Examples of Borrower Security Trustee in a sentence
The Borrower Security Trustee will have the right (on the instructions of Qualifying Borrower Secured Creditors holding at least 10 per cent.
Nothing in the Finance Documents makes an Administrative Party (other than the Borrower Security Trustee) a trustee or fiduciary for any other Party or any other person.
Under the Security Agreement, each Obligor guarantees the obligations of each other Obligor under the Finance Documents, in each case to the Borrower Security Trustee for itself and as security trustee for the Borrower Secured Creditors.
In providing its consent or making a determination hereunder the Borrower Security Trustee shall take instructions from the Borrower Secured Creditors to the extent required or permitted and in each case in the manner set out in the STID.
No Obligor may compromise or settle any claim, litigation or arbitration without prior notification to the Borrower Security Trustee if any such compromise or settlement would be reasonably likely to have a Material Adverse Effect.
In respect of each Loan Event of Default requiring any action or discretion on the part of the relevant creditor, the Borrower Security Trustee will act in accordance with the relevant provisions of the STID.
The occurrence of a Trigger Event referred to in Paragraph 8 (Loan Event of Default) of Part 1 (Trigger Events) of this Schedule 3 will be remedied if the Loan Event of Default is waived in accordance with the STID or is remedied to the reasonable satisfaction of the Borrower Security Trustee.
Any proceeds of enforcement of the OFCA Floating Security will be paid to the Issuer and will be taken into account by the Borrower Security Trustee in ensuring that the Issuer recovers no more than its pro rata proportion of the aggregate proceeds of enforcement of all Borrower Security.
No Obligor may, without the prior written consent of the Borrower Security Trustee, consent to any material amendment to, waive any material provision of, or terminate the Cross-Licensing Agreement (other than pursuant to clause 4.2 thereof) or a Hardware Lease (other than pursuant to clause 7.1 thereof) to which it is a party.
No Administrative Party (other than the Borrower Security Trustee and the Borrower Account Bank) need hold in trust any moneys paid to it for a Party or be liable to account for interest on those moneys.