Common use of SALE OR REFINANCING OF SELECTED TRANSFERRED ASSETS Clause in Contracts

SALE OR REFINANCING OF SELECTED TRANSFERRED ASSETS. 8.1 The CBC shall, but does not have an obligation to do so vis-à-vis the Issuer and the Transferor, sell or refinance Selected Mortgage Receivables following the service of a Notice to Pay on the CBC and an Issuer Acceleration Notice on the Issuer, but prior to the service of a CBC Acceleration Notice, if on any date the relevant Series that has the earliest Maturity Date as specified in the applicable Final Terms (ignoring any acceleration of amounts due under the Covered Bonds prior to the occurrence of a CBC Event of Default) (the ''Earliest Maturing Covered Bonds'') have an Extended Due for Payment Date which falls within twelve (12) months, or such other date as the Security Trustee may approve, of such date.

SALE OR REFINANCING OF SELECTED TRANSFERRED ASSETS. 8.1 5.1 The CBC shall, but does not have an obligation to do so vis-à-vis the Issuer and the Transferor, sell or refinance Selected Mortgage Receivables following the service of a Notice to Pay on the CBC and an Issuer Acceleration Notice on the Issuer, but prior to the service of a CBC Acceleration Notice, if on any date the relevant Series that has the earliest Maturity Date as specified in the applicable Final Terms (ignoring any acceleration of amounts due under the Covered Bonds prior to the occurrence of a CBC Event of Default) (the ''Earliest Maturing Covered Bonds'') have an Extended Due for Payment Date which falls within twelve (12) months, or such other date as the Security Trustee may approve, of such date.

SALE OR REFINANCING OF SELECTED TRANSFERRED ASSETS. 8.1 5.1 The CBC agrees with the Security Trustee that it shall, but does not have an obligation to do so vis-à-vis the Issuer and the any Transferor, sell or refinance Selected Mortgage Receivables following the service of a Notice to Pay on the CBC and an Issuer Acceleration Notice on the Issuer, but prior to the service of a CBC Acceleration Notice, if on any date the relevant Series that has the earliest Maturity Date as specified in the applicable Final Terms (ignoring any acceleration of amounts due under the Covered Bonds prior to the occurrence of a CBC Event of Default) (the ''"Earliest Maturing Covered Bonds''") have an Extended Due for Payment Date which falls within twelve (12) months, or such other date as the Security Trustee may approve, of such date.

SALE OR REFINANCING OF SELECTED TRANSFERRED ASSETS. 8.1 The CBC agrees with the Security Trustee that it shall, but does not have an obligation to do so vis-à-vis the Issuer and the any Transferor, sell or refinance the Selected Mortgage Receivables following the service of a Notice to Pay on the CBC and an Issuer Acceleration Notice on the Issuer, but prior to the service of a CBC Acceleration Notice, if on any date the relevant Series that has the earliest Maturity Date as specified in the applicable Final Terms (ignoring any acceleration of amounts due under the Covered Bonds prior to the occurrence of a CBC Event of Default) (the Default)(the ''Earliest Maturing Covered Bonds'') have an Extended Due for Payment Date which falls within twelve (12) months, or such other date as the Security Trustee may approve, of such date.