Common use of MATERIAL PREJUDICE Clause in Contracts

MATERIAL PREJUDICE. The Note Trustee shall be entitled to assume, for the purposes of exercising any power, trust, authority, duty or discretion under or in relation to this Deed or the Note Conditions that such exercise will not be materially prejudicial to the interests of the Noteholders if the Rating Agencies have confirmed that the then current rating of the Notes would not be adversely affected by such exercise.