Common use of Authorisation or waiver Clause in Contracts

Authorisation or waiver. The Master Issuer Security Trustee shall waive or authorise (without prejudice to its rights in respect of any further or other breach) any breach or proposed breach by the Master Issuer or any other person of any of the covenants or provisions of any Master Issuer Transaction Document only if so directed by the Note Trustee so long as there are any Master Issuer Notes outstanding.

Authorisation or waiver. The Master Issuer Security Trustee shall waive or authorise (or direct the Funding 2 Security Trustee to waive or authorise) (without prejudice to its rights in respect of any further or other breach) any breach or proposed breach by the Master Issuer or any other person (or, in the case of a direction of the Funding 2 Security Trustee, by Funding 2 or any other person) of any of the covenants or provisions of any Master Issuer Transaction Document only if so directed by the Note Trustee so long as there are any Master Issuer Notes outstanding.