Security Trustee Agreement definition
Examples of Security Trustee Agreement in a sentence
The headings of Sections and subsections of this Security Trustee Agreement are for convenience only and shall not affect the meaning of this Security Trustee Agreement.
Neither the execution and delivery by the Security Trustee of this Security Trustee Agreement or any other Operative Document nor the consummation by the Security Trustee of any of the transactions contemplated hereby or thereby requires or will require the consent or approval of or the giving of notice to, the registration with, or the taking of any other action in respect of, any federal or governmental authority or agency governing its banking or trust powers.
No amendment or waiver of any provision of this Security Trustee Agreement shall in any event be effective unless the same shall be in writing and signed by the Required Beneficiaries and the Security Trustee and, in the case of any amendment or waiver of Section 10, acknowledged by the Obligor, and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.
The parties may sign this Security Trustee Agreement in any number of counterparts and on separate counterparts, each of which shall be an original but all of which together shall constitute one and the same instrument.
Except as otherwise expressly provided herein, the parties' obligations under this Security Trustee Agreement shall terminate upon the release of the Lien of the Mortgage.