Common use of SECURITY TRUSTEE ACTING Clause in Contracts

SECURITY TRUSTEE ACTING. Only the Security Trustee may enforce the provisions of the Security Trust Deed and neither the Note Trustee nor any Offshore Noteholder is entitled to proceed directly against the Trustee to enforce the performance of any of the provisions of the Security Trust Deed, the Offshore Notes (including the Conditions), provided that if the Security Trustee having become bound to take steps and/or to proceed under the Security Trust Deed, fails to do so within a reasonable time and such failure is continuing, the Note Trustee and/or Offshore Noteholders may proceed directly against the Trustee but then only if and to the extent the Note Trustee and/or the Offshore Noteholders are able to do so under the Transaction Documents and Australian law. The Security Trustee shall comply with all directions given to it by the Note Trustee pursuant to any power to give directions granted to the Note Trustee pursuant to this deed or to the Security Trust Deed provided that the Security Trustee has the power under the Security Trust Deed to take the action contemplated by the direction, and the Security Trustee shall not be liable for any direct and indirect costs, expenses, losses, damages, liabilities or actions arising or resulting from any action or conduct undertaken or not taken by the Security Trustee or its officers, employees or agents including as a consequence of following those directions.

SECURITY TRUSTEE ACTING. Only the Security Trustee may enforce the provisions of the Security Trust Deed and neither the Note Trustee nor any Offshore Noteholder holder of a US$ Note is entitled to proceed directly against the Trustee to enforce the performance of any of the provisions of the Security Trust Deed, Deed or of the Offshore US$ Notes (including the Conditions), provided that if the Security Trustee having become bound to take steps and/or to proceed under the Security Trust Deed, fails to do so within a reasonable time and such failure is continuing, the Note Trustee and/or Offshore US$ Noteholders (if entitled under the Transaction Documents to act in place of the Note Trustee) may proceed directly against the Trustee but then only if and to the extent the Note Trustee and/or the Offshore US$ Noteholders are able to do so under the Transaction Documents and Australian law. The Security Trustee shall comply with all directions given to it by the Note Trustee pursuant to any power to give directions granted to the Note Trustee pursuant to this deed or to the Security Trust Deed provided that the Security Trustee has the power under the Security Trust -------------------------------------------------------------------------------- PAGE 17 NOTE TRUST DEED XXXXX XXXXX & XXXXXXX -------------------------------------------------------------------------------- Deed to take the action contemplated by the direction, and the Security Trustee shall not be liable for any all direct and indirect costs, expenses, losses, damages, liabilities or actions arising or resulting from any action or conduct undertaken or not taken by the Security Trustee or its officers, employees or agents including as a consequence of following those directions.

SECURITY TRUSTEE ACTING. Only the Security Trustee may enforce the provisions of the Security Trust Deed and neither the Note Trustee nor any Offshore US$ Noteholder is entitled to proceed directly against the Trustee to enforce the performance of any of the provisions of the Security Trust Deed, Deed or the Offshore US$ Notes (including the relevant Conditions), provided that if the Security Trustee having become bound to take steps and/or to proceed under the Security Trust Deed, fails to do so within a reasonable time and such failure is continuing, the Note Trustee and/or Offshore US$ Noteholders may proceed directly against the Trustee but then only if and to the extent the Note Trustee and/or the Offshore US$ Noteholders are able to do so under the Transaction Documents and Australian lawDocuments. The Security Trustee shall comply with all directions given to it by the Note Trustee pursuant to any power to give directions granted to the Note Trustee pursuant to this deed or to the Security Trust Deed provided that the Security Trustee has the power under the Security Trust Deed to take the action contemplated by the direction, and the Security Trustee shall not be liable for any direct and indirect costs, expenses, losses, damages, liabilities or actions arising or resulting from any action or conduct undertaken or not taken by the Security Trustee or its officers, employees or agents including as a consequence of following those directions.