Role of the Security Agent. The Security Agent shall not be an agent of (except as expressly provided in any Finance Document) any Finance Party under or in connection with any Finance Document.
Role of the Security Agent. The Security Agent shall hold the benefit of the Security Documents on trust for itself and the other Finance Parties and will apply all payments and other benefits received by it under the Security Documents in accordance with the provisions of the Intercreditor Deed.
Role of the Security Agent. The Security Agent shall hold the benefit of the Security Documents as agent and trustee for itself and the Secured Parties, or to the extent required by applicable local law shall hold the benefit of such Security Documents for itself and on behalf of the Secured Parties, to apply all payments and other benefits received by it by reason thereof, or otherwise realised thereunder, in accordance with this Deed.
Role of the Security Agent. The Security Agent shall not be an agent or trustee of any Secured Party (save in each case as expressly provided in any Finance Document) or any Obligor or any other person under or in connection with any Finance Document, the Transaction Security or this Agreement.
Role of the Security Agent. The Security Agent shall, save as otherwise specifically provided in the Canadian Law Security Documents, hold the benefit of the Security as agent and trustee for itself and for and on behalf of the Beneficiaries, or to the extent required by applicable local law shall hold the benefit of such Security Documents for itself and on behalf of the Beneficiaries, in each case, to apply all payments and other benefits received by it by reason thereof, or otherwise realised thereunder, in accordance with this Deed.
Role of the Security Agent. (a) The Security Agent is hereby appointed by the Finance Parties to hold on trust the benefit of the Security Documents to which it is party as agent and security trustee for itself and the Finance Parties and to apply all payments and other benefits received by it by reason thereof, or otherwise realised thereunder, in accordance with this Agreement and the Intercreditor Deed. In the event that the court of any relevant jurisdiction does not recognise or give effect to the trust expressed to be created by this Agreement, the relationship of the Finance Parties and the Security Agent shall be construed as one of principal and agent.
(b) Except as otherwise provided in any Security Document, all moneys received by the Agent or the Security Agent under a Security Document may be invested in the name of, or under the control of, such Agent in any investments selected by such Agent and such Agent may at any time vary or transfer any such investments for or into other investments or convert any moneys so deposited into any currency which it may direct. Additionally, those moneys may be placed on deposit in the name of, or under the control of, such Agent at any bank or institution (including itself) and upon such terms as it may think fit.
(c) Each Finance Party confirms its approval of each Security Document.
(d) The Security Agent may appoint a separate security agent or a co-security agent in any jurisdiction outside England and Wales:
(i) if the Security Agent considers that without such appointment the interests of the Finance Parties under the Senior Finance Documents will be materially and adversely affected;
(ii) for the purpose of complying with any law, directive or other condition in any applicable jurisdiction; or
(iii) for the purpose of obtaining or enforcing a judgment or enforcing any Senior Finance Document in any jurisdiction.
(e) Any appointment under this Clause 24 will only be effective if the separate security agent or co-security agent confirms to the Security Agent and the Obligors’ Agent, in form and substance satisfactory to the Security Agent, that it is bound by the terms of the Senior Finance Documents as if it were the Security Agent.
(f) The Security Agent may remove any security agent or co-security agent appointed by it and may appoint a new security agent or co-security agent in its place.
(g) The Parent must (or must procure that an Obligor will) pay to the Security Agent any reasonable remuneration paid by the Security Agent...
Role of the Security Agent. Subject to Clause 24.22 (Appointment as Security Agent (Sicherheitentreuhänder)), the Security Agent shall not be an agent of any Finance Party or any Obligor under or in connection with any Senior Finance Document.
Role of the Security Agent. (a) The Security Agent shall, at all times, act in accordance with the terms set forth in the Intercreditor Agreement.
(b) The declaration of trust pursuant to which the Security Agent declares itself trustee of the Transaction Security (to the extent permitted by the applicable law), for which it will hold on trust for the Secured Parties, is contained in the Intercreditor Agreement.
(c) In acting or otherwise exercising its rights or performing its duties under any of the Finance Documents, the Security Agent shall act in accordance with the provisions of this Agreement and the Intercreditor Agreement and shall seek any necessary instruction or direction from the Agent. In so acting, the Security Agent shall have the rights, benefits, protections, indemnities and immunities set out in this Agreement and the Intercreditor Agreement.
(d) In the event there is an inconsistency or conflict between the rights, duties, benefits, obligations, protections, immunities or indemnities of the Security Agent (the "Security Agent Provisions") as contained in this Agreement and/or the Intercreditor Agreement, on the one hand, and in any of the other Finance Documents, on the other hand, the Security Agent Provisions contained in this Agreement and/or the Intercreditor Agreement shall prevail and apply.
(e) The Security Agent is hereby authorised by the Secured Parties to sign or countersign any Assignment Agreement, Transfer Certificate, Increase Confirmation or similar document in connection therewith without investigation or inquiry, if, on its face, it appears to conform to the form contemplated in this Agreement or, if applicable, the same is signed by the Agent. 140 Project Meria: Senior Facilties Agreement
Role of the Security Agent. The Security Agent has no obligations of any kind to any other Party in connection with any Finance Document.
Role of the Security Agent. The Security Agent shall hold the benefit of the Security Documents as agent for itself and the other Finance Parties and will apply all payments and other benefits received by it under the Security Documents in accordance with the provisions of the relevant Security Documents and this agreement.
