NEW INTERCOMPANY LOANS. If Funding enters into a New Intercompany Loan Agreement, then the Seller, the Mortgages Trustee, Funding and the Security Trustee shall execute such documents and take such action as may be required by the Rating Agencies for the purpose of including the New Issuer in the Transaction including, without limitation:
NEW INTERCOMPANY LOANS. On each occasion that a Funding Beneficiary enters into an Intercompany Loan Agreement or is the recipient of a loan advance under an Intercompany Loan Agreement, then the Seller, the Mortgages Trustee, each Funding Beneficiary and each Funding Security Trustee shall execute such documents and take such action as may be required by the Rating Agencies for the purpose of including the applicable Issuer in the Transaction or taking account of such Intercompany Loan or loan advances and or providing for the rights and obligations of such Issuer or the relevant Funding Beneficiary, including, without limitation:
NEW INTERCOMPANY LOANS. If Funding enters into a New Intercompany Loan Agreement or if a New Issuer otherwise acquires an interest in the Trust Property, then the Seller, Funding, the Security Trustee and the Mortgages Trustee shall execute such documents and take such action as may be reasonably required by the Security Trustee and the Rating Agencies for the purpose of including the New Issuer in the Transaction including, without limitation: (a) effecting any necessary changes to Clause 4; (b) ensuring that any Transaction Document relevant to a New Issue has been executed and delivered prior to the Relevant Closing Date; and (c) executing and delivering all Assignments of MIG Policies and Assignments of Third Party Rights in relation to any New Portfolio. 21. THIRD PARTY RIGHTS A person who is not a party to this agreement may not enforce any of its terms under the Contracts (Rights of Third Parties) Xxx 0000. 22. GOVERNING LAW 22.1 This Agreement shall be governed by and construed in accordance with the laws of England (provided that any terms hereof which are particular to Scots law shall be construed in accordance with the laws of Scotland). 22.2 This Agreement may be executed (manually or by facsimile) in any number of counterparts and all such counterparts taken together shall be deemed to constitute one and the same instrument.
NEW INTERCOMPANY LOANS. If Funding intends to enter into a New Intercompany Loan Agreement, then as a condition precedent thereto the relevant New Issuer, together with other relevant creditors (as determined by the Security Trustee) including any New Funding Swap Provider and any New Start-Up Loan Provider shall accede to the terms of this Deed by executing an Accession Undertaking in the form set out in SCHEDULE 2 (Accession Undertaking) to this Deed.
