Common use of SUBORDINATION AND SECURITY Clause in Contracts

SUBORDINATION AND SECURITY. 7.1 The parties hereby agree that repayments in respect of the Advance shall be subordinated to, inter alia, payments of principal and interest on the Current Issuer Intercompany Loan and all other payments or provisions ranking in priority to payments to be made to the Current Issuer Start-Up Loan Provider under this Agreement in accordance with the Funding Priority of Payments and the Funding Deed of Charge.

Appears in 12 contracts

Samples: Execution Version (Granite Mortgages 03-3 PLC), Loan Agreement (Granite Mortgages 03-3 PLC), Loan Agreement (Granite Mortgages 04-2 PLC)

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SUBORDINATION AND SECURITY. 7.1 The parties hereby agree that repayments in respect of the Advance shall be subordinated to, inter aliaINTER ALIA, payments of principal and interest on the Current Issuer Intercompany Loan and all other payments or provisions ranking in priority to payments to be made to the Current Issuer Start-Up Loan Provider under this Agreement in accordance with the Funding Priority of Payments and the Funding Deed of Charge.

Appears in 1 contract

Samples: Loan Agreement (Granite Mortgages 02-2 PLC)

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