Common use of Discharge of UK Security Trustee Clause in Contracts

Discharge of UK Security Trustee. From the date that the appointment of a successor is effected under Section 12.2.14, the retiring UK Security Trustee must be discharged from any further obligations under the Loan Documents as UK Security Trustee, and the successor to the UK Security Trustee and each of the other Secured Parties have the same rights and obligations between themselves as they would have had if the successor had been a party to those Loan Documents.

Discharge of UK Security Trustee. From the date that the appointment of a successor is effected under Section 12.2.1412.2.13, the retiring UK Security Trustee must be discharged from any further obligations under the Loan Documents as UK Security Trustee, and the successor to the UK Security Trustee and each of the other UK Facility Secured Parties have the same rights and obligations between themselves as they would have had if the successor had been a party to those Loan Documents.