Common use of ASSUMPTION OF DUE PERFORMANCE Clause in Contracts

ASSUMPTION OF DUE PERFORMANCE. The Security Trustee shall not be bound to take any steps to ascertain whether any event, condition or act, the happening of which would cause a right or remedy to become exercisable by the Security Trustee under this Deed and any relevant Loan Note Supplement has happened or to monitor or supervise the observance and performance by the Loan Note Issuer or any of the other parties to any of the Transaction Documents of their respective obligations thereunder and, until it shall have actual knowledge to the contrary, the Security Trustee shall be entitled to assume that no such event, condition or act has happened and that the Loan Note Issuer and each of the other parties thereto are observing and performing all their respective obligations thereunder.

ASSUMPTION OF DUE PERFORMANCE. The Security Trustee shall not be bound to take any steps to ascertain whether any event, condition or act, the happening of which would cause a right or remedy to become exercisable by the Security Trustee under this Deed and any relevant Loan Note Supplement Supplement, has happened or to monitor or supervise the observance and performance by the Loan Note Issuer or any of the other parties to any of the Transaction Documents this Deed, any Loan Note Supplement, any other Series Document and any Relevant Document of their respective obligations thereunder and, until it shall have actual knowledge to the contrary, the Security Trustee shall be entitled to assume that no such event, condition or act has happened and that the Loan Note Issuer and each of the other parties thereto are observing and performing all their respective obligations thereunder.

ASSUMPTION OF DUE PERFORMANCE. The Security Trustee shall not be bound to take any steps to ascertain whether any event, condition or act, the happening of which would cause a right or remedy to become exercisable by the Security Trustee under this Security Trust Deed and any relevant Loan Note Supplement has happened or to monitor or supervise the observance and performance by the Loan Note Issuer or any of the other parties to any of the Transaction Documents of their respective obligations thereunder and, until it shall have actual knowledge to the contrary, the Security Trustee shall be entitled to assume that no such event, condition or act has happened and that the Loan Note Issuer and each of the other parties thereto are observing and performing all their respective obligations thereunder.