AUTHORISATION OR WAIVER OF BREACH. The Security Trustee may, without the consent of the Fourth Issuer Secured Creditors and without prejudice to its right in respect of any further or other breach, from time to time and at any time, but only if and in so far as in its opinion acting reasonably the interests of the Fourth Issuer Secured Creditors will not be materially prejudiced thereby authorise or waive, on such terms and conditions (if any) as shall seem expedient to it, any proposed or actual breach of any of the covenants or provisions contained in or arising pursuant to any of the Transaction Documents. Any such authorisation or waiver shall be binding on the Fourth Issuer Secured Creditors and, unless the Security Trustee otherwise agrees, notice thereof shall be given by the Fourth Issuer Cash Manager to the Fourth Issuer Secured Creditors as soon as practicable thereafter.
AUTHORISATION OR WAIVER OF BREACH. The Security Trustee may, without the consent of the Third Issuer Secured Creditors and without prejudice to its right in respect of any further or other breach, from time to time and at any time, but only if and in so far as in its opinion acting reasonably the interests of the Third Issuer Secured Creditors will not be materially prejudiced thereby authorise or waive, on such terms and conditions (if any) as shall seem expedient to it, any proposed or actual breach of any of the covenants or provisions contained in or arising pursuant to any of the Transaction Documents. Any such authorisation or waiver shall be binding on the Third Issuer Secured Creditors and, unless the Security Trustee otherwise agrees, notice thereof shall be given by the Third Issuer Cash Manager to the Third Issuer Secured Creditors as soon as practicable thereafter.
AUTHORISATION OR WAIVER OF BREACH. The Bond Trustee may, without the consent of the Secured Creditors and without prejudice to its right in respect of any further or other breach, from time to time and at any time, but only if and in so far as in its sole opinion the interests of any Covered Bondholders of any Series or the Covered Bond Swap Providers (provided that the relevant Swap Provider is not a member of the Scotiabank Group) will not be materially prejudiced thereby, authorise or waive, on such terms and conditions (if any) as will seem expedient to it, any proposed or actual breach of any of the covenants or provisions contained in this Agreement or any Transaction Document. Any such authorisation or waiver will be binding on the Secured Creditors and, unless the Bond Trustee otherwise agrees, notice thereof will be given by the Cash Manager to the Secured Creditors as soon as practicable thereafter.
AUTHORISATION OR WAIVER OF BREACH. Subject to the terms of the Master Intercompany Loan Agreement, the Security Trustee may, without the consent of the Funding 2 Secured Creditors, and without prejudice to its right in respect of any further or other breach, from time to time and at any time, (a) whilst any Loan Tranche remains outstanding under the Master Intercompany Loan Agreement, if it shall be directed to do so by the Master Issuer Security Trustee and (b) if there are no Loan Tranches outstanding under the Master Intercompany Loan Agreement, if and in so far as in its opinion the interests of the Funding 2 Secured Creditors will not be materially prejudiced thereby, authorise or waive, on such terms and conditions (if any) as shall seem expedient to it, any proposed or actual breach of any of the covenants or provisions contained in or arising pursuant to any of the Transaction Documents. Any such authorisation or waiver shall be binding on the Funding 2 Secured Creditors and, unless the Security Trustee otherwise agrees, notice thereof shall be given by Funding 2 to the Funding 2 Secured Creditors as soon as practicable thereafter.
AUTHORISATION OR WAIVER OF BREACH. The Ninth Issuer Security Trustee may, without the consent of the Ninth Issuer Secured Creditors, without prejudice to its right in respect of any further or other breach, from time to time and at any time, but only if and in so far as (i) in its opinion acting reasonably the interests of the Ninth Issuer Noteholders will not be materially prejudiced thereby and (ii) in its opinion acting reasonably the interests of the Ninth Issuer Swap Providers will not be materially prejudiced thereby or, if it is not of that opinion in relation to the Ninth Issuer Swap Providers, the steps required pursuant to Clause 8 (Modification) have been taken and the Ninth Issuer Swap Providers have consented or have been deemed to have consented to such authorisation or waiver, authorise or waive, on such terms and conditions (if any) as shall seem expedient to it, any proposed or actual breach of any of the covenants or provisions contained in or arising pursuant to any of the Ninth Issuer Transaction Documents. Any such authorisation or waiver shall be binding on the Ninth Issuer Secured Creditors and, unless the Ninth Issuer Security Trustee otherwise agrees, notice thereof shall be given by the Ninth Issuer Cash Manager to the Ninth Issuer Secured Creditors as soon as practicable thereafter.
AUTHORISATION OR WAIVER OF BREACH. Subject to Clause 14.10 (Acceleration) of the Intercompany Loan Terms and Conditions, the Security Trustee (at the direction of the Note Trustee) may, without the consent of the Funding Secured Creditors, without prejudice to its right in respect of any further or other breach, from time to time and at any time, but only if and in so far as in its opinion the interests of the Noteholders will not be materially prejudiced thereby authorise or waive, on such terms and conditions (if any) as shall seem expedient to it, any proposed or actual breach of any of the covenants or provisions contained in or arising pursuant to any of the Transaction Documents. Any such authorisation or waiver shall be binding on the Funding Secured Creditors and, unless the Security Trustee otherwise agrees, notice thereof shall be given by Funding to the Funding Secured Creditors as soon as practicable thereafter.
AUTHORISATION OR WAIVER OF BREACH. The Note Trustee and/or Security Trustee, as applicable, may, without the consent or sanction of the Noteholders or the other Secured Creditors, without prejudice to its right in respect of any further or other breach, from time to time and at any time authorise or waive, on such terms and conditions (if any) as shall seem expedient to it, any proposed or actual breach of any of the covenants or provisions contained in or arising pursuant to the Conditions or any of the Transaction Documents by any party thereto, but only if in the opinion of the Note Trustee, or as the case may be, the Security Trustee, the interests of the Most Senior Class or if there are no Notes then outstanding, all the Secured Creditors will not be materially prejudiced thereby. Any such authorisation or waiver shall be binding on the Secured Creditors and, unless the Security Trustee otherwise agrees, notice thereof shall be given by the Issuer to the Secured Creditors and to the Rating Agencies in accordance with the Conditions and/or the terms of the Transaction Documents, as applicable, as soon as practicable thereafter.
AUTHORISATION OR WAIVER OF BREACH. The Note Trustee and/or the Security Trustee (in the case of the Security Trustee, acting in accordance with the Deed of Charge), as applicable, may, without the consent or sanction of the Noteholders or the other Secured Creditors and without prejudice to its rights in respect of any further or other breach, from time to time and at any time, authorise or waive any proposed or actual breach of any of the covenants or provisions contained in or arising pursuant to the Conditions or any of the Transaction Documents by any party thereto, but only if in the opinion of the Note Trustee or, as the case may be, the Security Trustee, the interests of the Most Senior Class or if there are no Notes then outstanding, all the Secured Creditors will not be materially prejudiced thereby. The Note Trustee shall not exercise any powers conferred on it by this Condition 13.7 in contravention of any express direction given by Extraordinary Resolution of the holders of the Most Senior Class or, by a direction under Condition 11 (Events of Default) but so that no such direction or request shall affect any waiver, authorisation or determination previously given or made.
