Common use of TERMINATION BY FUNDING 1 SECURITY TRUSTEE AND FUNDING Clause in Contracts

TERMINATION BY FUNDING 1 SECURITY TRUSTEE AND FUNDING. 2 SECURITY TRUSTEE In addition, prior to the service of an Intercompany Loan Acceleration Notice and/or a Master Intercompany Loan Acceleration Notice, the Funding 1 Security Trustee and the Funding 2 Security Trustee may terminate this Agreement and close any of the Bank Accounts by serving a notice of termination if any of the events specified in Clause 8.1(b)(i) to (vi) (inclusive) of this Agreement occurs in relation to the Account Bank. Following the service of an Intercompany Loan Acceleration Notice and/or a Master Intercompany Loan Acceleration Notice the Funding 1 Security Trustee and the Funding 2 Security Trustee may serve a notice of termination at any time.

Appears in 2 contracts

Samples: Account Agreement (Permanent Funding (No. 2) LTD), Account Agreement (Permanent Funding (No. 2) LTD)

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TERMINATION BY FUNDING 1 SECURITY TRUSTEE AND FUNDING. 2 SECURITY TRUSTEE In addition, prior to the service of an Intercompany Loan Acceleration Notice and/or a Master Intercompany Loan Acceleration Notice, the Funding 1 Security Trustee and the Funding 2 Security Trustee may terminate this Agreement and close any of the Bank Accounts by serving a notice of termination if any of the events specified in Clause 8.1(b)(i8.1(a) to (vif) (inclusive) of this Agreement occurs in relation to the Account Bank. Following the service of an Intercompany Loan Acceleration Notice and/or a Master Intercompany Loan Acceleration Notice the Funding 1 Security Trustee and the Funding 2 Security Trustee may serve a notice of termination at any time.

Appears in 2 contracts

Samples: Account Agreement (Permanent Funding (No. 2) LTD), Account Agreement (Permanent Funding (No. 2) LTD)

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TERMINATION BY FUNDING 1 SECURITY TRUSTEE AND FUNDING. 2 SECURITY TRUSTEE Security Trustee In addition, prior to the service of an Intercompany Loan Acceleration Notice and/or a Master Intercompany Loan Acceleration Notice, the Funding 1 Security Trustee and the Funding 2 Security Trustee may terminate this Agreement and close any of the Bank Accounts by serving a notice of termination if any of the events specified in Clause 8.1(b)(i8.1(i) to (vi) (inclusive) of this Agreement occurs in relation to the Account Bank. Following the service of an Intercompany Loan Acceleration Notice and/or a Master Intercompany Loan Acceleration Notice the Funding 1 Security Trustee and the Funding 2 Security Trustee may serve a notice of termination at any time.

Appears in 1 contract

Samples: Account Agreement

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