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Security Trust Sample Clauses

Security Trust. 18 18. AMENDMENT, WAIVER AND SEVERABILITY............................ 19 19. MISCELLANEOUS................................................. 19 20. ASSIGNMENT.................................................... 20 21. NOTICES....................................................... 20 22.
Security Trust. 4 3. Creation of Master Issuer Security...................................4 4.
Security Trust. 5 3. Creation of Funding 2 Security ......................................................................................................... 6 4.
Security Trust. 17 3. Creation of Funding 2 Security ........................................................................................................... 18 4. Acknowledgements and undertakings ................................................................................................. 20 5. Restrictions on Exercise of Certain Rights .......................................................................................... 22 6. Payments out of Funding 2 Accounts Prior to Acceleration ............................................................... 23
Security Trust. (a) Each of the Secured Parties has irrevocably appointed the European Collateral Agent to act as its trustee in connection with this Debenture. (b) Each of the Secured Parties has authorised the European Collateral Agent to exercise the rights specifically given to the European Collateral Agent under or in connection with the Loan Documents together with any other incidental rights. (c) The European Collateral Agent shall hold the benefit of this Debenture on trust for the Secured Parties.”. (b) The Parties agree that with effect from the Effective Date, the Finance Deed of Charge shall be amended by inserting a new Clause 14.7 (Security Trust) at the end of Clause 14 as follows:
Security Trust. 3 3. Creation of Master Issuer Security....................................3 4. Acknowledgements and undertakings.....................................6 5. Restrictions on Exercise of Certain Rights............................
Security Trust. (a) Each of the Secured Parties has irrevocably appointed the European Collateral Agent to act as its trustee in connection with this Debenture. (b) Each of the Secured Parties has authorised the European Collateral Agent to exercise the rights specifically given to the European Collateral Agent under or in connection with the Loan Documents together with any other incidental rights. (c) The European Collateral Agent shall hold the benefit of this Debenture on trust for the Secured Parties.”. (c) The Parties agree that with effect from the Effective Date, each of the Depot Deed of Charge and International Deed of Charge shall be amended by inserting a new Clause 13.7 (Security Trust) at the end of Clause 13 as follows:
Security Trust. (i) Establishment of the Trust Account. Within thirty (30) calendar days of the Company’s delivery to the Reinsurer of an Election Notice requiring that the Reinsurer secure the Reinsured Liabilities ceded by the Company with a Security Trust, the Reinsurer shall execute the Security Trust Agreement and deposit into an account with the Trustee (the “Security Trust”), naming the Company as the sole beneficiary thereof, assets having a market value in an amount no less than the Required Balance, for the purpose of securing the Reinsured Liabilities under Secured Policies. The Security Trust Agreement shall be substantially in the form of Exhibit B hereto.
Security Trust. 21.1 The Security Trustee declares that it holds the Transaction Security and the Security Property on trust for the Secured Party on the terms contained in this deed. 21.2 The Secured Party authorises the Security Trustee to perform the duties, obligations and responsibilities and to exercise the rights, powers, authorities and discretions specifically given to the Security Trustee under or in connection with this deed together with any other incidental rights, powers, authorities and discretions. 21.3 The Security Trustee shall have only those duties, obligations and responsibilities expressly specified in this deed and no other obligations or responsibilities shall be implied. 21.4 Nothing in this deed constitutes the Security Trustee as an agent, trustee or fiduciary of the Assignor.
Security Trust. Deed This deed is a ‘Security’ and a ‘Transaction Document’ for the purposes of the Security Trust Deed.