Security Trust Provisions Sample Clauses
Security Trust Provisions establish the framework by which a trustee holds and manages security interests on behalf of multiple creditors or beneficiaries. Typically, these provisions outline the trustee's powers, duties, and the process for enforcing or releasing security, ensuring that the interests of all secured parties are coordinated and protected. By centralizing the administration of security, this clause streamlines enforcement actions and reduces conflicts among creditors, thereby providing clarity and efficiency in managing secured assets.
Security Trust Provisions. The provisions of Schedule 7 (Security Trust Provisions) shall bind all the Finance Parties and the Obligors.
Security Trust Provisions. Each Lender, each Issuing Bank and the Administrative Agent (together the “Finance Parties”) appoints the UK Security Trustee to act as UK Security Trustee under and in connection with the UK Security Agreement and authorises the UK Security Trustee, to exercise the rights, powers, authorities and discretions specifically given to it under or in connection with the UK Security Agreement, together with any other incidental rights, powers, authorities and discretions, and to give a good discharge for any moneys payable under any of the Loan Documents.
Security Trust Provisions. Each party hereto agrees and consents to the provisions set forth in Schedule 19 attached hereto.
Security Trust Provisions. The Company agrees that the terms of clause 9 (Appointment of the Collateral Agent) of the Debenture are incorporated into this Deed as if those terms were set out in full in this Deed.
Security Trust Provisions. Each Credit Party, each Lender, the L/C Issuer and each Agent-Related Person acknowledges and agrees to the provisions set forth in Schedule 10.12 with respect to any Collateral Document executed and delivered by any Foreign Credit Party that transfers, mortgages, charges, assigns and/or vests, with respect to any Collateral identified therein, assets and rights in or to the Security Trustee.
Security Trust Provisions. The Security Trustee shall, and the Administrative Agent, the L/C Issuer and each of the Lenders agree that it shall, hold any Collateral in which it has been granted a security interest by a Credit Party pursuant to the Credit Documents (the “Security Trust Property”) in trust for the benefit of the Administrative Agent, the L/C Issuer, each of the Lenders and each Affiliate of a Lender that enters into a Swap Contract with a Credit Party (collectively, the “Trust Secured Parties”) on the terms and subject to the conditions set out in this Schedule 10.12, in the Credit Agreement and in the other Credit Documents. Such trust shall not be established with regard to any Collateral Document that is expressed to be or is construed to be governed by German law or any Security Trust Property arising under any such Collateral document. This shall not limit Section 11.20(d) of the Credit Agreement, and the provisions of this Schedule 10.12 with respect to any Collateral Document that is expressed to be or is construed to be governed by German law or any Security Trust Property arising under any such Collateral Document to the extent they do not require the existence of a trust.
Security Trust Provisions. 31.17.1 The Security Trustee and each other Finance Party agree that the Security Trustee shall hold the Charged Property in trust for the benefit of the Finance Parties on the terms of the Finance Documents.
31.17.2 The Security Trustee shall have all the rights, privileges and immunities which gratuitous trustees have or may have in England, notwithstanding that it is entitled to a remuneration.
31.17.3 The Security Trustee may accept without enquiry, requisition, objection or investigation such title as any Obligor may have to any of the Charged Property.
31.17.4 The Security Trustee shall not be liable for any failure or omission to perfect or defect in perfecting, the Security created pursuant to any Security Document including (1) failure to obtain any Authorisation for the execution, validity, enforceability or admissibility in evidence of Security Document or (2) failure to effect or procure registration of or otherwise protect or perfect any of the Security created by the Security Documents under the laws in any territory.
31.17.5 The Security Trustee and every Receiver, Delegate or other similar person appointed under any of the Security Documents may indemnify itself against any cost, loss or liability incurred by it in that capacity (otherwise than by reason of the gross negligence or wilful default of the Security Trustee).
31.17.6 To enable the Security Trustee to make any distribution, it may fix a date as at which the amount of the total liabilities of the Lenders is to be calculated and may require, and rely on, a certificate from any Finance party giving details of any sums due or owing to any Finance Party as at that date and such other matters as it may think fit.
31.17.7 The Security Trustee shall send copies of all such calculations to each of the Lenders and shall make the distributions on the basis of such calculations.
31.17.8 On the enforcement of all or any of the Security Documents, the Security Trustee shall be entitled to deduct from the proceeds of such enforcement its costs, charges and expenses incurred in connection with such enforcement together with an amount equal to all sums due to the Agent.
Security Trust Provisions. The provisions of (Security trust provisions) shall bind each Party.
Security Trust Provisions