Common use of Use of Ledgers Clause in Contracts

Use of Ledgers. The Cash Manager shall forthwith record monies received or payments made by it on behalf of the Mortgages Trustee, Funding or Funding 2 in the ledgers in the manner set out in this Agreement. If, at any time, the Cash Manager is in any doubt as to which ledger a particular amount should be credited or debited, it shall consult with the Funding Security Trustees (in relation to the Mortgages Trustee Ledgers) or with the Security Trustee (in relation to the Funding Ledgers) or with the Funding 2 Security Trustee (in relation to the Funding 2 Ledgers). Except in the case of the Funding Principal Deficiency Ledger and the Funding 2 Principal Deficiency Ledger, a debit item shall only be made in respect of any of the Mortgages Trustee Ledgers, Funding Ledgers and the Funding 2 Ledgers and the corresponding payment or transfer (if any) may only be made from the applicable Mortgages Trustee Bank Account, the applicable Funding Bank Account or the applicable Funding 2 Bank Account, as the case may be, to the extent that such entry does not cause the relevant ledger to have a debit balance. In the case of the Funding Principal Deficiency Ledger and the Funding 2 Principal Deficiency Ledger, a credit item shall only be made to the extent that such entry does not cause such ledger to have a credit balance.

Use of Ledgers. The Cash Manager shall forthwith record monies received or payments made by it on behalf of the Mortgages Trustee, Funding 1 or Funding 2 in the ledgers in the manner set out in this Agreement. If, at any time, the Cash Manager is in any doubt as to which ledger a particular amount should be credited or debited, it shall consult with the Funding Security Trustees (in relation to the Mortgages Trustee Ledgers) or with the 1 Security Trustee (in relation to the Funding Ledgers) or with and the Funding 2 Security Trustee (in relation to the Funding 2 Ledgers)as applicable) thereon. Except in the case of the Funding 1 Principal Deficiency Ledger and or the Funding 2 Principal Deficiency Ledger, a debit item shall only be made in respect of any of the Mortgages Trustee Ledgers, the Funding 1 Ledgers and the Funding 2 Ledgers and the corresponding payment or transfer (if any) may only be made from the applicable Mortgages Trustee Bank GIC Account, the applicable Funding Bank 1 GIC Account, the Funding 1 Transaction Account, the Funding 2 GIC Account or the applicable Funding 2 Bank Transaction Account, as the case may be, to the extent that such entry does not cause the relevant ledger to have a debit balance. In the case of the Funding 1 Principal Deficiency Ledger and Ledger, each Funding 1 Principal Deficiency Sub-Ledger, the Funding 2 Principal Deficiency Ledger and each Funding 2 Principal Deficiency Sub-Ledger, a credit item shall only be made to the extent that such entry does not cause such ledger to have a credit balance.

Use of Ledgers. The Cash Manager shall forthwith record monies received or payments made by it on behalf of the Mortgages Trustee, Funding 1 or Funding 2 in the ledgers in the manner set out in this Agreement. If, at any time, the Cash Manager is in any doubt as to which ledger a particular amount should be credited or debited, it shall consult with the Funding Security Trustees (in relation to the Mortgages Trustee Ledgers) or with the 1 Security Trustee (in relation to the Funding Ledgers) or with and the Funding 2 Security Trustee (in relation to the Funding 2 Ledgers)as applicable) thereon. Except in the case of the Funding 1 Principal Deficiency Ledger and or the Funding 2 Principal Deficiency Ledger, a debit item shall only be made in respect of any of the Mortgages Trustee Ledgers, the Funding 1 Ledgers and the Funding 2 Ledgers and the corresponding payment or transfer (if any) may only be made from the applicable Mortgages Trustee Bank GIC Account, the applicable Funding 1 GIC Account, the Funding 1 Transaction Account, the Funding 2 GIC Account, the Funding 2 Eligible Bank GIC Account, the Funding 2 Collateralised GIC Account or the applicable Funding 2 Bank Transaction Account, as the case may be, to the extent that such entry does not cause the relevant ledger to have a debit balance. In the case of the Funding 1 Principal Deficiency Ledger and Ledger, each Funding 1 Principal Deficiency Sub-Ledger, the Funding 2 Principal Deficiency Ledger and each Funding 2 Principal Deficiency Sub-Ledger, a credit item shall only be made to the extent that such entry does not cause such ledger to have a credit balance.

Use of Ledgers. The Cash Manager shall forthwith record monies received or payments made by it on behalf of the Mortgages Trustee, Funding 1 or Funding 2 in the ledgers in the manner set out in this Agreement. If, at any time, the Cash Manager is in any doubt as to which ledger a particular amount should be credited or debited, it shall consult with the Funding Security Trustees (in relation to the Mortgages Trustee Ledgers) or with the Security Trustee (in relation to the Funding Ledgers) or with the Funding 2 Security Trustee (in relation to the Funding 2 Ledgers)thereon. Except in the case of the Funding 1 Principal Deficiency Ledger and or the Funding 2 Principal Deficiency Ledger, a debit item shall only be made in respect of any of the Mortgages Trustee Ledgers, the Funding 1 Ledgers and the Funding 2 Ledgers and the corresponding payment or transfer (if any) may only be made from the applicable Mortgages Trustee Bank GIC Account, the applicable Funding Bank 1 GIC Account, the Funding 1 Transaction Account, the Funding 2 GIC Account or the applicable Funding 2 Bank Transaction Account, as the case may be, to the extent that such entry does not cause the relevant ledger to have a debit balance. In the case of the Funding 1 Principal Deficiency Ledger and Ledger, each Funding 1 Principal Deficiency Sub-Ledger, the Funding 2 Principal Deficiency Ledger and each Funding 2 Principal Deficiency Sub-Ledger, a credit item shall only be made to the extent that such entry does not cause such ledger to have a credit balance.