25 Jul 2017 12:50
25 July 2017
Gosforth Funding 2016-1 plc
(Incorporated with limited liability in England and Wales with registered number 09861458)
NOTICE
To the holders of the following securities
US$300,000,000 Class A1a Mortgage Backed Floating Rate Notes Due 2058 ISIN XS1340857116 (Reg S Notes) ISIN US383122AA68 (144A Notes)
£350,000,000 Class A1b Mortgage Backed Floating Rate Notes Due 2058 ISIN XS1340857546 (Reg S Notes) ISIN XS1340857975 (144A Notes)
€375,000,000 Class A2a Mortgage Backed Floating Rate Notes Due 2058 ISIN XS1340858510 (Reg S Notes) ISIN XS1340859328 (144A Notes)
£552,536,000 Class A2b Mortgage Backed Floating Rate Notes Due 2058 ISIN XS1340859674 (Reg S Notes) ISIN XS1340859757 (144A Notes)
£62,176,000 Class M Mortgage Backed Floating Rate Notes Due 2058 ISIN XS1340860177 (Reg S Notes) ISIN XS1340860417 (144A Notes)
£93,152,000 Class Z Mortgage Backed Fixed Rate Notes Due 2058 ISIN XS1340860508 (Reg S Notes) ISIN XS1340860680 (144A Notes)
Termination of appointment of the Back-Up Issuer Cash Manager, Back-Up Trust Property Cash Manager, and Back-Up Administrator
1 Capitalised terms used and not defined in this notice have the meanings given to them in the Gosforth Funding 2016-1 plc Master Definitions and Construction Schedule.
2 Pursuant to Clause 6.5 of the Back-Up Issuer Cash Management Agreement, following the occurrence of a Back-Up Issuer Cash Manager Termination Trigger Event, the appointment of the Back-Up Issuer Cash Manager can be terminated on three months' notice without a successor being appointed.
3 Pursuant to Clause 6.5 of the Back-Up Trust Property Cash Management Agreement, following the occurrence of a Back-Up Trust Property Cash Manager Termination Trigger Event, the appointment of the Back-Up Trust Property Cash Manager can be terminated on three months' notice without a successor being appointed.
4 Pursuant to Clause 8.5 of the Back-Up Administration Agreement, following the occurrence of a Back-Up Administrator Termination Trigger Event, the appointment of the Back-Up Administrator can be terminated on six months' notice without a successor being appointed.
5 On 26 June 2017, Moody's assigned a Baa2/P-2 deposits and issuer ratings to Virgin Money plc and accordingly a Back-Up Issuer Cash Manager Termination Trigger Event, a Back-Up Trust Property Cash Manager Termination Trigger Event and a Back-Up Administrator Termination Trigger Event occurred. As a result notices of termination have been issued to each of the Back-Up Issuer Cash Manager, Back-Up Trust Property Cash Manager and Back-Up Administrator on 30 June 2017 which will bring the current agreements to an end following completion of the relevant notice periods. In accordance with the transaction documentation, no successors will be appointed for these roles.
Issued by the Directors
Enquiries to: Gosforth Funding 2016-1 plc
020 7696 5965