Common use of Management and Application of Funds Clause in Contracts

Management and Application of Funds. The Guarantor will take or cause to be taken such action as may from time to time be necessary on its part to ensure that all amounts received by the Guarantor and falling within any of the following categories shall from time to time either (i) be credited to the GDA Account (and/or as applicable, the Standby GDA Account), or (ii) be applied directly in accordance with the applicable Priorities of Payments: (a) all Revenue Receipts and all Principal Receipts; (b) amounts received by the Guarantor pursuant to the Interest Rate Swap Agreement; (c) Excess Proceeds received from the Bond Trustee pursuant to the Trust Deed; (d) any other amount whatsoever received by or on behalf of the Guarantor after the Program Date (including, without limitation, the proceeds of any Advances made to the Guarantor where such funds have not been applied to acquire Additional Loans and their Related Security pursuant to the Mortgage Sale Agreement, to make Additional Loan Advances or invest in Substitute Assets), but excluding any Tax Credits, Swap Collateral Excluded Amounts and Third Party Amounts; (e) the proceeds arising from the disposal of any Substitute Assets and any and all income or other distributions received by the Guarantor in respect thereof or arising from the proceeds of any Substitute Assets; and (f) such other payments received by the Guarantor as are, or ought in accordance with this Agreement to be, comprised in the Charged Property, including the proceeds from the sales of Loans and their Related Security by the Guarantor.

Management and Application of Funds. ‌ The Guarantor will LP shall take or cause to be taken such action as may from time to time be necessary on its part to ensure that the GIC Account (and/or, as applicable, the Standby GIC Account) shall from time to time be credited with all amounts received by the Guarantor LP and falling within any of the following categories shall from time to time either (i) be credited to the GDA Account (and/or as applicable, the Standby GDA Account), or (ii) be applied directly in accordance with the applicable Priorities of Paymentscategories: (a) all Revenue Receipts and all Principal Receipts; (b) all Cash Capital Contributions; (c) amounts received by the Guarantor LP pursuant to the Interest Rate Swap Agreement; (cd) Excess Proceeds received from the Bond Trustee pursuant to the Trust Deed; (de) any other amount whatsoever received by or on behalf of the Guarantor LP after the Program Programme Date (including, without limitation, the any proceeds of any Advances made advanced to the Guarantor LP under the Intercompany Loan Agreement where such funds proceeds have not been applied to acquire Additional Loans and their Related Security pursuant to the Mortgage Sale AgreementSecurity, to make Additional refinance an existing Advance under the Intercompany Loan Advances Agreement or invest in Substitute Assets), but excluding any Tax Credits, Swap Collateral Excluded Amounts and Third Party Amounts; (ef) the proceeds arising from the disposal of any Substitute Assets and any and all income or other distributions received by the Guarantor LP in respect thereof or arising from the proceeds of any Substitute Assets; and (fg) such other payments received by the Guarantor LP as are, or ought in accordance with this Agreement to be, comprised in the Charged PropertyCollateral. For greater certainty, the Guarantor LP may apply, or cause to be applied on its behalf, such amounts in accordance with the terms of the transaction documents including the proceeds from applicable Priorities of Payment, without first being deposited into the sales of Loans and their Related Security by the GuarantorGIC Account.

Management and Application of Funds. The Guarantor will LP shall take or cause to be taken such action as may from time to time be necessary on its part to ensure that the GIC Account (and/or, as applicable, the Standby GIC Account) shall from time to time be credited with all amounts received by the Guarantor LP and falling within any of the following categories shall from time to time either (i) be credited to the GDA Account (and/or as applicable, the Standby GDA Account), or (ii) be applied directly in accordance with the applicable Priorities of Paymentscategories: (a) all Revenue Receipts and all Principal Receipts; (b) all Cash Capital Contributions; (c) amounts received by the Guarantor LP pursuant to the Interest Rate Swap Agreement; (cd) Excess Proceeds received from the Bond Trustee pursuant to the Trust Deed; (de) any other amount whatsoever received by or on behalf of the Guarantor LP after the Program Programme Date (including, without limitation, the any proceeds of any Advances made advanced to the Guarantor LP under the Intercompany Loan Agreement where such funds proceeds have not been applied to acquire Additional Loans and their Related Security pursuant to the Mortgage Sale AgreementSecurity, to make Additional refinance an existing Advance under the Intercompany Loan Advances Agreement or invest in Substitute Assets), but excluding any Tax Credits, Swap Collateral Excluded Amounts and Third Party Amounts; (ef) the proceeds arising from the disposal of any Substitute Assets and any and all income or other distributions received by the Guarantor LP in respect thereof or arising from the proceeds of any Substitute Assets; and (fg) such other payments received by the Guarantor LP as are, or ought in accordance with this Agreement to be, comprised in the Charged PropertyCollateral. For greater certainty, the Guarantor LP may apply, or cause to be applied on its behalf, such amounts in accordance with the terms of the transaction documents including the proceeds from applicable Priorities of Payment, without first being deposited into the sales of Loans and their Related Security by the GuarantorGIC Account.

Management and Application of Funds. The Guarantor will Third Issuer shall take or cause to be taken such action as may from time to time be necessary on its part to ensure that the Third Issuer Accounts shall from time to time be credited with all amounts received by the Guarantor Third Issuer and falling within any of the following categories shall from time to time either (i) be credited to the GDA Account (and/or as applicable, the Standby GDA Account), or (ii) be applied directly in accordance with the applicable Priorities of Paymentscategories: (a) all Revenue Receipts and all Principal Receiptsamounts received by the Third Issuer from or on behalf of Funding 1 pursuant to the provisions of the Third Issuer Intercompany Loan Agreement; (b) interest received on the Third Issuer Accounts; (c) amounts received by the Guarantor pursuant to Third Issuer from the Dollar Currency Swap Providers under the Dollar Currency Swap Agreements; (d) amounts received by the Third Issuer from the Euro Currency Swap Providers under the Euro Currency Swap Agreements; (e) amounts received by the Third Issuer from the Interest Rate Swap Providers under the Interest Rate Swap Agreement; (c) Excess Proceeds received from the Bond Trustee pursuant to the Trust Deed; (d) any other amount whatsoever received by or on behalf of the Guarantor after the Program Date (including, without limitation, the proceeds of any Advances made to the Guarantor where such funds have not been applied to acquire Additional Loans and their Related Security pursuant to the Mortgage Sale Agreement, to make Additional Loan Advances or invest in Substitute Assets), but excluding any Tax Credits, Swap Collateral Excluded Amounts and Third Party Amounts; (ef) the proceeds arising from the disposal of any Substitute Assets Authorised Investments and any and all income or other distributions received by the Guarantor Third Issuer in respect thereof or arising from the proceeds of any Substitute AssetsAuthorised Investments; (g) amounts received by the Third Issuer from the Security Trustee in its capacity as security trustee under the Funding 1 Deed of Charge or a Receiver following the service of a Third Issuer Intercompany Loan Enforcement Notice; and (fh) such other payments received by the Guarantor Third Issuer as are, or ought in accordance with this Agreement Deed to be, comprised in the Third Issuer Charged Property, including the proceeds from the sales of Loans and their Related Security by the Guarantor.

Management and Application of Funds. The Guarantor will shall take or cause to be taken such action as may from time to time be necessary on its part to ensure that all amounts received by the Guarantor and falling within any of the following categories shall from time to time either (i) be credited to the GDA GIC Account (and/or and/or, as applicable, the Standby GDA GIC Account), or (ii) be applied directly in accordance with the applicable Priorities of Payments: (a) all Revenue Receipts and all Principal Receipts; (b) all Cash Capital Contributions; (c) amounts received by the Guarantor pursuant to the Interest Rate Swap Agreement; (cd) Excess Proceeds received from the Bond Trustee pursuant to the Trust Deed; (de) any other amount whatsoever received by or on behalf of the Guarantor after the Program Programme Date (including, without limitation, the any proceeds of any Advances made advanced to the Guarantor under the Intercompany Loan Agreement (other than pursuant to an Issue Advance, except as stated below in respect of Party A Payment Amounts) where such funds proceeds have not been applied to acquire Additional Loans and their Related Security pursuant to the Mortgage Sale AgreementPortfolio Assets, to make Additional refinance an existing Advance under the Intercompany Loan Advances Agreement or invest in Substitute Assets), but excluding any Tax Credits, Swap Collateral Excluded Amounts and Third Party Amounts; (ef) the proceeds arising from the disposal of any Substitute Assets and any and all income or other distributions received by the Guarantor in respect thereof or arising from the proceeds of any Substitute Assets; and (fg) such other payments received by the Guarantor as are, or ought in accordance with this Agreement to be, comprised in the Charged PropertyCollateral. For greater certainty, including prior to an Issuer Event of Default or Covered Bond Guarantee Activation Event having occurred, the proceeds requirements above do not apply to Party A Payment Amounts, Party A Initial Exchange Amounts, Party A Final Exchange Amounts and any amounts received on each Issue Advance (other than such Canadian dollar denominated Issue Advances received from the sales of Loans and their Related Security Issuer in return for the Party A Payment Amounts received by the GuarantorGuarantor under a Covered Bond Swap Agreement).