Common use of Scottish Trust Property Clause in Contracts

Scottish Trust Property. Without prejudice to the provisions of this Clause 9 (Enforcement of Funding 1 Security) and Clause 19 (Directions from Beneficiaries) of the Mortgages Trust Deed, Funding 1 and the Mortgages Trustee hereby undertake to the Funding 1 Security Trustee that if at any time after the Funding 1 Security shall have become enforceable and the Funding 1 Security Trustee or any Receiver shall so require, they will join together in directing the Seller to sell or dispose of all or any part of the Scottish Trust Property on terms previously approved by the Funding 1 Security Trustee and/or in causing the trusts constituted by any Scottish Declaration of Trust to be wound up or performed and they will take all such actions and execute all such documents as may be necessary to effect such sale or disposal or winding-up or performance and the distribution or transfer of the Scottish Trust Property or any part thereof in accordance with the terms of each Scottish Declaration of Trust, the Mortgages Trust Deed and this Deed. The Seller and the Mortgages Trustee hereby acknowledge and consent to the foregoing as trustee and beneficiary respectively in terms of each Scottish Declaration of Trust.

Scottish Trust Property. Without prejudice to the provisions of this Clause 9 (Enforcement of Funding 1 Security) and Clause 19 (Directions from Beneficiaries) 16 of the Mortgages Trust Deed, Funding 1 2 and the Mortgages Trustee hereby undertake to the Funding 1 2 Security Trustee that if at any time after the Funding 1 Security security constituted by or pursuant this Deed shall have become enforceable and the Funding 1 2 Security Trustee or any Receiver shall so require, they will join together in directing the Seller to sell or dispose of all or any part of the Scottish Trust Property on terms previously approved by the Funding 1 2 Security Trustee and/or in causing the trusts constituted by any Scottish Declaration of Trust to be wound up or performed and they will take all such actions and execute all such documents as may be necessary to effect such sale or disposal or winding-up or performance and the distribution or transfer of the Scottish Trust Property or any part thereof in accordance with the terms of each Scottish Declaration of Trust, the Mortgages Trust Deed and this Deed. The Seller and the Mortgages Trustee hereby acknowledge and consent to the foregoing as trustee and beneficiary respectively in terms of each Scottish Declaration of Trust.

Scottish Trust Property. Without prejudice to the foregoing provisions of this Clause 9 CLAUSE 12 (Enforcement of Funding 1 SecuritySecurity Trustee's Powers) and Clause 19 (Directions from Beneficiaries) CLAUSE 14 of the Mortgages Trust Deed, Funding 1 and the Mortgages Trustee hereby covenant and agree with and undertake to the Funding 1 Security Trustee that if at any time after the Funding 1 Security security constituted by or pursuant to this Deed shall have become enforceable and the Funding 1 Security Trustee or any Receiver shall so require, they will join together in directing the Seller to sell or dispose of all or any part of the Scottish Trust Property on terms previously approved by the Funding 1 Security Trustee and/or in causing the trusts constituted by any Scottish Declaration of Trust Deed to be wound up or performed and they will take all such actions and execute all such documents as may be necessary to effect such sale or disposal or winding-up or performance and the distribution or transfer of the Scottish Trust Property or any part thereof in accordance with the terms of each Scottish Declaration of TrustTrust Deed, the Mortgages Trust Deed and this Deed. The Seller and the Mortgages Trustee hereby acknowledge and consent to the foregoing as trustee and beneficiary respectively in terms of each Scottish Declaration of TrustTrust Deed.