Common use of Issuers Undertaking and Covenant to Pay Clause in Contracts

Issuers Undertaking and Covenant to Pay. 4.1 The Issuer undertakes to the Note Trustee (for its own account and as trustee for the other Series 2006-2 Secured Creditors) that it shall duly, unconditionally and punctually pay and discharge to each of the Series 2006-2 Secured Creditors when due all monies and liabilities whatsoever constituting the Series 2006-2 Secured Obligations. 4.2 The Note Trustee shall hold the benefit of the covenant in Clause 3.1 (Covenant to Pay) and the other covenants of the Issuer set out in the Note Trust Deed as incorporated herein on trust for itself and the holders of the Series 2006-2 Notes according to their respective interests.

Issuers Undertaking and Covenant to Pay. 4.1 The Issuer undertakes to the Note Trustee (for its own account and as trustee for the other Series 20062007-2 1 Secured Creditors) that it shall duly, unconditionally and punctually pay and discharge to each of the Series 20062007-2 1 Secured Creditors when due all monies and liabilities whatsoever constituting the Series 20062007-2 1 Secured Obligations. 4.2 The Note Trustee shall hold the benefit of the covenant in Clause 3.1 (Covenant to Pay) and the other covenants of the Issuer set out in the Note Trust Deed as incorporated herein on trust for itself and the holders of the Series 20062007-2 1 Notes according to their respective interests.