Common use of REMUNERATION AND INDEMNIFICATION OF THE NOTE TRUSTEE Clause in Contracts

REMUNERATION AND INDEMNIFICATION OF THE NOTE TRUSTEE. (A) The First Issuer shall pay to the Note Trustee remuneration for its services as trustee as from the date of this Deed, such remuneration to be at such rate and to be paid on such dates as may from time to time be agreed in writing between the First Issuer and the Note Trustee. The rate of remuneration in force from time to time may upon the final redemption of the whole of the First Issuer Notes of any series be reduced by such amount as shall be agreed in writing between the First Issuer and the Note Trustee, such reduced remuneration to be calculated from such date as shall be agreed as aforesaid. Such remuneration shall accrue from day to day and be payable (in priority to payments to the Noteholders) up to and including the date when, all the First Issuer Notes having become due for redemption, the redemption monies and interest thereon to the date of redemption have been paid to the Principal Paying Agent or, as the case may be, the Note Trustee PROVIDED THAT if upon due presentation of any First Issuer Note or any cheque payment of the monies due in respect thereof is improperly withheld or refused, remuneration will commence again to accrue until payment to Noteholders is made.

Appears in 2 contracts

Samples: First Issuer Trust (Permanent Mortgages Trustee LTD), First Issuer Trust (Permanent Mortgages Trustee LTD)

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REMUNERATION AND INDEMNIFICATION OF THE NOTE TRUSTEE. (A) The First Second Issuer shall pay to the Note Trustee remuneration for its services as trustee as from the date of this Deed, such remuneration to be at such rate and to be paid on such dates as may from time to time be agreed in writing between the First Second Issuer and the Note Trustee. The rate of remuneration in force from time to time may upon the final redemption of the whole of the First Second Issuer Notes of any series be reduced by such amount as shall be agreed in writing between the First Second Issuer and the Note Trustee, such reduced remuneration to be calculated from such date as shall be agreed as aforesaid. Such remuneration shall accrue from day to day and be payable (in priority to payments to the Noteholders) up to and including the date when, all the First Second Issuer Notes having become due for redemption, the redemption monies and interest thereon to the date of redemption have been paid to the Principal Paying Agent or, as the case may be, the Note Trustee PROVIDED THAT if upon due presentation of any First Second Issuer Note or any cheque payment of the monies due in respect thereof is improperly withheld or refused, remuneration will commence again to accrue until payment to Noteholders is made.. ------------------------------------------------------------------------------- 20 -------------------------------------------------------------------------------

Appears in 1 contract

Samples: Permanent Mortgages Trustee LTD

REMUNERATION AND INDEMNIFICATION OF THE NOTE TRUSTEE. (A) 14.1 The First Issuer shall pay to the Note Trustee remuneration for its services as trustee as from the date of this Deed, such remuneration to be at such rate and to be paid on such dates as may from time to time be agreed in writing between the First Issuer and the Note Trustee. The rate of remuneration in force from time to time may upon the final redemption of the whole of the First Issuer Notes of any series Series and Class be reduced by such amount as shall be agreed in writing between the First Issuer and the Note Trustee, such reduced remuneration to be calculated from such date as shall be agreed as aforesaid. Such remuneration shall accrue from day to day and be payable (in priority to payments to the Noteholders) up to and including the date when, all the First Issuer Notes having become due for redemption, the redemption monies and interest thereon to the date of redemption have been paid to the Principal Paying Agent or, as the case may be, the Note Trustee PROVIDED THAT if upon due presentation of any First Issuer Note or any cheque payment of the monies due in respect thereof is improperly withheld or refused, remuneration will commence again to accrue until payment to Noteholders is made.

Appears in 1 contract

Samples: Permanent Funding (No. 2) LTD

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REMUNERATION AND INDEMNIFICATION OF THE NOTE TRUSTEE. (A) 14.1 The First Master Issuer shall pay to the Note Trustee remuneration for its services as trustee as from the date of this Deed, such remuneration to be at such rate and to be paid on such dates as may from time to time be agreed in writing between the First Master Issuer and the Note Trustee. The rate of remuneration in force from time to time may upon the final redemption of the whole of the First Issuer Notes of any series Series and Class be reduced by such amount as shall be agreed in writing between the First Master Issuer and the Note Trustee, such reduced remuneration to be calculated from such date as shall be agreed as aforesaid. Such remuneration shall accrue from day to day and be payable (in priority to payments to the Noteholders) up to and including the date when, all the First Issuer Notes having become due for redemption, the redemption monies and interest thereon to the date of redemption have been paid to the Principal Paying Agent or, as the case may be, the Note Trustee PROVIDED THAT if upon due presentation of any First Issuer Note or any cheque payment of the monies due in respect thereof is improperly withheld or refused, remuneration will commence again to accrue until payment to Noteholders is made.

Appears in 1 contract

Samples: Permanent Funding (No. 2) LTD

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