Common use of Security Agent as trustee Clause in Contracts

Security Agent as trustee. (a) The Security Agent in its capacity as trustee or otherwise under the 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 Company may have to any asset secured by the 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 Security Agent may permit any member of the Group to retain any Finance Document or other document in its possession. (b) Save as otherwise provided in the Finance Documents, all moneys which under the trusts contained in the Finance Documents are received by an Agent in its capacity as trustee or otherwise may be invested in the name of or under the control of that 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 that Agent. Additionally, the same may be placed on deposit in the name of or under the control of that Agent at such bank or institution (including that Agent) and upon such terms as that Agent may think fit.