Examples of Funding 2 Security Trustee in a sentence
Provided the Custodian is not in receipt of a Notice of Discharge delivered prior to the relevant Secured Party Notice, such Secured Party Notice shall become effective upon the delivery by the Custodian of the Form of Acknowledgment which the Custodian agrees to deliver to Funding 2, the Funding 2 Security Trustee and the Security Provider by 4:00 p.m. on the date of receipt of the Secured Party Notice.
In the event that the Custodian receives a Secured Party Notice from Funding 2 (in its capacity as Secured Party) and/or a Notice of Discharge on the same day on which the Custodian receives an Enforcement Notice from the Funding 2 Security Trustee, Funding 2 and the Funding 2 Security Trustee agree that the Custodian shall be under no obligation to provide an acknowledgement in respect of the Secured Party Notice and shall be under no obligation to act in accordance with the Notice of Discharge.
If required by the Funding 2 Security Trustee, Funding 2 will as soon as practicable notify each of the other Funding 2 Secured Creditors in accordance with this Deed of any modification, authorisation or waiver made under this Clause.
Funding 2 represents to the Funding 2 Security Trustee that this Deed creates those Security Interests it purports to create and is not liable to be amended or otherwise set aside on its liquidation or administration or otherwise, except that Security Interests expressed to be fixed may take effect as floating charge security.
As soon as reasonably practicable and in any case no later than 4:00 p.m. on such date, the Custodian shall send an acknowledgement in, or substantially in, the form attached at annex 1 of the Secured Party Notice to Funding 2, the Funding 2 Security Trustee and the Security Provider (the “Form of Acknowledgment”).
Funding 2 represents to the Funding 2 Security Trustee that any amounts retained by Funding 2 (other than those retained by way of profit) will be reasonably required to provide for losses or expenses arising from Funding 2's business or to maintain or enhance its creditworthiness.
The Funding 2 Security Trustee will not be liable to Funding 2 or any other person for any loss, costs, claims or liabilities arising in connection with its acting upon a request made under this Clause and/or any release made under this Clause.
This Deed will remain valid and enforceable notwithstanding any change in the name, composition or constitution of the Funding 2 Security Trustee or Funding 2 or any merger, amalgamation or consolidation by the Funding 2 Security Trustee or Funding 2 with any other corporation.
The Custodian shall make available to the Security Provider and Funding 2, and after the Funding 2 Security Trustee becomes the Secured Party, the Funding 2 Security Trustee, by 7:00 a.m. on a daily basis or on such other periodic basis as is agreed from time to time between them but not less than annually statements of all transfers to or from the Accounts and statements of all holdings in the Accounts as of the last Business Day of each month.
Each of the Security Provider, the Secured Party and (for the purposes of the delivery of the Enforcement Notice) the Funding 2 Security Trustee, shall ensure that their respective Authorised Persons treat applicable user and authorisation codes, passwords and authentication keys with due care.