Reduction of Fees. In the event that: (a) after redemption in full of the Intercompany Loans; or (b) after service of an Intercompany Loan Enforcement Notice and payment of all other prior claims, the remaining sums available to the Mortgages Trustee or remaining proceeds of enforcement are insufficient to satisfy in full the outstanding fees or other claims of the Administrator, such fees shall be reduced by the amount of the deficiency.
Appears in 14 contracts
Samples: Administration Agreement (Granite Mortgages 03-3 PLC), Administration Agreement (Granite Mortgages 03-2 PLC), Administration Agreement (Granite Mortgages 03-2 PLC)
Reduction of Fees. In the event that:
(a) after redemption in full of the Intercompany Loans; or
(b) after service of an Intercompany Loan Enforcement Notice and payment of all other prior claims, the remaining sums available to the Mortgages Trustee or remaining proceeds of enforcement are insufficient to satisfy in full the outstanding fees or other claims of the AdministratorServicer, such fees shall be reduced by the amount of the deficiency.
Appears in 3 contracts
Samples: Administration Agreement (Granite Finance Funding 2 LTD), Administration Agreement (Granite Finance Trustees LTD), Administration Agreement (Granite Finance Trustees LTD)
