Breach of Trust. The provisions of this Section 15 will not apply to any obligation or liability of Party B to the extent that it is not satisfied because under the Master Trust Deed, the Series Supplement or any other Transaction Document or by operation of law there is a reduction in the extent of Party B's indemnification out of the Assets of the Series Trust, as a result of Party B's fraud, negligence or wilful default.
Appears in 5 contracts
Samples: Isda Master Agreement (Interest Rate Swap Agreement) (Securitisation Advisory Services Pty LTD), Isda Master Agreement (Securitisation Advisory Services Pty LTD), Isda Master Agreement (Securitisation Advisory Services Pty LTD)
Breach of Trust. The provisions of this Section 15 will not apply to any obligation or liability of Party B to the extent that it is not satisfied because under this Agreement, the Master Trust Deed, the Series Supplement or any other Transaction Document or by operation of law there is a reduction in the extent of Party B's ’s indemnification out of the Assets of the Series Trust, as a result of Party B's ’s fraud, negligence or wilful default.
Appears in 2 contracts
Samples: Fixed Rate Swap Agreement (Macquarie Leasing Pty LTD), Fixed Rate Swap Agreement (Macquarie Leasing Pty LTD)
Breach of Trust. The provisions of this Section 15 will not apply to any obligation or liability of Party B to the extent that it is not satisfied because under the Master Trust Deed, the Series Supplement Deed or any other Transaction Document in relation to the relevant Sub-Fund or by operation of law there is a reduction in the extent of Party B's indemnification out of the Assets assets of the Series TrustSub-Fund, as a result of Party B's fraud, negligence or wilful default.
Appears in 2 contracts
Samples: Isda Master Agreement (Macquarie Securitisation LTD), Isda Master Agreement (Macquarie Securitisation LTD)
