Common use of The Security Trustee Clause in Contracts

The Security Trustee. 14.1 If there is any change in the identity of the Security Trustee or any additional Security Trustee is appointed in accordance with the Deed of Charge, the parties to this Agreement shall execute such documents and take such action as such successor Security Trustee or additional Security Trustee and the outgoing Security Trustee may reasonably require for the purpose of vesting in such successor Security Trustee or additional Security Trustee the rights and powers of the outgoing Security Trustee under this Agreement and releasing the outgoing Security Trustee from any future obligations under this Agreement. 14.2 The Security Trustee has agreed to become a party to this Agreement to receive the benefit of certain provisions in this Agreement and for the better preservation and enforcement of its rights under this Agreement but shall not assume any obligations or liabilities to, the Issuer, the Cash Manager, the GIC Provider or any other party hereunder. Any liberty or right which may be exercised or any determination which may be made under this Agreement by the Security Trustee may be exercised or made in the Security Trustee's absolute discretion without any obligation to give reasons therefor and the Security Trustee shall not be responsible for any liability occasioned by so acting but subject always to the terms of the Deed of Charge. 14.3 The Security Trustee shall not have any duty to monitor or supervise the performance by the GIC 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 GIC 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 GIC Provider or any of its agents, sub-contractors, representatives or delegates in the discharge of any of the duties and obligations the GIC Provider is obliged to perform as the agent of, among others, the Security Trustee. 14.4 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. 14.5 For the avoidance of doubt, and without prejudice to the obligations of the Issuer, neither the Security Trustee nor any Receiver appointed pursuant to the Deed of Charge shall be liable to pay any amounts that may become due under this Agreement.

The Security Trustee. ‌ 14.1 If there is any change in the identity of the Security Trustee or any additional Security Trustee is appointed in accordance with the Deed of Charge, the parties to this Agreement shall execute such documents and take such action as such successor Security Trustee or additional Security Trustee and the outgoing Security Trustee may reasonably require for the purpose of vesting in such successor Security Trustee or additional Security Trustee the rights and powers of the outgoing Security Trustee under this Agreement and releasing the outgoing Security Trustee from any future obligations under this Agreement. 14.2 The Security Trustee has agreed to become a party to this Agreement to receive the benefit of certain provisions in this Agreement and for the better preservation and enforcement of its rights under this Agreement but shall not assume any obligations or liabilities to, the Issuer, the Cash Manager, the GIC Provider or any other party hereunder. Any liberty or right which may be exercised or any determination which may be made under this Agreement by the Security Trustee may be exercised or made in the Security Trustee's absolute discretion without any obligation to give reasons therefor and the Security Trustee shall not be responsible for any liability occasioned by so acting but subject always to the terms of the Deed of Charge. 14.3 The Security Trustee shall not have any duty to monitor or supervise the performance by the GIC 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 GIC 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 GIC Provider or any of its agents, sub-contractors, representatives or delegates in the discharge of any of the duties and obligations the GIC Provider is obliged to perform as the agent of, among others, the Security Trustee. 14.4 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. 14.5 For the avoidance of doubt, and without prejudice to the obligations of the Issuer, neither the Security Trustee nor any Receiver appointed pursuant to the Deed of Charge shall be liable to pay any amounts that may become due under this Agreement.

The Security Trustee. 14.1 If there is any change in the identity of the Security Trustee or any additional Security Trustee is appointed in accordance with the Deed of Charge, the parties to this Agreement shall execute such exec ute suc h documents and take such action as such successor Security Trustee or additional Security Sec urity Trustee and the outgoing Security Trustee may reasonably require for the purpose of vesting in such successor Security Trustee or additional Security Trustee the rights and powers of the outgoing Security Trustee under this Agreement and releasing the outgoing Security Trustee from any future obligations under this Agreement. 14.2 The Security Trustee has agreed to become a party to this Agreement to receive the benefit of certain provisions in this Agreement and for the better preservation and enforcement of its rights under this Agreement but shall not assume any obligations or liabilities to, the Issuer, the Cash Manager, the GIC Provider or any other party hereunder. Any liberty or right which may be exercised or any determination which may be made under this Agreement by the Security Trustee may be exercised exerc ised or made in the Security Trustee's absolute discretion without any obligation to give reasons therefor and the Security Trustee shall not be responsible for any liability occasioned by so acting but subject always to the terms of the Deed of Charge. 14.3 The Security Trustee shall not have any duty to monitor or supervise the performance by the GIC 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 GIC 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 GIC Provider or any of its agents, sub-contractors, representatives or delegates in the discharge of any of the duties and obligations the GIC Provider is obliged to perform as the agent of, among others, the Security Trustee. 14.4 All the provisions of the Deed of Charge and the Trust Deed relating to the exercise by the Security Sec urity 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. 14.5 For the avoidance of doubt, and without prejudice to the obligations of the Issuer, neither the Security Trustee nor any Receiver appointed pursuant to the Deed of Charge shall be liable to pay any amounts that may become due under this Agreement.