Common use of Application of Moneys Clause in Contracts

Application of Moneys. All moneys received by the Trustee under these presents shall be held by the Trustee upon trust to apply them (subject to clause 12): (a) First, in payment or satisfaction of all amounts then due and unpaid under these presents to the Trustee and/or any Appointee; (b) Secondly, in or towards retention of an amount which the Trustee considers necessary to pay any amounts that may thereafter become due to be paid under these presents to it or any Appointee, to the extent it considers that moneys received by it thereafter under these presents may be insufficient and/or may not be received in time to pay such amounts; (c) Thirdly, in or towards reimbursement pari passu and rateably of any amounts paid by any Indemnifying Parties as defined in and contemplated by clause 15.7, together with interest thereon as provided in clause 15.8; (d) Fourthly, in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the Notes; and (e) Fifthly, in payment of the balance (if any) to the Issuer (without prejudice to, or liability in respect of, any question as to how such payment to the Issuer shall be dealt with as between the Issuer, the Guarantor and any other person). Without prejudice to this clause 10, if the Trustee holds any moneys which represent principal or interest in respect of Notes which have become void or in respect of which claims have been prescribed under Condition 9 (Prescription), the Trustee will hold such moneys on the above trusts.

Application of Moneys. All moneys received by the Trustee under these presents shall from the Issuer (including any moneys which represent principal or interest in respect of Notes or Coupons which have become void or in respect of which claims have become prescribed under Condition 8 (Prescription)) shall, unless and to the extent attributable, in the opinion of the Trustee, to a particular Series of the Notes, be apportioned pari passu and rateably between each Series of the Notes, and all moneys received by the Trustee under these presents from the Issuer to the extent attributable in the opinion of the Trustee to a particular Series of the Notes or which are apportioned to such Series as aforesaid, be held by the Trustee upon trust to apply them (subject to clause 12Clauses 2.8 and 11): (a) First, first in payment or satisfaction of all amounts then due and unpaid under these presents to the Trustee and/or any Appointee; (b) Secondly, in or towards retention of an amount which the Trustee considers necessary to pay any amounts that may thereafter become due to be paid under these presents to it or any Appointee, to the extent it considers that moneys received by it thereafter under these presents may be insufficient and/or may not be received in time to pay such amounts; (c) Thirdly, in or towards reimbursement pari passu and rateably of any amounts paid by any Indemnifying Parties as defined in and contemplated by clause 15.7, together with interest thereon as provided in clause 15.8; (d) Fourthly, secondly in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the Notes; andNotes of that Series provided that where the Notes of more than one Series have become so due and payable, such monies shall be applied as between the amounts outstanding in respect of the different Series pari passu and rateably; (ec) Fifthly, thirdly in payment of the balance (if any) to the Issuer (without prejudice to, or liability in respect of, any question as to how such payment to the Issuer shall be dealt with as between the Issuer, the Guarantor Issuer and any other person). Without prejudice to this clause 10Clause 9, if the Trustee holds any moneys which represent principal or interest in respect of Notes issued by the Issuer which have become void or in respect of which claims have been become prescribed under Condition 9 8 (Prescription), the Trustee will hold such moneys on the above trusts.

Application of Moneys. 10.01 All moneys received by the Indenture Trustee under these presents shall be held by (or the Trustee upon trust to apply them (subject to clause 12):Agent, as the case may be):- (a) First, in payment respect of sale of the Rig or satisfaction of all amounts then due and unpaid under these presents to the Trustee and/or any Appointeepart thereof; (b) Secondly, in or towards retention respect of an amount which recovery under the Trustee considers necessary to pay any amounts that may thereafter become due to be paid under these presents to it or any Appointee, to the extent it considers that moneys received by it thereafter under these presents may be insufficient and/or may not be received in time to pay such amountsInsurances; (c) Thirdlyin respect of Requisition Compensation, shall be held and applied in the first place to pay or make good all such expenses, liabilities, losses, costs, duties, fees, charges or other moneys whatsoever (together with interest payable thereon under Clause 4.01(b)) as may have been paid or incurred by the Indenture Trustee or the Agent in or about or incidental to the exercise by the Indenture Trustee or the Agent of the powers specified or otherwise referred to in Clauses 8 and 9.01 (or any of them) and in connection with the Indenture Trustee's duties as Indenture Trustee and the balance shall be applied in the following manner:- FIRST: in or towards satisfaction of any amounts in respect of the balance of the Secured Indebtedness as are then accrued, due and payable or are then due and payable by virtue of payment demanded under the Credit Agreement and the other Security Documents (or any of them), in such order of application as the Indenture Trustee shall think fit; SECONDLY: at the option of the Indenture Trustee in retention of an amount equal to any part or parts of the Secured Indebtedness as is or are not then due and payable but which (in the sole and absolute opinion of the Indenture Trustee) will or may become due and payable in the future and, upon the same becoming due and payable, in or towards reimbursement pari passu and rateably satisfaction thereof in accordance with the foregoing provisions of any amounts paid by any Indemnifying Parties as defined in and contemplated by clause 15.7, together with interest thereon as provided in clause 15.8this Clause 10.01; (d) Fourthly, in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the Notes; and (e) Fifthly, in payment of the balance (if any) to the Issuer (without prejudice to, or liability in respect of, any question as to how such payment to the Issuer shall be dealt with as between the Issuer, the Guarantor and any other person). Without prejudice to this clause 10, if the Trustee holds any moneys which represent principal or interest in respect of Notes which have become void or in respect of which claims have been prescribed under Condition 9 (Prescription), the Trustee will hold such moneys on the above trusts.

Application of Moneys. All Except as otherwise provided herein, any moneys received arising from any enforcement hereof, whether by the Trustee under these presents or any Holder of TCPL Sub Notes, shall be held by the Trustee upon trust to apply them (subject to clause 12):and applied by it, together with any moneys then or thereafter in the hands of the Trustee available for the purpose, as follows: (a) First6.7.1 first, in payment or satisfaction of all amounts then due and unpaid under these presents reimbursement to the Trustee and/or any Appointee; (b) Secondlyof the remuneration, in or towards retention expenses, disbursements and advances of an amount which the Trustee considers necessary earned, incurred or made in the administration or execution of the trusts hereunder or otherwise in relation to pay any amounts that may thereafter become due to be paid under these presents to it or any Appointee, to the extent it considers that moneys received by it thereafter under these presents may be insufficient and/or may not be received in time to pay such amounts; (c) Thirdly, in or towards reimbursement pari passu and rateably of any amounts paid by any Indemnifying Parties as defined in and contemplated by clause 15.7, together this Indenture with interest thereon as provided in clause 15.8herein provided; (d) Fourthly6.7.2 second, in or towards payment pari passu and rateably of the principal of all of the TCPL Sub Notes then outstanding, and thereafter in or towards payment of the accrued and unpaid interest and interest on overdue interest on such TCPL Sub Notes (or if the Holders by (i) Ordinary Resolution, by signed instrument only, provided that notice of any Ordinary Resolution passed by signed instrument shall be given by the Trustee to the Holders of TCPL Sub Notes within 30 days of the date on which such resolution was passed or (ii) Extraordinary Resolution, shall have directed payments to be made in accordance with any other order of priority, or without priority as between principal and interest interest, then due and unpaid such moneys shall be applied in accordance with such direction); and 6.7.3 third, the surplus (if any) of such moneys shall be paid to the Issuer or as it may direct; provided, however, that no payments shall be made in respect of the Notes; and (e) Fifthly, in payment of the balance (if any) to the Issuer (without prejudice to, or liability in respect of, any question as to how such payment to the Issuer shall be dealt with as between the Issuer, the Guarantor and any other person). Without prejudice to this clause 10, if the Trustee holds any moneys which represent principal or interest of any TCPL Sub Notes held, directly or indirectly, by or for the benefit of the Issuer or any Affiliate (other than any TCPL Sub Notes pledged for value and in respect good faith to a Person other than the Issuer or an Affiliate, but only to the extent of Notes which have become void or in respect of which claims have been prescribed under Condition 9 (Prescriptionsuch Person’s interest therein), except subject to the Trustee will hold such moneys prior payment in full of the principal, interest, redemption price, if any, or any other amount payable on indebtedness evidenced by the above trustsTCPL Sub Notes or interest on overdue amounts thereof which are not so held.

Application of Moneys. All moneys received by the Trustee under these presents shall be held by the Trustee upon trust to apply them (subject to clause Clause 12): (a) First, in payment or satisfaction of all amounts then due and unpaid under these presents Clause 15 to the Trustee and/or any Appointee; (b) Secondly, Appointee and in or towards retention of an amount which the Trustee considers necessary to pay any amounts that may it considers will thereafter become due to be paid under these presents Clause 15 to it or any Appointee, to the extent it considers that moneys received by it thereafter under these presents may be insufficient and/or may not be received in time to pay such amounts; (cb) Thirdly, in or towards reimbursement pari passu and rateably of any amounts paid by any Indemnifying Parties as defined in and contemplated by clause 15.7, together with interest thereon as provided in clause 15.8; (d) FourthlySecondly, in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the Notes; and (ec) FifthlyThirdly, in payment of the balance (if any) to the Issuer (without prejudice to, or liability in respect of, any question as to how such payment to the Issuer shall be dealt with as between the Issuer, the Guarantor Guarantors and any other person). Without prejudice to this clause Clause 10, if the Trustee holds any moneys which represent principal or interest in respect of Notes which have become void or in respect of which claims have been prescribed under Condition 9 (Prescription)9, the Trustee will hold such moneys on the above trusts.

Application of Moneys. All moneys received by the Trustee under these presents from the Issuer or, as the case may be, the Guarantor (including any moneys which represent principal or interest in respect of Notes, Receipts or Coupons which have become void under Condition 9) shall be held by the Trustee upon trust to apply them (subject to clause Clause 12): (a) First): FIRSTLY, in or towards payment or satisfaction of all amounts then due and unpaid under these presents presents, including, without limitation, Clauses 15 and/or 16.10, to the Trustee and/or any Appointee; (b) Secondly, in or towards retention of an amount which the Trustee considers necessary to pay any amounts that may thereafter become due to be paid under these presents to it or any Appointee; SECONDLY, to the extent it considers that such moneys received by it thereafter under these presents may be insufficient and/or may not be received in time to pay such amounts; (c) Thirdlyare attributable, in or towards reimbursement pari passu and rateably the opinion of any amounts paid by any Indemnifying Parties as defined in and contemplated by clause 15.7the Trustee, together with interest thereon as provided in clause 15.8; (d) Fourthlyto a particular Series of Notes, in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the NotesNotes of that Series; and (e) Fifthly, THIRDLY in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the Notes of each other Series issued by the Issuer; and FOURTHLY in payment of the balance (if any) to the Issuer (without prejudice to, or liability in respect of, any question as to how such payment to the Issuer shall be dealt with as between the Issuer, the Guarantor Issuer and any other person). Without prejudice to this clause Clause 10, if the Trustee holds any moneys which represent principal or interest in respect of Notes issued by the Issuer which have become void or in respect of which claims have been prescribed under Condition 9 (Prescription)9, the Trustee will hold such moneys on the above trusts.

Application of Moneys. 10.1 All moneys (other than Excess Proceeds which shall be applied in the manner set out in Clause 10.2 below) received by the Representative under this Agreement and the Conditions from the Issuer or, as the case may be, the Fund or any administrator, administrative receiver, receiver, liquidator, trustee in sequestration or other similar official appointed in relation to the Issuer or the Fund (including any moneys which represent principal or interest in respect of Covered Bonds, Receipts or Coupons which have become void or in respect of which claims have become prescribed under Condition 9 (Prescription)) shall, unless and to the extent attributable, in the opinion of the Representative, to a particular Series of the Covered Bonds, be apportioned pari passu and rateably between each Series of the Covered Bonds, and all moneys received by the Trustee Representative under these presents shall this Agreement and the Conditions from the Issuer or, as the case may be, the Fund, to the extent attributable in the opinion of the Representative to a particular Series of the Covered Bonds or which are apportioned to such Series as aforesaid, be held by the Trustee upon trust Representative to apply them them: FIRST (subject except in relation to clause 12): (aany such moneys received by the Representative following the occurrence of an Issuer Event of Default and the service by the Representative of an Issuer Acceleration Notice and a Notice to Pay) First, in payment or satisfaction of all amounts then due and unpaid under these presents Clause 15 to the Trustee Representative and/or any Appointee; (b) Secondly, in or towards retention of an amount which the Trustee considers necessary to pay any amounts that may thereafter become due to be paid under these presents to it or any Appointee, to the extent it considers that moneys received by it thereafter under these presents may be insufficient and/or may not be received in time to pay such amounts; (c) Thirdly, in or towards reimbursement pari passu and rateably of any amounts paid by any Indemnifying Parties as defined in and contemplated by clause 15.7, together with interest thereon as provided in clause 15.8; (d) Fourthly, ; SECONDLY in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the NotesCovered Bonds of that Series; and (e) Fifthly, THIRDLY in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the Covered Bonds of each other Series; and FOURTHLY in payment of the balance (if any) to the Issuer (without prejudice to, or liability in respect of, any question as to how such payment to the Issuer shall be dealt with as between extent received from the Issuer, ) or the Guarantor and any other personFund (if received from the Fund). Without prejudice to this clause 10Clause 10.1, if the Trustee Representative holds any moneys (other than Excess Proceeds) which represent principal or interest in respect of Notes Covered Bonds which have become void or in respect of which claims have been prescribed under Condition 9 (Prescription), the Trustee will Representative shall (subject to no sums being then overdue to the Representative or to the Covered Bondholders, Receiptholders or Couponholders in respect of any other Covered Bonds, Receipts or Coupons which have been presented for payment and to paying or providing for the payment or satisfaction of the said costs, charges, expenses and liabilities, including the remuneration of the Representative) hold such moneys to be applied as provided above. (a) Following the occurrence of an Issuer Event of Default and the delivery of an Issuer Acceleration Notice, any Excess Proceeds received by the Representative shall be paid by the Representative on behalf of the above trustsCovered Bondholders of the relevant Series to the Fund for its own account, as soon as practicable, and shall be held by the Fund in the GIC Account and the Excess Proceeds shall be used by the Fund in the same manner as all other moneys from time to time standing to the credit of the GIC Account pursuant to the Cash Management Agreement and any other relevant Transaction Document. Any Excess Proceeds received by the Representative shall discharge pro tanto the obligations of the Issuer in respect of the Covered Bonds, Receipts and Coupons (to the extent of the amount so received) (but shall be deemed not to have done so for the purposes of subrogation rights of the Fund contemplated by Clause 7.7). However, the obligations of the Fund under the Covered Bond Guarantee are (following service of an Issuer Acceleration Notice and a Notice to Pay or, if earlier, following the service of a Fund Acceleration Notice) unconditional and irrevocable and the receipt by the Representative of any Excess Proceeds shall not reduce or discharge any such obligations. (b) By subscribing for Covered Bond(s), each Covered Bondholder shall be deemed to have irrevocably directed the Representative to pay the Excess Proceeds to the Fund in the manner as described above. (c) For the avoidance of doubt, any payments by the Fund to the Covered Bondholders out of the Excess Proceeds, shall reduce the Guaranteed Amounts pro tanto.

Application of Moneys. All moneys received by the Trustee under these presents shall be held by the Trustee upon trust to apply them (subject to clause 1210): (a) First, in payment or satisfaction of all amounts then due and unpaid under these presents clause 14 to the Trustee and/or any Appointee; (b) Secondly, in or towards retention of an amount which the Trustee considers necessary to pay any amounts that may it considers will thereafter become due to be paid under these presents clause 14 to it or any Appointee, to the extent it considers that moneys received by it thereafter under these presents may be insufficient and/or may not be received in time to enable it to pay such amountsamounts in a timely manner; (c) Thirdly, in or towards reimbursement pari passu and rateably of any amounts paid by any Indemnifying Parties as defined in and contemplated by clause 15.7subclause 14.7, together with interest thereon as provided in clause 15.8subclause 14.8; (d) Fourthly, in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the NotesBonds; and (e) Fifthly, in payment of the balance (if any) to the Issuer (without prejudice to, or liability in respect of, any question as to how such payment to the Issuer shall be dealt with as between the Issuer, the Guarantor Issuer and any other person). Without prejudice to this clause 108, if the Trustee holds any moneys which represent principal or interest in respect of Notes Bonds which have become void or in respect of which claims have been prescribed under Condition 9 (Prescription)12, the Trustee will hold such moneys on the above trusts.

Application of Moneys. 10.1 All moneys received by the Trustee under these presents shall from the Issuer or, as the case may be, any Guarantor (including any moneys which represent principal or interest in respect of Notes or Coupons which have become void or in respect of which claims have become prescribed under Condition 8 (Prescription)) shall, unless and to the extent attributable, in the opinion of the Trustee, to a particular Series of the Notes, be apportioned pari passu and rateably between each Series of the Notes, and all moneys received by the Trustee under these presents from the Issuer or, as the case may be, any Guarantor to the extent attributable in the opinion of the Trustee to a particular Series of the Notes or which are apportioned to such Series as aforesaid, be held by the Trustee upon trust to apply them (subject to clause Clause 12): (a) First, in payment or satisfaction of all amounts then due and unpaid under these presents to the Trustee and/or any Appointee; (b) Secondly, in or towards retention of an amount which the Trustee considers necessary to pay any amounts that may thereafter become due to be paid under these presents to it or any Appointee, to the extent it considers that moneys received by it thereafter under these presents may be insufficient and/or may not be received in time to pay such amounts; (c) Thirdly, in or towards reimbursement pari passu and rateably of any amounts paid by any Indemnifying Parties as defined in and contemplated by clause 15.7, together with interest thereon as provided in clause 15.8; (d) Fourthly, ): Secondly in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the NotesNotes of that Series; Thirdly in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the Notes of each other Series; and (e) Fifthly, in payment of the balance (if any) to the Issuer (without prejudice to, or liability in respect of, any question as to how such payment to the Issuer shall be dealt with as between the Issuer, the Guarantor and any other person). 10.2 Without prejudice to this clause Clause 10, if the Trustee holds any moneys which represent principal or interest in respect of Notes which have become void or in respect of which claims have been prescribed under Condition 9 8 (Prescription), the Trustee will hold such moneys on the above trusts.

Application of Moneys. All moneys received by the Trustee in respect of the Notes or amounts payable under these presents shall will, despite any appropriation of all or part of them by the Issuer, be held by the Trustee upon on trust to apply them (subject to clause 12Clause 4) (Subordination): (ai) Firstfirst, in payment or satisfaction of all amounts then due costs, charges, expenses and unpaid liabilities incurred in or about the exercise of powers conferred on the Trustee by these presents or otherwise in relation to these presents and payments made by the Trustee under any of the provisions contained in these presents and of all remuneration payable to the Trustee under these presents with interest thereon (as provided in Clause 10) and in payment or satisfaction of all amounts payable pursuant to the Trustee and/or these presents to any Appointee; (bii) Secondlysecondly, in or towards retention of an amount which the Trustee considers necessary to pay any amounts that may thereafter become due to be paid under these presents to it or any Appointee, to the extent it considers that moneys received by it thereafter under these presents may be insufficient and/or may not be received in time to pay such amounts; (c) Thirdly, in or towards reimbursement pari passu and rateably payment of any amounts paid by any Indemnifying Parties as defined in and contemplated by clause 15.7, together with interest thereon as provided in clause 15.8; (d) Fourthly, in or towards payment pari passu and rateably of all principal and interest then due and unpaid all other sums owing in respect of the NotesNotes pari passu and rateably; and (eiii) Fifthlythirdly, in payment of the balance (if any) to the Issuer (without prejudice to, or liability in respect of, any question as to how such payment to the Issuer shall be dealt with as between the Issuer, the Guarantor and any other person)for itself. Without prejudice to this clause 10Clause, if the Trustee holds any moneys which represent principal or interest in respect of Notes which have become void or in respect of Notes in respect of which claims have been prescribed under Condition 9 (Prescription)become prescribed, the Trustee will hold such moneys monies on the above these trusts.

Application of Moneys. All ALL moneys received by the Trustee under these presents shall, unless and to the extent attributable in the opinion of the Trustee to a particular Series of the Notes, be apportioned pari passu and rateably between each Series of the Notes, and all moneys received by the Trustee under these presents to the extent attributable in the opinion of the Trustee to a particular Series of the Notes or which are apportioned to such Series as aforesaid (including any moneys which represent principal or interest in respect of Notes, Receipts or Coupons which have become void under Condition15) shall be held by the Trustee upon trust to apply them (subject to clause 12): (a) First, Clause11): FIRST in payment or satisfaction of all amounts then due and unpaid under these presents Clauses 14 and/or 15(J) to the Trustee and/or any Appointee; (b) Secondly, in or towards retention of an amount which the Trustee considers necessary to pay any amounts that may thereafter become due to be paid under these presents to it or any Appointee, to the extent it considers that moneys received by it thereafter under these presents may be insufficient and/or may not be received in time to pay such amounts; (c) Thirdly, in or towards reimbursement pari passu and rateably of any amounts paid by any Indemnifying Parties as defined in and contemplated by clause 15.7, together with interest thereon as provided in clause 15.8; (d) Fourthly, ; SECONDLY in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the NotesSecurities of that Series; and (e) Fifthly, THIRDLY in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the Notes of each other Series; and FOURTHLY in payment of the balance (if any) to the relevant Issuer (without with out prejudice to, or liability in respect of, any question as to how such payment to the relevant Issuer shall be dealt with as between the Issuer, the Guarantor relevant Issuer and any other person). Without prejudice to this clause 10, if the Trustee holds any moneys which represent principal or interest in respect of Notes which have become void or in respect of which claims have been prescribed under Condition 9 (Prescription), the Trustee will hold such moneys on the above trusts.

Application of Moneys. All moneys received by the Trustee under these presents shall be held by the Trustee upon trust to apply them (subject to clause 7.8 and clause 12): (a) First, in payment or satisfaction of all amounts then due and unpaid under these presents clause 15 to the Trustee and/or any Appointee; (b) Secondly, in or towards retention of an amount which the Trustee considers necessary to pay any amounts that may thereafter become due to be paid under these presents clause 15 to it or any Appointee, to the extent it considers that moneys received by it thereafter under these presents may be insufficient and/or may not be received in time to pay such amounts; (c) Thirdly, in or towards reimbursement pari passu and rateably of any amounts paid by any Indemnifying Parties as defined in and contemplated by clause 15.7, together with interest thereon as provided in clause 15.8; (d) Fourthly, in or towards payment pari passu and rateably of all principal principal, premium (if any) and interest then due and unpaid in respect of the Notes; and (e) Fifthly, in payment of the balance (if any) to the Issuer (without prejudice to, or liability in respect of, any question as to how such payment to the Issuer shall be dealt with as between the Issuer, the Guarantor Guarantors and any other person). Without prejudice to this clause 10, if the Trustee holds any moneys which represent principal principal, premium (if any) or interest in respect of Notes which have become void or in respect of which claims have been prescribed under Condition 9 (Prescription)9, the Trustee will hold such moneys on the above trusts.

Application of Moneys. All ALL moneys received by the Trustee under these presents shall from the relevant Issuer (including any moneys which represent principal or interest in respect of Notes, Receipts or Coupons which have become void under Condition 9) shall, unless and to the extent attributable, in the opinion of the Trustee, to a particular Series of the Notes issued by the relevant Issuer, be apportioned pari passu and rateably between each Series of the Notes issued by the relevant Issuer, and all moneys received by the Trustee under these presents from the relevant Issuer to the extent attributable in the opinion of the Trustee to a particular Series of the Notes issued by the relevant Issuer or which are apportioned to such Series as aforesaid, be held by the Trustee upon trust to apply them (subject to clause 12): (a) First, Clause 11): FIRST in payment or satisfaction of all amounts then due and unpaid under these presents Clauses 14 and/or 15(J) to the Trustee and/or any Appointee; (b) Secondly, in or towards retention of an amount which the Trustee considers necessary to pay any amounts that may thereafter become due to be paid under these presents to it or any Appointee, to the extent it considers that moneys received by it thereafter under these presents may be insufficient and/or may not be received in time to pay such amounts; (c) Thirdly, in or towards reimbursement pari passu and rateably of any amounts paid by any Indemnifying Parties as defined in and contemplated by clause 15.7, together with interest thereon as provided in clause 15.8; (d) Fourthly, ; SECONDLY in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the NotesNotes of that Series; and (e) Fifthly, THIRDLY in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the Notes of each other Series issued by the relevant Issuer; and FOURTHLY in payment of the balance (if any) to the relevant Issuer (without prejudice to, or liability in respect of, any question as to how such payment to the relevant Issuer shall be dealt with as between the Issuer, the Guarantor relevant Issuer and any other person). Without prejudice to this clause 10Clause 9, if the Trustee holds any moneys which represent principal or interest in respect of Notes issued by the relevant Issuer which have become void or in respect of which claims have been prescribed under Condition 9 (Prescription)9, the Trustee will hold such moneys on the above trusts.

Application of Moneys. All ALL moneys received by the Trustee under these presents shall, unless and to the extent attributable in the opinion of the Trustee to a particular Series of the Notes, be apportioned pari passu and rateably between each Series of the Notes, and all moneys received by the Trustee under these presents to the extent attributable in the opinion of the Trustee to a particular Series of the Notes or which are apportioned to such Series as aforesaid (including any moneys which represent principal or interest in respect of Notes, Receipts or Coupons which have become void under Condition 9) shall be held by the Trustee upon trust to apply them (subject to clause 12): (a) First, Clause 11): FIRST in payment or satisfaction of all amounts then due and unpaid under these presents Clauses 15 and/or 16(J) to the Trustee and/or any Appointee; (b) Secondly, in or towards retention of an amount which the Trustee considers necessary to pay any amounts that may thereafter become due to be paid under these presents to it or any Appointee, to the extent it considers that moneys received by it thereafter under these presents may be insufficient and/or may not be received in time to pay such amounts; (c) Thirdly, in or towards reimbursement pari passu and rateably of any amounts paid by any Indemnifying Parties as defined in and contemplated by clause 15.7, together with interest thereon as provided in clause 15.8; (d) Fourthly, ; SECONDLY in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the NotesNotes of that Series; and (e) Fifthly, and THIRDLY in payment of the balance (if any) to the Issuer (without prejudice to, or liability in respect of, any question as to how such payment to the Issuer shall be dealt with as between the Issuer, the Guarantor PT, PTC and any other personperson including, without limitation, Noteholders of any other Series). Without prejudice to this clause 10, if the Trustee holds any moneys which represent principal or interest in respect of Notes which have become void or in respect of which claims have been prescribed under Condition 9 (Prescription), the Trustee will hold such moneys on the above trusts.

Application of Moneys. 10.1 All moneys received by the Trustee under these presents shall from the Issuer or, as the case may be, any Guarantor (including any moneys which represent principal or interest in respect of Notes or Coupons which have become void or in respect of which claims have become prescribed under Condition 9 (Prescription)) shall, unless and to the extent attributable, in the opinion of the Trustee, to a particular Series of the Notes, be apportioned pari passu and rateably between each Series of the Notes, and all moneys received by the Trustee under these presents from the Issuer or, as the case may be, any Guarantor to the extent attributable in the opinion of the Trustee to a particular Series of the Notes or which are apportioned to such Series as aforesaid, be held by the Trustee upon trust to apply them (subject to clause Clause 12): (a) First, in payment or satisfaction of all amounts then due and unpaid under these presents to the Trustee and/or any Appointee; (b) Secondly, in or towards retention of an amount which the Trustee considers necessary to pay any amounts that may thereafter become due to be paid under these presents to it or any Appointee, to the extent it considers that moneys received by it thereafter under these presents may be insufficient and/or may not be received in time to pay such amounts; (c) Thirdly, in or towards reimbursement pari passu and rateably of any amounts paid by any Indemnifying Parties as defined in and contemplated by clause 15.7, together with interest thereon as provided in clause 15.8; (d) Fourthly, ): Secondly in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the NotesNotes of that Series; Thirdly in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the Notes of each other Series; and (e) Fifthly, in payment of the balance (if any) to the Issuer (without prejudice to, or liability in respect of, any question as to how such payment to the Issuer shall be dealt with as between the Issuer, the Guarantor and any other person). 10.2 Without prejudice to this clause Clause 10, if the Trustee holds any moneys which represent principal or interest in respect of Notes which have become void or in respect of which claims have been prescribed under Condition 9 (Prescription), the Trustee will hold such moneys on the above trusts.

Application of Moneys. All ALL moneys received by the Trustee under these presents shall, unless and to the extent attributable in the opinion of the Trustee to a particular Series of the Notes, be apportioned pari passu and rateably between each Series of the Notes (which are not Book Entry Notes), and all moneys received by the Trustee under these presents to the extent attributable in the opinion of the Trustee to a particular Series of the Notes (which are not Book Entry Notes) or which are apportioned to such Series as aforesaid (including any moneys which represent principal or interest in respect of Notes, Receipts or Coupons which have become void under Condition 9) shall be held by the Trustee upon trust to apply them (subject to clause Clause 12): (a) First, ): FIRST in payment or satisfaction of all amounts then due and unpaid under these presents Clauses 16 and/or 16(J) to the Trustee and/or any Appointee; (b) Secondly, in or towards retention of an amount which the Trustee considers necessary to pay any amounts that may thereafter become due to be paid under these presents to it or any Appointee, to the extent it considers that moneys received by it thereafter under these presents may be insufficient and/or may not be received in time to pay such amounts; (c) Thirdly, in or towards reimbursement pari passu and rateably of any amounts paid by any Indemnifying Parties as defined in and contemplated by clause 15.7, together with interest thereon as provided in clause 15.8; (d) Fourthly, ; SECONDLY in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the NotesNotes of that Series; and (e) Fifthly, and THIRDLY in payment of the balance (if any) to the relevant Issuer or, as the case may be, to the Guarantor (without prejudice to, or liability in respect of, any question as to how such payment to the relevant Issuer shall be dealt with as between the IssuerIssuers, the Guarantor and any other personperson including, without limitation, Noteholders of any other Series). Without prejudice to this clause 10, if the Trustee holds any moneys which represent principal or interest in respect of Notes which have become void or in respect of which claims have been prescribed under Condition 9 (Prescription), the Trustee will hold such moneys on the above trusts.

Application of Moneys. All ALL moneys received by the Trustee under these presents shall from the Issuer or, as the case may be, the Guarantor (including any moneys which represent principal or interest in respect of Notes, Receipts or Coupons which have become void under Condition 8) shall, unless and to the extent attributable, in the opinion of the Trustee, to a particular Series of the Notes, be apportioned pari passu and rateably between each Series of the Notes, and all moneys received by the Trustee under these presents from the Issuer or, as the case may be, the Guarantor to the extent attributable in the opinion of the Trustee to a particular Series of the Notes or which are apportioned to such Series as aforesaid, be held by the Trustee upon trust to apply them (subject to clause Clause 12): (a) First, ): FIRST in payment or satisfaction of all amounts then due and unpaid under these presents Clauses 15 and/or 16(J) to the Trustee and/or any Appointee; (b) Secondly, in or towards retention of an amount which the Trustee considers necessary to pay any amounts that may thereafter become due to be paid under these presents to it or any Appointee, to the extent it considers that moneys received by it thereafter under these presents may be insufficient and/or may not be received in time to pay such amounts; (c) Thirdly, in or towards reimbursement pari passu and rateably of any amounts paid by any Indemnifying Parties as defined in and contemplated by clause 15.7, together with interest thereon as provided in clause 15.8; (d) Fourthly, ; SECONDLY in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the NotesNotes of that Series; and (e) Fifthly, THIRDLY in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the Notes of each other Series; and FOURTHLY in payment of the balance (if any) to the Issuer (without prejudice to, or liability in respect of, any question as to how such payment to the Issuer shall be dealt with as between the Issuer, the Guarantor Issuer and any other person). Without prejudice to this clause Clause 10, if the Trustee holds any moneys which represent principal or interest in respect of Notes which have become void or in respect of which claims have been prescribed under Condition 9 (Prescription)8, the Trustee will hold such moneys on the above trusts.

Application of Moneys. All moneys received by the Trustee under these presents from the Issuer (including any moneys which represent principal or interest in respect of Notes or Coupons which have become void, or in respect of claims which have become prescribed, under Condition 8 (Prescription)) shall be held by the Trustee upon trust to apply them (subject to clause Clause 12): (a) First, ): FIRST in payment or satisfaction of all amounts then due and unpaid under these presents Clauses 14 and/or 15(j) to the Trustee and/or any Appointee; (b) Secondly, in or towards retention of an amount which the Trustee considers necessary to pay any amounts that may thereafter become due to be paid under these presents to it or any Appointee, to the extent it considers that moneys received by it thereafter under these presents may be insufficient and/or may not be received in time to pay such amounts; (c) Thirdly, in or towards reimbursement pari passu and rateably of any amounts paid by any Indemnifying Parties as defined in and contemplated by clause 15.7, together with interest thereon as provided in clause 15.8; (d) Fourthly, ; SECONDLY in or towards payment pari passu and rateably of all principal principal, premium (if any) and interest then due and unpaid in respect of the Notes; and (e) Fifthly, and THIRDLY in payment of the balance (if any) to the Issuer (without prejudice to, or liability in respect of, any question as to how such payment to the Issuer shall be dealt with as between the Issuer, the Guarantor Issuer and any other person). , Without prejudice to this clause 10Clause 9, if the Trustee holds any moneys which represent principal principal, premium (if any) or interest in respect of Notes or Coupons issued by the Issuer which have become void or in respect of which claims have been prescribed under Condition 9 8 (Prescription), the Trustee will hold such moneys on the above trusts.

Application of Moneys. All ALL moneys received by the Trustee under these presents shall, unless and to the extent attributable in the opinion of the Trustee to a particular Series of the Notes, be Table of Contents apportioned pari passu and rateably between each Series of the Notes (which are not Book Entry Notes), and all moneys received by the Trustee under these presents to the extent attributable in the opinion of the Trustee to a particular Series of the Notes (which are not Book Entry Notes) or which are apportioned to such Series as aforesaid (including any moneys which represent principal or interest in respect of Notes, Receipts or Coupons which have become void under Condition 9) shall be held by the Trustee upon trust to apply them (subject to clause Clause 12): (a) First, ): FIRST in payment or satisfaction of all amounts then due and unpaid under these presents Clauses 16 and/or 16(J) to the Trustee and/or any Appointee; (b) Secondly, in or towards retention of an amount which the Trustee considers necessary to pay any amounts that may thereafter become due to be paid under these presents to it or any Appointee, to the extent it considers that moneys received by it thereafter under these presents may be insufficient and/or may not be received in time to pay such amounts; (c) Thirdly, in or towards reimbursement pari passu and rateably of any amounts paid by any Indemnifying Parties as defined in and contemplated by clause 15.7, together with interest thereon as provided in clause 15.8; (d) Fourthly, ; SECONDLY in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the NotesNotes of that Series; and (e) Fifthly, and THIRDLY in payment of the balance (if any) to the relevant Issuer or, as the case may be, to the Guarantor (without prejudice to, or liability in respect of, any question as to how such payment to the relevant Issuer shall be dealt with as between the IssuerIssuers, the Guarantor and any other personperson including, without limitation, Noteholders of any other Series). Without prejudice to this clause 10, if the Trustee holds any moneys which represent principal or interest in respect of Notes which have become void or in respect of which claims have been prescribed under Condition 9 (Prescription), the Trustee will hold such moneys on the above trusts.

Application of Moneys. All ALL moneys received by the Trustee under these presents shall, unless and to the extent attributable in the opinion of the Trustee to a particular Series of the Notes, be apportioned pari passu and rateably between each Series of the Notes (which are not Book Entry Notes), and all moneys received by the Trustee under these presents to the extent attributable in the opinion of the Trustee to a particular Series of the Notes (which are not Book Entry Notes) or which are apportioned to such Series as aforesaid (including any moneys which represent principal or interest in respect of Notes, Receipts or Coupons which have become void under Condition 9) shall be held by the Trustee upon trust to apply them (subject to clause 12): (a) First, Clause 11): FIRST in payment or satisfaction of all amounts then due and unpaid under these presents Clauses 15 and/or 16(J) to the Trustee and/or any Appointee; (b) Secondly, in or towards retention of an amount which the Trustee considers necessary to pay any amounts that may thereafter become due to be paid under these presents to it or any Appointee, to the extent it considers that moneys received by it thereafter under these presents may be insufficient and/or may not be received in time to pay such amounts; (c) Thirdly, in or towards reimbursement pari passu and rateably of any amounts paid by any Indemnifying Parties as defined in and contemplated by clause 15.7, together with interest thereon as provided in clause 15.8; (d) Fourthly, ; SECONDLY in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the NotesNotes of that Series; and (e) Fifthly, and THIRDLY in payment of the balance (if any) to the relevant Issuer (without prejudice to, or liability in respect of, any question as to how such payment to the relevant Issuer shall be dealt with as between the IssuerIssuers, the Guarantor PTC and any other personperson including, without limitation, Noteholders of any other Series). Without prejudice to this clause 10, if the Trustee holds any moneys which represent principal or interest in respect of Notes which have become void or in respect of which claims have been prescribed under Condition 9 (Prescription), the Trustee will hold such moneys on the above trusts.

Application of Moneys. 10.1 All moneys received by the Trustee under these presents shall from the Issuer or, as the case may be, any Guarantor (including any moneys which represent principal or interest in respect of Notes or Coupons which have become void or in respect of which claims have become prescribed under Condition 8 (Prescription)) shall, unless and to the extent attributable, in the opinion of the Trustee, to a particular Series of the Notes, be apportioned pari passu and rateably between each Series of the Notes, and all moneys received by the Trustee under these presents from the Issuer or, as the case may be, any Guarantor to the extent attributable in the opinion of the Trustee to a particular Series of the Notes or which are apportioned to such Series as aforesaid, be held by the Trustee upon trust to apply them (subject to clause Clause 12): (a) First, in payment or satisfaction of all amounts then due and unpaid under these presents to the Trustee and/or any Appointee; (b) Secondly, in or towards retention of an amount which the Trustee considers necessary to pay any amounts that may thereafter become due to be paid under these presents to it or any Appointee, to the extent it considers that moneys received by it thereafter under these presents may be insufficient and/or may not be received in time to pay such amounts; (c) Thirdly, in or towards reimbursement pari passu and rateably of any amounts paid by any Indemnifying Parties as defined in and contemplated by clause 15.7, together with interest thereon as provided in clause 15.8; (d) Fourthly, ): Secondly in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the NotesNotes of that Series; and (e) Fifthly, Thirdly in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the Notes of each other Series; and Fourthly in payment of the balance (if any) to the Issuer (without prejudice to, or liability in respect of, any question as to how such payment to the Issuer shall be dealt with as between the Issuer, the Guarantor Guarantors and any other person). . 10.2 Without prejudice to this clause Clause 10, if the Trustee holds any moneys which represent principal or interest in respect of Notes which have become void or in respect of which claims have been prescribed under Condition 9 8 (Prescription), the Trustee will hold such moneys on the above trusts.