Common use of Dealings with Scottish Trust Property and Negative Pledge Clause in Contracts

Dealings with Scottish Trust Property and Negative Pledge. The Seller warrants and undertakes that: (a) as at the date hereof it holds, subject to any pending registration or recording in the Registers of Scotland, legal title to the Scottish Trust Property unencumbered by any fixed or floating charge, diligence or other Security Interest; (b) it shall not create or agree to create any fixed or floating charge or other Security Interest or Encumbrance over or which may attach to or affect the whole or any part of the Scottish Trust Property or otherwise dispose of the same at any time when such Scottish Trust Property or part thereof remains subject to the trust hereby created; and (c) it shall deal with the Scottish Trust Property (including without prejudice to said generality the calculation and setting of any interest rate applicable thereto) in accordance with the provisions of the Transaction Documents and the specific written instructions (if any) of the LLP or its foresaids and shall take, subject to Clause 6 hereof, any such action as may be necessary (including for the avoidance of doubt the raising or defending of any proceedings in any court of law whether in Scotland or elsewhere) to secure or protect the title to the Scottish Trust Property but only in accordance with the specific written instructions (if any) of the LLP or its foresaids and (for so long as it retains any right or interest in the Scottish Trust Property) the Security Trustee.

Dealings with Scottish Trust Property and Negative Pledge. The Seller warrants and undertakes that: (a) 4.1 as at the date hereof it holds, subject to any pending registration or recording in the Registers of Scotland, legal title to the Scottish Trust Property unencumbered by any fixed or floating charge, diligence or other Security Interest; (b) 4.2 it shall not create or agree to create any fixed or floating charge or other Security Interest or Encumbrance over or which may attach to or affect the whole or any part of the Scottish Trust Property or otherwise dispose of the same at any time when such Scottish Trust Property or part thereof remains subject to the trust hereby created; and (c) 4.3 it shall deal with the Scottish Trust Property (including without prejudice to said generality the calculation and setting of any interest rate applicable thereto) in accordance with the provisions of the Transaction Documents and the specific written instructions (if any) of the LLP Mortgages Trustee or its foresaids and shall take, subject to Clause clause 6 hereof, any such action as may be necessary (including for the avoidance of doubt the raising or defending of any proceedings in any court of law whether in Scotland or elsewhere) to secure or protect the title to the Scottish Trust Property but only in accordance with the specific written instructions (if any) of the LLP Mortgages Trustee or its foresaids and (for so long as it retains any right or interest in the Scottish Trust Property) the Security Trusteeforesaids.

Dealings with Scottish Trust Property and Negative Pledge. The Seller warrants and undertakes that: (a) 4.1 as at the date hereof it holds, subject to any pending registration or recording in the Registers of Scotland, legal title to the Scottish Trust Property unencumbered by any fixed or floating charge, diligence or other Security Interest; (b) 4.2 it shall not create or agree to create any fixed or floating charge or other Security Interest or Encumbrance over or which may attach to or affect the whole or any part of the Scottish Trust Property or otherwise dispose of the same at any time when such Scottish Trust Property or part thereof remains subject to the trust hereby created; and (c) 4.3 it shall deal with the Scottish Trust Property (including without prejudice to said generality the calculation and setting of any interest rate applicable thereto) in accordance with the provisions of the Transaction Documents and the specific written instructions (if any) of the LLP Mortgages Trustee or its foresaids and shall take, subject to Clause 6 hereof, any such action as may be necessary (including for the avoidance of doubt the raising or defending of any proceedings in any court of law whether in Scotland or elsewhere) to secure or protect the title to the Scottish Trust Property but only in accordance with the specific written instructions (if any) of the LLP Mortgages Trustee or its foresaids and (for so long as it retains any right or interest in the Scottish Trust Property) the Security Trusteeforesaids.

Dealings with Scottish Trust Property and Negative Pledge. The Seller warrants and undertakes that: (a) as at the date hereof it holds, subject to any pending registration or recording in the Registers of Scotland, legal title to the Scottish Trust Property unencumbered by any fixed or floating charge, diligence or other Security Interest; (b) it shall not create or agree to create any fixed or floating charge or other Security Interest or Encumbrance over or which may attach to or affect the whole or any part of the Scottish Trust Property or otherwise dispose of the same at any time when such Scottish Trust Property or part thereof remains subject to the trust hereby created; and (c) it shall deal with the Scottish Trust Property (including without prejudice to said generality the calculation and setting of any interest rate applicable thereto) in accordance with the provisions of the Transaction Documents and the specific written instructions (if any) of the LLP Mortgages Trustee or its foresaids and shall take, subject to Clause 6 hereof8 below, any such action as may be necessary (including for the avoidance of doubt the raising or defending of any proceedings in any court of law whether in Scotland or elsewhere) to secure or protect the title to the Scottish Trust Property but only in accordance with the specific written instructions (if any) of the LLP Mortgages Trustee or its foresaids and (for so long as it retains any right or interest in the Scottish Trust Property) the Security Trusteeforesaids.

Dealings with Scottish Trust Property and Negative Pledge. The Seller warrants and undertakes that: (a) as at the date hereof it holds, subject to any pending imperfected registration or recording in the Registers Land Register of ScotlandScotland or the General Register of Sasines, legal title to the Scottish Trust Property unencumbered by any fixed or floating charge, diligence or other Security Interest; (b) it shall not create or agree to create any fixed or floating charge or other Security Interest or Encumbrance over or which may attach to or affect the whole or any part of the Scottish Trust Property or otherwise dispose of the same at any time when such Scottish Trust Property or part thereof remains subject to the trust hereby created; and (c) it shall deal with the Scottish Trust Property (including without prejudice to said generality the calculation and setting of any interest rate applicable thereto) in accordance with the provisions of the Transaction Documents and the specific written instructions (if any) of the LLP Mortgages Trustee or its foresaids and shall take, subject to Clause 6 hereof8 (Termination of Trust) below, any such action as may be necessary (including for the avoidance of doubt the raising or defending of any proceedings in any court of law whether in Scotland or elsewhere) to secure or protect the title to the Scottish Trust Property but only in accordance with the specific written instructions (if any) of the LLP Mortgages Trustee or its foresaids and (for so long as it retains any right or interest in the Scottish Trust Property) the Security Trusteeforesaids.

Dealings with Scottish Trust Property and Negative Pledge. The Seller warrants and undertakes that: (a) as at the effective date hereof it holds, subject to any pending registration or recording in the Registers of ScotlandScotland which are in progress in accordance with the Mortgage Sale Agreement, legal title to the Scottish Trust Property unencumbered by any fixed or floating charge, diligence or other Security Interest; (b) it shall not create or agree to create any fixed or floating charge or other Security Interest or Encumbrance over or which may attach to or affect the whole or any part of the Scottish Trust Property or otherwise dispose of the same at any time when such Scottish Trust Property or part thereof remains subject to the trust hereby created; and (c) it shall deal with the Scottish Trust Property (including without prejudice to said the foregoing generality the calculation and setting of any interest rate applicable thereto) in accordance with the provisions of the Transaction Documents and the specific written instructions (if any) of the LLP Issuer or its foresaids and shall take, subject to Clause 6 hereof, any such action as may be necessary (including for the avoidance of doubt the raising or defending of any proceedings in any court of law whether in Scotland or elsewhere) to secure or protect the title to the Scottish Trust Property but only in accordance with the specific written instructions (if any) of the LLP Issuer or its foresaids and (for so long as it retains any right or interest in the Scottish Trust Property) the Security Trustee.

Dealings with Scottish Trust Property and Negative Pledge. The Seller warrants and undertakes that: (a) as at the date hereof it holds, subject to any pending registration or recording in the Registers of ScotlandScotland which are in progress in accordance with the Mortgage Sale Agreement, legal title to the Scottish Trust Property unencumbered by any fixed or floating charge, diligence or other Security Interest; (b) it shall not create or agree to create any fixed or floating charge or other Security Interest or Encumbrance over or which may attach to or affect the whole or any part of the Scottish Trust Property or otherwise dispose of the same at any time when such Scottish Trust Property or part thereof remains subject to the trust hereby created; and (c) it shall deal with the Scottish Trust Property (including without prejudice to said the foregoing generality the calculation and setting of any interest rate applicable thereto) in accordance with the provisions of the Transaction Documents and the specific written instructions (if any) of the LLP Issuer or its foresaids and shall take, subject to Clause 6 hereof, any such action as may be necessary (including for the avoidance of doubt the raising or defending of any proceedings in any court of law whether in Scotland or elsewhere) to secure or protect the title to the Scottish Trust Property but only in accordance with the specific written instructions (if any) of the LLP Issuer or its foresaids and (for so long as it retains any right or interest in the Scottish Trust Property) the Security Trustee.

Dealings with Scottish Trust Property and Negative Pledge. The Seller warrants and undertakes that: (a) as at the date hereof it holds, subject to any pending registration or recording in the Registers of Scotland, legal title to the Scottish Trust Property unencumbered by any fixed or floating charge, diligence or other Security Interest; (b) it shall not create or agree to create any fixed or floating charge or other Security Interest or Encumbrance over or which may attach to or affect the whole or any part of the Scottish Trust Property or otherwise dispose of the same at any time when such Scottish Trust Property or part thereof remains subject to the trust hereby created; and (c) it shall deal with the Scottish Trust Property (including without prejudice to said the foregoing generality the calculation and setting of any interest rate applicable thereto) in accordance with the provisions of the Transaction Documents and the specific written instructions (if any) of the LLP or its foresaids and shall take, subject to Clause 6 hereof, any such action as may be necessary (including for the avoidance of doubt the raising or defending of any proceedings in any court of law whether in Scotland or elsewhere) to secure or protect the title to the Scottish Trust Property but only in accordance with the specific written instructions (if any) of the LLP or its foresaids and (for so long as it retains any right or interest in the Scottish Trust Property) the Security Trustee.