Common use of MASTER ISSUER SECURITY TRUSTEE'S DISCRETION Clause in Contracts

MASTER ISSUER SECURITY TRUSTEE'S DISCRETION. Subject to Clause 15(v) of the Master Issuer Trust Deed incorporated by reference herein, without prejudice to the rights of the Master Issuer Security Trustee after the security created under this Deed has become enforceable, the Master Issuer hereby authorises the Master Issuer Security Trustee, prior to the security created by this Deed becoming enforceable, to exercise, or refrain from exercising, all rights, powers, authorities, discretions and remedies of the Master Issuer under or in respect of the Master Issuer Transaction Documents referred to in Clause 3.2 (Contracts) in such manner as in its absolute discretion it shall think fit. For the avoidance of doubt, the Master Issuer Security Trustee shall not be required to have regard to the interests of the Master Issuer in the exercise or non-exercise of any such rights, powers, authorities, discretions and remedies or to comply with any direction given by the Master Issuer in relation thereto.

MASTER ISSUER SECURITY TRUSTEE'S DISCRETION. Subject to Clause 15(v) of the Master Issuer Trust Deed incorporated by reference herein, without prejudice to the rights of the Master Issuer Security Trustee after the security created under this Deed has become enforceable, the Master Issuer hereby authorises the Master Issuer Security Trustee, prior to the security created by this Deed becoming enforceable, to exercise, or refrain from exercising, all rights, powers, authorities, discretions and remedies of the Master Issuer under or in respect of the Master Issuer Transaction Documents referred to in Clause 3.2 (ContractsCONTRACTS) in such manner as in its absolute discretion it shall think fit. For the avoidance of doubt, the Master Issuer Security Trustee shall not be required to have regard to the interests of the Master Issuer in the exercise or non-exercise of any such rights, powers, authorities, discretions and remedies or to comply with any direction given by the Master Issuer in relation thereto.

MASTER ISSUER SECURITY TRUSTEE'S DISCRETION. Subject to Clause 15(v) of the Master Issuer Trust Deed incorporated by reference herein, without prejudice to the rights of the Master Issuer Security Trustee after the security created under this Deed has become enforceable, the Master Issuer hereby authorises the Master Issuer Security Trustee, prior to the security created by this Deed becoming enforceable, to exercise, or refrain from exercising, all rights, powers, authorities, discretions and remedies of the Master Issuer under or in respect of the Master Issuer Transaction Documents referred to in Clause 3.2 (Contracts) in such manner as in its absolute discretion it shall think fit. For the avoidance of doubt, the Master Issuer Security Trustee shall not be required to have regard to the interests of the Master Issuer in the exercise or non-exercise of any such rights, powers, authorities, discretions and remedies or to comply with any direction given by the Master Issuer in relation thereto.. Back to Contents

MASTER ISSUER SECURITY TRUSTEE'S DISCRETION. Subject to Clause 15(v) of the Master Issuer Trust Deed incorporated by reference herein, without prejudice to the rights of the Master Issuer Security Trustee after the security created under this Deed has become enforceable, the Master Issuer hereby authorises the Master Issuer Security Trustee, prior to the security created by this Deed becoming enforceable, to exercise, or refrain from exercising, all rights, powers, authorities, discretions and remedies of the Master Issuer under or in respect of the Master Issuer Transaction Documents referred to in Clause 3.2 (Contracts) in such manner as in its absolute discretion it shall think fit). For the avoidance of doubt, the Master Issuer Security Trustee shall not be required to have regard to the interests of the Master Issuer in the exercise or non-exercise of any such rights, powers, authorities, discretions and remedies or to comply with any direction given by the Master Issuer in relation thereto.