Examples of LLP Deed in a sentence
On each LLP Payment Date, the LLP or the Cash Manager on its behalf will transfer Available Revenue Receipts from the Revenue Ledger and the Reserve Ledger, as applicable, to the Payment Ledger on the GIC Account in accordance with Clause 14 (Allocation and Distribution of Revenue Receipts prior to service of a Notice to Pay) of the LLP Deed.
Subject to paragraph (f) of Schedule 1, prior to service of a Notice to Pay or an LLP Acceleration Notice on the LLP, the Cash Manager will procure that Available Principal Receipts standing to the credit of the Payment Ledger on the GIC Account are applied on each LLP Payment Date in accordance with the Pre-Acceleration Principal Priority of Payments (subject to, if an Asset Coverage Test Breach Notice has been served and has not been revoked, Clause 16 of the LLP Deed).
On each LLP Payment Date, the Cash Manager on behalf of the LLP will transfer funds from the relevant Ledgers on the GIC Account to the Payment Ledger on the GIC Account in accordance with Clause 15 (Allocation and Distribution of Principal Receipts prior to service of a Notice to Pay) of the LLP Deed.
Subject to paragraph (f) of Schedule 1, prior to service of a Notice to Pay or an LLP Acceleration Notice on the LLP, the Cash Manager will procure that Available Revenue Receipts standing to the credit of the Payment Ledger on the GIC Account are applied on each LLP Payment Date in accordance with the Pre-Acceleration Revenue Priority of Payments (subject to, if an Asset Coverage Test Breach Notice has been served and has not been revoked, Clause 16 of the LLP Deed).
This Agreement shall automatically terminate (if not terminated earlier pursuant to this Clause 7) on the date falling 90 days after the termination of the LLP Deed.
Pursuant to Clause 11 of the LLP Deed, we are entitled to inform you of the percentage figure selected by us (or by the Cash Manager on our behalf) to be applied on the next following Calculation Date.
The New Member is admitted as a Member by the execution of this deed which shall be deemed to have had effect from the date of the LLP Deed as if it had been an original party thereof.
The charges of the Account Banks for the operation of the each of the LLP Accounts (other than the Swap Payments Accounts and the Swap Collateral Accounts) held with the relevant Account Bank shall be debited to the GIC Account only on the first of each month in accordance with the order of priority set out in the LLP Deed and the Deed of Charge, and the LLP by its execution hereof irrevocably agrees that this shall be done.
We additionally confirm that the percentage set out in the immediately preceding paragraph shall apply for the purposes of the Asset Coverage Test from and including the next following Calculation Date or, where the date of this notification is a Calculation Date, the date hereof until such time as we send further notice to you in accordance with the terms of Clause 11.9 of the LLP Deed.
Capitalised terms defined in the LLP Deed shall bear the same meanings when used in this letter.