Common use of Powers and Duties of the Guarantee Trustee Clause in Contracts

Powers and Duties of the Guarantee Trustee. (a) This Guarantee Agreement shall be held by the Guarantee Trustee in trust for the benefit of the Holders. The Guarantee Trustee shall not transfer its right, title and interest in this Guarantee Agreement to any Person except a Successor Guarantee Trustee on acceptance by such Successor Guarantee Trustee of its appointment to act as Guarantee Trustee or to a Holder exercising his or her rights pursuant to Section 5.04. The right, title and interest of the Guarantee Trustee to this Guarantee Agreement shall vest automatically in each Person who may hereafter be appointed as Guarantee Trustee in accordance with Article IV. Such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered. (b) If an Event of Default occurs and is continuing, the Guarantee Trustee shall enforce this Guarantee Agreement for the benefit of the Holders. (c) This Guarantee Agreement and all moneys received by the Property Trustee hereunder in respect of the Guarantee Payments will not be subject to any right, charge, security interest, lien or claim of any kind in favor of or for the benefit of the Guarantee Trustee or its agents or their creditors. (d) with the administration of this Guarantee Agreement shall have obtained written notice. (e) The Guarantee Trustee shall not resign as a Trustee unless a Successor Guarantee Trustee has been appointed and accepted that appointment in accordance with Article IV.

Powers and Duties of the Guarantee Trustee. (a) This Guarantee Agreement shall be held by the Guarantee Trustee in trust for the benefit of the Holders. The , and the Guarantee Trustee shall not transfer its right, title and interest in this Guarantee Agreement to any Person except a Holder exercising his or her rights pursuant to Section 5.04(iv) or to a Successor Guarantee Trustee on acceptance by such Successor Guarantee Trustee of its appointment to act as Successor Guarantee Trustee or to a Holder exercising his or her rights pursuant to Section 5.04Trustee. The right, title and interest of the Guarantee Trustee to this shall automatically vest in any Successor Guarantee Agreement shall vest automatically in each Person who may hereafter be appointed as Trustee, upon acceptance by such Successor Guarantee Trustee in accordance with Article IV. Such of its appointment hereunder, and such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivereddelivered pursuant to the appointment of such Successor Guarantee Trustee. (b) If an Event of Default occurs has occurred and is continuing, the Guarantee Trustee shall enforce this Guarantee Agreement for the benefit of the Holders. (c) This The Guarantee Agreement and all moneys received by Trustee, before the Property Trustee hereunder in respect of the Guarantee Payments will not be subject to any right, charge, security interest, lien or claim occurrence of any kind Event of Default and after the curing of all Events of Default that may have occurred, shall undertake to perform only such duties as are specifically set forth in favor of or for the benefit of the this Guarantee Trustee or its agents or their creditors. (d) with the administration of Agreement, and no implied covenants shall be read into this Guarantee Agreement shall have obtained written notice. against the Guarantee Trustee. In case an Event of Default has occurred (e) The Guarantee Trustee shall that has not resign as a Trustee unless a Successor Guarantee Trustee has been appointed and accepted that appointment in accordance with Article IV.cured or waived pursuant to Section 2.06), the Guarantee

Powers and Duties of the Guarantee Trustee. (a) This Guarantee Agreement shall be held by the Guarantee Trustee in trust for the benefit of the Holders. The , and the Guarantee Trustee shall not transfer its right, title and interest in this Guarantee Agreement to any Person except a Holder exercising his or her rights pursuant to Section 5.04(iv) or to a Successor Guarantee Trustee on acceptance by such Successor Guarantee Trustee of its appointment to act as Successor Guarantee Trustee or to a Holder exercising his or her rights pursuant to Section 5.04Trustee. The right, title and interest of the Guarantee Trustee to this shall automatically vest in any Successor Guarantee Agreement shall vest automatically in each Person who may hereafter be appointed as Trustee, upon acceptance by such Successor Guarantee Trustee in accordance with Article IV. Such of its appointment hereunder, and such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivereddelivered pursuant to the appointment of such Successor Guarantee Trustee. (b) If an Event of Default occurs has occurred and is continuing, the Guarantee Trustee shall enforce this Guarantee Agreement for the benefit of the Holders. (c) This The Guarantee Agreement and all moneys received by Trustee, before the Property Trustee hereunder in respect of the Guarantee Payments will not be subject to any right, charge, security interest, lien or claim occurrence of any kind Event of Default and after the curing of all Events of Default that may have occurred, shall undertake to per form only such duties as are specifically set forth in favor of or for the benefit of the this Guarantee Trustee or its agents or their creditors. (d) with the administration of Agreement, and no implied covenants shall be read into this Guarantee Agreement shall have obtained written notice. against the Guarantee Trustee. In case an Event of Default has occurred (e) The Guarantee Trustee shall that has not resign as a Trustee unless a Successor Guarantee Trustee has been appointed and accepted that appointment in accordance with Article IV.cured or waived pursuant to Section 2.06), the Guarantee