Common use of Mandatory Further Advances Clause in Contracts

Mandatory Further Advances. 8.3.1 If a Mandatory Further Advance is to be made to a Borrower and if the Mortgage pursuant to which such Mandatory Further Advance is to be made is secured on Property which comprises registered land in England or Wales or comprises land in England or Wales which is the subject of an application for first registration each Legal Title Holder agrees to make such Mandatory Further Advance in accordance with the relevant Mortgage Conditions provided that, subject to the provisions of Clause 8.4, if at any time the Issuer has become the registered proprietor or registered owner of such Mortgage (or, in the case of unregistered land in England and Wales, if at any time the unregistered land Transfer has taken effect) the relevant Legal Title Holder will make such Mandatory Further Advance as agent for the Issuer and as the creditor (in relation to the Borrower) for the purposes of the Consumer Credit Acts 1974 and 2006.

Mandatory Further Advances. 8.3.1 If a Mandatory Further Advance is to be made to a Borrower and if the Mortgage pursuant to which such Mandatory Further Advance is to be made is secured on Property which comprises registered land in England or Wales or comprises land in England or Wales which is the subject of an application for first registration each Legal Title Holder agrees to make such Mandatory Further Advance in accordance with the relevant Mortgage Conditions provided that, subject to the provisions of Clause 8.4, if at any time the Issuer has become the registered proprietor or registered owner of such Mortgage (or, in the case of unregistered land in England and Wales, if at any time the unregistered land Transfer has taken effect) the relevant Legal Title Holder will make such Mandatory Further Advance as agent for the Issuer and as the creditor (in relation to the Borrower) for the purposes of the Consumer Credit Acts 1974 and 2006.2006.‌

Mandatory Further Advances. 8.3.1 (a) If a Mandatory Further Advance is to be made to a Borrower and if the Mortgage pursuant to which such Mandatory Further Advance is to be made is secured on Property which comprises registered land in England or Wales or comprises land in England or Wales which is the subject of an application for first registration each Legal Title Holder agrees to make such Mandatory Further Advance in accordance with the relevant Mortgage Conditions provided that, subject to the provisions of Clause 8.4, if at any time the Issuer has become the registered proprietor or registered owner of such Mortgage (or, in the case of unregistered land in England and Wales, if at any time the unregistered land Transfer has taken effect) the relevant Legal Title Holder will make such Mandatory Further Advance as agent for the Issuer and as the creditor (in relation to the Borrower) for the purposes of the Consumer Credit Acts 1974 and 2006.