Common use of Restriction on Issuer Account Bank's Rights Clause in Contracts

Restriction on Issuer Account Bank's Rights. Notwithstanding anything to the contrary in any Issuer Account Mandate, the Issuer Account Bank hereby: (a) waives any right it has or may hereafter acquire to combine, consolidate or merge any Issuer Account with any other account of the Issuer Cash Manager, the Issuer, the Mortgages Trustee, Funding 1, the Seller, the Issuer Security Trustee or any other person or any liabilities of the Issuer Cash Manager, the Issuer, the Mortgages Trustee, Funding 1, the Seller, the Issuer Security Trustee or any other person owing to it; (b) agrees that it may not exercise any lien, or, to the extent permitted by law, any set-off or transfer any sum standing to the credit of or to be credited to any Issuer Account in or towards satisfaction of any liabilities of the Issuer Cash Manager, the Issuer, the Mortgages Trustee, Funding 1, the Seller, the Issuer Security Trustee or any other person owing to it; (c) in addition to and without prejudice to its rights and obligations as an Issuer Secured Creditor (including, without limitation, pursuant to clause 5.3 of the Issuer Deed of Charge), agrees that it will not take, and shall not take, any steps whatsoever to recover any amount due or owing to it pursuant to this Agreement or any other debts whatsoever owing to it by the Issuer, or procure the winding-up or liquidation of the Issuer or the making of an administration order in relation to the Issuer or the filing of documents with the court in relation to the Issuer or the service of a notice of intention to appoint an administrator in relation to the Issuer in respect of any of the liabilities of the Issuer whatsoever other than to the extent expressly permitted under the Issuer Deed of Charge; (d) acknowledges and agrees that all the obligations of the Issuer in respect of amounts owing to the Issuer Account Bank under this Agreement are subject to the terms of clause 5.4 of the Issuer Deed of Charge; (e) agrees that it will notify, in accordance with Clause 13 (Notices), the Issuer Cash Manager, the Issuer and the Issuer Security Trustee if compliance with any instruction would cause any Issuer Account to have a negative balance, such notification to be given on the same Business Day that it determines that compliance with such instruction would cause any such account to have a negative balance; and (f) acknowledges that the Issuer has, pursuant to the Issuer Deed of Charge, inter alia, assigned absolutely all its rights, title, interest and benefit, present and future, in and to all sums from time to time standing to the credit of the Issuer Accounts and all of its rights under this Agreement to the Issuer Security Trustee.

Restriction on Issuer Account Bank's Rights. Notwithstanding anything to the contrary in any Issuer Account Mandate, the Issuer Account Bank hereby: (a) waives any right it has or may hereafter acquire to combine, consolidate or merge any Issuer Account with any other account of the Issuer Cash Manager, the Issuer, the Mortgages Trustee, Funding 12, the Seller, the Issuer Security Trustee or any other person or any liabilities of the Issuer Cash Manager, the Issuer, the Mortgages Trustee, Funding 12, the Seller, the Issuer Security Trustee or any other person owing to it; (b) agrees that it may not exercise any lien, lien or, to the extent permitted by law, any set-off or transfer any sum standing to the credit of or to be credited to any Issuer Account in or towards satisfaction of any liabilities of the Issuer Cash Manager, the Issuer, the Mortgages Trustee, Funding 12, the Seller, the Issuer Security Trustee or any other person owing to it; (c) in addition to and without prejudice to its rights and obligations as an Issuer Secured Creditor (including, without limitation, pursuant to clause 5.3 of the Issuer Deed of Charge)Creditor, agrees that it will not take, and shall not take, any steps whatsoever to recover any amount due or owing to it pursuant to this Agreement or any other debts whatsoever owing to it by the Issuer, or procure the winding-up or liquidation of the Issuer or the making of an administration order in relation to the Issuer or the filing of documents with the court in relation to the Issuer or the service of a notice of intention to appoint an administrator in relation to the Issuer in respect of any of the liabilities of the Issuer whatsoever other than to the extent expressly permitted under the Issuer Deed of Charge; (d) acknowledges and agrees that all the obligations of it shall have recourse only to sums paid to or received by (or on behalf of) the Issuer in respect of amounts owing pursuant to the Transaction Documents, subject always to and in accordance with the order of priority set out in the Issuer Account Bank under this Cash Management Agreement are subject to the terms of clause 5.4 of the or, as applicable, Issuer Deed of Charge; (e) agrees that it will notify, in accordance with Clause 13 (Notices)13, the Issuer Cash Manager, the Issuer and the Issuer Security Trustee if compliance with any instruction would cause any Issuer Account to have a negative balance, such notification to be given on the same London Business Day that it determines that compliance with such instruction would cause any such account to have a negative balance; and (f) acknowledges that the Issuer has, pursuant to the Issuer Deed of Charge, inter alia, assigned absolutely by way of security all its rights, title, interest and benefit, present and future, in and to all sums from time to time standing to the credit of the Issuer Accounts and all of its rights under this Agreement to the Issuer Security Trustee.

Restriction on Issuer Account Bank's Rights. Notwithstanding anything to the contrary in any Issuer the Deposit Account Mandate or the Swap Collateral Cash Account Mandate, the Issuer Account Bank hereby: (a) waives any right it has or may hereafter acquire to combine, consolidate or merge any Issuer Account with any other Issuer Account or any other bank account of the Issuer Cash Manager, the Issuer, the Mortgages Trustee, Funding 1, the Seller, the Issuer Security Trustee or any other person or any liabilities of the Issuer Cash Manager, the Issuer, the Mortgages Trustee, Funding 1, the Seller, the Issuer Security Trustee or any other person owing to it; (b) agrees that it holds any amounts deposited in any Issuer Account as banker except (i) that it may not exercise any lien, lien or, to the extent permitted by law, any set-set off or transfer any sum standing to the credit of or to be credited to any Issuer Account in or towards satisfaction of any liabilities to it of the Issuer Cash Manager, the Issuer, the Mortgages Trustee, Funding 1, the Seller, the Issuer Security Trustee or any other person owing to itit and (ii) subject to Clause 16 (Interest), it shall not be liable to account to the Issuer for any interest or other amounts in respect of the amounts deposited; (c) in addition to and without prejudice to its rights and obligations as an Issuer a Secured Creditor (including, without limitation, pursuant to clause 5.3 of the Issuer Deed of Charge)Creditor, agrees that it will not take, and shall not take, any steps whatsoever to recover any amount due or to owing to it pursuant to this Agreement or any other debts whatsoever owing to it by the Issuer, or procure the winding-up or liquidation of the Issuer or procure the making of an administration order in relation to the Issuer or the filing of documents with the court in relation to the Issuer or the service of a notice of intention to appoint an administrator in relation to the Issuer in respect of any of the liabilities of the Issuer whatsoever other than to the extent expressly permitted under the Issuer Deed of ChargeCharge and this Agreement; (d) acknowledges and agrees that all the obligations of the Issuer in respect of amounts owing to the Issuer Account Bank under this Agreement are subject to the terms of clause 5.4 of the Issuer Deed of Charge; (e) agrees that it will notify, in accordance with Clause 13 shall have recourse only to sums paid to or received by (Notices), or on behalf of) the Issuer Cash Manager, the Issuer and the Issuer Security Trustee if compliance with pursuant to this Agreement or any instruction would cause any Issuer Account to have a negative balance, such notification to be given on the same Business Day that it determines that compliance with such instruction would cause any such account to have a negative balanceother Transaction Document; and (fe) acknowledges that the Issuer has, pursuant to the Issuer Deed of Charge, inter alia, assigned absolutely by way of security (and, to the extent not assigned, charged by way of first fixed charge) all of its rights, title, interest and benefit, present and future, in in, to and under the Transaction Documents (other than the Trust Deed and the Deed of Charge) to which it is a party including all sums from time rights to time receive payment of any amounts which may become payable to the Issuer thereunder and all payments received by the Issuer thereunder and all amounts standing to the credit of the Issuer Accounts and all of its rights under this Agreement to the Issuer Security Trustee.

Restriction on Issuer Account Bank's Rights. Notwithstanding anything to the contrary in any Issuer the Deposit Account Mandate or the Swap Collateral Account Mandate, the Issuer Account Bank hereby: (a) waives any right it has or may hereafter acquire to combine, consolidate or merge any Issuer Account with any other Issuer Account or any other bank account of the Issuer Cash Manager, the Issuer, the Mortgages Trustee, Funding 1, the Seller, the Issuer Security Trustee or any other person or any liabilities of the Issuer Cash Manager, the Issuer, the Mortgages Trustee, Funding 1, the Seller, the Issuer Security Trustee or any other person owing to it; (b) agrees that it holds any amounts deposited in any Issuer Account as banker except (i) that it may not exercise any lien, lien or, to the extent permitted by law, any set-set off or transfer any sum standing to the credit of or to be credited to any Issuer Account in or towards satisfaction of any liabilities to it of the Issuer Cash Manager, the Issuer, the Mortgages Trustee, Funding 1, the Seller, the Issuer Security Trustee or any other person owing to itit and (ii) subject to Clause 17 (Interest), it shall not be liable to account to the Issuer for any interest or other amounts in respect of the amounts deposited; (c) in addition to and without prejudice to its rights and obligations as an Issuer a Secured Creditor (including, without limitation, pursuant to clause 5.3 of the Issuer Deed of Charge)Creditor, agrees that it will not take, and shall not take, any steps whatsoever to recover any amount due or to owing to it pursuant to this Agreement or any other debts whatsoever owing to it by the Issuer, or procure the winding-up or liquidation of the Issuer or procure the making of an administration order in relation to the Issuer or the filing of documents with the court in relation to the Issuer or the service of a notice of intention to appoint an administrator in relation to the Issuer in respect of any of the liabilities of the Issuer whatsoever other than to the extent expressly permitted under the Issuer Deed of ChargeCharge and this Agreement; (d) acknowledges and agrees that all the obligations of the Issuer in respect of amounts owing to the Issuer Account Bank under this Agreement are subject to the terms of clause 5.4 of the Issuer Deed of Charge; (e) agrees that it will notify, in accordance with Clause 13 shall have recourse only to sums paid to or received by (Notices), or on behalf of) the Issuer Cash Manager, the Issuer and the Issuer Security Trustee if compliance with pursuant to this Agreement or any instruction would cause any Issuer Account to have a negative balance, such notification to be given on the same Business Day that it determines that compliance with such instruction would cause any such account to have a negative balanceother Transaction Document; and (fe) acknowledges that the Issuer has, pursuant to the Issuer Deed of Charge, inter alia, assigned absolutely by way of security (and, to the extent not assigned, charged by way of first fixed charge) all of its rights, title, interest and benefit, present and future, in in, to and under the Transaction Documents (other than the Trust Deed and the Deed of Charge) to which it is a party including all sums from time rights to time receive payment of any amounts which may become payable to the Issuer thereunder and all payments received by the Issuer thereunder and all amounts standing to the credit of the Issuer Accounts and all of its rights under this Agreement to the Issuer Security Trustee.

Restriction on Issuer Account Bank's Rights. Notwithstanding anything to the contrary in any Issuer Account Mandate, the Issuer Account Bank hereby: (a) waives any right it has or may hereafter acquire to combine, consolidate or merge any Issuer Account with any other account of the Issuer Cash Manager, the Issuer, the Mortgages Trustee, Funding 1, the Seller, the Issuer Security Trustee or any other person or any liabilities of the Issuer Cash Manager, the Issuer, the Mortgages Trustee, Funding 1, the Seller, the Issuer Security Trustee or any other person owing to it; (b) agrees that it may not exercise any lien, or, to the extent permitted by law, any set-off or transfer any sum standing to the credit of or to be credited to any Issuer Account in or towards satisfaction of any liabilities of the Issuer Cash Manager, the Issuer, the Mortgages Trustee, Funding 1, the Seller, the Issuer Security Trustee or any other person owing to it; (c) in addition to and without prejudice to its rights and obligations as an Issuer Secured Creditor (including, without limitation, pursuant to clause 5.3 of the Issuer Deed of Charge), agrees that it will not take, and shall not take, any steps whatsoever to recover any amount due or owing to it pursuant to this Agreement or any other debts whatsoever owing to it by the Issuer, or procure the winding-up or liquidation of the Issuer or the making of an administration order in relation to the Issuer or the filing of documents with the court in relation to the Issuer or the service of a notice of intention to appoint an administrator in relation to the Issuer in respect of any of the liabilities of the Issuer whatsoever other than to the extent expressly permitted under the Issuer Deed of Charge; (d) acknowledges and agrees that all the obligations of the Issuer in respect of amounts owing to the Issuer Account Bank under this Agreement are subject to the terms of clause 5.4 of the Issuer Deed of Charge; (e) agrees that it will notify, in accordance with Clause 13 (Notices)clause 13, the Issuer Cash Manager, the Issuer and the Issuer Security Trustee if compliance with any instruction would cause any Issuer Account to have a negative balance, such notification to be given on the same London Business Day that it determines that compliance with such instruction would cause any such account to have a negative balance; and (f) acknowledges that the Issuer has, pursuant to the Issuer Deed of Charge, inter alia, assigned absolutely by way of security all its rights, title, interest and benefit, present and future, in and to all sums from time to time standing to the credit of the Issuer Accounts and all of its rights under this Agreement to the Issuer Security Trustee.

Restriction on Issuer Account Bank's Rights. ‌ Notwithstanding anything to the contrary in any Issuer the Deposit Account Mandate or the Swap Collateral Account Mandate, the Issuer Account Bank hereby: (a) waives any right it has or may hereafter acquire to combine, consolidate or merge any Issuer Account with any other Issuer Account or any other bank account of the Issuer Cash Manager, the Issuer, the Mortgages Trustee, Funding 1, the Seller, the Issuer Security Trustee or any other person or any liabilities of the Issuer Cash Manager, the Issuer, the Mortgages Trustee, Funding 1, the Seller, the Issuer Security Trustee or any other person owing to it; (b) agrees that it holds any amounts deposited in any Issuer Account as banker except (i) that it may not exercise any lien, lien or, to the extent permitted by law, any set-set off or transfer any sum standing to the credit of or to be credited to any Issuer Account in or towards satisfaction of any liabilities to it of the Issuer Cash Manager, the Issuer, the Mortgages Trustee, Funding 1, the Seller, the Issuer Security Trustee or any other person owing to itit and (ii) subject to Clause 17 (Interest), it shall not be liable to account to the Issuer for any interest or other amounts in respect of the amounts deposited; (c) in addition to and without prejudice to its rights and obligations as an Issuer a Secured Creditor (including, without limitation, pursuant to clause 5.3 of the Issuer Deed of Charge)Creditor, agrees that it will not take, and shall not take, any steps whatsoever to recover any amount due or to owing to it pursuant to this Agreement or any other debts whatsoever owing to it by the Issuer, or procure the winding-up or liquidation of the Issuer or procure the making of an administration order in relation to the Issuer or the filing of documents with the court in relation to the Issuer or the service of a notice of intention to appoint an administrator in relation to the Issuer in respect of any of the liabilities of the Issuer whatsoever other than to the extent expressly permitted under the Issuer Deed of ChargeCharge and this Agreement; (d) acknowledges and agrees that all the obligations of the Issuer in respect of amounts owing to the Issuer Account Bank under this Agreement are subject to the terms of clause 5.4 of the Issuer Deed of Charge; (e) agrees that it will notify, in accordance with Clause 13 shall have recourse only to sums paid to or received by (Notices), or on behalf of) the Issuer Cash Manager, the Issuer and the Issuer Security Trustee if compliance with pursuant to this Agreement or any instruction would cause any Issuer Account to have a negative balance, such notification to be given on the same Business Day that it determines that compliance with such instruction would cause any such account to have a negative balanceother Transaction Document; and (fe) acknowledges that the Issuer has, pursuant to the Issuer Deed of Charge, inter alia, assigned absolutely by way of security (and, to the extent not assigned, charged by way of first fixed charge) all its of its‌ rights, title, interest and benefit, present and future, in in, to and under the Transaction Documents (other than the Trust Deed and the Deed of Charge) to which it is a party including all sums from time rights to time receive payment of any amounts which may become payable to the Issuer thereunder and all payments received by the Issuer thereunder and all amounts standing to the credit of the Issuer Accounts and all of its rights under this Agreement to the Issuer Security Trustee.