Common use of Commercial Transactions Clause in Contracts

Commercial Transactions. The Ninth Issuer Security Trustee shall not, and no director, officer or employee of any corporation being a trustee hereof shall, by reason of the fiduciary position of the Ninth Issuer Security Trustee, be in any way precluded from making any contracts or entering into any transactions in the ordinary course of business with the Ninth Issuer, Funding or Holdings or any other subsidiary of Holdings or any other party to the Ninth Issuer Transaction Documents or any other party to any of the Ninth Issuer Transaction Documents or from accepting the trusteeship of any stock, shares, debenture stock, debentures or securities of any such person. Without prejudice to the generality of the foregoing, it is expressly declared that such contracts and transactions include any contract or transaction in relation to the placing, underwriting, purchasing, subscribing for or dealing with or lending money upon or making payments in respect of any stock, shares, debenture stock, debentures or other securities of the Ninth Issuer, Funding or Holdings or any other subsidiary of Holdings or any other party to the Ninth Issuer Transaction Documents or any contract of banking or insurance with the Ninth Issuer, Funding or Holdings or any other subsidiary of Holdings or any other party to the Ninth Issuer Transaction Documents. Neither the Ninth Issuer Security Trustee nor any such director or officer of the Ninth Issuer Security Trustee shall be accountable to any of the Ninth Issuer Secured Creditors or the Ninth Issuer, Funding or Holdings for any profit, fees, commissions, interest, discounts or share of brokerage earned, arising or resulting from any such contracts or transactions. The Ninth Issuer Security Trustee and any such director, officer or employee shall be at liberty to retain the same for its or his own benefit.

Appears in 1 contract

Samples: HOLMES FINANCING (No. 9) PLC

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Commercial Transactions. The Ninth Issuer Security Trustee shall not, and no director, officer or employee of any corporation being a trustee Security Trustee hereof shall, shall by reason of the fiduciary position of the Ninth Issuer Security Trustee, Trustee be in any way precluded from making any commercial contracts or entering into any commercial transactions in with Funding 2, the ordinary course of business with the Ninth Master Issuer, Funding or Holdings or any other subsidiary of Holdings or any other party to the Ninth Issuer Transaction Documents Documents, whether directly or through any other party to any of the Ninth Issuer Transaction Documents subsidiary or associated company, or from accepting the trusteeship of any stock, shares, other debenture stock, debentures or securities of Funding 2, the Master Issuer, Holdings or any such person. Without subsidiary of Holdings or any other party to the Transaction Documents, and without prejudice to the generality of the foregoingthese provisions, it is expressly declared that such contracts and transactions include any contract or transaction in relation to the placing, underwriting, purchasing, subscribing for or dealing with or lending money monies upon or making payments in respect of or any stock, shares, debenture stock, debentures or other securities of Funding 2, the Ninth Master Issuer, Funding or Holdings or any other subsidiary of Holdings or any other party to the Ninth Issuer Transaction Documents or any contract of banking or insurance with Funding 2, the Ninth Master Issuer, Funding or Holdings or any other subsidiary of Holdings or any other party to the Ninth Issuer Transaction Documents. Neither Documents and neither the Ninth Issuer Security Trustee nor any such director director, officer or officer of the Ninth Issuer Security Trustee employee shall be accountable to any of the Ninth Issuer Funding 2 Secured Creditors Creditor or to Funding 2 or the Ninth Issuer, Funding or Holdings Master Issuer for any profit, fees, commissions, interest, discounts or share of brokerage earned, arising or resulting from any such contracts or transactions. The Ninth Issuer , and the Security Trustee and any such director, officer or employee shall also be at liberty to retain the same for its or his own benefitwithout accounting therefor.

Appears in 1 contract

Samples: Permanent Funding (No. 2) LTD

Commercial Transactions. The Ninth Issuer Security Trustee shall not, and no director, officer or employee of any corporation being a trustee hereof shall, by reason of the fiduciary position of the Ninth Issuer Security Trustee, be in any way precluded from making any contracts or entering into any transactions in the ordinary course of business with the Ninth Fourth Issuer, Funding 1 or Holdings or any other subsidiary of Holdings or any other party to the Ninth Fourth Issuer Transaction Documents or any other party to any of the Ninth Fourth Issuer Transaction Documents or from accepting the trusteeship of any stock, shares, debenture stock, debentures or securities of any such person. Without prejudice to the generality of the foregoing, it is expressly declared that such contracts and transactions include any contract or transaction in relation to the placing, underwriting, purchasing, subscribing for or dealing with or lending money upon or making payments in respect of any stock, shares, debenture stock, debentures or other securities of the Ninth Fourth Issuer, Funding 1 or Holdings or any other subsidiary of Holdings or any other party to the Ninth Fourth Issuer Transaction Documents or any contract of banking or insurance with the Ninth Fourth Issuer, Funding 1 or Holdings or any other subsidiary of Holdings or any other party to the Ninth Issuer Transaction Documents. Neither the Ninth Issuer Security Trustee nor any such director or officer of the Ninth Issuer Security Trustee shall be accountable to any of the Ninth Fourth Issuer Secured Creditors or the Ninth Fourth Issuer, Funding 1 or Holdings for any profit, fees, commissions, interest, discounts or share of brokerage earned, arising or resulting from any such contracts or transactions. The Ninth Issuer Security Trustee and any such director, officer or employee shall be at liberty to retain the same for its or his own benefit.

Appears in 1 contract

Samples: Permanent Mortgages Trustee LTD

Commercial Transactions. The Ninth Seventh Issuer Security Trustee shall not, and no director, officer or employee of any corporation being a trustee hereof shall, by reason of the fiduciary position of the Ninth Seventh Issuer Security Trustee, be in any way precluded from making any contracts or entering into any transactions in the ordinary course of business with the Ninth Seventh Issuer, Funding or Holdings or any other subsidiary of Holdings or any other party to the Ninth Seventh Issuer Transaction Documents or any other party to any of the Ninth Seventh Issuer Transaction Documents or from accepting the trusteeship of any stock, shares, debenture stock, debentures or securities of any such person. Without prejudice to the generality of the foregoing, it is expressly declared that such contracts and transactions include any contract or transaction in relation to the placing, underwriting, purchasing, subscribing for or dealing with or lending money upon or making payments in respect of any stock, shares, debenture stock, debentures or other securities of the Ninth Seventh Issuer, Funding or Holdings or any other subsidiary of Holdings or any other party to the Ninth Seventh Issuer Transaction Documents or any contract of banking or insurance with the Ninth Seventh Issuer, Funding or Holdings or any other subsidiary of Holdings or any other party to the Ninth Seventh Issuer Transaction Documents. Neither the Ninth Seventh Issuer Security Trustee nor any such director or officer of the Ninth Seventh Issuer Security Trustee shall be accountable to any of the Ninth Seventh Issuer Secured Creditors or the Ninth Seventh Issuer, Funding or Holdings for any profit, fees, commissions, interest, discounts or share of brokerage earned, arising or resulting from any such contracts or transactions. The Ninth Seventh Issuer Security Trustee and any such director, officer or employee shall be at liberty to retain the same for its or his own benefit.

Appears in 1 contract

Samples: Holmes Financing No 7 PLC

Commercial Transactions. The Ninth Issuer Security Trustee shall not, and no director, officer or employee of any corporation being a trustee hereof shall, by reason of the fiduciary position of the Ninth Issuer Security Trustee, be in any way precluded from making any contracts or entering into any transactions in the ordinary course of business with the Ninth Fifth Issuer, Funding 1 or Holdings or any other subsidiary of Holdings or any other party to the Ninth Fifth Issuer Transaction Documents or any other party to any of the Ninth Fifth Issuer Transaction Documents or from accepting the trusteeship of any stock, shares, debenture stock, debentures or securities of any such person. Without prejudice to the generality of the foregoing, it is expressly declared that such contracts and transactions include any contract or transaction in relation to the placing, underwriting, purchasing, subscribing for or dealing with or lending money upon or making payments in respect of any stock, shares, debenture stock, debentures or other securities of the Ninth Fifth Issuer, Funding 1 or Holdings or any other subsidiary of Holdings or any other party to the Ninth Fifth Issuer Transaction Documents or any contract of banking or insurance with the Ninth Fifth Issuer, Funding 1 or Holdings or any other subsidiary of Holdings or any other party to the Ninth Issuer Transaction Documents. Neither the Ninth Issuer Security Trustee nor any such director or officer of the Ninth Issuer Security Trustee shall be accountable to any of the Ninth Fifth Issuer Secured Creditors or the Ninth Fifth Issuer, Funding 1 or Holdings for any profit, fees, commissions, interest, discounts or share of brokerage earned, arising or resulting from any such contracts or transactions. The Ninth Issuer Security Trustee and any such director, officer or employee shall be at liberty to retain the same for its or his own benefit.

Appears in 1 contract

Samples: Permanent Financing (No. 5) PLC

Commercial Transactions. The Ninth Issuer Security Trustee shall not, and no director, officer or employee of any corporation being a trustee hereof shall, by reason of the fiduciary position of the Ninth Issuer Security Trustee, be in any way precluded from making any contracts or entering into any transactions in the ordinary course of business with the Ninth Sixth Issuer, Funding 1 or Holdings or any other subsidiary of Holdings or any other party to the Ninth Sixth Issuer Transaction Documents or any other party to any of the Ninth Sixth Issuer Transaction Documents or from accepting the trusteeship of any stock, shares, debenture stock, debentures or securities of any such person. Without prejudice to the generality of the foregoing, it is expressly declared that such contracts and transactions include any contract or transaction in relation to the placing, underwriting, purchasing, subscribing for or dealing with or lending money upon or making payments in respect of any stock, shares, debenture stock, debentures or other securities of the Ninth Sixth Issuer, Funding 1 or Holdings or any other subsidiary of Holdings or any other party to the Ninth Sixth Issuer Transaction Documents or any contract of banking or insurance with the Ninth Sixth Issuer, Funding 1 or Holdings or any other subsidiary of Holdings or any other party to the Ninth Issuer Transaction Documents. Neither the Ninth Issuer Security Trustee nor any such director or officer of the Ninth Issuer Security Trustee shall be accountable to any of the Ninth Sixth Issuer Secured Creditors or the Ninth Sixth Issuer, Funding 1 or Holdings for any profit, fees, commissions, interest, discounts or share of brokerage earned, arising or resulting from any such contracts or transactions. The Ninth Issuer Security Trustee and any such director, officer or employee shall be at liberty to retain the same for its or his own benefit.

Appears in 1 contract

Samples: Permanent Mortgages Trustee LTD

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Commercial Transactions. The Ninth Sixth Issuer Security Trustee shall not, and no director, officer or employee of any corporation being a trustee hereof shall, by reason of the fiduciary position of the Ninth Sixth Issuer Security Trustee, be in any way precluded from making any contracts or entering into any transactions in the ordinary course of business with the Ninth Sixth Issuer, Funding or Holdings or any other subsidiary of Holdings or any other party to the Ninth Sixth Issuer Transaction Documents or any other party to any of the Ninth Sixth Issuer Transaction Documents or from accepting the trusteeship of any stock, shares, debenture stock, debentures or securities of any such person. Without prejudice to the generality of the foregoing, it is expressly declared that such contracts and transactions include any contract or transaction in relation to the placing, underwriting, purchasing, subscribing for or dealing with or lending money upon or making payments in respect of any stock, shares, debenture stock, debentures or other securities of the Ninth Sixth Issuer, Funding or Holdings or any other subsidiary of Holdings or any other party to the Ninth Sixth Issuer Transaction Documents or any contract of banking or insurance with the Ninth Sixth Issuer, Funding or Holdings or any other subsidiary of Holdings or any other party to the Ninth Issuer Transaction Documents. Neither the Ninth Sixth Issuer Security Trustee nor any such director or officer of the Ninth Sixth Issuer Security Trustee shall be accountable to any of the Ninth Sixth Issuer Secured Creditors or the Ninth Sixth Issuer, Funding or Holdings for any profit, fees, commissions, interest, discounts or share of brokerage earned, arising or resulting from any such contracts or transactions. The Ninth Sixth Issuer Security Trustee and any such director, officer or employee shall be at liberty to retain the same for its or his own benefit.

Appears in 1 contract

Samples: Holmes Financing No 6 PLC

Commercial Transactions. The Ninth Issuer Security Trustee shall not, and no director, officer or employee of any corporation being a trustee hereof shall, by reason of the fiduciary position of the Ninth Issuer Security Trustee, be in any way precluded from making any contracts or entering into any transactions in the ordinary course of business with the Ninth Seventh Issuer, Funding 1 or Holdings or any other subsidiary of Holdings or any other party to the Ninth Seventh Issuer Transaction Documents or any other party to any of the Ninth Seventh Issuer Transaction Documents or from accepting the trusteeship of any stock, shares, debenture stock, debentures or securities of any such person. Without prejudice to the generality of the foregoing, it is expressly declared that such contracts and transactions include any contract or transaction in relation to the placing, underwriting, purchasing, subscribing for or dealing with or lending money upon or making payments in respect of any stock, shares, debenture stock, debentures or other securities of the Ninth Seventh Issuer, Funding 1 or Holdings or any other subsidiary of Holdings or any other party to the Ninth Seventh Issuer Transaction Documents or any contract of banking or insurance with the Ninth Seventh Issuer, Funding 1 or Holdings or any other subsidiary of Holdings or any other party to the Ninth Issuer Transaction Documents. Neither the Ninth Issuer Security Trustee nor any such director or officer of the Ninth Issuer Security Trustee shall be accountable to any of the Ninth Seventh Issuer Secured Creditors or the Ninth Seventh Issuer, Funding 1 or Holdings for any profit, fees, commissions, interest, discounts or share of brokerage earned, arising or resulting from any such contracts or transactions. The Ninth Issuer Security Trustee and any such director, officer or employee shall be at liberty to retain the same for its or his own benefit.

Appears in 1 contract

Samples: Permanent Mortgages Trustee LTD

Commercial Transactions. The Ninth Issuer Security Trustee shall not, and no director, officer or employee of any corporation being a trustee Security Trustee hereof shall, shall by reason of the fiduciary position of the Ninth Issuer Security Trustee, Trustee be in any way precluded from making any commercial contracts or entering into any commercial transactions in the ordinary course of business with the Ninth Funding, an Issuer, Funding or Holdings or any other subsidiary of Holdings Holdings, an Issuer or any other party to the Ninth Issuer Transaction Documents Documents, whether directly or through any other party to any of the Ninth Issuer Transaction Documents subsidiary or associated company, or from accepting the trusteeship of any stock, shares, other debenture stock, debentures or securities of Funding, any such person. Without Issuer, Holdings or any subsidiary of Holdings, any Issuer or any other party to the Transaction Documents, and without prejudice to the generality of the foregoingthese provisions, it is expressly declared that such contracts and transactions include any contract or transaction in relation to the placing, underwriting, purchasing, subscribing for or dealing with or lending money monies upon or making payments in respect of or any stock, shares, debenture stock, debentures or other securities of the Ninth Funding, any Issuer, Funding or Holdings or any other subsidiary of Holdings Holdings, any Issuer or any other party to the Ninth Issuer Transaction Documents or any contract of banking or insurance with the Ninth Funding, any Issuer, Funding or Holdings or any other subsidiary of Holdings Holdings, any Issuer or any other party to the Ninth Issuer Transaction Documents. Neither Documents and neither the Ninth Issuer Security Trustee nor any such director director, officer or officer of the Ninth Issuer Security Trustee employee shall be accountable to any of the Ninth Issuer Funding Secured Creditors Creditor or the Ninth Issuer, to Funding or Holdings any Issuer for any profit, fees, commissions, interest, discounts or share of brokerage earned, arising or resulting from any such contracts or transactions. The Ninth Issuer , and the Security Trustee and any such director, officer or employee shall also be at liberty to retain the same for its or his own benefitwithout accounting therefor.

Appears in 1 contract

Samples: Holmes Financing No 6 PLC

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