Revenue Priority of Payments definition

Revenue Priority of Payments has the meaning given to it in the Deed of Charge; "Reversionary Period" has the meaning given to it in the Mortgage Sale Agreement; "Secured Amounts" has the same meaning as in the Conditions;

Revenue Priority of Payments has the meaning given to it in Clause 14.3 of the LLP Deed; Pre-Maturity Liquidity Ledger means the ledger on the GIC Account maintained by the Cash Manager pursuant to the Cash Management Agreement to record the credits and debits of moneys available to repay any Series of Hard Bullet Covered Bonds on the Final Maturity Date thereof if the Pre-Maturity Test has been breached;

Revenue Priority of Payments means the provisions relating to the order of priority of payments in respect of application of Revenue Collections in respect of Senior Debt and Junior Debt following the delivery of a Loan Enforcement Notice but prior to the delivery of a Loan Acceleration Notice as set out in Schedule 2, Part A to the STID or following the occurrence of any of the events set out in Schedule 9, Paragraph 12 of the Common Terms Agreement.

Examples of Revenue Priority of Payments in a sentence

• The Cash Manager shall pay or provide for amounts due under the Pre-Acceleration Revenue Priority of Payments before paying amounts due under the Pre-Acceleration Principal Priority of Payments.

• The Cash Manager may only transfer funds from the GIC Account to the Transaction Account on an Interest Payment Date for such purpose and no amounts may remain standing to the credit of the Transaction Account following the application of Available Revenue Receipts and Available Principal Receipts in accordance with the Pre-Acceleration Revenue Priority of Payments and the Pre-Acceleration Principal Priority of Payments on any Interest Payment Date.

• On each Interest Payment Date, the Cash Manager will transfer amounts standing to the credit of the GIC Account (to the extent required to constitute Available Revenue Receipts and Available Principal Receipts on such Interest Payment Date) to the Transaction Account for application by the Issuer (or the Cash Manager on its behalf) in accordance with the Pre-Acceleration Revenue Priority of Payments and the Pre-Acceleration Principal Priority of Payments on such Interest Payment Date.

• The relevant portion of the cash management fee referred to in Clause 9.1 (Fees payable) shall be paid to the Cash Manager quarterly in arrears on each Interest Payment Date in the manner contemplated by and in accordance with the provisions of the Pre-Acceleration Revenue Priority of Payments or, as the case may be, the Post-Acceleration Priority of Payments.

• The Servicing Fee shall be payable quarterly in arrear on each Interest Payment Date in accordance with the Pre-Acceleration Revenue Priority of Payments or, as the case may be, the Post-Acceleration Priority of Payments.

More Definitions of Revenue Priority of Payments

Revenue Priority of Payments means the priority of payments set out in Clause 6.1.2;

Revenue Priority of Payments. On each Payment Date or Interest Payment Date, prior to the Current Issuer Security becoming enforceable pursuant to Clause 7.2 (Enforceable), the Note Trustee hereby authorises the Current Issuer or the Current Issuer Cash Manager in its place to withdraw Current Issuer Available Revenue Receipts standing to the credit of the Current Issuer Transaction Accounts and to apply such monies in accordance with the provisions and the order of priority of the Current Issuer Pre-Enforcement Revenue Priority of Payments (as the same may be amended or varied from time to time) as set out in Schedule 2 (Cash Management and Maintenance of Ledgers) to the Current Issuer Cash Management Agreement.

Revenue Priority of Payments has the meaning given to it in Clause 14.3 of the LLP Deed;

Revenue Priority of Payments. On each Monthly Payment Date falling in a Monthly Payment Period prior to the Funding 2 Security becoming enforceable pursuant to Clause 6.2 (Enforceable), the Funding 2 Security Trustee hereby authorises Funding 2 or the Cash Manager on its behalf to withdraw Funding 2 Available Revenue Receipts from the Funding 2 GIC Account that have been allocated towards the payments and provisions in respect of amounts due on that Monthly Payment Date in accordance with the rules and the order of priority of the Funding 2 Pre-Enforcement Revenue Priority of Payments and the provisions of the Cash Management Agreement and to apply such monies to the making of such payments and provisions.

Revenue Priority of Payments has the meaning given in Section 6.1 of the Guarantor Agreement;

Revenue Priority of Payments. On each Monthly Payment Date prior to the Funding 2 Security becoming enforceable pursuant to Clause 6.2 (Enforceable), the Funding 2 Security Trustee hereby authorises Funding 2 or the Cash Manager in its place to withdraw Funding 2 Available Revenue Receipts from the Funding 2 Transaction Account and to apply such monies in accordance with the rules and the order of priority of the Funding 2 Pre-Enforcement Revenue Priority of Payments.

Revenue Priority of Payments means the priority of payments set out [in Clause [●] (Revenue Priority of Payments) of the Trust [Deed / Agreement] / as such in section [●] (●) of this Prospectus];]