Common use of AVAILABLE AMOUNTS Clause in Contracts

AVAILABLE AMOUNTS. For the purpose of Condition 5(f) the Note Trustee shall not be satisfied that the Trustee will be in a position to discharge the liabilities referred in their relevant Conditions unless, either: (a) the Trustee will have available to it sufficient cash in the Collection Account and sufficient Authorised Investments which will mature on or before the relevant Payment Date after making any other payments or provisions having priority in order of application under the applicable provisions of the Security Trust Deed; or (b) the Trustee has entered into a legally binding contract with an entity either whose long term unsecured and unguaranteed debt is rated AA- by S&P and Aa2 by ▇▇▇▇▇'▇ or whose short term unsecured and unguaranteed debt securities are rated A-1 by S&P and P-1 by ▇▇▇▇▇'▇ to provide sufficient cash on or before the relevant Payment Date to enable the Trustee to discharge the relevant liabilities, and in each circumstance the Trust Manager has certified to the Note Trustee that the requirements of clause 7.4(a) or (b) have been met and the Note Trustee shall be entitled to rely on such certification.

AVAILABLE AMOUNTS. For the purpose of Condition 5(f) the Note Trustee shall not be satisfied that the Trustee will be in a position to discharge the liabilities referred in their relevant Conditions unless, either: (a) the Trustee will have available to it sufficient cash in the Collection Account and sufficient Authorised Investments which will mature on or before the relevant Payment Date after -------------------------------------------------------------------------------- Page 16 Note Trust ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ -------------------------------------------------------------------------------- making any other payments or provisions having priority in order of application under the applicable provisions of the Security Trust Deed; or (b) the Trustee has entered into a legally binding contract with an entity either whose long term unsecured and unguaranteed debt is rated AA- by S&P and Aa2 Aa3 by ▇▇▇▇▇'▇ Moody's or whose short term unsecured and unguaranteed debt securities are rated A-1 by S&P and P-1 by ▇▇▇▇▇'▇ Moody's to provide sufficient cash on or before the relevant Payment Date to enable the Trustee to discharge the relevant liabilities, and in each circumstance the Trust Manager has certified to the Note Trustee that the requirements of clause 7.4(a) or (b) have been met and the Note Trustee shall be entitled to rely on such certification.