Common use of POSITION OF THE SECURITY TRUSTEE IN RELATION TO THE ISSUER Clause in Contracts

POSITION OF THE SECURITY TRUSTEE IN RELATION TO THE ISSUER. 4.1 The Issuer hereby grants to the Security Trustee a separate and independent claim (the "Trustee Claim") pursuant to which the Issuer owes the Security Trustee amounts equal to the amounts due at present or at any time hereafter by the Issuer to any of the Transaction Creditors under any of the Transaction Documents as and when the same fall due for payment. 4.2 The obligation of the Issuer to make payments to the respective Noteholder and/or Transaction Creditor shall remain unaffected. Any discharge of the Secured Obligations to the Security Trustee or any other relevant Transaction Creditor shall, to the same extent, discharge the corresponding obligations owing to the other, provided that any discharge of the Trustee Claim by virtue of any set-off, counterclaim or similar defence invoked against the Security Trustee shall not discharge the Secured Obligations to any other relevant Transaction Creditor. The Trustee Claim in whole or in part may be enforced separately from the relevant Transaction Creditor's claim related thereto. 4.3 The obligations of the Security Trustee under this Agreement are owed exclusively to the Transaction Creditors, except for the obligations and declarations of the Security Trustee to the Issuer pursuant to clauses 4.1, 10 (Representations of the Security Trustee) and clauses 37 (Actions of the Issuer Requiring Consent) through 42 (Condition Precedent).