Common use of Security, Enforcement and Limited Recourse Clause in Contracts

Security, Enforcement and Limited Recourse. Party A agrees with Party B and the Security Trustee to be bound by the terms of the Funding 1 Deed of Charge and, in particular, confirms that: (A) no sum will be payable by or on behalf of Party B to it except in accordance with the provisions of the Funding 1 Deed of Charge; and (B) it will not take any steps for the winding up, dissolution or reorganisation or for the appointment of a receiver, administrator, administrative receiver, trustee, liquidator, sequestrator or similar officer of Party B or of any or all of its revenues and assets nor participate in any ex parte proceedings nor seek to enforce any judgment against Party B, subject to the provisions of the Funding 1 Deed of Charge. In relation to all sums due and payable by Party B to Party A, Party A agrees that it will have recourse only to Funding 1 Revenue Receipts and Funding 1 Principal Receipts, but always subject to the order of priority of payments set out in the Third Issuer Cash Management Agreement and the Third Issuer Deed of Charge.

Security, Enforcement and Limited Recourse. Party A agrees with Party B and the Funding 2 Security Trustee to be bound by the terms of the Funding 1 2 Deed of Charge and, in particular, confirms that: (A) no sum will be payable by or on behalf of Party B to it except in accordance with the provisions of the Funding 1 2 Deed of Charge; and (B) it will not take any steps for the winding up, dissolution or reorganisation or for the appointment of a receiver, administrator, administrative receiver, trustee, liquidator, sequestrator or similar officer of Party B or of any or all of its revenues and assets nor participate in any ex parte proceedings nor seek to enforce any judgment against Party B, subject to the provisions of the Funding 1 2 Deed of Charge. In relation to all sums due and payable by Party B to Party A, Party A agrees that it will have recourse only to Funding 1 2 Available Revenue Receipts and Funding 1 2 Available Principal Receipts, but always subject to the order of priority of payments set out in the Third Issuer Cash Management Agreement and the Third Issuer Funding 2 Deed of Charge.

Security, Enforcement and Limited Recourse. Party A agrees with Party B and the Security Trustee to be bound by the terms of the Funding 1 Deed of Charge and, in particular, confirms that: (A) no sum will be payable by or on behalf of Party B to it except in accordance with the provisions of the Funding 1 Deed of Charge; and (B) it will not take any steps for the winding up, dissolution or reorganisation or for the appointment of a receiver, administrator, administrative receiver, trustee, liquidator, sequestrator or similar officer of Party B or of any or all of its revenues and assets nor participate in any ex parte proceedings nor seek to enforce any judgment against Party B, subject to the provisions of the Funding 1 Deed of Charge. In relation to all sums due and payable by Party B to Party A, Party A agrees that it will have recourse only to Funding 1 Revenue Receipts and Funding 1 Principal Receipts, but always subject to the order of priority of payments set out in the Third Seventh Issuer Cash Management Agreement and the Third Seventh Issuer Deed of Charge.