Common use of Election of Common Safekeeper Clause in Contracts

Election of Common Safekeeper. The Issuer hereby authorises and instructs the Registrar to elect an ICSD to be Common Safekeeper for the Class A Notes. From time to time, the Issuer and the Registrar may agree to vary this election. The Issuer acknowledges that in connection with the election of either of the ICSDs as Common Safekeeper any such election is subject to the right of the ICSDs to jointly determine that the other shall act as Common Safekeeper in relation to any such issue and agrees that no liability shall attach to the Registrar in respect of any such election made by it.

Election of Common Safekeeper. The Issuer hereby authorises and instructs the Registrar to elect an ICSD to be Common Safekeeper for the Class A A1 Notes and for the Class A2 Notes. From time to time, the Issuer and the Registrar may agree to vary this election. The Issuer acknowledges that in connection with the election of either of the ICSDs as Common Safekeeper any such election is subject to the right of the ICSDs to jointly determine that the other shall act as Common Safekeeper in relation to any such issue and agrees that no liability shall attach to the Registrar in respect of any such election made by it.