Common use of Declaration and Acceptance of Trust Clause in Contracts

Declaration and Acceptance of Trust. The Collateral Trustee hereby declares, and each of the BFI Companies agrees, that the Collateral Trustee holds the Trust Estate as trustee in trust under this Agreement for the equal and ratable benefit of the Secured Parties as provided herein. By acceptance of the benefits of this Agreement, each Secured Party (whether or not a signatory hereto) (i) consents to the appointment of the Collateral Trustee as trustee hereunder, (ii) confirms that the Collateral Trustee shall have the authority to act as the exclusive agent of such Secured Party for enforcement of any remedies under or with respect to any Collateral Document and the giving or withholding of any consent or approval relating to any Collateral or any BFI Company's obligations with respect thereto and (iii) agrees that, except as provided in this Agreement, it shall not take any action to enforce any of such remedies or give any such consents or approvals.

Declaration and Acceptance of Trust. The Collateral Trustee hereby declares, and each of the BFI Companies agrees, that the Collateral Trustee holds the Trust Estate as trustee in trust under this Agreement for the equal and ratable benefit of the Secured Parties as provided herein. By acceptance of the benefits of this Agreement, each Secured Party (whether or not a signatory hereto) (ihereto)(i) consents to the appointment of the Collateral Trustee as trustee hereunder, (ii) confirms that the Collateral Trustee shall have the authority to act as the exclusive agent of such Secured Party for enforcement of any remedies under or with respect to any Collateral Document and the giving or withholding of any consent or approval relating to any Collateral or any BFI Company's obligations with respect thereto and (iii) agrees that, except as provided in this Agreement, it shall not take any action to enforce any of such remedies or give any such consents or approvals.

Declaration and Acceptance of Trust. The Collateral Trustee hereby declares, and each of the BFI Companies Obligors agrees, that the Collateral Trustee holds the Trust Estate as trustee in trust under this Agreement for the equal and ratable benefit of the Secured Parties as provided herein. By acceptance of the benefits of this AgreementAgreement and the Shared Security Documents, each Secured Party (whether or not a signatory hereto) (i) consents to the appointment of the Collateral Trustee as trustee hereunder, (ii) confirms that the Collateral Trustee shall have the authority to act as the exclusive agent of such Secured Party for enforcement of any remedies under or with respect to any Collateral Document the Shared Security Documents and the giving or withholding of any consent or approval relating to any Collateral thereto or any BFI Company's Obligor’s obligations with respect thereto thereunder and (iii) agrees that, except as expressly provided in this Agreement, it shall not take any action to enforce any of such remedies or give any such consents or approvals.

Declaration and Acceptance of Trust. The Collateral Trustee hereby declares, and each of the BFI Companies Grantors agrees, that the Collateral Trustee holds the Trust Estate as trustee in trust under this Agreement for the equal and ratable benefit of the Sharing Secured Parties as provided herein. By acceptance of the benefits of this AgreementAgreement and the Sharing Security Documents, each Sharing Secured Party (whether or not a signatory hereto) (i) consents to the appointment of the Collateral Trustee as trustee hereunder, (ii) confirms that the Collateral Trustee shall have the authority to act as the exclusive agent of such Sharing Secured Party for enforcement of any remedies under or with respect to any Collateral Document the Sharing Security Documents and the giving or withholding of any consent or approval relating to any under the Shared Collateral or any BFI CompanyGrantor's obligations with respect thereto and (iii) agrees that, except as expressly provided in this Agreement, it shall not take any action to enforce any of such remedies or give any such consents or approvals.