Common use of Role of the Security Agent Clause in Contracts

Role of the Security Agent. The Security Agent shall hold or as the case may be administer the Security Interests created under the Security Documents to which it is party as agent and security trustee for its own and the Finance Parties’ benefit, shall apply all payments and other benefits received by reason thereof, or otherwise realised thereunder and shall have the rights, duties, remedies and exonerations, in each case as provided in the Security Trust Agreement.

Role of the Security Agent. (a) The Security Agent shall is hereby appointed by the Finance Parties to hold or as on trust the case may be administer the Security Interests created under benefit of the Security Documents to which it is party as agent and security trustee for its own itself and the Finance Parties’ benefit, shall Parties and to apply all payments and other benefits received by it by reason thereof, or otherwise realised thereunder and shall have the rights, duties, remedies and exonerationsthereunder, in each case as provided in accordance with this Agreement and the Intercreditor Deed. In the event that the court of any relevant jurisdiction does not recognise or give effect to the trust expressed to be created by this Agreement, the relationship of the Finance Parties and the Security Trust AgreementAgent shall be construed as one of principal and agent.

Role of the Security Agent. The Security Agent shall hold or as the case may be administer the Security Interests created under manage the Security Documents to which it is party as agent (and security trustee where appropriate hold the benefit of the Security Documents on trust) for its own itself and the other Finance Parties’ benefit, shall Parties and will apply all payments and other benefits received by reason thereof, or otherwise realised thereunder and shall have the rights, duties, remedies and exonerations, in each case as provided in it under the Security Trust AgreementDocuments in accordance with the provisions of the Intercreditor Deed.

Role of the Security Agent. The Security Agent shall hold or as the case may be administer the Security Interests created under benefit of the Security Documents to which it is party as agent and security trustee for its own itself and the Senior Finance Parties’ benefit, shall Parties to apply all payments and other benefits received by it by reason thereof, or otherwise realised thereunder and shall have the rights, duties, remedies and exonerationsthereunder, in each case as provided in the Security Trust accordance with this Agreement.

Role of the Security Agent. The Security Agent shall hold or as the case may be administer the Security Interests created under benefit of the Security Documents to which it is party as agent and security trustee on trust for its own itself and the other Finance Parties’ benefit, shall Parties and will apply all payments and other benefits received by reason thereof, or otherwise realised thereunder and shall have the rights, duties, remedies and exonerations, in each case as provided in it under the Security Trust AgreementDocuments in accordance with the provisions of the Finance Documents.