Agent as Trustee Clause Samples
Agent as Trustee. (a) The Agent in its capacity as trustee or otherwise shall not be liable for any failure, omission, or defect in perfecting the security constituted by the Securities.
(b) The Agent in its capacity as trustee or otherwise may accept without enquiry such title as an Obligor may have to the property over which security is intended to be created by the Securities.
(c) Each Bank hereby confirms its approval of the Transaction Documents and any security created pursuant thereto and hereby authorises, empowers and directs the Agent (by itself or by such person(s) as it may nominate) to execute and enforce the same as trustee or as otherwise provided (and whether or not expressly in the Banks' names) on its behalf.
Agent as Trustee. (a) If the Agent enters into this Agreement as trustee of a Trust, then this clause 34.14 applies.
(b) The Agent and the Directors acknowledge that the Agent enters into this Agreement both in its individual capacity and in its capacity as trustee of the Trust. All agreements, warranties and obligations of the Agent in this Agreement bind the Agent in its individual capacity and in its capacity as trustee of the Trust.
(c) The Agent represents and warrants that the entry into this Agreement is not a breach of the terms of the trust deed of the Trust and that the Agent has entered into this Agreement for the benefit of the Trust’s beneficiaries.
(d) The Agent must obtain the Bank’s consent in writing before ceasing to be trustee of the Trust or allowing anyone else to be appointed as trustee.
(e) The Agent must obtain the Bank's consent in writing to any change in unitholders if the trust is a unit trust.
Agent as Trustee. (a) The Agent in its capacity as trustee or otherwise under the Security Documents:
(i) is not liable for any failure, omission or defect in perfecting or registering the security purported to be created or evidenced by any Finance Document;
(ii) may accept without enquiry such title as any Obligor may have to any asset over which security is purported to be created or evidenced by any Security Document;
(iii) is not under any obligation to hold any Finance Document or any other document in connection with the Finance Documents or any assets referred to in paragraph (ii) above (including, without limitation, any title deeds) in its own possession or to take any steps to protect or preserve the same; and
(iv) may permit any Obligor to retain any Finance Document or other document in its possession. -------------------------------------------------------------------------------- --------------------------------------------------------------------------------
(b) Except as otherwise provided in the Finance Documents, all moneys which under the trusts contained in the Finance Documents are received by the Agent in its capacity as trustee or otherwise may be invested in the name of or under the control of the Agent in any investment authorised by English law for the investment by trustees of trust money or in any other investments which may be selected by the Agent. Additionally, the same may be placed on deposit in the name of or under control of the Agent at such bank or institution (including the Agent) and upon such terms as the Agent may think fit.
Agent as Trustee. (a) The Agent in its capacity as trustee or otherwise under a Debenture:-
(i) is not liable for any failure, omission or defect in perfecting or registering the security constituted or created by any Finance Document; (ii) may accept without enquiry such title as the relevant Obligor may have to any asset secured by a Debenture; and (iii) is not under any obligation to hold any Finance Document or any other document in connection with the Finance Documents or the assets secured by any Finance Document (including title deeds) in its own possession or to take any steps to protect or preserve the same. The Agent may permit any member of the Group to retain any Finance Document or other document in its possession.
Agent as Trustee. (a) Each of the Facility Agent and the US Security Agent in its capacity as trustee or otherwise under the Security Documents:
(i) is not liable for any failure, omission or defect in perfecting or registering the security constituted or created by any Finance Document;
(ii) may accept without enquiry such title as any Obligor may have to any asset secured by any Security Document;
(iii) is not under any obligation to hold any Transaction Document or any other document in connection with the Finance Documents or the assets secured by any Finance Document (including title deeds) in its own possession or to take any steps to protect or preserve the same; and 77
(iv) the Facility Agent may permit any Obligor to retain any Transaction Document or other document in its possession.
(b) Except as otherwise provided in the Finance Documents, all moneys which under the trusts contained in the Finance Documents are received by the Facility Agent or the US Security Agent in its capacity as trustee or otherwise may be invested in the name of or under the control of the Agent in question in any investment authorised by English law for the investment by trustees of trust money or in any other investments which may be selected by that Agent. Additionally, the same may be placed on deposit in the name of or under the control of the relevant Agent at such bank or institution (including any of the Agents) and upon such terms as the Agent in question may think fit.