Common use of Redraws Clause in Contracts

Redraws. (a) The Approved Seller, after receiving confirmation that it may do so from the Manager, may make Redraws to Obligors under Purchased Receivables so that the then scheduled principal balance of those Purchased Receivables is not exceeded. (b) The Approved Seller will be reimbursed in relation to any Redraw for which it has not previously been reimbursed under clause 5.4. (c) On each Quarterly Determination Date the Manager shall determine an amount, not exceeding 2% of the total Invested Amount of all Notes, which it reasonably anticipates will be required in the Quarterly Collection Period in which that Quarterly Determination Date occurs to fund further Redraws under Purchased Receivables in addition to any prepayments of principal that it anticipates will be received from Obligors during that Quarterly Collection Period. That amount, from time to time, less amounts withdrawn or deposited as described in this clause 5.8, is called the REDRAW RETENTION AMOUNT. The Manager shall on the day of such determination advise the Trustee of the amount so determined. (d) In addition to the Approved Seller's right of reimbursement under clause 5.8(b), the Trustee shall on each Business Day it receives a direction from the Manager to do so, reimburse the Approved Seller for Redraws made on or before that Business Day for which it has not received reimbursement but only to the extent of the aggregate of: (i) the Redraw Retention Amount for that Quarterly Collection Period to the extent it has been funded under clause 5.4(c)(v); and (ii) any amount which the Manager is entitled to direct the Trustee to draw under the Redraw Facility Agreement at that time. (e) If the Manager determines on any Business Day that there is a Redraw Shortfall, the Manager may on that date direct in writing the Trustee to make a drawing under the Redraw Facility Agreement on that or any other Business Day equal to the amount which the Trustee is permitted to draw under clause 3.1(c) of the Redraw Facility Agreement at that time.

Redraws. Capitalised terms in this paragraph (ah) The Approved Seller, after receiving confirmation that it may do so from have the Manager, may make Redraws to Obligors under Purchased Receivables so that same meaning given in the then scheduled principal balance of those Purchased Receivables is not exceeded. (b) The Approved Seller will be reimbursed Series Notice unless otherwise defined in these Conditions. If an Obligor makes Additional Repayments in relation to any a Loan held by the Issuer then the Issuer must provide a Redraw for which it has not previously been reimbursed under clause 5.4. (c) On each Quarterly Determination Date the Manager shall determine an amount, not exceeding 2% of the total Invested Amount of all Notes, which it reasonably anticipates will be required in the Quarterly Collection Period in which that Quarterly Determination Date occurs to fund further Redraws under Purchased Receivables in addition to any prepayments of principal that it anticipates will be received from Obligors during that Quarterly Collection Period. That amount, from time to time, less amounts withdrawn or deposited as described in this clause 5.8, is called the REDRAW RETENTION AMOUNT. The Manager shall on the day of such determination advise the Trustee of the amount so determined. (d) In addition to the Approved Seller's right of reimbursement under clause 5.8(b), Obligor upon being so directed by the Trustee shall on each Business Day it receives a direction from the Trust Manager to do so, reimburse the Approved Seller for Redraws made on or before that Business Day for which it has not received reimbursement but only in its absolute discretion and subject to the extent of Trust Manager certifying to the aggregate ofIssuer that: (i) the Redraw Retention Amount for that Quarterly Collection Period to be provided to the extent it has been funded under clause 5.4(c)(v)Obligor together with any previous Redraws (if any) provided to the Obligor will not exceed the amount of any Additional Repayments previously made by that Obligor; (ii) after allowing for all payments which the Issuer is then required to make or which the Trust Manager reasonably expects that the Issuer will be required to make, there is or will be sufficient cash in the assets of the Trust (whether as a result of the issue of Redraw Notes or otherwise) for the Issuer to provide that Redraw; and (iiiii) any amount which the Loan is not in Arrears at the time of the request for the Redraw by the Obligor. The Trust Manager is entitled to may direct the Trustee Issuer to, and the Issuer must, apply certain Mortgage Principal Repayments for funding Redraws. If, on a Payment Date, Mortgage Principal Repayments for the Collection Period preceding that Payment Date are insufficient to draw under fund Redraws for that Collection Period, then the Redraw Facility Agreement at that time. (e) If the Manager determines on any Business Day that there is a Redraw Shortfall, the Trust Manager may on give the Issuer a direction to issue a series of Redraw Notes in accordance with clause 12 of the Master Trust Deed and clause 5 of the Series Notice. The Trust Manager must not give such a direction unless it has received written confirmation from each Designated Rating Agency that date direct in writing the Trustee to make a drawing under the Redraw Facility Agreement on that or any other Business Day equal to the amount which the Trustee is permitted to draw under clause 3.1(c) issue of the Redraw Facility Agreement at that timeNotes would not result in a downgrade or withdrawal of a rating of any Note then outstanding.

Redraws. (a) The Approved Seller, after receiving confirmation that it may do so from the Manager, may make Redraws to Obligors under Purchased Receivables so that the then scheduled principal balance of those Purchased Receivables is not exceeded.. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Page 36 Supplementary Terms Notice Xxxxx Xxxxx & Xxxxxxx -------------------------------------------------------------------------------- (b) The Trustee and the Manager irrevocably authorise the Approved Seller will be reimbursed to deduct from Gross Principal Collections to reimburse itself in relation to any Redraw for which it has not previously been reimbursed under this clause 5.45.5(b) or clause 5.5(d). (c) On each Quarterly Determination Date the Manager shall determine an amount, not exceeding 2% of the total Invested Amount of all Notes, which it reasonably anticipates will be required in the Quarterly Collection Period in which that Quarterly Determination Date occurs to fund further Redraws under Purchased Receivables in addition to any prepayments of principal that it anticipates will be received from Obligors during that Quarterly Collection Period. That amount, from time to time, less amounts withdrawn or deposited as described in this clause 5.85.5, is called the REDRAW RETENTION AMOUNTRedraw Retention Amount. The Manager shall on the day of such determination advise the Trustee of the amount so determined. (d) In addition to the Approved Seller's right of reimbursement under clause 5.8(b5.5(b), the Trustee shall on each Business Day it receives a direction from the Manager to do so, reimburse the Approved Seller for Redraws made on or before that Business Day for which it has not received reimbursement but only to the extent of the aggregate of: (i) the Redraw Retention Amount for that Quarterly Collection Period to the extent it has been funded under clause 5.4(c)(v5.4(c)(vi); and (ii) any amount which the Manager is entitled to direct the Trustee to draw under the Redraw Facility Agreement at that time. (e) If the Manager determines on any Business Day that there is a Redraw Shortfall, the Manager may on that date direct in writing the Trustee to make a drawing under the Redraw Facility Agreement on that or any other Business Day equal to the amount which the Trustee is permitted to draw under clause 3.1(c) of the Redraw Facility Agreement at that time.

Redraws. Capitalised terms in this paragraph (ah) The Approved Seller, after receiving confirmation that it may do so from have the Manager, may make Redraws to Obligors under Purchased Receivables so that same meaning given in the then scheduled principal balance of those Purchased Receivables is not exceeded. (b) The Approved Seller will be reimbursed Series Notice unless otherwise defined in these Conditions. If an Obligor makes Additional Repayments in relation to any a Loan held by the Issuer then the Issuer must provide a Redraw for which it has not previously been reimbursed under clause 5.4. (c) On each Quarterly Determination Date the Manager shall determine an amount, not exceeding 2% of the total Invested Amount of all Notes, which it reasonably anticipates will be required in the Quarterly Collection Period in which that Quarterly Determination Date occurs to fund further Redraws under Purchased Receivables in addition to any prepayments of principal that it anticipates will be received from Obligors during that Quarterly Collection Period. That amount, from time to time, less amounts withdrawn or deposited as described in this clause 5.8, is called the REDRAW RETENTION AMOUNT. The Manager shall on the day of such determination advise the Trustee of the amount so determined. (d) In addition to the Approved Seller's right of reimbursement under clause 5.8(b), Obligor upon being so directed by the Trustee shall on each Business Day it receives a direction from the Trust Manager to do so, reimburse the Approved Seller for Redraws made on or before that Business Day for which it has not received reimbursement but only in its absolute discretion and subject to the extent of Trust Manager certifying to the aggregate of:Issuer that: -------------------------------------------------------------------------------- Page 80 Note Trust Xxxx Xxxxxx Xxxxxx Xxxxxxxx -------------------------------------------------------------------------------- (i) the Redraw Retention Amount for that Quarterly Collection Period to be provided to the extent it has been funded under clause 5.4(c)(v)Obligor together with any previous Redraws (if any) provided to the Obligor will not exceed the amount of any Additional Repayments previously made by that Obligor; (ii) after allowing for all payments which the Issuer is then required to make or which the Trust Manager reasonably expects that the Issuer will be required to make, there is or will be sufficient cash in the assets of the Trust (whether as a result of the issue of Redraw Notes or otherwise) for the Issuer to provide that Redraw; and (iiiii) any amount which the Loan is not in Arrears at the time of the request for the Redraw by the Obligor. The Trust Manager is entitled to may direct the Trustee Issuer to, and the Issuer must, apply certain Mortgage Principal Repayments for funding Redraws. If, on a Payment Date, Mortgage Principal Repayments for the Collection Period preceding that Payment Date are insufficient to draw under fund Redraws for that Collection Period, then the Redraw Facility Agreement at that time. (e) If the Manager determines on any Business Day that there is a Redraw Shortfall, the Trust Manager may on give the Issuer a direction to issue a series of Redraw Notes in accordance with clause 12 of the Master Trust Deed and clause 5 of the Series Notice. The Trust Manager must not give such a direction unless it has received written confirmation from each Designated Rating Agency that date direct in writing the Trustee to make a drawing under the Redraw Facility Agreement on that or any other Business Day equal to the amount which the Trustee is permitted to draw under clause 3.1(c) issue of the Redraw Facility Agreement at that timeNotes would not result in a downgrade or withdrawal of a rating of any Note then outstanding.