Common use of Role of the Security Agent Clause in Contracts

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 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 other Finance Parties and on behalf of the Secured Parties, to will apply all payments and other benefits received by it by reason thereof, or otherwise realised thereunder, under the Security Documents in accordance with this Deedthe provisions of the Intercreditor Agreement.

Role of the Security Agent. The Security Agent shall hold the benefit of the Security Documents to which it is party as agent and security 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, Senior Finance Parties to apply all payments and other benefits received by it by reason thereof, or otherwise realised thereunder, in accordance with this DeedAgreement, and shall act in relation to the Security Documents in accordance with the requirements of the Intercreditor Agreement.