Common use of ENFORCEMENT OF SECURITY AND DEALINGS WITH TRUSTEE Clause in Contracts

ENFORCEMENT OF SECURITY AND DEALINGS WITH TRUSTEE. 10.1 HML agrees with the Issuer and the Trustee that only the Trustee is entitled to enforce the security created in favour of the Trustee by or pursuant to the Deed of Charge in accordance with the provisions of the Deed of Charge and that whilst any of the security created by or pursuant to the Deed of Charge subsists or is enforceable: 10.1.1 HML shall not have any right to take any steps whatsoever to enforce the security created by or pursuant to the Deed of Charge or to direct the Trustee to do so; 10.1.2 HML shall not have any right to take any steps for the purpose of obtaining payment of any moneys due and payable to it pursuant to this Agreement; and 10.1.3 HML shall not take any steps to recover any other debts whatsoever owing to it by the Issuer or procure the appointment of an administrative receiver or administrator in respect of or the making of an administration order against or the winding up or liquidation of the Issuer in respect of any of its liabilities whatsoever, 10.2 HML acknowledges that the Trustee shall not be bound to take any steps or institute any proceedings after the security created by or pursuant to the Deed of Charge has become enforceable or take any other action to enforce the security constituted by the Deed of Charge unless the Trustee shall have been indemnified and/or secured and/or prefunded to the Trustee's satisfaction against all actions, proceedings, claims and demands to which it may thereby render itself liable and all costs, charges, damages and expenses which it may incur by so doing. 10.3 Subject to the provisions of this Agreement, HML agrees with the Issuer and the Trustee to be bound by the terms of the Deed of Charge. 10.4 HML may agree with the Trustee, subject to the then ratings of the Notes being unaffected: 10.4.1 alternative arrangements in relation to the Transaction Account and/or the Collection Accounts (including arrangements for moving the Transaction Account and/or the Collection Accounts to HML or another bank) and all other accounts of the Issuer in accordance with the terms of clause 6.5 of the Administration Agreement as it considers necessary; and 10.4.2 to remove all or any of the Borrowers under the Mortgages from the Direct Debiting Scheme and to reinstate the Direct Debiting Scheme in respect of all or any of them on such amended or other basis as it thinks fit.

ENFORCEMENT OF SECURITY AND DEALINGS WITH TRUSTEE. 10.1 HML agrees with the Issuer and the Trustee that only the Trustee is entitled to enforce the security created in favour of the Trustee by or pursuant to the Deed of Charge in accordance with the provisions of the Deed of Charge and that whilst any of the security created by or pursuant to the Deed of Charge subsists or is enforceable: 10.1.1 HML shall not have any right to take any steps whatsoever to enforce the security created by or pursuant to the Deed of Charge or to direct the Trustee to do so; 10.1.2 HML shall not have any right to take any steps for the purpose of obtaining payment of any moneys due and payable to it pursuant to this Agreement; and 10.1.3 HML shall not take any steps to recover any other debts whatsoever owing to it by the Issuer or procure the appointment of an administrative receiver or administrator in respect of or the making of an administration order against or the winding up or liquidation of the Issuer in respect of any of its liabilities whatsoever, 10.2 HML acknowledges that the Trustee shall not be bound to take any steps or institute any proceedings after the security created by or pursuant to the Deed of Charge has become enforceable or take any other action to enforce the security constituted by the Deed of Charge unless the Trustee shall have been indemnified and/or secured and/or prefunded to the Trustee's satisfaction against all actions, proceedings, claims and demands to which it may thereby render itself liable and all costs, charges, damages and expenses which it may incur by so doing. 10.3 Subject to the provisions of this Agreement, HML agrees with the Issuer and the Trustee to be bound by the terms of the Deed of Charge. 10.4 HML may agree with the Trustee, subject to the then ratings of the Notes being unaffected: 10.4.1 alternative arrangements in relation to the Transaction Account and/or the Collection Accounts (including arrangements for moving the Transaction Account and/or the Collection Accounts to HML or another bank) and all other accounts of the Issuer in accordance with the terms of clause Clause 6.5 of the Administration Agreement as it considers necessary; and 10.4.2 to remove all or any of the Borrowers under the Mortgages from the Direct Debiting Scheme and to reinstate the Direct Debiting Scheme in respect of all or any of them on such amended or other basis as it thinks fit.

ENFORCEMENT OF SECURITY AND DEALINGS WITH TRUSTEE. 10.1 HML agrees with the Issuer and the Trustee that only the Trustee is entitled to enforce the security created in favour of the Trustee by or pursuant to the Deed of Charge in accordance with the provisions of the Deed of Charge and that whilst any of the security created by or pursuant to the Deed of Charge subsists or is enforceable: 10.1.1 HML shall not have any right to take any steps whatsoever to enforce the security created by or pursuant to the Deed of Charge or to direct the Trustee to do so; 10.1.2 HML shall not have any right to take any steps for the purpose of obtaining payment of any moneys due and payable to it pursuant to this Agreement; and 10.1.3 HML shall not take any steps to recover any other debts whatsoever owing to it by the Issuer or procure the appointment of an administrative receiver or administrator in respect of or the making of an administration order against or the winding up or liquidation of the Issuer in respect of any of its liabilities whatsoever, 10.2 HML acknowledges that the Trustee shall not be bound to take any steps or institute any proceedings after the security created by or pursuant to the Deed of Charge has become enforceable or take any other action to enforce the security constituted by the Deed of Charge unless the Trustee shall have been indemnified and/or secured and/or prefunded to the Trustee's satisfaction against all actions, proceedings, claims and demands to which it may thereby render itself liable and all costs, charges, damages and expenses which it may incur by so doing. 10.3 Subject to the provisions of this Agreement, HML agrees with the Issuer and the Trustee to be bound by the terms of the Deed of Charge. 10.4 HML may agree with the Trustee, subject to the then ratings of the Notes being unaffected: 10.4.1 alternative arrangements in relation to the Transaction Account and/or the Collection Accounts Account (including arrangements for moving the Transaction Account and/or the Collection Accounts Account to HML or another bank) and all other accounts of the Issuer in accordance with the terms of clause 6.5 6.6 of the Administration Agreement as it considers necessary; and 10.4.2 to remove all or any of the Borrowers under the Mortgages from the Direct Debiting Scheme and to reinstate the Direct Debiting Scheme in respect of all or any of them on such amended or other basis as it thinks fit.

ENFORCEMENT OF SECURITY AND DEALINGS WITH TRUSTEE. 10.1 HML agrees with the Issuer and the Trustee that only the Trustee is entitled to enforce the security created in favour of the Trustee by or pursuant to the Deed of Charge in accordance with the provisions of the Deed of Charge and that whilst any of the security created by or pursuant to the Deed of Charge subsists or is enforceable: 10.1.1 HML shall not have any right to take any steps whatsoever to enforce the security created by or pursuant to the Deed of Charge or to direct the Trustee to do so; 10.1.2 HML shall not have any right to take any steps for the purpose of obtaining payment of any moneys due and payable to it pursuant to this Agreement; and 10.1.3 HML shall not take any steps to recover any other debts whatsoever owing to it by the Issuer or procure the appointment of an administrative receiver or administrator in respect of or the making of an administration order against or the winding up or liquidation of the Issuer in respect of any of its liabilities whatsoever,, enforce the same but has failed to do so within a reasonable time and such failure is continuing, HML shall be entitled to take such steps as it shall deem necessary to enforce its rights hereunder to payment of any sum following the due date for payment of such sum. 10.2 HML acknowledges that the Trustee shall not be bound to take any steps or institute any proceedings after the security created by or pursuant to the Deed of Charge has become enforceable or take any other action to enforce the security constituted by the Deed of Charge unless the Trustee shall have been indemnified and/or secured and/or prefunded to the Trustee's satisfaction against all actions, proceedings, claims and demands to which it may thereby render itself liable and all costs, charges, damages and expenses which it may incur by so doing. 10.3 Subject to the provisions of this Agreement, HML agrees with the Issuer and the Trustee to be bound by the terms of the Deed of Charge. 10.4 HML may agree with the Trustee, subject to the then ratings rating of the Notes being unaffected: 10.4.1 alternative arrangements in relation to the Transaction Account and/or the Collection Accounts Account (including arrangements for moving the Transaction Account and/or the Collection Accounts Account to HML or another bank) and all other accounts of the Issuer in accordance with the terms of clause 6.5 6.6 of the Administration Agreement as it considers necessary; and 10.4.2 to remove all or any of the Borrowers under the Mortgages from the Direct Debiting Scheme and to reinstate the Direct Debiting Scheme in respect of all or any of them on such amended or other basis as it thinks fit.

ENFORCEMENT OF SECURITY AND DEALINGS WITH TRUSTEE. 10.1 HML agrees with the Issuer and the Trustee that only the Trustee is entitled to enforce the security created in favour of the Trustee by or pursuant to the Deed of Charge in accordance with the provisions of the Deed of Charge and that whilst any of the security created by or pursuant to the Deed of Charge subsists or is enforceable: 10.1.1 HML shall not have any right to take any steps whatsoever to enforce the security created by or pursuant to the Deed of Charge or to direct the Trustee to do so; 10.1.2 HML shall not have any right to take any steps for the purpose of obtaining payment of any moneys due and payable to it pursuant to this Agreement; and 10.1.3 HML shall not take any steps to recover any other debts whatsoever owing to it by the Issuer or procure the appointment of an administrative receiver or administrator in respect of or the making of an administration order against or the winding up or liquidation of the Issuer in respect of any of its liabilities whatsoever, 10.2 HML acknowledges that the Trustee shall not be bound to take any steps or institute any proceedings after the security created by or pursuant to the Deed of Charge has become enforceable or take any other action to enforce the security constituted by the Deed of Charge unless the Trustee shall have been indemnified and/or secured and/or prefunded to the Trustee's satisfaction against all actions, proceedings, claims and demands to which it may thereby render itself liable and all costs, charges, damages and expenses which it may incur by so doing. 10.3 Subject to the provisions of this Agreement, HML agrees with the Issuer and the Trustee to be bound by the terms of the Deed of Charge. 10.4 HML may agree with the Trustee, subject to the then ratings of the Notes being unaffected: 10.4.1 alternative arrangements in relation to the Transaction Account and/or the Collection Accounts (including arrangements for moving the Transaction Account and/or the Collection Accounts to HML or another bank) and all other accounts of the Issuer in accordance with the terms of clause 6.5 (Rating and the Transaction Account and the Collection Accounts) of the Administration Agreement as it considers necessary; and 10.4.2 to remove all or any of the Borrowers under the Mortgages from the Direct Debiting Scheme and to reinstate the Direct Debiting Scheme in respect of all or any of them on such amended or other basis as it thinks fit.