Common use of Responsibility of Seller Clause in Contracts

Responsibility of Seller. The Seller hereby further undertakes with the Mortgages Trustee and Funding that it is and at all times shall remain solely responsible for any Product Switches (other than a Re-Fixed Mortgage Loan), for funding any Cash Re-Draws made by a Borrower under a Flexible Mortgage Loan, for funding any request for any Further Advance made by a Borrower, for funding any request for any Further Draw under a Personal Secured Loan and for paying to the Mortgages Trustee from time to time an amount equal to the Unpaid Interest associated with any Non-Cash Re-Draw made by a Borrower under a Flexible Mortgage Loan. For the avoidance of doubt, neither the Mortgages Trustee nor Funding will be required to advance moneys to the Seller or to a Borrower in order to fund such a Re-Draw or Further Advance or Further Draw in any circumstances whatsoever.

Responsibility of Seller. The Seller hereby further undertakes with the Mortgages Trustee and each Funding Beneficiary that it is and at all times shall remain solely responsible for any Product Switches (other than a Re-Fixed Mortgage Loan), for funding any Cash Re-Draws made by a Borrower under a Flexible Mortgage Loan, for funding any request for any Further Advance made by a Borrower, for funding any request for any Further Draw under a Personal Secured Loan and for paying to the Mortgages Trustee from time to time an amount equal to the Unpaid Interest associated with any Non-Cash Re-Draw made by a Borrower under a Flexible Mortgage Loan. For the avoidance of doubt, neither the Mortgages Trustee nor any Funding Beneficiary will be required to advance moneys to the Seller or to a Borrower in order to fund such a Re-Draw or Further Advance or Further Draw in any circumstances whatsoever.