Common use of Additional trustees Clause in Contracts

Additional trustees. 27.3.1 The Agent may, upon giving prior notice to a Borrower, appoint any person established or resident in any jurisdiction (whether a trust corporation or not) to act either as a separate trustee or as a co-trustee jointly with the Agent if the Agent considers such appointment to be in the interests of the Finance Parties. 27.3.2 Each of the Finance Parties irrevocably authorises the Agent to execute any such instrument of appointment on its behalf. Any such additional trustee shall have such trusts, powers, obligations, authorities and discretions (not exceeding those conferred on the Agent by the Finance Documents) and remuneration as shall be conferred or imposed by the instrument of appointment. The Agent shall have power in like manner to remove any such person. The Borrowers shall indemnify such additional trustee as though it were the Agent in accordance with this Clause 27.