Common use of TRUST OF MONIES Clause in Contracts

TRUST OF MONIES. 5.1 Notwithstanding the sales effected by this Agreement, if at, or at any other time after, a Closing Date (but prior to any repurchase in accordance with Clause 8.5) 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 hereby agreed to be sold, the Seller undertakes to each of the Mortgages Trustee, Funding 1, Funding 2, the Funding 1 Security Trustee and the Funding 2 Security Trustee that, subject to Clause 6, it will promptly remit, assign and/or transfer the same to the Mortgages Trustee or, if appropriate, the Funding 1 Security Trustee and the Funding 2 Security Trustee and until it does so or to the extent that the Seller is unable to effect such remittance, assignment, assignation or transfer, it will hold such property, interests, rights or benefits and/or the proceeds thereof upon trust for the Mortgages Trustee subject at all times to the Mortgages Trust.

TRUST OF MONIES. 5.1 Notwithstanding the sales effected by this Agreement, if at, or at any other time after, a the Initial Closing Date (but prior to any repurchase in accordance with Clause 8.58.5 (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 hereby agreed to be sold, the Seller undertakes to each of the Mortgages Trustee, Funding 1, Funding 2, the Funding 1 Security Trustee Companies and the Funding 2 Security Trustee Trustees that, subject to Clause 66 (Completion of the Transfer of Loans), it will promptly remit, assign and/or transfer the same to the Mortgages Trustee or, if appropriate, the Funding 1 Security Trustee and the Funding 2 Security Trustee or as it shall direct and until it does so or to the extent that the Seller is unable to effect such remittance, assignment, assignation or transfer, it will hold such property, interests, rights or benefits and/or the proceeds thereof upon trust for the Mortgages Trustee subject at all times to the Mortgages TrustTrustee.

TRUST OF MONIES. 5.1 6.1 Notwithstanding the sales effected by this Agreement, if at, or at any other time after, a Closing the First Transfer Date (but prior to any repurchase in accordance with Clause 8.59.7) the Seller holds, or there is held to its order, or it receives, or there is received to its order order, any property, interests, rights or benefits and/or the proceeds thereof hereby agreed to be soldsold to the LLP (and not repurchased by the Seller pursuant to Clause 9.7), the Seller undertakes to each of the Mortgages Trustee, Funding 1, Funding 2, the Funding 1 Security Trustee LLP and the Funding 2 Security Trustee that, subject to Clause 67 (Perfection of the Sale), it will promptly remit, assign and/or transfer the same to the Mortgages Trustee LLP or, if appropriate, the Funding 1 Security Trustee and the Funding 2 Security Trustee or as any of them shall direct and until it does so or to the extent that the such Seller is unable to effect such remittance, assignment, assignation or transfer, it will hold such property, interests, rights or benefits and/or the proceeds thereof upon trust for the Mortgages Trustee subject at all times to the Mortgages TrustLLP.