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 With respect to the Security, the Security Trustee is legally a secured party (Sicherungsnehmer) in relation to the Issuer. Accordingly, to the extent that any rights and claims are assigned by the Issuer to the Security Trustee for security purposes in accordance with clause 5 (Assignment for Security Purposes), in insolvency proceedings on the Security Trustee's estate, such rights would be segregated (Aussonderungsrecht) as assets of the Issuer held in trust.