GIC Account definition

GIC Account means the account in the name of the Guarantor (account number ) held with the Account Bank and maintained subject to the terms of this Agreement, the Guaranteed Investment Contract, the Bank Account Agreement and the Security Agreement and includes such additional or replacement account(s) as may be put in place for the Guarantor with the prior consent of the Bond Trustee and designated as such (including the Standby GIC Account);

GIC Account or “GDA Account” means the account in the name of the Guarantor LP (branch number 00002, account number 00002-003:106-662-0) held with the Account Bank and maintained subject to the terms of this Agreement, the Bank Account Agreement and the Security Agreement and includes such additional or replacement account(s) as may be for the time being be put in place for the Guarantor LP with the prior consent of the Bond Trustee and designated as such (including the Standby GIC Account);

GIC Account means the account in the name of the LLP held with Abbey and maintained subject to the terms of the Guaranteed Investment Contract, the Bank Account Agreement, the Deed of Charge and the LLP Deed or such additional or replacement account as may be for the time being be in place pursuant to the Cash Management Agreement with the prior consent of the Security Trustee and designated as such; GIC Account Mandate means the bank account mandate between the LLP and the Account Bank relating to the operation of the GIC Account in or substantially in the form set out in Schedule 1 to the Bank Account Agreement; GIC Balance means, on any day, the amount standing to the credit of the GIC Account as at the opening of business on such day; GIC Provider means Santander UK in its capacity as GIC provider or any successor GIC provider appointed from time to time;

Examples of GIC Account in a sentence

• On the Closing Date, the Cash Manager on behalf of the Issuer will pay the proceeds of the Class Z VFN Holder's funding under the Class Z VFN into the GIC Account.

• The Cash Manager may only transfer funds from the GIC Account to the Transaction Account on an Interest Payment Date for such purpose and no amounts may remain standing to the credit of the Transaction Account following the application of Available Revenue Receipts and Available Principal Receipts in accordance with the Pre-Acceleration Revenue Priority of Payments and the Pre-Acceleration Principal Priority of Payments on any Interest Payment Date.

• The General Reserve Fund will be deposited in the GIC Account (with a corresponding credit recorded to the General Reserve Ledger).

• On each Interest Payment Date, the Cash Manager will transfer amounts standing to the credit of the GIC Account (to the extent required to constitute Available Revenue Receipts and Available Principal Receipts on such Interest Payment Date) to the Transaction Account for application by the Issuer (or the Cash Manager on its behalf) in accordance with the Pre-Acceleration Revenue Priority of Payments and the Pre-Acceleration Principal Priority of Payments on such Interest Payment Date.

• The GIC Provider acknowledges that the GIC Account Mandate shall be subject to the terms of the Deed of Charge, the Guaranteed Investment Contract and this Agreement.

• The Cash Manager shall withdraw any Third Party Amounts (to the extent identified) on a daily basis from the GIC Account (provided that there are sufficient funds standing to the credit of the GIC Account to meet such payment) to make payment to the persons entitled thereto except where such payments have already been provided for elsewhere.

• In the case of the GIC Account, the Issuer confirms that it has delivered to the GIC Provider prior to the Closing Date the duly executed GIC Account Mandate in or substantially in the form set out in Schedule 2 (Form of GIC Account Mandate) and relating to the GIC Account, and the GIC Provider hereby confirms to the Security Trustee that the GIC Account Mandate has been provided to it, that the GIC Account is open and that the GIC Account Mandate is operative.

• The GIC Provider confirms that (on the instructions of the Issuer) the GIC Account has been opened in its books in the name of the Issuer, and it agrees to accept on deposit in the GIC Account all monies transferred, from time to time, to the GIC Account, subject to and upon the terms of this Agreement, the Bank Account Agreement, the Cash Management Agreement and the Deed of Charge.

• The Cash Manager shall, prior to seeking any amendments to the Transaction Account Mandate and/or the GIC Account Mandate which would require the consent of the Security Trustee in accordance with this Clause 5.3, confirm to the Account Bank or the GIC Provider as applicable, whether the consent of the Security Trustee has been obtained.

• Upon termination of the Bank Account Agreement and/or closing of the GIC Account in accordance with Clauses 9.1 (Termination Events), 9.3 (Termination by Security Trustee), 9.4 (Automatic Termination) and 9.5 (Termination by Account Bank and/or GIC Provider) of the Bank Account Agreement, the Issuer shall terminate this Agreement with immediate effect by serving a written notice of termination on the GIC Provider.

More Definitions of GIC Account

GIC Account means the account in the name of the LLP held with Abbey and maintained subject to the terms of the Guaranteed Investment Contract, the Bank Account Agreement, the Deed of Charge and the LLP Deed or such additional or replacement account as may be for the time being be in place pursuant to the Cash Management Agreement with the prior consent of the Security Trustee and designated as such; Event of Default means any of the conditions, events or acts provided in Condition 9.2 (LLP Events of Default) of the Terms and Conditions; FCA means the Financial Conduct Authority;

GIC Account means the euro denominated account established in the name of the Issuer with the GIC Account Bank (IBAN: IBAN GB03 BARC 2032 5365 4721 66), as the same may be renumbered or redesignated from time to time, or such other substitute account as may be opened in accordance with the GIC Agreement.

GIC Account means the account in the name of the Fund held with Arion Bank hf. and maintained subject to the terms of the Guaranteed Investment Contract and the Bank Account Agreement or such additional or replacement account as may be for the time being be in place with the prior consent of the Representative and designated as such; GIC Account Mandate means the bank account mandate between the Fund and the Account Bank relating to the operation of the GIC Account in or substantially in the form set out in Schedule 1 to the Bank Account Agreement; GIC Balance means, on any day, the amount standing to the credit of the GIC Account as at the opening of business on such day; GIC Provider means Arion Bank hf. in its capacity as GIC provider or any successor GIC provider appointed from time to time;

GIC Account means the euro denominated account established in the name of the Issuer with the GIC Account Bank with number 45391233 (IBAN: GB08 BARC 2000 5245 3912 33), as the same may be renumbered or redesignated from time to time, or such other substitute account as may be opened in accordance with the GIC Agreement.

GIC Account means an account in the name of the Issuer at the Account Bank to which amounts invested in accordance with the Guaranteed Investment Contract will be transferred from time to time.

GIC Account means an account in the name of the Issuer at the Account Bank to which amounts invested in accordance with the Guaranteed Investment Contract will be transferred from time to time.