Authority of Security Trustee. Each Grantor acknowledges that the rights and responsibilities of the Security Trustee under this Agreement with respect to any action taken by the Security Trustee or the exercise or non-exercise by the Security Trustee of any option, voting right, request, judgment or other right or remedy provided for herein or resulting or arising out of this Agreement shall, as between the Security Trustee and the other Secured Parties, be governed by the Credit Agreement and by such other agreements with respect thereto as may exist from time to time among them, but, as between the Security Trustee and the Grantors, the Security Trustee shall be conclusively presumed to be acting as agent for the Secured Parties with full and valid authority so to act or refrain from acting, and no Grantor shall be under any obligation, or entitlement, to make any inquiry respecting such authority. SECTION 8.
Authority of Security Trustee. Each Grantor acknowledges that the rights and responsibilities of the Security Trustee under this Agreement with respect to any action taken by the Security Trustee or the exercise or non-exercise by the Security Trustee of any option, voting right, request, judgment or other right or remedy provided for herein or resulting or arising out of this Agreement shall as between the Security Trustee and the Secured Parties, be governed by the Facility Agreement, and by such other agreements with respect thereto as may exist from time to time among them, but, as between the Security Trustee and the Grantors, the Security Trustee shall be conclusively presumed to be acting as agent for the Secured Parties with full and valid authority so to act or refrain from acting, and no Grantor shall be under any obligation, or entitlement, to make any inquiry respecting such authority. Notwithstanding anything herein to the contrary, the rights, protections, immunities and indemnities afforded to the Security Trustee pursuant to the Facility Agreement shall be incorporated in this Security Agreement as though explicitly set forth herein.
Authority of Security Trustee if the Assignor shall neglect or refuse to comply in any way with the provisions of Clauses 3.2.1 and 3.2.2, it shall be lawful for the Security Trustee in the name of the Assignor or otherwise to demand and receive the Building Agreement, the Lease or other documents of title relating to the Property from the Lessor and to make such payments and do such acts as shall enable the Escrow Mortgage referred to in Clauses 3.3 and 3.4 to be completed and perfected; and
Authority of Security Trustee. 42 9.06 Reliance; Administrative Agent; Advice of Counsel ............................................... 42 9.07 Separate and Co-Trustee ........................................................................................... 43 Section 10. Miscellaneous ....................................................................................................... 44 - iii - 10.01 Amendments in Writing ........................................................................................... 44 10.02 Notices ...................................................................................................................... 45 10.03 No Waiver by Course of Conduct; Cumulative Remedies ....................................... 45 10.04
Authority of Security Trustee. The Security Trustee may, with the consent of the Instructing Beneficiaries or if and to the extent expressly authorised by any other provision of this Deed or any Security Document, concur with any Obligor to amend or waive any breach of, or default under, or otherwise excuse any performance of, or give any consent under, or otherwise take any action under or pursuant to, any provision of any Security Document, provided however that any such action contemplated by the foregoing provisions of this clause 6.4 shall be, and shall be deemed to be, taken by the Security Trustee as security trustee of the Beneficiaries in their respective capacities as such and shall not constitute, or be deemed to constitute, such action by the Security Trustee or any other Beneficiary in any other capacity or, for the avoidance of doubt, pursuant to any Transaction Document other than the relevant Security Document or, as the case may be, Security Documents. Any such action so authorised (if required) and effected by the Security Trustee shall be promptly notified to the Beneficiaries by the Security Trustee and shall (subject always to the proviso to the foregoing sentence of this clause 6.4) be binding on all of the Beneficiaries and, if necessary or appropriate, each Beneficiary shall execute or re-execute any deed, document, instrument or agreement required to give full effect to any such action. For the purposes of this clause 6.4, it is expressly agreed and acknowledged that the execution of a Further Assurance Deed shall not constitute an amendment to any Security Document, and each Beneficiary further agrees promptly to execute, at the request of the Security Trustee, any Further Assurance Deed which is in form and terms reasonably satisfactory to that Beneficiary. Unless expressly provided otherwise in the relevant further assurance covenant or obligation, Xxxxxxx Energy shall pay the Losses incurred by the Beneficiaries (or any of them) in the execution of any such Further Assurance Deed.
Authority of Security Trustee. 3.1 The Security Trustee is appointed to enter into and act as trustee for the Beneficiaries under the Security Trustee Documents. The Security Trustee accepts this appointment.
