Common use of Signing and Delivery of Mandates Clause in Contracts

Signing and Delivery of Mandates. Funding 1 and the Mortgages Trustee have delivered to the Account Bank prior to the Initial Closing Date and Funding 2 has delivered to the Account Bank on or prior to the Funding 2 Programme Date the duly executed relevant Mandates in or substantially in the forms set out in Schedule 1 hereto and relating to the Bank Accounts (together, the MANDATES), and the Account Bank hereby confirms to the Funding 1 Security Trustee and the Funding 2 Security Trustee that the Mandates have been provided to it, that the Bank Accounts are open and that the respective Mandates are operative. The Account Bank acknowledges that the Mandates and any other mandates delivered from time to time pursuant to the terms hereof shall be subject to the terms of the Funding 1 Deed of Charge, the Funding 2 Deed of Charge, the Mortgages Trust Deed and this Agreement as appropriate.