Examples of INTERCOMPANY LOAN ACCELERATION NOTICE in a sentence
Notwithstanding Clause 2.1, following the service of an Intercompany Loan Acceleration Notice, at the written request of the Funding 1 Security Trustee the Cash Manager shall cease to act as agent for Funding 1 in relation to the Funding 1 Accounts and shall instead act as agent of the Funding 1 Security Trustee with respect to the provision of the services pursuant to the terms of this Agreement.
Following the service of an Intercompany Loan Acceleration Notice or a Note Acceleration Notice, the Issuer Security Trustee may serve a notice of termination at any time.
In administering the Mortgages Trustee GIC Account, the Funding 1 Transaction Account and the Funding 1 GIC Account on behalf of the Mortgages Trustee, Funding 1 and the Funding 1 Security Trustee respectively, the Cash Manager shall comply with the provisions of Schedule 2 prior to receipt by the Cash Manager of a copy of any Intercompany Loan Acceleration Notice served by the Funding 1 Security Trustee on Funding 1 (with a copy to the Cash Manager and the Mortgages Trustee).
The Funding 1 Security will become immediately enforceable upon the service of an Intercompany Loan Acceleration Notice or, if there is no outstanding Loan Tranche under the Intercompany Loan, upon notice given to the Funding 1 Security Trustee by a Funding 1 Secured Creditor of failure by Funding 1 to pay any other Funding 1 Secured Obligation on its due date (subject to any applicable grace period).
In addition, prior to the service of an Intercompany Loan Acceleration Notice or a Note Acceleration Notice, the Issuer Security Trustee may (if, and only if, it has received express notice of the occurrence of any of the events specified in Clause 9.1 (Termination Events)) terminate this Agreement and close the Issuer Accounts by serving a notice of termination if any of the events specified in Clause 9.1 (Termination Events) of this Agreement occurs in relation to the Issuer Account Bank.
Funding 2 Security will become immediately enforceable upon the service of a Master Intercompany Loan Acceleration Notice or, if there is no outstanding Loan Tranche under the Master Intercompany Loan, upon notice given to the Funding 2 Security Trustee of failure by Funding 2 to pay any other Funding 2 Secured Liability on its due date (subject to any applicable grace period).
In addition, prior to the service of a Master Intercompany Loan Acceleration Notice or a Master Issuer Note Enforcement Notice, the Master Issuer Security Trustee may terminate this Agreement and close any of the Master Issuer Transaction Accounts by serving a notice of termination if any of the events specified in Clause 9.1(a) to (f) (inclusive) of this Agreement occurs in relation to the relevant Master Issuer Account Bank.
After the service of a Master Intercompany Loan Acceleration Notice, all amounts standing to the credit of the Funding 2 Swap Collateral Accounts (if any) will be applied in accordance with the Funding 2 Swap Agreement and any Excess Swap Collateral will be applied in or towards the obligation of Funding 2 to pay such amounts to the Funding 2 Swap Provider under the Funding 2 Swap Agreement.
Each Funding 2 Secured Creditor undertakes to pay to the Funding 2 Security Trustee or the Receiver, as the case may be, all monies received or recovered by it (including by way of set-off or otherwise) subsequent to the service of a Master Intercompany Loan Acceleration Notice in order that such amounts can be applied in accordance with Clause 7.1 (Priorities of Payment – After Service of a Master Intercompany Loan Acceleration Notice) and Clause 7.2 (Amounts in Funding 2 Swap Collateral Accounts).
If any Intercompany Loan Acceleration Notice is served, this facility shall be cancelled and the Funding 1 Loan (and any interest capitalised pursuant to Clause 5.4) and accrued interest shall, subject to the Funding 1 Deed of Charge, become immediately due and payable.