Common use of NEW INTERCOMPANY LOAN AGREEMENTS Clause in Contracts

NEW INTERCOMPANY LOAN AGREEMENTS. Funding may at any time, by written notice to the Security Trustee and the Rating Agencies, enter into a New Intercompany Loan Agreement with a New Issuer and borrow additional money thereunder (each a "NEW INTERCOMPANY LOAN"). Each New Intercompany Loan will be financed by the issue of New Notes by the New Issuer, and will only be permitted if the following conditions precedent are satisfied on the Drawdown Date: (a) the New Issuer has satisfied the conditions precedent set forth in Clause 2.1 (Conditions precedent) hereof; (b) the proceeds of the New Intercompany Loan are used by Funding in accordance with Clause 3.1 (Purpose and Application of the Intercompany Loan) hereof; (c) each of the Rating Agencies confirms in writing to the Security Trustee that there will not, as a result of the New Issuer issuing any New Notes, be any adverse effect on (i) the then current ratings by the Rating Agencies of the existing Notes of any Issuer, the proceeds of which have been advanced to Funding pursuant to, inter alia, these Intercompany Loan Terms and Conditions; (d) no Intercompany Loan Event of Default under any Intercompany Loan Agreement is continuing or unwaived at the relevant drawdown date; (e) there is no debit balance on any Principal Deficiency Ledger as at the relevant date specified above; (f) Funding entering into, as required by the Rating Agencies or otherwise, any additional agreements (including any new bank account agreement and any new guaranteed investment contract agreement, if required, in relation to any New Issuer) as a result of entering into the New Intercompany Loan; and (g) any other relevant conditions precedent specified in the Intercompany Loan Confirmation.

NEW INTERCOMPANY LOAN AGREEMENTS. Funding may at any time, by written notice to the Security Trustee and the Rating Agencies, enter into a New Intercompany Loan Agreement with a New Issuer and borrow draw additional money term advances thereunder (each a "NEW INTERCOMPANY LOAN"TERM ADVANCE). Each New Intercompany Loan Term Advance will be financed by the issue of New Notes by the New Issuer, and will only be permitted if the following conditions precedent are satisfied if on the Drawdown Date: (a) the New Issuer has satisfied the conditions precedent set forth in Clause 2.1 (Conditions precedent) hereof; (b) the proceeds of the New Intercompany Loan are used by Funding in accordance with Clause 3.1 (Purpose and Application of the Intercompany Loan) hereof; (cb) each of the Rating Agencies confirms in writing to the Security Trustee that there will not, as a result of the New Issuer issuing any New NotesNotes or Funding entering into any additional agreements as a result of entering into the New Intercompany Loan, be any adverse effect on (i) the then current ratings by the Rating Agencies of the existing Notes of any Issuer, the proceeds of which have been advanced to Funding pursuant to, inter alia, these Intercompany Loan Terms and ConditionsConditions or (ii) the then current implicit ratings by the Rating Agencies of any existing Term Advances; (dc) no Intercompany Loan Event of Default under any Intercompany Loan Agreement is continuing or unwaived at the relevant drawdown date; (ed) there is no debit balance on any the Principal Deficiency Ledger not having a debit balance as at the relevant date specified above; (f) Funding entering into, as required by the Rating Agencies or otherwise, any additional agreements (including any new bank account agreement and any new guaranteed investment contract agreement, if required, in relation to any New Issuer) as a result of entering into the New Intercompany Loan; and (ge) any other relevant conditions precedent specified in the Intercompany Loan Confirmation.

NEW INTERCOMPANY LOAN AGREEMENTS. Funding may at any time, by written notice to the Security Trustee and the Rating Agencies, enter into a New Intercompany Loan Agreement with a New Issuer and borrow additional money thereunder (each a "NEW INTERCOMPANY LOANNew Intercompany Loan"). Each New Intercompany Loan will be financed by the issue of New Notes by the New Issuer, and will only be permitted if the following conditions precedent are satisfied on the Drawdown Date: (a) the New Issuer has satisfied the conditions precedent set forth in Clause 2.1 (Conditions precedent) hereof; (b) the proceeds of the New Intercompany Loan are used by Funding in accordance with Clause 3.1 (Purpose and Application of the Intercompany Loan) hereof; (c) each of the Rating Agencies confirms in writing to the Security Trustee that there will not, as a result of the New Issuer issuing any New Notes, be any adverse effect on (i) the then current ratings by the Rating Agencies of the existing Notes of any Issuer, the proceeds of which have been advanced to Funding pursuant to, inter alia, these Intercompany Loan Terms and Conditions; (d) no Intercompany Loan Event of Default under any Intercompany Loan Agreement is continuing or unwaived at the relevant drawdown date; (e) there is no debit balance on any Principal Deficiency Ledger as at the relevant date specified above; (f) Funding entering into, as required by the Rating Agencies or otherwise, any additional agreements (including any new bank account agreement and any new guaranteed investment contract agreement, if required, in relation to any New Issuer) as a result of entering into the New Intercompany Loan; and (g) any other relevant conditions precedent specified in the Intercompany Loan Confirmation.

NEW INTERCOMPANY LOAN AGREEMENTS. Funding 1 may at any time, by written notice to the Security Trustee and the Rating Agencies, enter into a New Intercompany Loan Agreement with a New Issuer and borrow draw additional money term advances thereunder (each a "NEW INTERCOMPANY LOAN"TERM ADVANCE). Each New Intercompany Loan Term Advance will be financed by the issue of New Notes by the New Issuer, and will only be permitted if the following conditions precedent are satisfied on the relevant Drawdown Date: (a) the New Issuer has satisfied the conditions precedent set forth in Clause 2.1 (Conditions precedent) hereof; (b) the proceeds of the New Intercompany Loan are used by Funding 1 in accordance with Clause 3.1 (Purpose and Application application of the Intercompany LoanTerm Advances) hereof; (cb) each of the Rating Agencies confirms in writing to the Security Trustee that there will not, as a result of the New Issuer issuing any New NotesNotes or Funding 1 entering into any additional agreements as a result of entering into the New Intercompany Loan, be any adverse effect on (i) the then current ratings by the Rating Agencies of the existing Notes of any Issuer, the proceeds of which have been advanced to Funding 1 pursuant to, inter alia, these Intercompany Loan Terms and Conditions; (dc) no Intercompany Loan Event of Default under any Intercompany Loan Agreement is continuing or unwaived at the relevant drawdown dateDrawdown Date; (ed) there is no debit balance on any the Principal Deficiency Ledger does not have a debit balance as at the relevant date specified above; (f) Funding entering into, as required by the Rating Agencies or otherwise, any additional agreements (including any new bank account agreement and any new guaranteed investment contract agreement, if required, in relation to any New Issuer) as a result of entering into the New Intercompany LoanDrawdown Date; and (ge) any other relevant conditions precedent specified in the Intercompany Loan Confirmation.

NEW INTERCOMPANY LOAN AGREEMENTS. Funding may at any time, by written notice to the Security Trustee and the Rating Agencies, enter into a New Intercompany Loan Agreement with a New Issuer and borrow draw additional money term advances thereunder (each a "NEW INTERCOMPANY LOAN"TERM ADVANCE). Each New Intercompany Loan Term Advance will be financed by the issue of New Notes by the New Issuer, and will only be permitted if the following conditions precedent are satisfied if on the Drawdown Date: (a) the New Issuer has satisfied the conditions precedent set forth in Clause 2.1 (Conditions precedent) hereof; (b) the proceeds of the New Intercompany Loan are used by Funding in accordance with Clause 3.1 (Purpose and Application of the Intercompany Loan) hereof; (cb) each of the Rating Agencies confirms in writing to the Security Trustee that there will not, as a result of the New Issuer issuing any New NotesNotes or Funding entering into any additional agreements as a result of entering into the New Intercompany Loan, be any adverse effect on (i) the then current ratings by the Rating Agencies of the existing Notes of any Issuer, the proceeds of which have been advanced to Funding pursuant to, inter alia, these Intercompany Loan Terms and ConditionsConditions or (ii) the then current implicit ratings by the Rating Agencies of any existing Term Advances; (dc) no Intercompany Loan Event of Default under any Intercompany Loan Agreement is continuing or unwaived at the relevant drawdown date; (ed) there is no debit balance on any the Principal Deficiency Ledger not having a debit balance as at the relevant date specified above;; and (fe) Funding entering into, as required by the Rating Agencies or otherwiseAgencies, any additional agreements (including any new bank account agreement and any new guaranteed investment contract agreement, if required, in relation to any New Issuer) as a result of entering into the New Intercompany LoanLoan (including any New Start-up Loan Agreement and any New Funding Swap Agreements); and (gf) any other relevant conditions precedent specified in the Intercompany Loan Confirmation.