Common use of TRUST OF MONIES Clause in Contracts

TRUST OF MONIES. 6.1 Notwithstanding the sales effected by and pursuant to this Agreement, if at, or at any other time after the Closing Date (or in respect of Additional Loans, the relevant Further Sale Date) (but in each case prior to any repurchase in accordance with Clause 9 (Warranties and Repurchase by the Seller)) the Seller holds, or there is held to its order, or it receives, or there is received to its order any property, interests, rights or benefits and/or the proceeds thereof (including, without limitation, the proceeds of any claim under the Third Party Buildings Policies) hereby agreed to be sold to the Issuer (and not repurchased by the Seller pursuant to Clause 9 (Warranties and Repurchase by the Seller)), the Seller undertakes to each of the Issuer and the Security Trustee that, subject to Clause 7 (Perfection of the Sale), it will promptly remit, assign and/or transfer the same to the Issuer or, if appropriate, the Security Trustee or as any of them shall direct and until it does so or to the extent that the Seller is unable to effect such remittance, assignment or transfer, it will hold such property, interests, rights or benefits and/or the proceeds thereof upon trust for the Issuer and in particular in terms of the relevant Scottish Declaration of Trust as applicable to Scottish Loans.

TRUST OF MONIES. 6.1 Notwithstanding the sales effected by and pursuant to this Agreement, if at, or at any other time after the Closing Date (or in respect of Additional Loans, the relevant Further Sale Date) (but in each case prior to any repurchase in accordance with Clause 9 (Warranties and Repurchase by the Seller)) the Seller holds, or there is held to its order, or it receives, or there is received to its order any property, interests, rights or benefits and/or the proceeds thereof (including, without limitation, the proceeds of any claim under the Third Party Buildings Policies) hereby agreed to be sold to the Issuer (and not repurchased by the Seller pursuant to Clause 9 (Warranties and Repurchase by the Seller)), the Seller undertakes to each of the Issuer and the Security Trustee that, subject to Clause 7 (Perfection of the Sale), it will promptly remit, assign and/or transfer the same to the Issuer or, if appropriate, the Security Trustee or as any of them shall direct and until it does so or to the extent that the Seller is unable to effect such remittance, assignment or transfer, it will hold such property, interests, rights or benefits and/or the proceeds thereof upon trust for the Issuer and in particular in terms of the relevant Scottish Declaration of Trust as applicable to Scottish LoansIssuer.

TRUST OF MONIES. 6.1 5.1 Notwithstanding the sales effected by and pursuant to this Agreement, if at, or at any other time after the Closing Date (or in respect of Additional Loans, the relevant Further Sale Date) (but in each case prior to any repurchase in accordance with Clause 9 8 (Warranties and Repurchase by the Seller)) the Seller holds, or there is held to its order, or it receives, or there is received to its order any property, interests, rights or benefits and/or the proceeds thereof (including, without limitation, the proceeds of any claim under the Third Party Buildings Policies) hereby agreed to be sold to the Issuer (and not repurchased by the Seller pursuant to Clause 9 8 (Warranties and Repurchase by the Seller)), the Seller undertakes to each of the Issuer and the Security Trustee that, subject to Clause 7 6 (Perfection of the Sale), it will promptly remit, assign and/or transfer the same to the Issuer or, if appropriate, the Security Trustee or as any of them shall direct and until it does so or to the extent that the Seller is unable to effect such remittance, assignment or transfer, it will hold such property, interests, rights or benefits and/or the proceeds thereof upon trust for the Issuer and in particular in terms of the relevant Scottish Declaration of Trust as applicable to Scottish LoansIssuer.

TRUST OF MONIES. 6.1 5.1 Notwithstanding the sales effected by and pursuant to this Agreement, if at, or at any other time after the Closing Date (or in respect of Additional Loans, the relevant Further Sale Date) (but in each case prior to any repurchase in accordance with Clause 9 8 (Warranties and Repurchase by the Seller)) the Seller holds, or there is held to its order, or it receives, or there is received to its order any property, interests, rights or benefits and/or the proceeds thereof (including, without limitation, the proceeds of any claim under the Third Party Buildings Policies) hereby agreed to be sold to the Issuer (and not repurchased by the Seller pursuant to Clause 9 8 (Warranties and Repurchase by the Seller)), the Seller undertakes to each of the Issuer and the Security Trustee that, subject to Clause 7 6 (Perfection of the Sale), it will promptly remit, assign and/or transfer the same to the Issuer or, if appropriate, the Security Trustee or as any of them shall direct and until it does so or to the extent that the Seller is unable to effect such remittance, assignment or transfer, it will hold such property, interests, rights or benefits and/or the proceeds thereof upon trust for the Issuer and in particular in terms of the relevant Scottish Declaration of Trust as applicable to Scottish Loans.Loans.‌