Common use of Defects in Security Clause in Contracts

Defects in Security. The Trustee shall not be liable for any failure, omission or defect in perfecting, protecting or further assuring the Secured Property in respect of any Series or in respect of any assets over which it shall have been granted a security interest in respect of or in relation to this Deed including (without prejudice to the generality of the foregoing) any failure, omission or defect in registering or filing or procuring registration or filing of or otherwise protecting or perfecting the Secured Property in respect of any Series or in respect of any assets over which it shall have been granted a security interest in respect of or in relation to this Deed or the priority thereof or the right or title of any person in or to the assets comprised therein by registering under any applicable registration laws in any territory any notice or other entry prescribed by or pursuant to the provisions of any such laws.