Common use of Departmentalisation Clause in Contracts

Departmentalisation. In acting as a Pari Passu Note Trustee, a Pari Passu Note Trustee shall be treated as acting through its agency division which shall be treated as a separate entity from its other divisions and departments. Any information received or acquired by a Pari Passu Note Trustee which is received or acquired by some other division or department or otherwise than in its capacity as Pari Passu Note Trustee may be treated as confidential by that Pari Passu Note Trustee and will not be treated as information possessed by that Pari Passu Note Trustee in its capacity as such.

Departmentalisation. In acting as a Pari Passu Note Trustee, a Pari Passu Note Trustee shall be treated as acting through its agency division corporate trust department which shall be treated as a separate entity from its other divisions and departments. Any information received or acquired by a Pari Passu Note Trustee which is received or acquired by some other division or department or otherwise than in its capacity as Pari Passu Note Trustee may be treated as confidential by that Pari Passu Note Trustee and will not be treated as information possessed by that Pari Passu Note Trustee in its capacity as such.

Departmentalisation. In acting as a Pari Passu Note Notes Trustee, a Pari Passu Note Notes Trustee shall be treated as acting through its agency division which shall be treated as a separate entity from its other divisions and departments. Any information received or acquired by a Pari Passu Note Notes Trustee which is received or acquired by some other division or department or otherwise than in its capacity as Pari Passu Note Notes Trustee may be treated as confidential by that Pari Passu Note Notes Trustee and will not be treated as information possessed by that Pari Passu Note Notes Trustee in its capacity as such.