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);

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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 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

• The Cash Manager undertakes (to the extent to which the same is within its control) that at the Initial Closing Date the Funding GIC Account will be operative and that the Cash Manager will not knowingly create or permit to subsist any Security Interest in relation to the Funding GIC Account other than as created under or permitted pursuant to the Funding Deed of Charge.

• The Cash Manager undertakes (to the extent to which the same is within its control) that at the Initial Closing Date the Funding (First Issuer) GIC Account will be operative and that the Cash Manager will not knowingly create or permit to subsist any Security Interest in relation to the Funding (First Issuer) GIC Account other than as created under or permitted pursuant to the Funding Deed of Charge.

• The Cash Manager undertakes (to the extent to which the same is within its control) that at the Initial Closing Date the Mortgages Trustee GIC Account will be operative and that the Cash Manager will not knowingly create or permit to subsist any Security Interest in relation to the Mortgages Trustee GIC Account (but without prejudice to the Mortgages Trust and the other Transaction Documents).

• After that following Distribution Date the Mortgages Trustee shall transfer, or procure on its behalf the transfer, from the Mortgages Trustee GIC Account to the relevant collection account of an amount equal to such shortfall subject to it having sufficient funds available to it or the Servicer shall deduct an amount equal to such shortfall from payments otherwise due on a daily basis from the Seller to the Mortgages Trustee in respect of Principal Receipts and Interest Receipts received under the Loans.

• Pursuant to the Cash Management Agreement, the Cash Manager (at the direction of the Mortgages Trustee on behalf of the Beneficiaries at their direction and with their consent) will deduct, as and when identified, Third Party Amounts from the Revenue Receipts standing to the credit of the Mortgages Trustee GIC Account, and pay over the same to the proper recipients thereof.

• The Cash Manager shall withdraw any Early Repayment Charges paid into the Mortgages Trustee Transaction Account or the Mortgages Trustee GIC Account and pay the same to the Seller, by telegraphic transfer to such account as may be specified by the Seller from time to time, promptly following a request for such withdrawal being received from the Seller.

• In administering the Mortgages Trustee Transaction Account, the Mortgages Trustee GIC Account, the Funding Transaction Account, the Funding GIC Account and any Funding (Issuer) GIC Account on behalf of the Mortgages Trustee, Funding and the Security Trustee, as applicable, the Cash Manager shall comply with the provisions of Schedule 2 hereto prior to receipt by the Cash Manager of a copy of any Intercompany Loan Enforcement Notice served by the Security Trustee on Funding.

• Each of the Cash Manager and Funding undertakes that, so far as it is able to procure the same, any Funding (Issuer) GIC Account and all instructions and Mandates in relation thereto will continue to be operative and will not, save as provided in Clause 4.6 herein (Cash Management) or as permitted pursuant to the related Funding (Issuer) Bank Account Agreement, be changed without the prior written consent of the Security Trustee (such consent not to be unreasonably withheld or delayed).

• Pursuant to the Cash Management Agreement, the Cash Manager (at the direction of the Mortgages Trustee acting on behalf of the Beneficiaries at their direction and with their consent which is hereby given) will deduct, as and when identified, Third Party Amounts from the Revenue Receipts standing to the credit of the Mortgages Trustee GIC Account or other Mortgages Trustee Bank Account, and pay over the same to the proper recipients thereof.

• The Cash Manager shall withdraw any Early Repayment Fees paid into the Mortgages Trustee GIC Account and pay the same to the Seller, by telegraphic transfer to such account as may be specified by the Seller from time to time, promptly following a request for such withdrawal being received from the Seller.

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; 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;

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 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: GB11BARC20325384227166), 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 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 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 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.