The Initial Closing. Trust Property shall be held by the Mortgages Trustee on the Mortgages Trust upon the satisfaction of the following conditions precedent: (a) due execution and delivery of the Mortgage Sale Agreement as amended and restated by all parties to it; (b) due execution and delivery of this Deed by all parties to it; and (c) in respect of the Funding 1 Share of the Trust Property only, payment of the Purchase Price by Funding 1 to the Seller.
Appears in 4 contracts
Sources: Mortgages Trust Deed (Permanent Financing (No. 5) PLC), Mortgages Trust Deed (Permanent Financing (No. 6) PLC), Mortgages Trust Deed (Permanent Mortgages Trustee LTD)
The Initial Closing. Trust Property shall be held by the Mortgages Trustee on the Mortgages Trust upon the satisfaction of the following conditions precedent:
(a) due execution and delivery of the Mortgage Sale Agreement as amended and restated by all parties to it;
(b) due execution and delivery of this Deed by all parties to it; and
(c) in respect payment by Funding to the Seller of the Funding 1 Share of the Trust Property only, payment of the Purchase Price by Funding 1 to the SellerInitial Consideration.
Appears in 3 contracts
Sources: Mortgages Trust Deed (HOLMES FINANCING (No. 9) PLC), Mortgages Trust Deed (HOLMES FINANCING (No. 9) PLC), Mortgages Trust Deed (Holmes Financing No 8 PLC)
The Initial Closing. Trust Property shall be held by the Mortgages Trustee on the Mortgages Trust upon the satisfaction of the following conditions precedent:
(a) due execution and delivery of the Mortgage Sale Agreement as amended and restated by all parties to it;
(b) due execution and delivery of this Deed by all parties to it; and
(c) in respect payment by Funding to the Seller of the Funding 1 Share Initial Consideration on account of and in satisfaction of the Trust Property only, payment Mortgages Trustee's obligations under Clause 4.4 of the Purchase Price by Funding 1 to the SellerMortgage Sale Agreement.
Appears in 1 contract