Termination of Authority. The Mortgages Trustee and/or Funding and the Security Trustee may terminate the authority of the Administrator under Clauses 4.1 and 4.3 herein to determine either of the Mortgage Rate(s) or Existing Borrowers' Re-Fix Rate on or after the occurrence of a Termination Event pursuant to Clause 19 herein, in which case the Mortgages Trustee shall set the Mortgage Rate(s) or Existing Borrowers' Re-Fix Rate, as applicable, in accordance with this Clause 4.
Appears in 13 contracts
Samples: Administration Agreement (Granite Mortgages 04-3 PLC), Administration Agreement (Granite Mortgages 03-2 PLC), Administration Agreement (Granite Mortgages 03-1 PLC)
Termination of Authority. The Mortgages Trustee and/or Funding and the Beneficiaries and/or (following the delivery of an Enforcement Notice) the Security Trustee may terminate the authority of the Administrator under Clauses 4.1 and 4.3 herein Clause 5.1 to determine either of the Mortgage Rate(s) or Existing Borrowers' Re-Fix Rate Rates payable by Borrowers on or after the occurrence of a Termination Event pursuant to Clause 19 herein, in which case any of the Mortgages Trustee shall set the Mortgage Rate(s) or Existing Borrowers' Re-Fix Rate, as applicable, in accordance with this Clause 4.following events:
Appears in 1 contract
Samples: Administration Agreement
