Abbey Standard Variable Rate definition
Abbey Standard Variable Rate means the standard variable rate set by the Seller in relation to applicable Variable Rate Loans (other than Tracker Loans) beneficially owned by the Seller on the Seller's residential mortgage book; Abbey Subordinated Loan means, for so long as the Covered Bonds are outstanding, the subordinated debt obligation arising from the conversion of the outstanding balance of the Seller's Capital Contribution to the LLP upon the Seller automatically ceasing to be a member of the LLP as a result of the appointment of an administrator or liquidator to the Seller or as a result of the Seller disposing of its interest in the Liquidation Member such that the Seller holds less than 20 per cent. of the share capital of the Liquidation Member; Account Banks means Santander UK plc, acting through its office at ▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇'▇ ▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇ ▇▇▇ and any other financial institution which accedes to the Bank Account Agreement as an Account Bank; Accrual Period means, in accordance with Condition 4.5(c)(i)(A) of the Programme Conditions or, in the case of an N Covered Bond, the meaning set out in the relevant N Covered Bond Conditions, the relevant period from (and including) the most recent Interest Payment Date (or, if none, the Interest Commencement Date) to (but excluding) the relevant payment date;
Abbey Standard Variable Rate means the standard variable rate set by the Seller in relation to applicable Variable Rate Loans (other than Tracker Loans) beneficially owned by the Seller on the Seller's residential mortgage book; Abbey Subordinated Loan means, for so long as the Covered Bonds are outstanding, the subordinated debt obligation arising from the conversion of the outstanding balance of the Seller's Capital Contribution to the LLP upon the Seller automatically ceasing to be a member of the LLP as a result of the appointment of an administrator or liquidator to the Seller or as a result of the Seller disposing of its interest in the Liquidation Member such that the Seller holds less than 20 per cent. of the share capital of the Liquidation Member;
Examples of Abbey Standard Variable Rate in a sentence
Nothing in this Clause 4.6 shall prevent the Seller (or any of its attorneys from time to time) from setting a higher Abbey Standard Variable Rate or higher variable margins applicable in relation to Tracker Loans or higher rates for other discretionary rates or margins than those set or to be set or required or to be required by the LLP and the Security Trustee.