Exercise of Discretion. Any reference in this Agreement to any discretion, power or right on the part of the Mortgages Trustee shall be as exercised by the Mortgages Trustee only as directed by the Beneficiaries but subject in each case to the provisions of the Mortgages Trust Deed.
Appears in 14 contracts
Samples: Administration Agreement (Granite Mortgages 03-3 PLC), Administration Agreement (Granite Mortgages 03-1 PLC), Administration Agreement (Granite Mortgages 04-3 PLC)