Common use of COVENANT OF THE MORTGAGES TRUSTEE Clause in Contracts

COVENANT OF THE MORTGAGES TRUSTEE. Subject to Clause 17.2 (Directions from Beneficiaries) the Mortgages Trustee covenants with each of the Seller and Funding to exercise all of its rights arising under or in respect of the Trust Property (including without limitation any rights of enforcement) for the benefit of and on behalf of the Beneficiaries.

COVENANT OF THE MORTGAGES TRUSTEE. Subject to the foregoing provision of this Clause 17.2 17 (Directions from BeneficiariesBeneficiary Directions) the Mortgages Trustee covenants with each of the Seller Seller, Funding and Funding 2 to exercise all of its rights arising under or in respect of the Trust Property (including without limitation any rights of enforcement) for the benefit of and on behalf of the Beneficiaries.