Appointment of the Security Trustee. The Security Trustee agrees to act as trustee for the Secured Parties upon the terms hereinafter contained.
Appointment of the Security Trustee. (a) Each other Finance Party irrevocably appoints and authorizes the Security Trustee to act as security trustee hereunder and under the other Finance Documents (other than the Notes) with such powers as are specifically delegated to the Security Trustee by the terms of this Agreement and such other Finance Documents, together with such other powers as are reasonably incidental thereto.
(b) To secure the payment of all sums of money from time to time owing to the Finance Parties under this Agreement, the other Finance Documents plus accrued interest thereon and all other amounts owing to the Finance Parties pursuant to this Agreement, the other Finance Documents, and the performance of the covenants of the Borrower and any other Obligor herein and therein contained, and in consideration of the premises and of the covenants herein contained and of the extensions of credit by the DIP Lenders, the Security Trustee does hereby declare that it will hold as such trustee in trust for the benefit of the other Finance Parties, from and after the execution and delivery thereof, all of the Trust Property; TO HAVE AND TO HOLD the Trust Property unto the Security Trustee and its successors and assigns forever BUT IN TRUST, NEVERTHELESS, for the equal and proportionate benefit and security of the DIP Lenders and the DIP Agent and their respective successors and assigns without any priority of any one over any other (except as provided in Clause 33.5 (Partial payments) of this Agreement), UPON THE CONDITION that, unless and until an Event of Default under this Agreement shall have occurred and be continuing, each of the Obligors shall be permitted, to the exclusion of the Security Trustee, to possess and use the Ships. IT IS HEREBY COVENANTED, DECLARED AND AGREED that all property subject or to become subject hereto is to be held, subject to the further covenants, conditions, uses and trusts hereinafter set forth, and each Obligor, for itself and its respective successors and assigns, hereby covenants and agrees to and with the Security Trustee and its successors in said trust, for the equal and proportionate benefit and security of the other Finance Parties as hereinafter set forth.
Appointment of the Security Trustee. 27.17.1 Each Finance Party (except the Security Trustee) appoints the Security Trustee (which accepts such appointment) as its trustee to hold the Security Documents and all rights, powers and benefits, and the proceeds of realisation thereunder in trust for the benefit of the Finance Parties according to their respective entitlements under this Agreement and the other Finance Documents, with the right and power to exercise the rights, powers, authorities and discretions conferred on the Security Trustee under the Security Documents and the other Finance Documents, together with any other incidental rights, powers, authorities and discretions, as if it were beneficially entitled thereto in its own right.
27.17.2 The provisions of Clause 15.3, Clause 17 and Clauses 27.5 to 27.12 (inclusive) and Clause 27.11 shall apply mutatis mutandis to the Security Trustee as if reference to the "Agent" were references also to the Security Trustee, except that the Security Trustee's resignation or removal shall not take effect until all necessary documents have been entered into to substitute its successor as holder of the Security Documents under the trust hereby constituted.
Appointment of the Security Trustee. Each other Finance Party irrevocably appoints and authorizes the Security Trustee to act as security trustee hereunder and under the other Finance Documents (other than the Notes) with such powers as are specifically delegated to the Security Trustee by the terms of this Agreement and such other Finance Documents, together with such other powers as are reasonably incidental thereto.
Appointment of the Security Trustee. 2.1 The Security Trustee agrees to act as trustee for the Secured Creditors upon the terms hereinafter contained.
2.2 The CBC and the Security Trustee undertake to enter into the Parallel Debt Agreement for the benefit of the Secured Creditors.
2.3 When exercising its duties as trustee the Security Trustee shall act in the best interests of each of the Secured Creditors taking into account the provisions of this Trust Deed.
2.4 The Security Trustee hereby declares that it has taken cognisance of the provisions of the Agency Agreement and of the Terms and Conditions and that it will be bound by such provisions and the Terms and Conditions. The Security Trustee agrees to act for the benefit of the Covered Bondholders and the other Secured Creditors, in accordance with and subject to the terms of this Trust Deed. The Security Trustee will have the rights granted to and accepted by it in this Trust Deed, the Agency Agreement, the Terms and Conditions and any of the other Transaction Documents to which it is a party.
2.5 By no later than three o'clock in the afternoon (3.00 p.m.) (Central European Time) on the second (2nd) Business Day preceding each proposed Issue Date, the Issuer shall:
(a) deliver or cause to be delivered to the Security Trustee a copy of the applicable (draft) Final Terms; and
(b) notify the Security Trustee in writing without delay of the Issue Date and the principal amount of the Covered Bonds of the relevant Tranche.
Appointment of the Security Trustee. The terms and basis on which the Security Trustee has been appointed by the Lenders as security trustee are set out in each Proceeds Deed including, amongst other things the manner in which any decision to exercise any right, power, discretion or authority to carry out any duty are to be made between the Lenders and the Security Trustee.
Appointment of the Security Trustee. Each of the other Banks hereby appoints the Security Trustee to act for and on its behalf as its trustee in connection with this Agreement and the other Security Documents and authorises the Security Trustee to execute each Security and exercise such rights, powers and discretion as are specifically delegated to it by the terms thereof together with such rights, powers and discretions as are reasonably incidental thereto.
Appointment of the Security Trustee. (a) Each of the Lender and the Hedging Bank appoints the Security Trustee to act as its security trustee for the purpose of the Security Documents, including as mortgagee under the Mortgages, and the Security Trustee hereby accepts such appointment for such purpose.
(b) Each of the Lender and the Hedging Bank authorises the Security Trustee to exercise the rights, powers, authorities and discretions specifically given to the Security Trustee under or in connection with the Finance Documents together with any other incidental rights, powers, authorities and discretions.
Appointment of the Security Trustee. 2.1 Each of the parties hereto appoints the Security Trustee as trustee (Treuhander) and administrator for the purpose of holding on trust (Treuhand) and accepting and administering the Security for and on behalf of Beneficiaries.
2.2 The Security Trustee accepts its appointment as a trustee (Treuhander), agent and administrator of the Security on the terms and subject to the conditions set out in this Agreement.
Appointment of the Security Trustee. (i) The UK Secured Parties appoint the Administrative Agent to hold the security interests constituted by the UK Security Agreement on trust for the UK Secured Parties on the terms of the Loan Documents and the Administrative Agent accepts that appointment.
(ii) The Administrative Agent, its subsidiaries and associated companies may each retain for its own account and benefit any fee, remuneration and profits paid to it in connection with (1) its activities under the Loan Documents; and (2) its engagement in any kind of banking or other business with any Loan Party.
