PROCEEDS HELD ON TRUST. Each Paying Agent shall hold in trust for the benefit of Noteholders or the Note Trustee all money held by such Paying Agent for the payment of principal or interest on the Notes.
Appears in 6 contracts
Samples: Paying Agency and Agent Bank Agreement (Barclaycard Funding PLC), Paying Agency and Agent Bank Agreement (Barclaycard Funding PLC), Paying Agency and Agent Bank Agreement (Gracechurch Receivables Trustee LTD)
PROCEEDS HELD ON TRUST. Each Paying Agent shall hold in trust for the benefit of the relevant Noteholders or the Note Trustee all money held by such Paying Agent for the payment of principal or interest on any of the Notes.
Appears in 1 contract
Samples: Agency Agreement (Arran Funding LTD)
PROCEEDS HELD ON TRUST. Each Paying Agent shall hold in trust for the benefit of Noteholders or the Note Trustee all money held by such Paying Agent for the payment of principal or interest on the NotesSecurities.
Appears in 1 contract
Samples: Paying Agency and Agent Bank Agreement (Gracechurch Receivables Trustee LTD)
PROCEEDS HELD ON TRUST. Each Paying Agent shall hold in on trust for the benefit of the relevant Noteholders or the Note Trustee all money monies held by such Paying Agent for the payment of principal or interest on any of the Notes.
Appears in 1 contract
Samples: Agency Agreement (Turquoise Receivables Trustee LTD)
