Payments Priorities definition

Payments Priorities means, in relation to the Certificates, the provisions relating to the order of priority of payments following the delivery of an Enforcement Notice in relation to the Certificates by the Trustee or in connection with a Mandatory Redemption, set out in the Trust Deed and as described in Condition 5 (Security and Payments Priorities);

Payments Priorities has the meaning ascribed to it in the Deed of Charge;

Payments Priorities has the same meaning as in the Deed of Charge. "Rating Agencies" means Fitch and Moody's.

Examples of Payments Priorities in a sentence

• The Certificates will at all times rank without preference or priority pari passu amongst themselves.The Certificates of each Series will be secured pursuant to the security deed entered into by the trustee and the Issuer in respect of such Series (each a "Security Deed") in favour of the trustee for itself and for the other parties listed and entitled to payment in the Payments Priorities (defined below) (the "Secured Creditors"), as follows:i.

• For a more detailed overview of the Payments Priorities, see the sections entitled "Transaction Overview - Overview of Credit Structure and Cashflow - Overview of Payments Priorities" or "Cashflows and Cash Management".

• For the avoidance of doubt, all charges and fees shall be payable in accordance with the relevant Payments Priorities.

• The Secured Creditors in respect of a particular Series (including the Certificateholders) shall look solely to the Available Amount for payments to be made by the Issuer, the obligation of the Issuer to make payments will be limited to the Available Amount (which shall be applied in accordance with the applicable Payments Priorities) and the Secured Creditors for such Series (including the Certificateholders) will have no further recourse to the Issuer in respect thereof.

• Such remuneration shall accrue from day to day and be payable in accordance with the Payments Priorities until the powers, authorities and discretions of the Common Representative are discharged.

More Definitions of Payments Priorities

Payments Priorities means the Pre-Enforcement Payments Priorities and the Post-Enforcement Payments Priorities;

Payments Priorities means the Programme Payment Date Payments Priorities and the Post Event of Default Priority of Payments, as the case may be;

Payments Priorities means, together, the Revenue Priority of Payments, the Principal Priority of Payments, and the Enforcement Priority of Payments;

Payments Priorities has the meaning given to it in the Conditions;

Payments Priorities means the Issuer Pre-Enforcement Payment Priorities and the Issuer Post- Enforcement Payment Priorities;

Payments Priorities means the Pre-Enforcement Interest Payments Priorities, the Pre- Enforcement Principal Payments Priorities and the Post-Enforcement Payments Priorities, as the case may be;

Payments Priorities means the Pre-Enforcement Priority of Payments and the Post Enforcement Priority of Payments. The “Principal Amount Outstanding” of each Note, on any date, shall be an amount equal to (i)(x) the original principal amount of the Notes (being £10,000,000), less (y) the aggregate amount of all principal payments in respect of the Notes which have been made since the Issue Date, divided by (ii) the number of Notes outstanding on such date.