The Security Agents as Trustee Clause Samples

The Security Agents as Trustee. (a) Each other Secured Party appoints the Offshore Security Agent and the Onshore (Gabon) Security Agent to act as its agent under and in connection with the Finance Documents including as “Agent des Sûretés” in relation to all Transaction Security Documents subject to Gabonese law in accordance with the Onshore Security Agent (Gabon) Appointment Agreement, and the Offshore Security Agent declares that it holds the Security Property on trust for the Secured Parties on the terms contained in this Agreement. (b) Each of the other Secured Parties authorises the Security Agent to perform the duties, obligations and responsibilities and to exercise the rights, powers, authorities and discretions specifically given to the Security Agent (whether under this Agreement or under the Onshore Security Agent (Gabon) Appointment Agreement) under or in connection with the Finance Documents together with any other incidental rights, powers, authorities and discretions. (c) Each of the other Secured Parties authorises the Offshore Security Agent to enter into the Swedish Security Documents on its behalf and to act as its authorised representative and to exercise (in its name and on its behalf) its rights as pledgee under the Swedish Security Documents as well as any other rights which a pledgee may have under Swedish law to enforce the pledges granted pursuant to the Swedish Security Documents, in accordance with the provisions of this Agreement, any Acceptable Intercreditor Agreement (as applicable) and the Swedish Security Documents. (d) The terms and conditions under which the Onshore (Gabon) Security Agent is appointed in such capacity, and accepts such appointment, are governed by the Onshore Security Agent Appointment Agreement. In the event of discrepancy between this Agreement and the Onshore Security Agent (Gabon) Appointment Agreement, the latter shall prevail.