Common use of Power of Beneficiary Clause in Contracts

Power of Beneficiary. 6.1 The Mortgages Trustee, as beneficiary hereunder, shall have the right in the circumstances stated in Clause 6 (Perfection of the Assignment) of the Mortgage Sale Agreement to complete its title to the Scottish Trust Property or any part thereof or to call upon the Seller to execute and deliver to the Mortgages Trustee or its foresaids valid assignations and transfers (including where applicable Scottish Transfers) of the Scottish Trust Property or any part thereof, and that notwithstanding the winding-up of the Seller or the administration of the Seller, or the appointment of any receiver to all or any part of the Scottish Trust Property.

Power of Beneficiary. 6.1 The Mortgages Receivables Trustee, as beneficiary hereunder, shall have the right in the circumstances stated in Clause 6 clause 6.5 (Perfection of the Assignmentand Directions as to Payment) of the Mortgage Sale Agreement Receivables Securitisation Deed to complete its title to the Scottish Trust Property or any part thereof or to call upon the Seller Offeror to execute and deliver to the Mortgages Receivables Trustee or its foresaids valid assignations and transfers (including where applicable Scottish Transfers) of the Scottish Trust Property or any part thereof, and that notwithstanding the winding-up of the Seller Offeror or the making of any administration order in respect of the SellerOfferor, or the appointment of any receiver to all or any part of the Scottish Trust Property.