Defects in Transaction Security Clause Samples

Defects in Transaction Security. The Security Agent shall not be liable for any failure or omission: (a) to require the deposit with it of any deed or document certifying, representing or constituting the title of any of the Obligors to any of the Charged Assets; (b) to obtain any Authorisation or other authority for the execution, delivery, validity, legality, adequacy, performance, enforceability or admissibility in evidence of any of the Finance Documents; (c) to register or notify any of the Transaction Security in accordance with the provisions of any of the documents of title of any of the Obligors; (d) to effect or procure registration of or otherwise protect any of the Transaction Security by registering the same under any applicable registration laws in any territory; (e) to take, or to require any of the Obligors to take, any steps to render the Transaction Security effective or to secure the creation of any ancillary charge under the laws of any jurisdiction; or (f) to require any further assurances in relation to any of the Security Documents.

Defects in Transaction Security. The UK Security Trustee shall not be liable for any failure or omission to perfect, or any defect in perfecting, the Transaction Security, including: