The Security Trustee shall Sample Clauses

The Security Trustee shall. (a) except as provided in this Deed, in granting any consent, approval or waiver or exercising any right, remedy, power, trust, authority or discretion vested in it by this Deed or any of the Security Documents, act in accordance with any lawful instructions of the Beneficiaries (as more particularly set out in Clause 2.2 above) or, if so instructed by the Beneficiaries (as more particularly set out in Clause 2.2 above) refrain from granting any such consent, approval or waiver or exercising any such right, remedy, power, trust, authority or discretion (provided that, in any case where under this Deed or any Security Document, the Security Trustee is required to do some act only if some persons other than the Beneficiaries so agree, consent, instruct or approve, the Security Trustee shall act in accordance with any lawful instructions from those persons or, if so instructed by those persons, shall refrain from doing that act) and, in any such case, the Security Trustee shall be in no way responsible for, or liable to any Beneficiary for, any loss, liability, costs, damages or expenses which may result from the Security Trustee acting or refraining from acting in accordance with any such instructions save in the case of its own gross negligence or wilful default, or its breach of this Deed or any of the Security Documents; and
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The Security Trustee shall. (a) promptly inform each Finance Party of the contents of any notice or document received by it in its capacity as Security Trustee hereunder or under any other Security Document;
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Related to The Security Trustee shall

  • The Security Trustee The Security Trustee has agreed to become a party to this Agreement for the better preservation and enforcement of its rights under this Agreement but shall have no responsibility for any of the obligations of, nor assume any liabilities to, the Cash Manager, the Account Banks, the Mortgages Trustee or Funding hereunder.

  • Security Trustee SIGNED by ) for and on behalf of ) THE BANK OF NEW YORK )

  • CONCERNING THE TRUSTEE AND THE SECURITIES ADMINISTRATOR Section 8.1

  • Concerning the Trustee and the Securities Administrator Events of Default SECTION 6.01 Duties of Trustee and the Securities Administrator.

  • Collateral Trustee (a) The Collateral Trustee will hold (directly or through co-trustees or agents) and, subject to the terms of the Intercreditor Agreement, will be entitled to enforce all Liens on the Collateral created by the Security Documents.

  • Certain Matters Affecting the Trustee and the Securities Administrator Except as otherwise provided in Section 6.01:

  • Duties of Trustee and the Securities Administrator (a) The Trustee, except during the continuance of an Event of Default, and the Securities Administrator each undertake to perform their respective duties and only such duties as are specifically set forth in this Agreement. Any permissive right of the Trustee and the Securities Administrator provided for in this Agreement shall not be construed as a duty of the Trustee or the Securities Administrator, as the case may be. If an Event of Default has occurred and has not otherwise been cured or waived, the Trustee shall exercise such of the rights and powers vested in it by this Agreement and use the same degree of care and skill in their exercise as a prudent Person would exercise or use under the circumstances in the conduct of such Person’s own affairs.

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