No Negative Balance. Notwithstanding the provisions of Clause 2.1, amounts shall only be withdrawn from the Funding Transaction Account, the Funding GIC Account or the Mortgages Trustee GIC Account (as appropriate) to the extent that such withdrawal does not cause the Funding Transaction Account, the Funding GIC Account or the Mortgages Trustee GIC Account (as appropriate), to have a negative balance. Amounts shall only be credited to the Funding Transaction Account to the extent that Account Bank A has received cleared funds in respect of such credit.
Appears in 3 contracts
Samples: Bank Account Agreement, Bank Account Agreement, Bank Account Agreement
No Negative Balance. Notwithstanding the provisions of Clause 2.12.1 (Instructions from the Cash Manager) and Clause 2.3 (Account Bank Charges), amounts shall only be withdrawn from the Funding Transaction Account, the Funding (Current Issuer) GIC Account or the Mortgages Trustee GIC Account (as appropriate) to the extent that such withdrawal does not cause the Funding Transaction Account, the Funding (Current Issuer) GIC Account or the Mortgages Trustee GIC Account (as appropriate), to have a negative balance. Amounts shall only be credited to the Funding Transaction Account to the extent that Account Bank A has received cleared funds in respect of such credit.
Appears in 3 contracts
Samples: Bank Account Agreement (Granite Mortgages 03-2 PLC), Bank Account Agreement (Granite Mortgages 02-2 PLC), Bank Account Agreement (Granite Mortgages 03-1 PLC)
No Negative Balance. Notwithstanding the provisions of Clause 2.1, amounts shall only be withdrawn from the Funding Transaction Account, the Funding GIC Account or the Mortgages Trustee GIC Account (as appropriate) to the extent that such withdrawal does not cause the Funding Transaction Account, the Funding GIC Account or the Mortgages Trustee GIC Account (Account, as appropriate), to have a negative balance. Amounts shall only be credited to the Funding Transaction Account to the extent that Account Bank A has received cleared funds in respect of such credit.
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