Common use of SECURITY TRUSTEE Clause in Contracts

SECURITY TRUSTEE. 22.1 Upon receipt of a notice from the Security Trustee, the Servicer shall be required to act thereafter as the Servicer of the Security Trustee in relation to payments to be made by or on behalf of the Security Trustee under the provisions of the Trust Deed, mutatis mutandis, on the terms provided in this Agreement (save that the Security Trustee's liability under any provision hereof for the indemnification of the Servicer shall be limited to the amount for the time being received or recovered by the Security Trustee under the Pledge Agreements subject to the priorities of payments set forth in Clauses 13 and 14 of the Trust Deed) and acting as such the Servicer shall have due regard to the interests of the Secured Parties.

SECURITY TRUSTEE. 22.1 21.1 Upon receipt of a notice from the Security Trustee, the Servicer shall be required to act thereafter as the Servicer of the Security Trustee in relation to payments to be made by or on behalf of the Security Trustee under the provisions of the Trust Deed, mutatis mutandis, on the terms provided in this Agreement (save that the Security Trustee's liability under any provision hereof for the indemnification of the Servicer shall be limited to the amount for the time being received or recovered by the Security Trustee under the Pledge Agreements subject to the priorities of payments set forth in Clauses Clause 13 and 14 of the Trust Deed) and acting as such the Servicer shall have due regard to the interests of the Secured Parties.

SECURITY TRUSTEE. 22.1 21.1 Upon receipt of a notice from the Security Trustee, the Servicer shall be required to act thereafter as the Servicer of the Security Trustee in relation to payments to be made by or on behalf of the Security Trustee under the provisions of the Trust Deed, mutatis mutandis, on the terms provided in this Agreement (save that the Security Trustee's liability under any provision hereof for the indemnification of the Servicer shall be limited to the amount for the time being received or recovered by the Security Trustee under the Pledge Agreements subject to the priorities of payments set forth in Clauses 13 and 14 of the Trust Deed) and acting as such the Servicer shall have due regard to the interests of the Secured Parties.

SECURITY TRUSTEE. 22.1 21.1 Upon receipt of a notice from the Security Trustee, the Servicer shall be required to act thereafter as the Servicer of the Security Trustee in relation to payments to be made by or on behalf of the Security Trustee under the provisions of the Trust Deed, mutatis mutandis, on the terms provided in this Agreement (save that the Security Trustee's liability under any provision hereof for the indemnification of the Servicer shall be limited to the amount for the time being received or recovered by the Security Trustee under the Pledge Agreements subject to the priorities of payments set forth in Clauses clause 13 and 14 of the Trust Deed) and acting as such the Servicer shall have due regard to the interests of the Secured Parties.

SECURITY TRUSTEE. 22.1 Upon receipt of a notice from the Security Trustee, the Servicer shall be required to act thereafter as the Servicer of the Security Trustee in relation to payments to be made by or on behalf of the Security Trustee under the provisions of the Trust Deed, mutatis mutandis, on the terms provided in this Agreement (save that the Security Trustee's liability under any provision hereof for the indemnification of the Servicer shall be limited to the amount for the time being received or recovered by the Security Trustee under the Pledge Agreements subject to the priorities of payments set forth in Clauses Clause 13 and 14 of the Trust Deed) and acting as such the Servicer shall have due regard to the interests of the Secured Parties.