Common use of Repayment of Term Advances Clause in Contracts

Repayment of Term Advances. Subject to Clause 5, on each Loan Payment Date, other than a Loan Payment Date on which a Term Advance is to be repaid under Clause 9, Funding shall repay principal in respect of such Term Advance in an amount equal to: (a) prior to the occurrence of a Trigger Event, enforcement of the Funding Security or the service on the Master Issuer of a Note Enforcement Notice, the lower of: (i) the amount due to be paid on such Loan Payment Date as specified for such Term Advance in the applicable Term Advance Supplement; and (ii) the amount which is available, under the terms of the Funding Deed of Charge and the Cash Management Agreement, to repay principal in respect of such Term Advance as set out in paragraph 1 of part II of schedule 3 of the Funding Deed of Charge, provided that, in the case of any Pass-Through Term Advance, the amount of principal to be repaid by Funding in respect of such Term Advance on the applicable Loan Payment Date shall be calculated in accordance with sub-paragraph (ii) above; or (b) following the occurrence of a Non-Asset Trigger Event but prior to the occurrence of an Asset Trigger Event, enforcement of the Funding Security or the service on the Master Issuer of a Note Enforcement Notice, the amount which is available under the terms of the Funding Deed of Charge and the Cash Management Agreement to repay principal in respect of such Term Advance in such circumstances as set out in paragraph 5 of part II of schedule 3 of the Funding Deed of Charge; or (c) following the occurrence of an Asset Trigger Event but prior to enforcement of the Funding Security or the service on the Master Issuer of a Note Enforcement Notice, the amount which is available under the terms of the Funding Deed of Charge and the Cash Management Agreement to repay principal in respect of such Term Advance in such circumstances as set out in paragraph 6 of part II of schedule 3 of the Funding Deed of Charge; or (d) following enforcement of the Funding Security but prior to service on the Master Issuer of a Note Enforcement Notice, the amount which is available under the terms of the Funding Deed of Charge and the Cash Management Agreement to repay principal in respect of such Term Advance in such circumstances as set out in paragraph 7.1 of part II of schedule 3 of the Funding Deed of Charge; or (e) following service on the Master Issuer of a Note Enforcement Notice, the amount which is available under the terms of the Funding Deed of Charge and the Cash Management Agreement to repay principal in respect of such Term Advance in such circumstances as set out in paragraph 7.2 of part II of schedule 3 of the Funding Deed of Charge. To the extent that there are insufficient funds available to Funding to repay the amount due to be paid on such Loan Payment Date, Funding will be required to repay the shortfall, to the extent that it receives funds therefor (and subject to the terms of the Funding Deed of Charge and the Cash Management Agreement), on subsequent Loan Payment Dates in respect of such Term Advance.

Repayment of Term Advances. Subject to Clause 5, on each Loan Payment Date, other than a Loan Payment Date on which a Term Advance is to be repaid under Clause 9, Funding shall repay principal in respect of such Term Advance in an amount equal to: (a) prior to the earlier to occur of the Step-Up Date (if any) in respect of such Term Advance and prior to the occurrence of a Trigger Event, enforcement of the Funding Security or the service on the Master Issuer of a Note Enforcement Notice, the lower of: (i) the amount due to be paid on such Loan Payment Date as specified for such Term Advance in the applicable Term Advance Supplement; and (ii) the amount which is available, under the terms of the Funding Deed of Charge and the Cash Management Agreement, Agreement to repay principal in respect of such Term Advance as set out in paragraph 1 of part Part II of schedule Schedule 3 of the Funding Deed of Charge, provided that, in the case of any Pass-Through Term Advance, the amount of principal to be repaid by Funding in respect of such Term Advance on the applicable Loan Payment Date shall be calculated in accordance with sub-paragraph (ii) above; or (b) following the occurrence of a Non-Asset Trigger Event but prior to the occurrence of an Asset Trigger Event, enforcement of the Funding Security or the service on the Master Issuer of a Note Enforcement Notice, the amount which is available under the terms of the Funding Deed of Charge and the Cash Management Agreement to repay principal in respect of such Term Advance in such circumstances as set out in paragraph 5 of part Part II of schedule Schedule 3 of the Funding Deed of Charge; or (c) following the occurrence of an Asset Trigger Event but prior to enforcement of the Funding Security or the service on the Master Issuer of a Note Enforcement Notice, the amount which is available under the terms of the Funding Deed of Charge and the Cash Management Agreement to repay principal in respect of such Term Advance in such circumstances as set out in paragraph 6 of part Part II of schedule Schedule 3 of the Funding Deed of Charge; or (d) following enforcement of the Funding Security but prior to service on the Master Issuer of a Note Enforcement Notice, the amount which is available under the terms of the Funding Deed of Charge and the Cash Management Agreement to repay principal in respect of such Term Advance in such circumstances as set out in paragraph 7.1 of part Part II of schedule Schedule 3 of the Funding Deed of Charge; or (e) following service on the Master Issuer of a Note Enforcement Notice, the amount which is available under the terms of the Funding Deed of Charge and the Cash Management Agreement to repay principal in respect of such Term Advance in such circumstances as set out in paragraph 7.2 of part Part II of schedule Schedule 3 of the Funding Deed of Charge. To the extent that there are insufficient funds available to Funding to repay the amount due to be paid on such Loan Payment Date, Funding will be required to repay the shortfall, to the extent that it receives funds therefor (and subject to the terms of the Funding Deed of Charge and the Cash Management Agreement), ) on subsequent Loan Payment Dates in respect of such Term Advance.

Repayment of Term Advances. Subject to Clause CLAUSE 5, on each Loan Payment Date, other than a Loan Payment Date on which a Term Advance is to be repaid under Clause CLAUSE 9, Funding shall repay principal in respect of such Term Advance in an amount equal to: (a) prior to the earlier to occur of the Step-Up Date (if any) in respect of such Term Advance and prior to the occurrence of a Trigger Event, enforcement of the Funding Security or the service on the Master Issuer of a Note Enforcement Notice, the lower of: (i) the amount due to be paid on such Loan Payment Date as specified for such Term Advance in the applicable Term Advance Supplement; and (ii) the amount which is available, under the terms of the Funding Deed of Charge and the Cash Management Agreement, Agreement to repay principal in respect of such Term Advance as set out in paragraph 1 of part Part II of schedule Schedule 3 of the Funding Deed of Charge, provided that, in the case of any Pass-Through Term Advance, the amount of principal to be repaid by Funding in respect of such Term Advance on the applicable Loan Payment Date shall be calculated in accordance with sub-paragraph (ii) above; or (b) following the occurrence of a Non-Asset Trigger Event but prior to the occurrence of an Asset Trigger Event, enforcement of the Funding Security or the service on the Master Issuer of a Note Enforcement Notice, the amount which is available under the terms of the Funding Deed of Charge and the Cash Management Agreement to repay principal in respect of such Term Advance in such circumstances as set out in paragraph 5 of part Part II of schedule Schedule 3 of the Funding Deed of Charge; or (c) following the occurrence of an Asset Trigger Event but prior to enforcement of the Funding Security or the service on the Master Issuer of a Note Enforcement Notice, the amount which is available under the terms of the Funding Deed of Charge and the Cash Management Agreement to repay principal in respect of such Term Advance in such circumstances as set out in paragraph 6 of part Part II of schedule Schedule 3 of the Funding Deed of Charge; or (d) following enforcement of the Funding Security but prior to service on the Master Issuer of a Note Enforcement Notice, the amount which is available under the terms of the Funding Deed of Charge and the Cash Management Agreement to repay principal in respect of such Term Advance in such circumstances as set out in paragraph 7.1 of part Part II of schedule Schedule 3 of the Funding Deed of Charge; or (e) following service on the Master Issuer of a Note Enforcement Notice, the amount which is available under the terms of the Funding Deed of Charge and the Cash Management Agreement to repay principal in respect of such Term Advance in such circumstances as set out in paragraph 7.2 of part Part II of schedule Schedule 3 of the Funding Deed of Charge. To the extent that there are insufficient funds available to Funding to repay the amount due to be paid on such Loan Payment Date, Funding will be required to repay the shortfall, to the extent that it receives funds therefor (and subject to the terms of the Funding Deed of Charge and the Cash Management Agreement), ) on subsequent Loan Payment Dates in respect of such Term Advance.