Security Trust Deed. On the Initial Borrowing Date and to the extent that the Initial Syndication Date has occurred, the Security Trust Deed shall have been executed by the parties thereto and shall be in full force and effect.
Security Trust Deed. Each Lender acknowledges the terms of the Security Trust Deed and, in particular, the terms, basis and limitation on which the Collateral Agent holds the Transaction Security (as defined therein) and specifically agrees and accepts (i) such terms, basis and limitation; (ii) that the Collateral Agent shall, as trustee, have only those duties, obligations and responsibilities expressly specified in the Security Trust Deed; (iii) the limitation and exclusion of the Collateral Agent’s liability as set out therein; and (iv) all other provisions of the Security Trust Deed as if it were a party thereto.
Security Trust Deed. (a) Despite any other provision of this Agreement or another Finance Document to the contrary, each Party agrees that this Agreement and the other Finance Documents are subject in all respects to the Security Trust Deed.
(b) To the extent there is any inconsistency between a term of this Agreement or any other Finance Document (other than the Security Trust Deed) and the Security Trust Deed, the Security Trust Deed prevails.
Security Trust Deed. The obligations of the Trustee under the Securities (amongst other things) will be secured to the Securityholders (among others) by the Security Trust Deed which is a Security Trust Deed relating to the Series Trust for the purposes of the Master Trust Deed.
Security Trust Deed. The Trust Deed dated March 27, 1997 by and among the Borrower, FIL, the FIL Agent and the Agent.
Security Trust Deed. In order for the Lenders to become beneficiaries under the Australian Security Trust Deed, the Administrative Agent is hereby authorized and instructed to execute as agent on behalf each Lender an Australian Accession Deed. Each Lender authorizes the Administrative Agent to act as its representative for the purposes of the Australian Security Trust Deed in connection with any communication or other dealings with the Australian Security Trustee, and the Australian Security Trustee shall not be required to accept any communication from any other party other than the Administrative Agent with respect to any request, instruction, direction, approval, consent, agreement or other instruction of the Lenders (as beneficiaries) under the Australian Security Trust Deed.
Security Trust Deed. Investors agree and acknowledge that pursuant to the Security Trust Deed and an Hedge Security Deed for the relevant Series, the Security Trustee holds a security interest in respect of the Secured Property in relation to each Series of the Units on trust for and on behalf of Investors in the relevant Series and the Security Trustee on the terms of the Security Trust Deed and the relevant Hedge Security Deed.
Security Trust Deed. An Event of Default occurs under the Security Trust Deed and the Security Trustee has declared the Notes immediately due and payable. In respect of such Additional Termination Event, Party B shall be the sole Affected Party. If any Early Termination Date is designated or occurs, "MARKET QUOTATION" in respect of the Terminated Transactions shall be determined based on a CPR rate with that rate determined by Party A as Calculation Agent based on the actual rate of prepayment from the Settlement Date or if prior to the first interest payment date then a CPR rate based on the amortisation schedule used in the prehedging, provided that the CPR rate determined by the Calculation Agent may not reflect such actual rate of prepayment if the Calculation Agent, acting in a commercially reasonable manner, so determines in light of the prevailing and expected economic conditions, but must reflect the expected rate of prepayment determined by the Calculation Agent acting in a commercially reasonable manner in light of the prevailing and expected economic conditions.
Security Trust Deed. The Security Trust Deed is entered into by Sequoia Specialist Investments Pty Ltd (Sequoia) and the Security Trustee. Under the Security Trust Deed, the Security Trustee is appointed as trustee of each Separate Trust and enters into the Security (including the Hedge Security Deed of a Series) in that capacity. The Security Trust Deed is a Master Security Trust Deed and a number of Separate Trusts are created under the Security Trust Deed. A Separate Trust is created in relation to each Series of Units. Sequoia grants a Security Interest over the relevant Secured Property for that Series in favour of the Security Trustee under the Hedge Security Deed (explained above). The Security Trustee will then hold a security interest in respect of the relevant Secured Property of that Series on trust for itself and each Investor (in proportion to the number of Units an Investor holds) on the terms of the Security Trust Deed until termination of the Separate Trust. The primary function of the Security Trustee is to exercise any right, power or remedy under the Security and enforce the Security of a Series on behalf of the Investors of that Series. Investors of a Series are not allowed to exercise these rights or have any direct recourse to the security constituted by the Security except through the Security Trustee. In exercising these powers, the Security Trustee may request the instructions of the Majority Investors (by way of convening a meeting of Investors) and act in accordance with them or may act as it considers is in the best interests of the Investors and itself as a whole or as it determines in its reasonable discretion. However, where the Majority Investors of a Series have instructed the Security Trustee to exercise a right, power, authority, discretion, or remedy of, or conferred on, the Security Trustee and the Security Trustee fails to do so within 5 Business Days, the Majority Investors of that Series may act on behalf of the Security Trustee to exercise the right, power, authority, discretion, or remedy. Each Separate Trust created under Security Trust Deed will terminate in certain circumstances including when the Security Trustee is satisfied that Sequoia has irrevocably and unconditionally satisfied in full its Secured Obligations in respect of that Separate Trust and the Trust Fund for that Separate Trust is distributed in full. The Security Trustee can resign as trustee of a Separate Trust at any time by giving at least 30 days’ written notice. ...
Security Trust Deed. (a) Any party to the Security Trust Deed (other than a Finance Party) fails to comply with the provisions of, or does not perform its obligations under, the Security Trust Deed; or
(b) a representation or warranty given by that party in the Security Trust Deed is incorrect in any material respect, and, if the non-compliance or circumstances giving rise to the misrepresentation are capable of remedy, it is not remedied within ten days of the earlier of the Agent giving notice to that party or that party becoming aware of the non-compliance or misrepresentation.
