POWER OF INVESTMENT. If the amount of the monies at any time available for the payment of principal and interest in respect of the Notes under Clause 8 shall be less than 10 per cent. of the aggregate Principal Amount Outstanding of the Notes the Note Trustee may at its discretion invest such monies in some or one of the investments hereinafter authorised and such investments with the resulting income therefrom may be accumulated until the accumulations together with any other funds for the time being under the control of the Note Trustee and available for such purpose shall amount to a sum being not less than 10 per cent. of the aggregate Principal Amount Outstanding of the Notes and then such accumulations and funds shall be applied in the manner provided in Clause 8.
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Samples: Gracechurch Receivables Trustee LTD, Barclaycard Funding PLC, Gracechurch Card Funding No 3 PLC
POWER OF INVESTMENT. If the amount of the monies moneys at any time available for the payment of principal and interest in respect of the Notes under Clause 8 shall be less than 10 [10] per cent. of the aggregate Principal Amount Outstanding of the Notes the Note Trustee may at its discretion invest such monies moneys in some or one of the investments hereinafter authorised and such investments with the resulting income therefrom may be accumulated until the accumulations together with any other funds for the time being under the control of the Note Trustee and available for such purpose shall amount to a sum being not less than 10 [10] per cent. of the aggregate Principal Amount Outstanding of the Notes and then such accumulations and funds shall be applied in the manner provided in Clause 8.
Appears in 1 contract
Samples: Gracechurch Receivables Trustee LTD
POWER OF INVESTMENT. If the amount of the monies moneys at any time available for the payment of principal and interest in respect of the Notes under Clause 8 shall be less than 10 per cent. of the aggregate Principal Amount Outstanding of the Notes the Note Trustee may at its discretion invest such monies moneys in some or one of the investments hereinafter authorised and such investments with the resulting income therefrom may be accumulated until the accumulations together with any other funds for the time being under the control of the Note Trustee and available for such purpose shall amount to a sum being not less than 10 per cent. of the aggregate Principal Amount Outstanding of the Notes and then such accumulations and funds shall be applied in the manner provided in Clause 8.
Appears in 1 contract
Samples: Gracechurch Card Funding No 2 PLC
POWER OF INVESTMENT. If the amount of the monies at any time available for the payment of principal and interest in respect of the Notes under Clause 8 shall be less than 10 per cent. of the aggregate Principal Amount Outstanding of the Notes the Note Trustee may at its discretion invest such monies in some or one of the investments hereinafter authorised and such investments with the resulting income therefrom may be accumulated until the accumulations together with any other funds for the time being under the control of the Note Trustee and available for such purpose shall amount to a sum being not less than 10 per 10per cent. of the aggregate Principal Amount Outstanding of the Notes and then such accumulations and funds shall be applied in the manner provided in Clause 8.
Appears in 1 contract
Samples: Barclaycard Funding PLC