Common use of Security Agent’s Actions Clause in Contracts

Security Agent’s Actions. Without prejudice to the provisions of Clause 13 (Enforcement of Transaction Security) and Clause 17.7 (Instructions to Security Agent and exercise of discretion), the Security Agent may (but shall not be obliged to), in the absence of any instructions to the contrary, take such action in the exercise of any of its powers and duties under the Debt Documents as it considers in its discretion to be appropriate. The Security Agent shall have all the rights, privileges and immunities which gratuitous trustees have or may have in England, even though it is entitled to remuneration.