Examples of Facility Security Trustee in a sentence
The Facility Security Trustee agrees and declares, and each of the other Facility Beneficiaries acknowledges, that, subject to the terms and conditions of this clause 15.3, the Facility Security Trustee holds the Secured Property on trust for the Facility Beneficiaries absolutely.
For the purposes of this clause, the Facility Security Trustee shall be entitled to rely on any instruction from the Facility Agent on behalf of the relevant Facility Lenders and it will not be liable for acting or refraining from acting in the absence of such instructions.
The Facility Security Trustee shall be entitled to accept without enquiry, and shall not be obliged to investigate, any right and title that any of the Security Parties have to any of the Secured Property and shall not be liable for or bound to require any Security Party to remedy any defect in its right or title.
The Facility Agent and/or the GIEK Agent may, without any liability to account to the Facility Lenders or the Facility Beneficiaries (in the case of the Facility Security Trustee), generally engage in any kind of banking or trust business with a Security Party or with a Security Party’s subsidiaries or associated companies or with a Facility Lender or the Facility Beneficiaries (in the case of the Facility Security Trustee) as if it were not the Facility Agent or, as the case may be, the GIEK Agent.
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Where the Facility Security Trustee is named on any insurance policy (including the Insurances) as an insured party and/or loss payee, the Facility Security Trustee shall not be responsible for any loss which may be suffered by reason of, directly or indirectly, its failure to notify the insurers of any material fact relating to the risk assumed by such insurers or any other information of any kind.
The Borrower shall pay to the Facility Security Trustee a trustee fee in the amount and at the times agreed in a Fee Letter.
The Original Equity Bridge Loan Agreement was fully repaid in 2010 and there are no outstanding obligations on ProjectCo or the current shareholders thereunder.Pursuant to a shareholders support agreement dated 15 December 2005 issued in favour of the Facility Security Trustee (the “Shareholders Support Agreement”), the Initial Shareholders had the obligation to subscribe and pay for ProjectHoldCo Shares and ProjectHoldCo Loan Stock.
The Facility Security Trustee agrees and declares, and each of the other Facility Beneficiaries acknowledges, that, subject to the terms and conditions of this clause 15.3, the Facility Security Trustee holds the Secured Property on trust for itself and the Facility Beneficiaries absolutely.
References in this Deed to the Facility Agent, the Technical Bank, the General Security Trustee, the Credit Security Trustee, the Facility Security Trustee, any Arranger or any Bank and references to all or any obligations and liabilities of any one or more of those persons shall be strictly construed as references to that person or (as the case may be) those obligations and liabilities of that person solely in its capacity as such.