue Ledger in respect of the Class Z Notes of each Series on such date to meet such shortfall (until the balance of such sub-ledgers is zero), then amounts standing to the credit of the sub-ledgers of the Issuer Revenue Ledger in respect of the Class D Notes of each Series on such date to meet such shortfall (until the balance of such sub- ledgers is zero), then amounts standing to the credit of the sub-ledgers of the Issuer Revenue Ledger in respect of the Class C Notes of each Series on such date to meet such shortfall (until the balance of such sub-ledgers is zero), then amounts standing to the credit of the sub-ledgers of the Issuer Revenue Ledger in respect of the Class M Notes of each Series on such date to meet such shortfall (until the balance of such sub-ledgers is zero), then amounts standing to the credit of the sub-ledgers of the Issuer Revenue Ledger in respect of the Class B Notes of each Series on such date to meet such shortfall (until the balance of such sub-ledgers is zero) and then amounts standing to the credit of the sub-ledgers of the Issuer Revenue Ledger in respect of the Class A Notes of each Series on such date to meet such shortfall (until the balance of such sub-ledgers is zero).

Issuer Revenue Ledger. 5.1 The Issuer Cash Manager shall record the following amounts as a credit to the Issuer Revenue Ledger: (a) interest, fees and any other amount (other than Principal Receipts allocated to the Issuer) (if any) received by the Issuer in respect of the Issuer Share of the Trust Property in accordance with the Mortgages Trustee Revenue Priority of Payments; (b) amounts received by the Issuer under the Basis Rate Swap Agreements from (but excluding) the immediately preceding Payment Date to (and including) the relevant Payment Date (other than any early termination payment received by the Issuer or Swap Collateral posted to an Issuer Swap Collateral Account); (c) amounts received (if any) by the Issuer under the Currency Swap Agreement from (but excluding) the immediately preceding Payment Date to (and including) the relevant Payment Date (other than (i) any amounts received by the Principal Paying Agent on behalf of the Issuer in respect of interest payable under the Notes, (ii) any Swap Collateral posted to an Issuer Swap Collateral Account and (iii) any early termination payment received by the Issuer following); (d) interest payable on the Issuer Transaction Accounts and VM Issuer Account which in either case has been or will be received on or before the relevant Payment Date; (e) all amounts received by the Issuer representing income on any Permitted Investments; (f) all amounts standing to the credit of the Liquidity Reserve Fund (except that such amounts shall not be used to pay item (viii) in the Issuer Pre- Acceleration Revenue Priority of Payments); and (g) (only to the extent required after making the calculation set out below) the amount of Issuer Available Principal Receipts (if any) which are to be applied on the relevant Payment Date to make up a Revenue Shortfall. 5.2 Each payment or provision made under the Issuer Pre-Acceleration Revenue Priority of Payments shall be debited to the Issuer Revenue Ledger. 5.3 The Issuer Cash Manager shall ensure that: (a) any Issuer Revenue Receipts Reduction is applied to the following amounts shall be credited Issuer Revenue Receipts Reduction Ledger and recorded as a debit to the Issuer Revenue Ledger: (i) all interest, fees and any other amount (not including principal), if any, paid by Funding 1 to the Issuer under the terms of the Intercompany Loan Agreement; (ii) all interest received by the Issuer in respect of the Issuer Accounts; (iii) all amounts received by the Issuer representing income on any Authorised Investments; (iv) all revenue amounts (including any early termination payment which is to be used to acquire, if necessary, a new currency and/or interest rate swap) received by the Issuer under the Issuer Swap Agreements (other than, in the case of Issuer Swap Agreements relating to any Series and Class of Notes issued on or after the 2012-1 Closing Date only, the 'cash benefit' (as described in the relevant Issuer Swap Agreement) relating to any Tax Credit (as defined in the relevant Issuer Swap Agreement) obtained by the Issuer relating to any Gross-up Amount (as defined in the relevant Issuer Swap Agreement) paid by the Issuer Swap Provider under the terms of the relevant Issuer Swap Agreement);; and (b) any payment or provision made under paragraph 3 of this Schedule 2 shall be debited recovered Issuer Revenue Receipts Reduction is recorded as a credit to the Issuer Revenue Ledger and the applicable sub-ledger; and (c) the amounts received from Funding 1 in respect of interest due on a Loan Tranche shall be credited to a sub-ledger (in respect of the Series and Class of Notes that funded such Loan Tranche) to the Issuer Revenue Ledger and payments of interest in respect of such Series and Class of Notes by the Issuer shall be debited to such sub-ledger. The Issuer Cash Manager shall ensure that, prior to service of a Note Acceleration Notice and enforcement of the Issuer Security, on each Interest Payment Date, the amounts standing to the credit of any sub-ledger of the Issuer Revenue Ledger (in respect of a Series and Class of Notes) may only be applied by the Issuer Cash Manager to pay the interest and other amounts due in respect of such Series and Class of Notes under the Issuer Pre-Acceleration Revenue Priority of Payments on such Interest Payment Date provided that to the extent that on any Interest Payment Date, amounts standing to the credit of the Issuer Revenue Ledger (excluding amounts standing to the credit of the sub-ledgers for each Series and Class of Notes) are insufficient to pay items (a) to (c) of the Issuer Pre-Acceleration Revenue Priority of Payments, then the Issuer Cash Manager will, in no order of priority among them but in proportion to the amount required, apply amounts standing to the credit of the sub-ledgers of the Issuer Revenue Ledger in respect of the Class Z Notes of each Series on such date to meet such shortfall (until the balance of such sub-ledgers is zero), then amounts standing to the credit of the sub-ledgers of the Issuer Revenue Ledger in respect of the Class D Notes of each Series on such date to meet such shortfall (until the balance of such sub- ledgers is zero), then amounts standing to the credit of the sub-ledgers of the Issuer Revenue Ledger in respect of the Class C Notes of each Series on such date to meet such shortfall (until the balance of such sub-ledgers is zero), then amounts standing to the credit of the sub-ledgers of the Issuer Revenue Ledger in respect of the Class M Notes of each Series on such date to meet such shortfall (until the balance of such sub-ledgers is zero), then amounts standing to the credit of the sub-ledgers of the Issuer Revenue Ledger in respect of the Class B Notes of each Series on such date to meet such shortfall (until the balance of such sub-ledgers is zero) and then amounts standing to the credit of the sub-ledgers of the Issuer Revenue Ledger in respect of the Class A Notes of each Series on such date to meet such shortfall (until the balance of such sub-ledgers is zero)Ledger.

Issuer Revenue Ledger. The Issuer Cash Manager shall ensure that: (a) the following amounts shall be credited to the Issuer Revenue Ledger: (i) all interest, interest fees and any other amount (not including principal), if any, paid by Funding 1 2 to the Master Issuer under the terms of the Global Intercompany Loan Agreement; (ii) all interest received by the Master Issuer in respect of the Issuer Bank Accounts; (iii) all amounts received by the Master Issuer representing income on any Issuer Authorised Investments; (iv) all revenue amounts (including any early termination payment which is to be used to acquire, if necessary, a new currency and/or interest rate swap) received by the Master Issuer under the Issuer Swap Agreements (other than, in the case of Issuer Swap Agreements relating to any Series and Class of Notes issued on or after the 2012-1 Closing Date only, the 'cash benefit' (as described in the relevant Issuer Swap Agreement) relating to any Tax Credit (as defined in the relevant Issuer Swap Agreement) obtained by the Issuer relating to any Gross-up Amount (as defined in the relevant Issuer Swap Agreement) paid by the Issuer Swap Provider under the terms of the relevant Issuer Swap Agreement)Agreements; (b) any payment or provision made under paragraph 3 of this Schedule 2 shall be debited to the Issuer Revenue Ledger and the applicable sub-ledger; and; (c) the amounts received from Funding 1 2 in respect of items (B), (S), (U) and (V) of the Funding 2 Pre-Enforcement Revenue Priority of Payments shall be credited to the Issuer Expense Sub-Ledger; and (d) the amounts received from Funding 2 in respect of interest due on a Loan Tranche shall be credited to a sub-ledger (in respect of the Series and Class of Issuer Notes that funded such Loan Tranche) to the Issuer Revenue Ledger and payments of interest in respect of such Series and Class of Issuer Notes by the Master Issuer shall be debited to such sub-ledger. The Issuer Cash Manager shall ensure that, prior to service of a Note Acceleration Notice and the enforcement of the Issuer Security, on each Interest Monthly Payment Date, the amounts standing to the credit of any sub-ledger of the Issuer Revenue Ledger (in respect of a Series and Class of Issuer Notes) may only be applied by the Issuer Cash Manager to pay the interest and other amounts due in respect of such Series and Class of Issuer Notes under the Issuer Pre-Acceleration Enforcement Revenue Priority of Payments on such Interest Payment Date provided that that: (A) to the extent that on any Interest Monthly Payment Date, amounts standing to the credit of the Issuer Revenue Ledger (excluding amounts standing to the credit of the sub-ledgers for each Series and Class of Issuer Notes) and the Issuer Reserve Ledger are insufficient to pay items (aA) to (cD) of the Issuer Pre-Acceleration Enforcement Revenue Priority of Payments, then the Issuer Cash Manager will, in no order of priority among them but in proportion to the amount required, apply amounts standing to the credit of the sub-ledgers of the Issuer Revenue Ledger in respect of the Class Z D Notes of each Series on such date to meet such shortfall (until the balance of such sub-ledgers is zero), then amounts standing to the credit of the sub-ledgers of the Issuer Revenue Ledger in respect of the Class D Notes of each Series on such date to meet such shortfall (until the balance of such sub- ledgers is zero), then amounts standing to the credit of the sub-ledgers of the Issuer Revenue Ledger in respect of the Class C Notes of each Series on such date to meet such shortfall (until the balance of such sub-ledgers is zero), then amounts standing to the credit of the sub-ledgers of the Issuer Revenue Ledger in respect of the Class M Notes of each Series on such date to meet such shortfall (until the balance of such sub-ledgers is zero), then amounts standing to the credit of the sub-ledgers of the Issuer Revenue Ledger in respect of the Class B Notes of each Series on such date to meet such shortfall (until the balance of such sub-ledgers is zero) and then amounts standing to the credit of the sub-ledgers of the Issuer Revenue Ledger in respect of the Class A Notes of each Series on such date to meet such shortfall (until the balance of such sub-ledgers is zero); and (B) where, on a Note Payment Date for a Series and Class of Issuer Notes, an amount standing to the credit of the Issuer Reserve Ledger is applied to pay interest and other amounts due in respect of such Issuer Notes under the Issuer Pre-Enforcement Revenue Priority of Payments, then to the extent that, on following Note Payment Dates in respect of such Issuer Notes (and following payment of interest and other amounts due in respect of such Issuer Notes), there remains an amount credited to the sub-ledger to the Issuer Revenue Ledger in respect of such Issuer Notes, the Issuer Cash Manager will apply such amount towards the replenishment of the Issuer Reserve Fund in accordance with item (K) of the Issuer Pre-Enforcement Revenue Priority of Payments.

Issuer Revenue Ledger. The Issuer Cash Manager shall ensure that: (a) the following amounts shall be credited to the Issuer Revenue Ledger: (i) all interest, interest fees and any other amount (not including principal), if any, paid by Funding 1 2 to the Issuer under the terms of the [Master] Intercompany Loan Agreement; (ii) all interest received by the Issuer in respect of the Issuer Accounts; (iii) all amounts received by the Issuer representing income on any Issuer Authorised Investments; (iv) all revenue amounts (including any early termination payment which is to be used to acquire, if necessary, a new currency and/or or interest rate swap) received by the Issuer under the Issuer Swap Agreements (other than, in the case of Issuer Swap Agreements relating to any Series and Class of Notes issued on or after the 2012-1 Closing Date only, the 'cash benefit' (as described in the relevant Issuer Swap Agreement) relating to any Tax Credit (as defined in the relevant Issuer Swap Agreement) obtained by the Issuer relating to any Gross-up Amount (as defined in the relevant Issuer Swap Agreement) paid by the Issuer Swap Provider under the terms of the relevant Issuer Swap Agreement)Agreements; (b) any payment or provision made under paragraph 3 of this Schedule 2 shall be debited to the Issuer Revenue Ledger and the applicable sub-ledger; and (c) the amounts received from Funding 1 2 in respect of interest due on a Loan Tranche shall be credited to a sub-ledger (in respect of the Series and Class of Notes that funded such Loan Tranche) to the Issuer Revenue Ledger and payments of interest in respect of such Series and Class of Notes by the Issuer shall be debited to such sub-ledger. The Issuer Cash Manager shall ensure that, prior to service of a Note Acceleration Notice and the enforcement of the Issuer Security, on each Interest Payment Date, the amounts standing to the credit of any sub-ledger of the Issuer Revenue Ledger (in respect of a Series and Class of Notes) may only be applied by the Issuer Cash Manager to pay the interest and other amounts due in respect of such Series and Class of Notes under the Issuer Pre-Acceleration Enforcement Revenue Priority of Payments on such Interest Payment Date provided that to the extent that on any Interest Payment Date, amounts standing to the credit of the Issuer Revenue Ledger (excluding amounts standing to the credit of the sub-ledgers for each Series and Class of Notes) and the Issuer Reserve Ledger are insufficient to pay items (a) to (c) of the Issuer Pre-Acceleration Enforcement Revenue Priority of Payments, then the Issuer Cash Manager will, in no order of priority among them but in proportion to the amount required, apply amounts standing to the credit of the sub-ledgers of the Issuer Revenue Ledger in respect of the Class Z D Notes of each Series on such date to meet such shortfall (until the balance of such sub-ledgers is zero), then amounts standing to the credit of the sub-ledgers of the Issuer Revenue Ledger in respect of the Class D C Notes of each Series on such date to meet such shortfall (until the balance of such sub- ledgers is zero), then amounts standing to the credit of the sub-ledgers of the Issuer Revenue Ledger in respect of the Class C Notes of each Series on such date to meet such shortfall (until the balance of such sub-ledgers sub?ledgers is zero), then amounts standing to the credit of the sub-ledgers of the Issuer Revenue Ledger in respect of the Class M Notes of each Series on such date to meet such shortfall (until the balance of such sub-ledgers is zero), then amounts standing to the credit of the sub-ledgers of the Issuer Revenue Ledger in respect of the Class B Notes of each Series on such date to meet such shortfall (until the balance of such sub-ledgers is zero) and then amounts standing to the credit of the sub-ledgers of the Issuer Revenue Ledger in respect of the Class A Notes of each Series on such date to meet such shortfall (until the balance of such sub-ledgers is zero).