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

POSITION OF THE SECURITY TRUSTEE IN RELATION TO THE TRANSACTION CREDITORS. 3.1 The Security Trustee carries out the duties specified in this Agreement as a trustee for the benefit of the Transaction Creditors. The Security Trustee shall exercise its duties hereunder with particular regard to the interests of the Transaction Creditors, giving priority to the interests of each Transaction Creditor in accordance with the Order of Priority, especially to the interests of the Noteholders. 3.2 This Agreement grants all Transaction Creditors the right to demand that the Security Trustee performs its duties under clause 2 (Duties of the Security Trustee) and all its other duties hereunder in accordance with this Agreement, and therefore this Agreement constitutes in favour of the Transaction Creditors that are not (validly) parties to this Agreement (in particular the Noteholders) a contract for the benefit of a third party pursuant to section 328 (echter Vertrag zugunsten Dritter) of the German Civil Code. The rights of the Issuer pursuant to clause 4.3 (Position of the Security Trustee in Relation to the Issuer) shall not be affected.

POSITION OF THE SECURITY TRUSTEE IN RELATION TO THE TRANSACTION CREDITORS. 3.1 The Security Trustee carries out the duties specified in this Agreement as a trustee for the benefit of the Transaction Creditors. The Security Trustee shall exercise its duties hereunder with particular regard to the interests of the Transaction Creditors, giving priority to the interests of each Transaction Creditor in accordance with the Order of Priority, especially to the interests of the Noteholders. 3.2 This Agreement grants all Transaction Creditors the right to demand that the Security Trustee performs its duties under clause 2 (Duties of the Security Trustee) and all its other duties hereunder in accordance with this Agreement, and therefore this Agreement constitutes in favour of the Transaction Creditors that are not (validly) parties to this Agreement (in particular the Noteholders) a contract for the benefit of a third party pursuant to section 328 (echter Vertrag zugunsten Dritter) of the German Civil Code. The rights of the Issuer pursuant to clause 4.3 4 (Position of the Security Trustee in Relation to the Issuer) shall not be affected.