Common use of Appointed Representatives Clause in Contracts

Appointed Representatives. (a) If the Security Trustee has issued a Step-in Notice in accordance with clauses 6.1 and 6.2, the appointment of a Representative within paragraphs (a) to (c) of the definition of Representative will be effective for all purposes under this Deed, and the Crown will not be entitled to challenge or dispute the effectiveness of any such appointment. (b) Subject to paragraph (c) the Security Trustee shall not appoint a Representative within paragraph (d) of the definition of Representative unless it has obtained the prior written approval of the Crown, which approval may only be withheld if the Crown considers that the proposed Representative is an Unsuitable Third Party. (c) If, where paragraph (b) above applies: (i) the Crown notifies the Security Trustee within 5 Business Days after its receipt of a notice under clause 6.2 that the proposed Appointed Representative is an Unsuitable Third Party, the notice under clause 6.2 proposing that Appointed Representative will be deemed to be withdrawn; and (ii) If the Crown does not notify the Security Trustee within 5 Business Days after its receipt of a notice under clause 6.2 that the proposed Appointed Representative is an Unsuitable Third Party, the proposed Appointed Representative will be deemed not to be an Unsuitable Third Party for the purpose of clause 6.3(a).