Common use of LIMITATION OF LIABILITY - ISSUER Clause in Contracts

LIMITATION OF LIABILITY - ISSUER. (a) Clause 26 of the Master Trust Deed applies to the obligations and liabilities of the Issuer and SF Manager under this agreement. (b) The Issuer enters into this agreement in its capacity as trustee of the Securitisation Fund and in no other capacity (except where the Transaction Documents provide otherwise). Subject to clause 11.1(d), a liability of the Issuer arising under or in connection with this agreement or the Securitisation Fund is limited to and can be enforced against the Issuer only to the extent to which it can be satisfied out of the assets and property of the Securitisation Fund which are available to satisfy the right of the Issuer to be exonerated or indemnified for the liability. This limitation of the Issuer's liability applies despite any other provision of this agreement and extends to all liabilities and obligations of the Issuer in any way connected with any representation, warranty, conduct, omission, agreement or transaction related to this agreement or the Securitisation Fund. (c) Subject to clause 11.1(d), no person (including any Relevant Party) may take action against the Issuer in any capacity other than as trustee of the Securitisation Fund or seek the appointment of a receiver (except under the Security Trust Deed), or a liquidator, an administrator or any similar person to the Issuer or prove in any liquidation, administration or arrangement of or affecting the Issuer (except in relation to the assets of the Securitisation Fund). (d) The provisions of this clause 11.1 shall not apply to any obligation or liability of the Issuer to the extent that it is not satisfied because under a Transaction Document or by operation of law there is a reduction in the extent of the Issuer's indemnification or exoneration out of the assets of the Securitisation Fund, as a result of the Issuer's fraud, negligence or wilful default. Top-up Funding Facility Agreement - SMHL Global Fund [ ]-[ ] (e) It is acknowledged that the Relevant Parties are responsible under this agreement or the other Transaction Documents for performing a variety of obligations relating to the Securitisation Fund. No act or omission of the Issuer (including any related failure to satisfy its obligations under this agreement) will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d) to the extent to which the act or omission was caused or contributed to by any failure by any Relevant Party or any other person who has been delegated or appointed by the Issuer in accordance with the Transaction Documents to fulfil its obligations relating to the Securitisation Fund or by any other act or omission of a Relevant Party or any other person. (f) No attorney, agent, receiver or receiver and manager appointed in accordance with this agreement or any other Transaction Document has authority to act on behalf of the Issuer in a way which exposes the Issuer to any personal liability and no act or omission of any such person will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d). (g) In this clause 11.1, RELEVANT PARTIES means any party to a Transaction Document other than the Issuer. (h) The Issuer is not obliged to do or refrain from doing anything under this agreement (including incur any liability) unless the Issuer's liability is limited in the same manner as set out in clauses 11.1(b) to 11.1(f).

LIMITATION OF LIABILITY - ISSUER. (a) Clause 26 of the Master Trust Deed applies to the obligations and liabilities of the Issuer and SF Manager under this agreement. (b) The Issuer enters into this agreement in its capacity as trustee of the Securitisation Fund and in no other capacity (except where the Transaction Documents provide otherwise). Subject to clause 11.1(d)) below, a liability of the Issuer arising under or in connection with this agreement or the Securitisation Fund is limited to and can be enforced against the Issuer only to the extent to which it can be satisfied out of the assets and property of the Securitisation Fund which are available to satisfy the right of the Issuer to be exonerated or indemnified for the liability. This limitation of the Issuer's liability applies despite any other provision of this agreement and extends to all liabilities and obligations of the Issuer in any way connected with any representation, warranty, conduct, omission, agreement or transaction related to this agreement or the Securitisation Fund.. -------------------------------------------------------------------------------- Freehills Sydney\004832904 PAGE 17 (c) Subject to clause 11.1(d)) below, no person (including any Relevant Party) may take action against the Issuer in any capacity other than as trustee of the Securitisation Fund or seek the appointment of a receiver (except under the Security Trust Deed), or a liquidator, an administrator or any similar person to the Issuer or prove in any liquidation, administration or arrangement of or affecting the Issuer (except in relation to the assets of the Securitisation Fund). (d) The provisions of this clause 11.1 shall not apply to any obligation or liability of the Issuer to the extent that it is not satisfied because under a Transaction Document or by operation of law there is a reduction in the extent of the Issuer's indemnification or exoneration out of the assets of the Securitisation Fund, as a result of the Issuer's fraud, negligence or wilful default. Top-up Funding Facility Agreement - SMHL Global Fund [ ]-[ ]. (e) It is acknowledged that the Relevant Parties are responsible under this agreement or the other Transaction Documents for performing a variety of obligations relating to the Securitisation Fund. No act or omission of the Issuer (including any related failure to satisfy its obligations under this agreement) will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d) above to the extent to which the act or omission was caused or contributed to by any failure by any Relevant Party or any other person who has been delegated or appointed by the Issuer in accordance with the Transaction Documents to fulfil its obligations relating to the Securitisation Fund or by any other act or omission of a Relevant Party or any other person. (f) No attorney, agent, receiver or receiver and manager appointed in accordance with this agreement or any other Transaction Document has authority to act on behalf of the Issuer in a way which exposes the Issuer to any personal liability and no act or omission of any such person will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d)) above. (g) In this clause 11.1, RELEVANT PARTIES 11.1 Relevant Parties means any party to a Transaction Document other than the Issuer. (h) The Issuer is not obliged to do or refrain from doing anything under this agreement (including incur any liability) unless the Issuer's liability is limited in the same manner as set out in clauses 11.1(b) to 11.1(f).

LIMITATION OF LIABILITY - ISSUER. (a) Clause 26 of the Master Trust Deed applies to the obligations and liabilities of the Issuer and SF Manager under this agreement. (b) The Issuer enters into this agreement in its capacity as trustee of the Securitisation Fund and in no other capacity (except where the Transaction Documents provide otherwise). Subject to clause 11.1(d)10.1(d) below, a liability of the Issuer arising under or in connection with this agreement or the Securitisation Fund is limited to and can be enforced against the Issuer only to the extent to which it can be satisfied out of the assets and property of the Securitisation Fund which are available to satisfy the right of the Issuer to be exonerated or indemnified for the liability. This limitation of the Issuer's liability applies despite any other provision of this agreement and extends to all liabilities and obligations of the Issuer in any way connected with any representation, warranty, conduct, omission, agreement or transaction related to this agreement or the Securitisation Fund. (c) Subject to clause 11.1(d)10.1(d) below, no person (including any Relevant Party) may take action against the Issuer in any capacity other than as trustee of the Securitisation Fund or seek the appointment of a receiver (except under the Security Trust Deed), or a liquidator, an administrator or any similar person to the Issuer or prove in any liquidation, administration or arrangement of or affecting the Issuer (except in relation to the assets of the Securitisation Fund). (d) The provisions of this clause 11.1 10.1 shall not apply to any obligation or liability of the Issuer to the extent that it is not satisfied because under a Transaction Document or by operation of law there is a reduction in the extent of the Issuer's indemnification or exoneration out of the assets of the Securitisation Fund, as a result of the Issuer's fraud, negligence or wilful default. Top-up Funding Facility Agreement - SMHL Global Fund [ ]-[ ]. (e) It is acknowledged that the Relevant Parties are responsible under this agreement or the other Transaction Documents for performing a variety of obligations relating to the Securitisation Fund. No act or omission of the Issuer (including any related failure to satisfy its obligations under this agreement) will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d10.1(d) above to the extent to which the act or omission was caused or contributed to by any failure by any Relevant Party or any other person who has been delegated or appointed by the Issuer in accordance with the Transaction Documents to fulfil its obligations relating to the Securitisation Fund or by any other act or omission of a Relevant Party or any other person. (f) No attorney, agent, receiver or receiver and manager appointed in accordance with this agreement or any other Transaction Document has authority to act on behalf of the Issuer in a way which exposes the Issuer to any personal liability and no act or omission of any such person will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d)10.1(d) above. (g) In this clause 11.1, RELEVANT PARTIES 10.1 Relevant Parties means any party to a Transaction Document other than the Issuer. (h) The Issuer is not obliged to do or refrain from doing anything under this agreement (including incur any liability) unless the Issuer's liability is limited in the same manner as set out in clauses 11.1(bparagraphs (b) to 11.1(f)(d) of this clause.

LIMITATION OF LIABILITY - ISSUER. (a) Clause 26 of the Master Trust Deed applies to the obligations and liabilities of the Issuer and SF Manager under this agreement. (b) The Issuer enters into this agreement in its capacity as trustee of the Securitisation Fund and in no other capacity (except where the Transaction Documents provide otherwise). Subject to clause 11.1(d)10.1(d) below, a liability of the Issuer arising under or in connection with this agreement or the Securitisation Fund is limited to and can be enforced against the Issuer only to the extent to which it can be satisfied out of the assets and property of the Securitisation Fund which are available to satisfy the right of the Issuer to be exonerated or indemnified for the liability. This limitation of the Issuer's ’s liability applies despite any other provision of this agreement and extends to all liabilities and obligations of the Issuer in any way connected with any representation, warranty, conduct, omission, agreement or transaction related to this agreement or the Securitisation Fund. (c) Subject to clause 11.1(d10.1(d), no person (including any Relevant Party) may take action against the Issuer in any capacity other than as trustee of the Securitisation Fund or seek the appointment of a receiver (except under the Security Trust Deed), or a liquidator, an administrator or any similar person to the Issuer or prove in any liquidation, administration or arrangement of or affecting the Issuer (except in relation to the assets of the Securitisation Fund). (d) The provisions of this clause 11.1 10.1 shall not apply to any obligation or liability of the Issuer to the extent that it is not satisfied because under a Transaction Document or by operation of law there is a reduction in the extent of the Issuer's ’s indemnification or exoneration out of the assets of the Securitisation Fund, as a result of the Issuer's ’s fraud, negligence or wilful default. Top-up Funding Facility Agreement - SMHL Global Fund [ ]-[ ]. (e) It is acknowledged that the Relevant Parties are responsible under this agreement or the other Transaction Documents for performing a variety of obligations relating to the Securitisation Fund. No act or omission of the Issuer (including any related failure to satisfy its obligations under this agreement) will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d10.1(d) to the extent to which the act or omission was caused or contributed to by any failure by any Relevant Party or any other person who has been delegated or appointed by the Issuer in accordance with the Transaction Documents to fulfil its obligations relating to the Securitisation Fund or by any other act or omission of a Relevant Party or any other person. (f) No attorney, agent, receiver or receiver and manager appointed in accordance with this agreement or any other Transaction Document has authority to act on behalf of the Issuer in a way which exposes the Issuer to any personal liability and no act or omission of any such person will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d10.1(d). (g) In this clause 11.110.1, RELEVANT PARTIES Relevant Parties means any party to a Transaction Document other than the Issuer. (h) The Issuer is not obliged to do or refrain from doing anything under this agreement (including incur any liability) unless the Issuer's ’s liability is limited in the same manner as set out in clauses 11.1(b10.1(b) to 11.1(f10.1(f).

LIMITATION OF LIABILITY - ISSUER. (a) Clause 26 of the Master Trust Deed applies to the obligations and liabilities of the Issuer and SF Manager under this agreement. (b) The Issuer enters into this agreement in its capacity as trustee of the Securitisation Fund and in no other capacity (except where the Transaction Documents provide otherwise). Subject to clause 11.1(d), a liability of the Issuer arising under or in connection with this agreement or the -------------------------------------------------------------------------------- Page 25 Redraw Funding Facility Agreement - SMHL Global Fund [ ]-[ ] Securitisation Fund is limited to and can be enforced against the Issuer only to the extent to which it can be satisfied out of the assets and property of the Securitisation Fund which are available to satisfy the right of the Issuer to be exonerated or indemnified for the liability. This limitation of the Issuer's liability applies despite any other provision of this agreement and extends to all liabilities and obligations of the Issuer in any way connected with any representation, warranty, conduct, omission, agreement or transaction related to this agreement or the Securitisation Fund. (c) Subject to clause 11.1(d), no person (including any Relevant Party) may take action against the Issuer in any capacity other than as trustee of the Securitisation Fund or seek the appointment of a receiver (except under the Security Trust Deed), or a liquidator, an administrator or any similar person to the Issuer or prove in any liquidation, administration or arrangement of or affecting the Issuer (except in relation to the assets of the Securitisation Fund). (d) The provisions of this clause 11.1 shall not apply to any obligation or liability of the Issuer to the extent that it is not satisfied because under a Transaction Document or by operation of law there is a reduction in the extent of the Issuer's indemnification or exoneration out of the assets of the Securitisation Fund, as a result of the Issuer's fraud, negligence or wilful default. Top-up Funding Facility Agreement - SMHL Global Fund [ ]-[ ]. (e) It is acknowledged that the Relevant Parties are responsible under this agreement or the other Transaction Documents for performing a variety of obligations relating to the Securitisation Fund. No act or omission of the Issuer (including any related failure to satisfy its obligations under this agreement) will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d) to the extent to which the act or omission was caused or contributed to by any failure by any Relevant Party or any other person who has been delegated or appointed by the Issuer in accordance with the Transaction Documents to fulfil its obligations relating to the Securitisation Fund or by any other act or omission of a Relevant Party or any other person. (f) No attorney, agent, receiver or receiver and manager appointed in accordance with this agreement or any other Transaction Document has authority to act on behalf of the Issuer in a way which exposes the Issuer to any personal liability and no act or omission of any such person will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d). (g) In this clause 11.1, RELEVANT PARTIES means any party to a Transaction Document other than the Issuer. (h) The Issuer is not obliged to do or refrain from doing anything under this agreement (including incur any liability) unless the Issuer's liability is limited in the same manner as set out in clauses 11.1(b) to 11.1(f).

LIMITATION OF LIABILITY - ISSUER. (a) Clause 26 of the Master Trust Deed applies to the obligations and liabilities of the Issuer and SF Manager under this agreement. (b) The Issuer enters into this agreement in its capacity as trustee of the Securitisation Fund and in no other capacity (except where the Transaction Documents provide otherwise). Subject to clause 11.1(d)10.1(d) below, a liability of the Issuer arising under or in connection with this agreement or the Securitisation Fund is limited to and can be enforced against the Issuer only to the extent to which it can be satisfied out of the assets and property of the Securitisation Fund which are available to satisfy the right of the Issuer to be exonerated or indemnified for the liability. This limitation of the Issuer's liability applies despite any other provision of this agreement and extends to all liabilities and obligations of the Issuer in any way connected with any representation, warranty, conduct, omission, agreement or transaction related to this agreement or the Securitisation Fund. (c) Subject to clause 11.1(d)10.1(d) below, no person (including any Relevant Party) may take action against the Issuer in any capacity other than as trustee of the Securitisation Fund or seek the appointment of a receiver (except under the Security Trust Deed), or a liquidator, an administrator or any similar person to the Issuer or prove in any liquidation, administration or arrangement of or affecting the Issuer (except in relation to the assets of the Securitisation Fund). (d) The provisions of this clause 11.1 10.1 shall not apply to any obligation or liability of the Issuer to the extent that it is not satisfied because under a Transaction Document or by operation of law there is a reduction in the extent of the Issuer's indemnification or exoneration out of the assets of the Securitisation Fund, as a result of the Issuer's fraud, negligence or wilful default. Top-up Funding Facility Agreement - SMHL Global Fund [ ]-[ ]. (e) It is acknowledged that the Relevant Parties are responsible under this agreement or the other Transaction Documents for performing a variety of obligations relating to the Securitisation Fund. No act or omission of the Issuer (including any related failure to satisfy its obligations under this agreement) will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d10.1(d) above to the extent to which the act or omission was caused or contributed to by any failure by any Relevant Party or any other person who has been delegated or appointed by the Issuer in accordance with the Transaction Documents to fulfil its obligations relating to the Securitisation Fund or by any other act or omission of a Relevant Party or any other person. (f) No attorney, agent, receiver or receiver and manager appointed in accordance with this agreement or any other Transaction Document has authority to act on behalf of the Issuer in a way which exposes the Issuer to any personal liability and no act or omission of any such person will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d).10.1(d) above. -------------------------------------------------------------------------------- Freehills Sydney\004679447 Printed 25 August 2004 (12:36) PAGE 18 Payment Funding Facility Agreement - SMHL Global Fund No. 7 (g) In this clause 11.1, RELEVANT PARTIES 10.1 Relevant Parties means any party to a Transaction Document other than the Issuer. (h) The Issuer is not obliged to do or refrain from doing anything under this agreement (including incur any liability) unless the Issuer's liability is limited in the same manner as set out in clauses 11.1(b) to 11.1(f).

LIMITATION OF LIABILITY - ISSUER. (a) Clause 26 of the Master Trust Deed applies to the obligations and liabilities of the Issuer and SF Manager under this agreement. (b) The Issuer enters into this agreement in its capacity as trustee of the Securitisation Fund and in no other capacity (except where the Transaction Documents provide otherwise). Subject to clause 11.1(d), a liability of the Issuer arising under or in connection with this agreement or the Securitisation Fund is limited to and can be enforced against the Issuer only to the extent to which it can be satisfied out of the assets and property of the Securitisation Fund which are available to satisfy the right of the Issuer to be exonerated or indemnified for the liability. This limitation of the Issuer's ’s liability applies despite any other provision of this agreement and extends to all liabilities and obligations of the Issuer in any way connected with any representation, warranty, conduct, omission, agreement or transaction related to this agreement or the Securitisation Fund. (c) Subject to clause 11.1(d), no person (including any Relevant Party) may take action against the Issuer in any capacity other than as trustee of the Securitisation Fund or seek the appointment of a receiver (except under the Security Trust Deed), or a liquidator, an administrator or any similar person to the Issuer or prove in any liquidation, administration or arrangement of or affecting the Issuer (except in relation to the assets of the Securitisation Fund). (d) The provisions of this clause 11.1 shall not apply to any obligation or liability of the Issuer to the extent that it is not satisfied because under a Transaction Document or by operation of law there is a reduction in the extent of the Issuer's ’s indemnification or exoneration out of the assets of the Securitisation Fund, as a result of the Issuer's ’s fraud, negligence or wilful default. Top-up Funding Facility Agreement - SMHL Global Fund [ ]-[ ]. (e) It is acknowledged that the Relevant Parties are responsible under this agreement or the other Transaction Documents for performing a variety of obligations relating to the Securitisation Fund. No act or omission of the Issuer (including any related failure to satisfy its obligations under this agreement) will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d) to the extent to which the act or omission was caused or contributed to by any failure by any Relevant Party or any other person who has been delegated or appointed by the Issuer in accordance with the Transaction Documents to fulfil its obligations relating to the Securitisation Fund or by any other act or omission of a Relevant Party or any other person. (f) No attorney, agent, receiver or receiver and manager appointed in accordance with this agreement or any other Transaction Document has authority to act on behalf of the Issuer in a way which exposes the Issuer to any personal liability and no act or omission of any such person will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d). (g) In this clause 11.1, RELEVANT PARTIES Relevant Parties means any party to a Transaction Document other than the Issuer. (h) The Issuer is not obliged to do or refrain from doing anything under this agreement (including incur any liability) unless the Issuer's liability is limited in the same manner as set out in clauses 11.1(b) to 11.1(f).

LIMITATION OF LIABILITY - ISSUER. (a) Clause 26 of the Master Trust Deed applies to the obligations and liabilities of the Issuer and SF Manager under this agreement. (b) The Issuer enters into this agreement in its capacity as trustee of the Securitisation Fund and in no other capacity (except where the Transaction Documents provide otherwise). Subject to clause 11.1(d)) below, a liability of the Issuer arising under or in connection with this agreement or the Securitisation Fund is limited to and can be enforced against the Issuer only to the extent to which it can be satisfied out of the assets and property of the Securitisation Fund which are available to satisfy the right of the Issuer to be exonerated or indemnified for the liability. This limitation of the Issuer's liability applies despite any other provision of this agreement and extends to all liabilities and obligations of the Issuer in any way connected with any representation, warranty, conduct, omission, agreement or transaction related to this agreement or the Securitisation Fund. (c) Subject to clause 11.1(d)) below, no person (including any Relevant Party) may take action against the Issuer in any capacity other than as trustee of the Securitisation Fund or seek the appointment of a receiver (except under the Security Trust Deed), or a liquidator, an administrator or any similar person to the Issuer or prove in any liquidation, administration or arrangement of or affecting the Issuer (except in relation to the assets of the Securitisation Fund). (d) The provisions of this clause 11.1 shall not apply to any obligation or liability of the Issuer to the extent that it is not satisfied because under a Transaction Document or by operation of law there is a reduction in the extent of the Issuer's indemnification or exoneration out of the assets of the Securitisation Fund, as a result of the Issuer's fraud, negligence or wilful default. Top-up Funding Facility Agreement - SMHL Global Fund [ ]-[ ]. (e) It is acknowledged that the Relevant Parties are responsible under this agreement or the other Transaction Documents for performing a variety of obligations relating to the Securitisation Fund. No act or omission of the Issuer (including any related failure to satisfy its obligations under this agreement) will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d) above to the extent to which the act or omission was caused or contributed to by any failure by any Relevant Party or any other person who has been delegated or appointed by the Issuer in accordance with the Transaction Documents to fulfil its obligations relating to the Securitisation Fund or by any other act or omission of a Relevant Party or any other person. (f) No attorney, agent, receiver or receiver and manager appointed in accordance with this agreement or any other Transaction Document has authority to act on behalf of the Issuer in a way which exposes the Issuer to any personal liability and no act or omission of any such person will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d)) above. (g) In this clause 11.1, RELEVANT PARTIES 11.1 Relevant Parties means any party to a Transaction Document other than the Issuer. (h) The Issuer is not obliged to do or refrain from doing anything under this agreement (including incur any liability) unless the Issuer's liability is limited in the same manner as set out in clauses 11.1(b) to 11.1(f).

LIMITATION OF LIABILITY - ISSUER. (a) Clause 26 of the Master Trust Deed applies to the obligations and liabilities of the Issuer and SF Manager under this agreement. (b) The Issuer enters into this agreement only in its capacity as trustee of the Securitisation Fund and in no other capacity (except where the Transaction Documents provide otherwise)capacity. Subject to clause 11.1(d), a A liability of the Issuer arising under or in connection with this agreement or the Securitisation Fund is limited to and can be enforced against the Issuer only to the extent to which it can be satisfied out of the assets and property of the Securitisation Fund out of which are available to satisfy the right of the Issuer to be exonerated or is actually indemnified for the liability. This limitation of the Issuer's liability applies despite any other provision of this agreement and extends to all liabilities and obligations of the Issuer in any way connected with any representation, warranty, conduct, omission, agreement or transaction related to this agreement or the Securitisation Fund.agreement. Payment Funding Facility (cb) Subject to clause 11.1(d), no person (including any Relevant Party) The parties other than the Issuer may take action against not xxx the Issuer in any capacity other than as trustee of the Securitisation Fund or seek the appointment of a receiver (except under in relation to property of the Security Trust DeedSecuritisation Fund), or a liquidator, an administrator or any similar person to the Issuer or prove in any liquidation, administration or arrangement of or affecting the Issuer (except in relation to the assets property of the Securitisation Fund). (dc) The provisions of this clause 11.1 10.1 shall not apply to any obligation or liability of the Issuer to the extent that it is not satisfied because under a Transaction Document the Master Trust Deed establishing the Securitisation Fund or by operation of law there is a reduction in the extent of the Issuer's indemnification or exoneration out of the assets of the Securitisation Fund, as a result of the Issuer's fraud, negligence or wilful default. Top-up Funding Facility Agreement - SMHL Global Fund [ ]-[ ]. (ed) It is acknowledged that the Relevant Parties are SF Manager is responsible under this agreement or the other Transaction Documents Master Trust Deed establishing the Securitisation Fund for performing a variety of obligations relating to the Securitisation Fund, including under this agreement. No act or omission of the Issuer (including any related failure to satisfy its obligations or breach of representation or warranty under this agreement) will be considered fraud, negligence or wilful default of the Issuer for the purposes of paragraph (c) of this clause 11.1(d) 10.1 to the extent to which the act or omission was caused or contributed to by any failure by any Relevant Party the SF Manager or any other person who has been delegated or appointed by the Issuer in accordance with the Transaction Documents to fulfil its obligations relating to the Securitisation Fund or by any other act or omission of a Relevant Party the SF Manager or any other person. (fe) No attorney, agent, receiver or receiver and manager appointed in accordance with this agreement or any other Transaction Document has authority to act on behalf of the Issuer Trustee in a way which exposes the Issuer to any personal liability and no act or omission of any such person will be considered fraud, negligence or wilful default of the Issuer for the purposes of paragraph (c) of this clause 11.1(d)10.1. (g) In this clause 11.1, RELEVANT PARTIES means any party to a Transaction Document other than the Issuer. (hf) The Issuer is not obliged to do or refrain from doing anything under this agreement (including incur any liability) unless the Issuer's liability is limited in the same manner as set out in clauses 11.1(bparagraphs (a) to 11.1(f)(c) of this clause.

LIMITATION OF LIABILITY - ISSUER. (a) Clause 26 of the Master Trust Deed applies to the obligations and liabilities of the Issuer and SF Manager under this agreement. (b) The Issuer enters into this agreement in its capacity as trustee of the Securitisation Fund and in no other capacity (except where the Transaction Documents provide otherwise). Subject to clause 11.1(d), a liability of the Issuer arising under or in connection with this agreement or the Securitisation Fund is limited to and can be enforced against the Issuer only to the extent to which it can be satisfied out of the assets and property of the Securitisation Fund which are available to satisfy the right of the Issuer to be exonerated or indemnified for the liability. This limitation of the Issuer's ’s liability applies despite any other provision of this agreement and extends to all liabilities and obligations of the Issuer in any way connected with any representation, warranty, conduct, omission, agreement or transaction related to this agreement or the Securitisation Fund. (c) Subject to clause 11.1(d), no person (including any Relevant Party) may take action against the Issuer in any capacity other than as trustee of the Securitisation Fund or seek the appointment of a receiver (except under the Security Trust Deed), or a liquidator, an administrator or any similar person to the Issuer or prove in any liquidation, administration or arrangement of or affecting the Issuer (except in relation to the assets of the Securitisation Fund). (d) The provisions of this clause 11.1 shall not apply to any obligation or liability of the Issuer to the extent that it is not satisfied because under a Transaction Document or by operation of law there is a reduction in the extent of the Issuer's ’s indemnification or exoneration out of the assets of the Securitisation Fund, as a result of the Issuer's ’s fraud, negligence or wilful default. Top-up Funding Facility Agreement - SMHL Global Fund [ ]-[ ]. (e) It is acknowledged that the Relevant Parties are responsible under this agreement or the other Transaction Documents for performing a variety of obligations relating to the Securitisation Fund. No act or omission of the Issuer (including any related failure to satisfy its obligations under this agreement) will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d) to the extent to which the act or omission was caused or contributed to by any failure by any Relevant Party or any other person who has been delegated or appointed by the Issuer in accordance with the Transaction Documents to fulfil its obligations relating to the Securitisation Fund or by any other act or omission of a Relevant Party or any other person. (f) No attorney, agent, receiver or receiver and manager appointed in accordance with this agreement or any other Transaction Document has authority to act on behalf of the Issuer in a way which exposes the Issuer to any personal liability and no act or omission of any such person will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d). (g) In this clause 11.1, RELEVANT PARTIES Relevant Parties means any party to a Transaction Document other than the Issuer. (h) The Issuer is not obliged to do or refrain from doing anything under this agreement (including incur any liability) unless the Issuer's liability is limited in the same manner as set out in clauses 11.1(b) to 11.1(f).

LIMITATION OF LIABILITY - ISSUER. (a) Clause 26 of the Master Trust Deed applies to the obligations and liabilities of the Issuer and SF Manager under this agreement. (b) The Issuer enters into this agreement in its capacity as trustee of the Securitisation Fund and in no other capacity (except where the Transaction Documents provide otherwise). Subject to clause 11.1(d)) below, a liability of the Issuer arising under or in connection with this agreement or the Securitisation Fund is limited to and can be enforced against the Issuer only to the extent to which it can be satisfied out of the assets and property of the Securitisation Fund which are available to satisfy the right of the Issuer to be exonerated or indemnified for the liability. This limitation of the Issuer's liability applies despite any other provision of this agreement and extends to all liabilities and obligations of the Issuer in any way connected with any representation, warranty, conduct, omission, agreement or transaction related to this agreement or the Securitisation Fund. (c) Subject to clause 11.1(d)) below, no person (including any Relevant Party) may take action against the Issuer in any capacity other than as trustee of the Securitisation Fund or seek the appointment of a receiver (except under the Security Trust Deed), or a liquidator, an administrator or any similar person to the Issuer or prove in any liquidation, administration or arrangement of or affecting the Issuer (except in relation to the assets of the Securitisation Fund). (d) The provisions of this clause 11.1 shall not apply to any obligation or liability of the Issuer to the extent that it is not satisfied because under a Transaction Document or by operation of law there is a reduction in the extent of the Issuer's indemnification or exoneration out of the assets of the Securitisation Fund, as a result of the Issuer's fraud, negligence or wilful default. Top-up Funding Facility Agreement - SMHL Global Fund [ ]-[ ]. (e) It is acknowledged that the Relevant Parties are responsible under this agreement or the other Transaction Documents for performing a variety of obligations relating to the Securitisation Fund. No act or omission of the Issuer (including any related failure to satisfy its obligations under this agreement) will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d) above to the extent to which the act or omission was caused or contributed to by any failure by any Relevant Party or any other person who has been delegated or appointed by the Issuer in accordance with the Transaction Documents to fulfil its obligations relating to the Securitisation Fund or by any other act or omission of a Relevant Party or any other person. (f) No attorney, agent, receiver or receiver and manager appointed in accordance with this agreement or any other Transaction Document has authority to act on behalf of the Issuer in a way which exposes the Issuer to any personal liability and no act or omission of any such person will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d).) above. -------------------------------------------------------------------------------- Freehills Sydney\004832897 PAGE 19 (g) In this clause 11.1, RELEVANT PARTIES 11.1 Relevant Parties means any party to a Transaction Document other than the Issuer. (h) The Issuer is not obliged to do or refrain from doing anything under this agreement (including incur any liability) unless the Issuer's liability is limited in the same manner as set out in clauses 11.1(b) to 11.1(f).

LIMITATION OF LIABILITY - ISSUER. (a) Clause 26 of the Master Trust Deed applies to the obligations and liabilities of the Issuer and SF Manager under this agreement. (b) The Issuer enters into this agreement only in its capacity as trustee of the Securitisation Fund and in no other capacity (except where the Transaction Documents provide otherwise)capacity. Subject to clause 11.1(d), a A liability of the Issuer arising under or in connection with this agreement or the Securitisation Fund is limited to and can be enforced against the Issuer only to the extent to which it can be satisfied out of the assets and property of the Securitisation Fund out of which are available to satisfy the right of the Issuer to be exonerated or is actually indemnified for the liability. This limitation of the Issuer's liability applies despite any other provision of this agreement and extends to all liabilities and obligations of the Issuer in any way connected with any representation, warranty, conduct, omission, agreement or transaction related to this agreement or the Securitisation Fund.agreement. -------------------------------------------------------------------------------- page 18 (cb) Subject to clause 11.1(d), no person (including any Relevant Party) The parties other than the Issuer may take action against not xxx the Issuer in any capacity other than as trustee of the Securitisation Fund or seek the appointment of a receiver (except under in relation to property of the Security Trust DeedSecuritisation Fund), or a liquidator, an administrator or any similar person to the Issuer or prove in any liquidation, administration or arrangement of or affecting the Issuer (except in relation to the assets property of the Securitisation Fund). (dc) The provisions of this clause 11.1 shall not apply to any obligation or liability of the Issuer to the extent that it is not satisfied because under a Transaction Document the Master Trust Deed establishing the Securitisation Fund or by operation of law there is a reduction in the extent of the Issuer's indemnification or exoneration out of the assets of the Securitisation Fund, as a result of the Issuer's fraud, negligence or wilful default. Top-up Funding Facility Agreement - SMHL Global Fund [ ]-[ ] (e) It is acknowledged that the Relevant Parties are responsible under this agreement or the other Transaction Documents for performing a variety of obligations relating to the Securitisation Fund. No act or omission of the Issuer (including any related failure to satisfy its obligations under this agreement) will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d) to the extent to which the act or omission was caused or contributed to by any failure by any Relevant Party or any other person who has been delegated or appointed by the Issuer in accordance with the Transaction Documents to fulfil its obligations relating to the Securitisation Fund or by any other act or omission of a Relevant Party or any other person. (f) No attorney, agent, receiver or receiver and manager appointed in accordance with this agreement or any other Transaction Document has authority to act on behalf of the Issuer in a way which exposes the Issuer to any personal liability and no act or omission of any such person will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d). (g) In this clause 11.1, RELEVANT PARTIES means any party to a Transaction Document other than the Issuer. (h) The Issuer is not obliged to do or refrain from doing anything under this agreement (including incur any liability) unless the Issuer's liability is limited in the same manner as set out in clauses 11.1(b) to 11.1(f).

LIMITATION OF LIABILITY - ISSUER. (a) Clause 26 of the Master Trust Deed applies to the obligations and liabilities of the Issuer and SF Manager under this agreement. (b) The Issuer enters into this agreement in its capacity as trustee of the Securitisation Fund and in no other capacity (except where the Transaction Documents provide otherwise). Subject to clause 11.1(d)10.1(d) below, a liability of the Issuer arising under or in connection with this agreement or the Securitisation Fund is limited to and can be enforced against the Issuer only to the extent to which it can be satisfied out of the assets and property of the Securitisation Fund which are available to satisfy the right of the Issuer to be exonerated or indemnified for the liability. This limitation of the Issuer's liability applies despite any other provision of this agreement and extends to all liabilities and obligations of the Issuer in any way connected with any representation, warranty, conduct, omission, agreement or transaction related to this agreement or the Securitisation Fund. (c) Subject to clause 11.1(d)10.1(d) below, no person (including any Relevant Party) may take action against the Issuer in any capacity other than as trustee of the Securitisation Fund or seek the appointment of a receiver (except under the Security Trust Deed), or a liquidator, an administrator or any similar person to the Issuer or prove in any liquidation, administration or arrangement of or affecting the Issuer (except in relation to the assets of the Securitisation Fund). (d) The provisions of this clause 11.1 10.1 shall not apply to any obligation or liability of the Issuer to the extent that it is not satisfied because under a Transaction Document or by operation of law there is a reduction in the extent of the Issuer's indemnification or exoneration out of the assets of the Securitisation Fund, as a result of the Issuer's fraud, negligence or wilful default. Top-up Funding Facility Agreement - SMHL Global Fund [ ]-[ ]. (e) It is acknowledged that the Relevant Parties are responsible under this agreement or the other Transaction Documents for performing a variety of obligations relating to the Securitisation Fund. No act or omission of the Issuer (including any related failure to satisfy its obligations under this agreement) will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d10.1(d) above to the extent to which the act or omission was caused or contributed to by any failure by any Relevant Party or any other person who has been delegated or appointed by the Issuer in accordance with the Transaction Documents to fulfil its obligations relating to the Securitisation Fund or by any other act or omission of a Relevant Party or any other person. (f) No attorney, agent, receiver or receiver and manager appointed in accordance with this agreement or any other Transaction Document has authority to act on behalf of the Issuer in a way which exposes the Issuer to any personal liability and no act or omission of any such person will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d).10.1(d) above. -------------------------------------------------------------------------------- Freehills Sydney\004832884 PAGE 18 (g) In this clause 11.1, RELEVANT PARTIES 10.1 Relevant Parties means any party to a Transaction Document other than the Issuer. (h) The Issuer is not obliged to do or refrain from doing anything under this agreement (including incur any liability) unless the Issuer's liability is limited in the same manner as set out in clauses 11.1(b) to 11.1(f).

LIMITATION OF LIABILITY - ISSUER. (a) Clause 26 of the Master Trust Deed applies to the obligations and liabilities of the Issuer and SF Manager under this agreement. (b) The Issuer enters into this agreement only in its capacity as trustee of the Securitisation Fund and in no other capacity (except where the Transaction Documents provide otherwise)capacity. Subject to clause 11.1(d), a A liability of the Issuer arising under or in connection with this agreement or the Securitisation Fund is limited to and can be enforced against the Issuer only to the extent to which it can be satisfied out of the assets and property of the Securitisation Fund out of which are available to satisfy the right of the Issuer to be exonerated or is actually indemnified for the liability. This limitation of the Issuer's liability applies despite any other provision of this agreement and extends to all liabilities and obligations of the Issuer in any way connected with any representation, warranty, conduct, omission, agreement or transaction related to this agreement or the Securitisation Fund.agreement. -------------------------------------------------------------------------------- page 17 (cb) Subject to clause 11.1(d), no person (including any Relevant Party) The parties other than the Issuer may take action against not xxx the Issuer in any capacity other than as trustee of the Securitisation Fund or seek the appointment of a receiver (except under in relation to property of the Security Trust DeedSecuritisation Fund), or a liquidator, an administrator or any similar person to the Issuer or prove in any liquidation, administration or arrangement of or affecting the Issuer (except in relation to the assets property of the Securitisation Fund). (dc) The provisions of this clause 11.1 10.1 shall not apply to any obligation or liability of the Issuer to the extent that it is not satisfied because under a Transaction Document the Master Trust Deed establishing the Securitisation Fund or by operation of law there is a reduction in the extent of the Issuer's indemnification or exoneration out of the assets of the Securitisation Fund, as a result of the Issuer's fraud, negligence or wilful default. Top-up Funding Facility Agreement - SMHL Global Fund [ ]-[ ]. (ed) It is acknowledged that the Relevant Parties are SF Manager is responsible under this agreement or the other Transaction Documents Master Trust Deed establishing the Securitisation Fund for performing a variety of obligations relating to the Securitisation Fund, including under this agreement. No act or omission of the Issuer (including any related failure to satisfy its obligations or breach of representation or warranty under this agreement) will be considered fraud, negligence or wilful default of the Issuer for the purposes of paragraph (c) of this clause 11.1(d) 10.1 to the extent to which the act or omission was caused or contributed to by any failure by any Relevant Party the SF Manager or any other person who has been delegated or appointed by the Issuer in accordance with the Transaction Documents to fulfil its obligations relating to the Securitisation Fund or by any other act or omission of a Relevant Party the SF Manager or any other person. (fe) No attorney, agent, receiver or receiver and manager appointed in accordance with this agreement or any other Transaction Document has authority to act on behalf of the Issuer Trustee in a way which exposes the Issuer to any personal liability and no act or omission of any such person will be considered fraud, negligence or wilful default of the Issuer for the purposes of paragraph (c) of this clause 11.1(d)10.1. (g) In this clause 11.1, RELEVANT PARTIES means any party to a Transaction Document other than the Issuer. (hf) The Issuer is not obliged to do or refrain from doing anything under this agreement (including incur any liability) unless the Issuer's liability is limited in the same manner as set out in clauses 11.1(bparagraphs (a) to 11.1(f)(c) of this clause.

LIMITATION OF LIABILITY - ISSUER. (a) Clause 26 of the Master Trust Deed applies to the obligations and liabilities of the Issuer and SF Manager under this agreement. (b) The Issuer enters into this agreement only in its capacity as trustee of the Securitisation Fund and in no other capacity (except where the Transaction Documents provide otherwise)capacity. Subject to clause 11.1(d), a A liability of the Issuer arising under or in connection with this agreement or the Securitisation Fund is limited to and can be enforced against the Issuer only to the extent to which it can be satisfied out of the assets and property of the Securitisation Fund out of which are available to satisfy the right of the Issuer to be exonerated or is actually indemnified for the liability. This limitation of the Issuer's liability applies despite any other provision of this agreement and extends to all liabilities and obligations of the Issuer in any way connected with any representation, warranty, conduct, omission, agreement or transaction related to this agreement or the Securitisation Fundagreement. (cb) Subject to clause 11.1(d), no person (including any Relevant Party) The parties other than the Issuer may take action against not xxx the Issuer in any capacity other than as trustee of the Securitisation Fund or seek the appointment of a receiver (except under in relation to property of the Security Trust DeedSecuritisation Fund), or a liquidator, an administrator or any similar person to the Issuer or prove in any liquidation, administration or arrangement of or affecting the Issuer (except in relation to the assets property of the Securitisation Fund). (dc) The provisions of this clause 11.1 10.1 shall not apply to any obligation or liability of the Issuer to the extent that it is not satisfied because under a Transaction Document the Master Trust Deed establishing the Securitisation Fund or by operation of law there is a reduction in the extent of the Issuer's indemnification or exoneration out of the assets of the Securitisation Fund, as a result of the Issuer's fraud, negligence or wilful default. Top-up Funding Facility Agreement - SMHL Global Fund [ ]-[ ]. (ed) It is acknowledged that the Relevant Parties are SF Manager is responsible under this agreement or the other Transaction Documents Master Trust Deed establishing the Securitisation Fund for performing a variety of obligations relating to the Securitisation Fund, including under this agreement. No act or omission of the Issuer (including any related failure to satisfy its obligations or breach of representation or warranty under this agreement) will be considered fraud, negligence or wilful default of the Issuer for the purposes of paragraph (c) of this clause 11.1(d) 10.1 to the extent to which the act or omission was caused or contributed to by any failure by any Relevant Party the SF Manager or any other person who has been delegated or appointed by the Issuer in accordance with the Transaction Documents to fulfil its obligations relating to the Securitisation Fund or by any other act or omission of a Relevant Party the SF Manager or any other person. (fe) No attorney, agent, receiver or receiver and manager appointed in accordance with this agreement or any other Transaction Document has authority to act on behalf of the Issuer Trustee in a way which exposes the Issuer to any personal liability and no act or omission of any such person will be considered fraud, negligence or wilful default of the Issuer for the purposes of paragraph (c) of this clause 11.1(d)10.1. (g) In this clause 11.1, RELEVANT PARTIES means any party to a Transaction Document other than the Issuer. (hf) The Issuer is not obliged to do or refrain from doing anything under this agreement (including incur any liability) unless the Issuer's liability is limited in the same manner as set out in clauses 11.1(bparagraphs (a) to 11.1(f)(c) of this clause.

LIMITATION OF LIABILITY - ISSUER. (a) Clause 26 of the Master Trust Deed applies to the obligations and liabilities of the Issuer and SF Manager under this agreement. (b) The Issuer enters into this agreement in its capacity as trustee of the Securitisation Fund and in no other capacity (except where the Transaction Documents provide otherwise). Subject to clause 11.1(d)11.1(c) below, a liability of the Issuer arising under or in connection with this agreement or the Securitisation Fund is limited to and can be enforced against the Issuer only to the extent to which it can be satisfied out of the assets and property of the Securitisation Fund which are available to satisfy the right of the Issuer to be exonerated or indemnified for the liability. This limitation of the Issuer's liability applies despite any other provision of this agreement and extends to all liabilities and obligations of the Issuer in any way connected with any representation, warranty, conduct, omission, agreement or transaction related to this agreement or the Securitisation Fund. (c) Subject to clause 11.1(d)11.1(c) below, no person (including any Relevant Party) may take action against the Issuer in any capacity other than as trustee of the Securitisation Fund or seek the appointment of a receiver (except under the Security Trust Deed), or a liquidator, an administrator or any similar person to the Issuer or prove in any liquidation, administration or ------------------------------------------------------------------------------- page 24 Top-up Funding Facility Agreement - SMHL Global Fund No. 9 arrangement of or affecting the Issuer (except in relation to the assets of the Securitisation Fund). (d) The provisions of this clause 11.1 shall not apply to any obligation or liability of the Issuer to the extent that it is not satisfied because under a Transaction Document or by operation of law there is a reduction in the extent of the Issuer's indemnification or exoneration out of the assets of the Securitisation Fund, as a result of the Issuer's fraud, negligence or wilful default. Top-up Funding Facility Agreement - SMHL Global Fund [ ]-[ ] (e) It is acknowledged that the Relevant Parties are responsible under this agreement or the other Transaction Documents for performing a variety of obligations relating to the Securitisation Fund. No act or omission of the Issuer (including any related failure to satisfy its obligations under this agreement) will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d) to the extent to which the act or omission was caused or contributed to by any failure by any Relevant Party or any other person who has been delegated or appointed by the Issuer in accordance with the Transaction Documents to fulfil its obligations relating to the Securitisation Fund or by any other act or omission of a Relevant Party or any other person. (f) No attorney, agent, receiver or receiver and manager appointed in accordance with this agreement or any other Transaction Document has authority to act on behalf of the Issuer in a way which exposes the Issuer to any personal liability and no act or omission of any such person will be considered fraud, negligence or wilful default of the Issuer for the purposes of clause 11.1(d). (g) In this clause 11.1, RELEVANT PARTIES means any party to a Transaction Document other than the Issuer. (h) The Issuer is not obliged to do or refrain from doing anything under this agreement (including incur any liability) unless the Issuer's liability is limited in the same manner as set out in clauses 11.1(b) to 11.1(f).