Common use of DISCRETION OF THE NOTE TRUSTEE Clause in Contracts

DISCRETION OF THE NOTE TRUSTEE. Save as expressly otherwise provided in this Deed, the Note Conditions or the Documents, the Note Trustee shall have absolute and uncontrolled discretion as to the exercise of the discretions vested in the Note Trustee by this Deed, the Note Conditions and the Documents (the exercise of which as between the Note Trustee and the Noteholders and other parties thereto shall be conclusive and binding on the Noteholders and other parties thereto) but whenever the Note Trustee is under the provisions of this Deed, the Note Conditions or the Documents bound to act at the request or direction of the Noteholders, or any of them, or any other relevant party, the Note Trustee shall nevertheless not be so bound unless first indemnified to its satisfaction against all actions, proceedings, claims and demands to which it may render itself liable and all costs, charges, damages, expenses and liabilities which it may incur by so doing.