Concerning the Security Trustee Sample Clauses
The 'Concerning the Security Trustee' clause defines the role, powers, and responsibilities of the security trustee in a financing arrangement. Typically, this clause outlines how the security trustee holds security interests on behalf of multiple lenders, manages enforcement actions, and acts as a central point of contact for secured parties. By clarifying the authority and duties of the security trustee, the clause ensures coordinated action among lenders and provides a clear mechanism for managing and enforcing security interests, thereby reducing confusion and potential disputes among stakeholders.
Concerning the Security Trustee. In respect of the Security Trustee's performance of appointing the Administrative Agent to provide the Bank Account Management Services set forth in Section 2.04 and in the Indenture, the Security Trustee shall be afforded all of the rights, protections, immunities and indemnities contained in the Security Trust Agreement as if such rights, protections, immunities and indemnities were specifically set forth herein.
Concerning the Security Trustee. In respect of the Security Trustee's performance of appointing the Cash Manager to provide the Cash Management Services, the Security Trustee shall be afforded all of the rights, protections, immunities and indemnities contained in the Security Trust Agreement as if such rights, protections, immunities and indemnities were specifically set forth herein.
Concerning the Security Trustee. The Security Trustee has entered into this Agreement in its capacity as security trustee of the Finance Parties. Whenever any reference is made in this Agreement to an act to be performed by the Security Trustee, such reference shall be construed and applied for all purposes as if it referred to an act to be performed by the Security Trustee for and on behalf of the Finance Parties. Any and all of the representations, undertakings, covenants, indemnities, agreements and other obligations (in this section, collectively, "obligations") made on the part of the Security Trustee herein are made and intended not as personal obligations of or by the Security Trustee or for the purpose or with the intention of binding the Security Trustee in its personal capacity, but are made and intended for the purpose of binding only the Security Trustee in its capacity as agent for, and the property and assets of, the Finance Parties No property or assets of the Security Trustee, whether owned beneficially by it in its personal capacity or otherwise, will be subject to levy, execution or other enforcement procedures with regard to any of the Security Trustee's obligations hereunder. No recourse may be had or taken, directly or indirectly, against the Security Trustee in its personal capacity, or any incorporator, shareholder, officer, director, employee or agent of the Security Trustee or of any predecessor or successor of the Security Trustee, with regard to its obligations under this Agreement. Notwithstanding the foregoing provisions of this Section 10.8, the nature and extent of the obligations of the Security Trustee to the Finance Parties and the Borrower Parties (as defined in the Credit Agreement), and any recourse of the Finance Parties and the Borrower Parties against the Security Trustee, will be governed by the terms of the Credit Agreement and will not be affected or impaired by the foregoing provisions.
Concerning the Security Trustee. Notwithstanding anything herein to the contrary, all of the rights, protections, immunities and indemnities afforded to the Security Trustee pursuant to the Security Agreement shall be incorporated in this Agreement as though explicitly set forth herein. 10003560▇▇▇▇
Concerning the Security Trustee