Common use of Withdrawals from Funding 1 GIC Account Clause in Contracts

Withdrawals from Funding 1 GIC Account. prior to enforcement and acceleration (a) Notwithstanding the Funding 1 Security but subject to Clause 6.1 (Application) and this Clause 6.3 (Withdrawals from Funding 1 GIC Account – prior to enforcement and acceleration), the Cash Manager, on behalf of Funding 1 (subject to the terms of the Cash Management Agreement) will transfer funds standing to the credit of the Funding 1 GIC Account to the Funding 1 Transaction Account on each day during a Funding 1 Interest Period but prior to the issue of an Intercompany Loan Acceleration Notice where such monies represent Funding 1 Available Revenue Receipts to be applied to meet any amounts then due and payable by Funding 1 or the Issuer to third parties, the Account Bank or the Issuer Account Bank in accordance with items (a)(ii), (a)(iii) and (b) (as applicable) of the Funding 1 Pre-Acceleration Revenue Priority of Payments set out in Part 1 of Schedule 4 (Funding 1 Priority of Payments) (as the same may be amended or varied from time to time). (b) Notwithstanding the Funding 1 Security but subject to Clause 6.1 (Application) and this Clause 6.3 (Withdrawals from Funding 1 GIC Account – prior to enforcement and acceleration), the Cash Manager, on behalf of Funding 1 (subject to the terms of the Cash Management Agreement) will transfer funds standing to the credit of the Funding 1 GIC Account to the Funding 1 Transaction Account on each Funding 1 Interest Payment Date prior to the issue of an Intercompany Loan Acceleration Notice where such monies represent Funding 1 Available Revenue Receipts, Funding 1 Available Principal Receipts and/or Relevant Refinancing Distributions to be applied to meet Funding 1's payment obligations in accordance with the Funding 1 Pre-Acceleration Revenue Priority of Payments set out in Part 1 of Schedule 3 to this Deed and the relevant Funding 1 Principal Priorities of Payments set out in Part 2 of Schedule 4 (Funding 1 Priority of Payments) (as the same may be amended or varied from time to time).