Issuer Priority of Payments definition

Issuer Priority of Payments means, in relation to the First Issuer, the First Issuer Priority of Payments and in relation to any New Issuer, as applicable, any of the relevant Issuer Pre-Enforcement Revenue Priority of Payments, the Issuer Pre-Enforcement Principal Priority of Payments or the Issuer Post-Enforcement Priority of Payments;

Issuer Priority of Payments means the priority of payments set out in Clause 5 (Priority of Payments) of the Issuer Facility Agreement.

Issuer Priority of Payments means the Issuer Revolving Period (Pre-Enforcement) Priority of Payments, the Issuer Rapid Amortisation Period (Pre-Enforcement) Priority of Payments, the Issuer Scheduled Amortisation Period Priority of Payments and the Issuer Rapid Amortisation Period (Post-Enforcement) Priority of Payments.

Examples of Issuer Priority of Payments in a sentence

• All moneys received by the Note Trustee in respect of the Current Issuer Notes or amounts payable under these presents will (including any moneys which represent principal or interest in respect of Current Issuer Notes which have become void under the Current Issuer Conditions) be held by the Note Trustee on trust to apply them (subject to Clause 8.3 (Authorised Investments)) in accordance with the Current Issuer Priority of Payments.

• Such remuneration shall be payable in priority to payments to Noteholders and other Current Issuer Secured Creditors on each Payment Date subject to and in accordance with the relevant Current Issuer Priority of Payments.

• All such amounts shall be payable subject to and in accordance with the Current Issuer Priority of Payments.

• Any amount or securities so withdrawn shall be released from the Security Interests (including the Jersey Security Interests) created under this Current Issuer Deed of Charge provided that any amount withdrawn from the Current Issuer Bank Accounts is applied in accordance with and subject to the relevant Current Issuer Priority of Payments.

• The Current Issuer Corporate Services Provider shall be entitled to remuneration for the services provided by it under this Agreement of an amount to be agreed between the SPV Companies, Northern Rock and the Current Issuer Corporate Services Provider (together with Value Added Tax thereon) which shall consist of remuneration for corporate services hereunder to be borne by the SPV Companies and payable quarterly on Payment Dates subject to and in accordance with the Current Issuer Priority of Payments.

More Definitions of Issuer Priority of Payments

Issuer Priority of Payments means the Issuer Revolving Period (Pre-Enforcement) Priority of Payments, the Issuer Rapid Amortisation Period (Pre- Enforcement) Priority of Payments, the Issuer Scheduled Amortisation Period Priority of Payments and the Issuer Rapid Amortisation Period (Post- Enforcement) Priority of Payments.

Issuer Priority of Payments means any of the [Issuer Pre-Trigger Event Redemption Priority of Payments / Issuer Revenue Priority of Payments / Issuer Post-Trigger Event Redemption Priority of Payments];

Issuer Priority of Payments means the Issuer Pre-Enforcement Priority of Payments and/or after the delivery of a Note Enforcement Notice to the Issuer by the Trustee, the Issuer Post-Enforcement Priority of Payments;

Issuer Priority of Payments means, as applicable, any of the Issuer Pre-Enforcement Revenue Priority of Payments, the Issuer Pre-Enforcement Principal Priority of Payments or the Issuer Post-Enforcement Priority of Payments;

Issuer Priority of Payments means the priority of payments set out in Clause 5 (Priority of Payments) of the Issuer Facility Agreement. “Issuer Related Documents” means this Master Definitions and Construction Agreement, the Issuer Note Framework Agreement, the Issuer Facility Agreement, the Issuer Subordinated Facility Agreement, the Subordinated Issuer Convertible Notes Purchase Agreement, the Preference Certificate Purchase Agreement, the FCT Note Purchase Agreement, the French Payment Direction Agreement, the Issuer Administration Agreement, the Issuer Back-up Administration Agreement, the Dutch Facility Agreement, the Spanish Facility Agreement, the German Facility Agreement, the International Account Bank Agreement, the Issuer Corporate Services Agreement, the Issuer Co-operation Agreement, the Issuer Security Documents, the Tax Deed of Covenant, the Interest Rate Cap Documents, the Credit Support Annex, the Risk Retention Letter, the Global Deed of Termination and Release and any other agreements relating to the issuance or purchase of the Issuer Notes. “Issuer Repeating Representations” means the representations and warranties of the Issuer and the Issuer Administrator set out in Clause 6 and Annex I (Representations and Warranties) of the Issuer Facility Agreement and the representations and warranties of the Issuer set out in the Issuer Note Framework Agreement save for the representations and warranties set out in the following clauses in the Issuer Note Framework Agreement: (i) Sub-Clause 5.3 (No Consent); (ii) Sub-Clause 5.12 (Ownership of Shares; Subsidiary); (iii) Sub-Clause 5.15 (Centre of Main Interests); (iv) Sub-Clause 5.16 (Taxes); (v) Sub-Clause 5.17 (Capitalisation); (vi) Sub-Clause 5.20 (Beneficial Owner); (vii) Sub-Clause 5.28 (No Distributions); and (viii) Sub-Clause 5.23 (Filings). “Issuer Reserve Account” has the meaning specified in Clause 4.2(a) (Establishment of Accounts) of the Issuer Facility Agreement. “Issuer Secured Obligations” means the aggregate of the Issuer’s Indebtedness, liabilities and obligations which are now or may at any time hereafter be due, owing or incurred in any manner whatsoever to the Issuer Secured Parties:

Issuer Priority of Payments means the provisions relating to the order of priority of payments set out in Schedule 2 (Issuer Post-Enforcement Priority of Payments) of the Issuer Deed of Charge and/or after the delivery of a Note Enforcement Notice to the Issuer by the Trustee, means the provisions relating to the order of priority of payments from the Issuer Accounts set out in Schedule 1 (Issuer Pre-Enforcement Priority of Payments) to the Issuer Deed of Charge;

Issuer Priority of Payments means the Issuer Pre-Enforcement Priority of Payments or the Issuer Post-Enforcement Priority of Payments as applicable and "Issuer Priorities of Payments" shall mean both of them;