Common use of The Security Trustee Clause in Contracts

The Security Trustee. The Security Trustee has agreed to become a party to this Agreement for the purpose of taking the benefit of contractual provisions expressed to be given in its favour enabling better preservation and enforcement of its rights under the Deed of Charge. The Security Trustee shall not assume any liabilities or obligations under this Agreement. The Security Trustee shall not have any duty to monitor or supervise the performance by the Corporate Services Provider of its duties and obligations under this Agreement or any other Transaction Document (and the Security Trustee shall be entitled to assume that the Corporate Services Provider is performing its duties and obligations thereunder until it has actual knowledge to the contrary) nor shall the Security Trustee be in any way liable for any Liability suffered by any party hereto or any other party resulting from the acts or omissions of the Corporate Services Provider or any of its agents, sub-contractors, representatives or delegates in the discharge of any of the duties and obligations the Corporate Services Provider is obliged to perform as the agent of, among others, the Security Trustee. Subject to Clause 6.7, all the provisions of the Deed of Charge and the Trust Deed relating to the exercise by the Security Trustee of its powers, trusts, authorities, duties, rights and discretions shall apply, mutatis mutandis, to the discharge by the Security Trustee of its powers, trusts, authorities, duties, rights and discretions under this Agreement.

The Security Trustee. The Security Trustee has agreed to become a party to this Agreement for the purpose of taking the benefit of contractual provisions expressed to be given in its favour enabling better preservation and enforcement of its rights under the Deed of Charge. The Security Trustee shall not assume any liabilities or obligations under this Agreement. The Security Trustee shall not have any duty to monitor or supervise the performance by the Corporate Services Provider of its duties and obligations under this Agreement or any other Transaction Document (and the Security Trustee shall be entitled to assume that the Corporate Services Provider is performing its duties and obligations thereunder until it has actual knowledge to the contrary) nor shall the Security Trustee be in any way liable for any Liability suffered by any party hereto or any other party resulting from the acts or omissions of the Corporate Services Provider or any of its agents, sub-contractors, representatives or delegates in the discharge of any of the duties and obligations the Corporate Services Provider is obliged to perform as the agent of, among others, the Security Trustee. Subject to Clause 6.76.7 (Nomination of Directors After Service of a Note Acceleration Notice), all the provisions of the Deed of Charge and the Trust Deed relating to the exercise by the Security Trustee of its powers, trusts, authorities, duties, rights and discretions shall apply, mutatis mutandis, to the discharge by the Security Trustee of its powers, trusts, authorities, duties, rights and discretions under this Agreement.