Common use of Authorised Representative Clause in Contracts

Authorised Representative. The initial Authorised Representative may be specified in the Additional Conditions. If so specified, such Authorised Representative will at all times act for and on behalf of the Noteholders and may be replaced, subject to the completion by the Issuer, the Swap Counterparty and the other Transaction Counterparties of all relevant KYC Checks and account opening procedures in respect of such replacement, by Extraordinary Resolution or the direction in writing to the Issuer and each Transaction Counterparty of a 100% Noteholder. The identity of the Authorised Representative at any time may be obtained by written request to the Issuer at such time. The Issuer and each Transaction Counterparty shall have no liability to any person for acting on the instructions of any person that they in good faith believe to be the Authorised Representative. If at any time, the Authorised Representative (or any replacement Authorised Representative) ceases to satisfy any of the relevant KYC Requirements of the Issuer, the Swap Counterparty and the other Transaction Counterparties, the appointment of such Authorised Representative shall cease with immediate effect. Notice of any such change in the Authorised Representative will, as soon as reasonably practicable, be given to the Noteholders and the Transaction Counterparties.