Common use of Security Agent as trustee Clause in Contracts

Security Agent as trustee. The Secured Obligations shall be secured by the interests and rights granted in favour of the Security Agent as trustee for the Agents and the Lenders under the Security Documents and such interests and rights shall be held by the Security Agent upon trust for the benefit of the Secured Parties without any preference or priority amongst them as security for the Secured Obligations in accordance with the Security Trust Deed.

Security Agent as trustee. The Secured Obligations shall be secured by the interests and rights granted in favour of the Security Agent as trustee for the Agents and the Lenders under the Security Documents and such interests and rights shall be held by the Security Agent upon trust for the benefit of the Secured Parties without in such shares and ranking in such order as shall be from time to time applicable pursuant to any preference or priority amongst them as security for agreement between the Secured Obligations in accordance with the Security Trust DeedParties.