Examples of LLP Deed in a sentence
In addition, following an Issuer Event of Default and the subsequent sale of Loans by the LLP in accordance with the LLP Deed, such sale proceeds will be deposited in the GIC Account for application in accordance with the provisions of the LLP Deed when amounts are Due for Payment.
Any non-contractual matter, claim or dispute arising out of or in connection with the LLP Deed, the Master Definitions and Construction Agreement, the Trust Deed, the Covered Bonds, the Receipts and the Coupons is governed by, and shall be determined in accordance with, English law unless specifically stated to the contrary.
There shall be a deemed Cash Capital Contribution by the Seller (in its capacity as Member) in an amount equal to the relevant increase in respect of the Loan, in accordance with clause 8.3 of the LLP Deed.
As consideration for the assignment of the Further Advance or Flexible Loan Drawing to the LLP, there shall be a deemed Capital Contribution in Kind by the Seller (in its capacity as Member) in an amount equal to the relevant increase of the Outstanding Principal Balance of the Loan, in accordance with clause 8.3 of the LLP Deed.
If the Seller fails to so indemnify the Security Trustee and the LLP within 30 London Business Days of demand being made therefor, then the amounts due may be deducted by way of set-off from income due to the Seller pursuant to clause 14.3(j) of the LLP Deed.
Pursuant to the terms of the LLP Deed, the Seller will agree to use all reasonable endeavours to transfer Loans and their Related Security or Substitution Assets to the LLP or make a Cash Capital Contribution in order to ensure that the Portfolio is in compliance with the Asset Coverage Test.
If a breach of the Asset Coverage Test occurs on any Calculation Date and is not cured by the following Calculation Date, the Bond Trustee will serve an Asset Coverage Test Breach Notice on the LLP which for so long as such Asset Coverage Test Breach Notice remains outstanding will result, inter alia, in the sale of Selected Loans, see further Summary of the Principal Documents – LLP Deed – Sale of Selected Loans and their Related Security.
Prior to and following enforcement of the Security all amounts at any time held by the LLP, the Cash Manager or the Security Trustee in respect of the security created under or pursuant to this Deed shall be held and/or applied by such person subject to and in accordance with the relevant provisions of the LLP Deed, the Cash Management Agreement and the Deed of Charge.
If a breach of the Asset Coverage Test occurs which is not cured on the next Calculation Date, an Asset Coverage Test Breach Notice will be served on the LLP, which will result in the consequences set out in "Summary of the Principal Documents – LLP Deed – Asset Coverage Test".
One of the primary purposes of this type of contract is to promote productive financing, domestic investment, and foreign investment in the provision of goods, works, or services by the Central Government and Decentralized Autonomous Governments.