Dealing with Trust Back Assets Clause Samples

Dealing with Trust Back Assets. Subject to the terms of this deed: (i) an Approved Seller is entitled to deal with its Trust Back Assets in its absolute discretion; (ii) the Trustee must not deal with any Trust Back Assets other than: (A) in accordance with directions given by the relevant Approved Seller as beneficiary of the Trust Back, from time to time; (B) in accordance with all the Transaction Documents; or (C) to the extent necessary to exercise and enforce any Receivable Rights; and (iii) the Trustee must act in accordance with any direction given to it by the relevant Approved Seller in respect of its Trust Back Assets, except that the Trustee is not obliged to act in accordance with the direction of that Approved Seller where to do so would: (A) be illegal; or (B) materially prejudice the exercise of the Trustee's rights in relation to the Receivables or Receivable Securities.