Common use of Actions by Beneficiaries Clause in Contracts

Actions by Beneficiaries. (a) Wherever in this Agreement a provision is made that an action may be taken or a notice, demand or instruction given by an Investor Beneficiary, such action notice or instruction may be taken or given by any person directed by the Investor Beneficiaries, and any such action, notice, demand or instruction shall be deemed to be effective, if taken or given by such agent (if so appointed and directed) for all purposes as if the same had been taken or given by the Investor Beneficiaries. For the avoidance of doubt, such person may include the Receivables Trustee acting in its capacity as trustee of the Receivables Trust. (b) Any request, demand, authorisation, direction, notice, consent, waiver or other act by a Beneficiary shall bind each and every successor of such Beneficiary.

Actions by Beneficiaries. (a) 5.10.1 Wherever in this Agreement a provision is made provides that an action may be taken or a notice, demand or instruction given by an Investor Beneficiary, such action notice action, notice, demand or instruction may be taken or given by any person directed by the Investor Beneficiaries, and any such action, notice, demand or instruction shall be deemed to be effective, if taken or given by such agent (if so appointed and directed) for all purposes as if the same had been taken or given by the Investor Beneficiaries. For the avoidance of doubt, such person may include the Receivables Trustee acting in its capacity as trustee of the Receivables Trust. (b) 5.10.2 Any request, demand, authorisation, direction, notice, consent, waiver or other act by a Beneficiary shall bind each and every successor of such Beneficiary.