Issuer Profit Ledger definition

Issuer Profit Ledger means the ledger so referred to in Clause 6.1.1; "Issuer's Monies" has the meaning specified in Clause 6.4.1;

Issuer Profit Ledger has the meaning given to it in the Administration Agreement;

Issuer Profit Ledger means the ledger opened by the Cash Administrator and designated the Issuer Profit Ledger in the Interest Account;

Examples of Issuer Profit Ledger in a sentence

• Issuer SecurityAs security for its obligations under, among other things, the Notes and the Issuer Loan, the Issuer will grant fixed and floating security interests over all its assets and undertakings (other than the Issuer Profit Ledger in the Issuer Transaction Account and the Class X Account) (which assets and undertakings comprise, primarily, its rights in respect of the Senior Loan and the associated Loan Security) in favour of the Issuer Security Trustee under the Issuer Deed of Charge.

• Issuer SecurityAs security for its obligations under, among other things, the Notes, the Issuer will grant fixed and floating security interests over all its assets and undertakings (other than the Issuer Profit Ledger in the Issuer Transaction Account and the Class X Account) (which assets and undertakings comprise, primarily, its rights in respect of the Securitised Assets and the associated Loan Security) in favour of the Issuer Security Trustee under the Issuer Deed of Charge.

• Powers of the Note Trustee Pursuant to the Spanish Law Pledge, all claims of the Issuer in respect of the Transaction Account (and sums received or recoverable thereunder other than the Issuer Profit Amount and the Issuer Profit Ledger) shall be charged in favour of the Note Trustee.

• Issuer Security As security for its obligations under, among other things, the Notes and the Issuer Loan, the Issuer will grant fixed and floating security interests over all its assets and undertakings (other than the Issuer Profit Ledger of the Issuer Transaction Account and the Class X Account) (which assets and undertakings comprise, primarily, its rights in respect of the Senior Loan and the associated Loan Security) in favour of the Issuer Security Trustee under the Issuer Security Documents.

• There is no intention to accumulate surpluses in the Issuer (other than amounts standing to the General Reserve Fund Ledger and the Issuer Profit Ledger).

More Definitions of Issuer Profit Ledger

Issuer Profit Ledger means the ledger of the Transaction Account which shall record (A) as a credit any amounts retained by the Issuer as profit in accordance with the Pre-Enforcement Revenue Priority of Payments or the Post-Enforcement Priority of Payments (as applicable) and (B) as a debit any amount used to discharge any tax liability of the Issuer. Certain other Secured Amounts rank senior to the Issuer's obligations under the Notes in respect of the allocation of proceeds as set out in the Pre-Enforcement Revenue Priority of Payments and the Post-Enforcement Priority of Payments. Interest payable on the Notes: The interest rates applicable to each Class of Notes are describedin the sections "Full Capital Structure of the Notes" and "Terms and Conditions of the Notes". Interest Deferral: Interest due and payable on the Most Senior Class of Notes willnot be deferred. Interest due and payable on a Class of Notes (other than the Most Senior Class of Notes) may be deferred in accordance with Condition 8.12 (Interest Accrual). Gross-up: None of the Issuer, the Trustee or any other person will be obliged to pay any additional amounts to the Noteholders if there is any withholding or deduction for or on account of taxes from a payment made under the Notes. Redemption: The Notes are subject to the following optional or mandatory redemption events:

Issuer Profit Ledger means the ledger so referred to in sub-clause 6.2.1; "Issuer's Monies" has the meaning specified in Clause 6.5;

Issuer Profit Ledger means the ledger so named with respect to the Series 2006-2 Issuer Distribution Account;

Issuer Profit Ledger means the ledger so named with respect to the Series 2005-A Issuer Distribution Account;

Issuer Profit Ledger means a ledger established in the Transaction Account used to record the retained revenue of the Issuer in accordance with the Cash/Bond Administration Agreement;

Issuer Profit Ledger means the ledger of the Transaction Account so named in the books of the Issuer and maintained by the Cash Manager on behalf of the Issuer;

Issuer Profit Ledger means the ledger referred to in paragraph 9 of Schedule 2 (Cash Management and Maintenance of Ledgers) to the Issuer Cash Management Agreement.