Common use of Current Issuer Charged Property on Trust Clause in Contracts

Current Issuer Charged Property on Trust. To the extent permitted to do so under the Current Issuer Transaction Documents, for the purpose of giving effect to this Current Issuer Deed of Charge, the Current Issuer hereby declares that, after service of a Current Issuer Note Enforcement Notice, it will hold all the Current Issuer Charged Property (subject to the right of redemption) upon trust to convey, assign or otherwise deal with such Current Issuer Charged Property in such manner and to such person as the Note Trustee shall direct pursuant to this Current Issuer Deed of Charge, and declares that it shall be lawful for the Note Trustee to appoint a new trustee or trustees of the Current Issuer Charged Property in place of the Current Issuer.