Common use of Security Trustee as Proprietor Clause in Contracts

Security Trustee as Proprietor. Each Secured Party confirms that it does not wish to be registered as a joint proprietor of any mortgage or charge created pursuant to the relevant UK Security Agreements and accordingly (i) authorizes the Security Trustee to hold such mortgages and charges in its sole name as trustee for the Secured Parties; and (ii) requests the Land Registry (or other relevant registry) to register the Security Trustee as a sole proprietor (or heritable creditor, as the case may be) of any such mortgage or charge.

Security Trustee as Proprietor. Each Secured Party confirms that it does not wish to be registered as a joint proprietor of any mortgage or charge created pursuant to the relevant UK Security Agreements and accordingly (ia) authorizes the UK Security Trustee to hold such mortgages and charges in its sole name as trustee for the relevant Secured Parties; and (iib) requests the UK Land Registry (or other relevant registry) to register the UK Security Trustee as a sole proprietor (or heritable creditor, as the case may be) of any such mortgage or charge.

Security Trustee as Proprietor. Each UK Facility Secured Party confirms that it does not wish to be registered as a joint proprietor of any mortgage or charge created pursuant to the relevant UK Security Agreements and accordingly (ia) authorizes the UK Security Trustee to hold such mortgages and charges in its sole name as trustee for the UK Facility Secured Parties; and (iib) requests the Land Registry (or other relevant registry) to register the UK Security Trustee as a sole proprietor (or heritable creditor, as the case may be) of any such mortgage or charge.