Security Trustee as Trustee Sample Clauses
The 'Security Trustee as trustee' clause establishes the role of a security trustee, who holds security interests on behalf of a group of lenders or beneficiaries under a financing arrangement. In practice, this means that the security trustee is legally empowered to enforce security rights, manage collateral, and take necessary actions in the event of a default, acting for the collective benefit of all secured parties. This arrangement streamlines the administration and enforcement of security interests, ensuring that the rights of multiple lenders are coordinated and protected efficiently.
Security Trustee as Trustee. Each of the Creditors irrevocably appoints, designates and authorizes the Security Trustee as trustee on its behalf with regard to (i) the security, powers, rights, titles, benefits and interests (both present and future) constituted by and conferred on the Creditors or any of them or for the benefit thereof under or pursuant to this Agreement or the other Transaction Documents (including, without limitation, the benefit of all covenants, undertakings, representations, warranties and obligations given, made or undertaken to any Creditor in the Transaction Documents), (ii) all moneys, property and other assets paid or transferred to or vested in any Creditor or any agent of any Creditor or received or recovered by any Creditor or any agent of any Creditor pursuant to, or in connection with, the Transaction Documents whether from the Borrower or any other Credit Party or any other person and (iii) all money, investments, property and other assets at any time representing or deriving from any of the foregoing, including all interest, income and other sums at any time received or receivable by any Creditor or any agent of any Creditor in respect of the same (or any part thereof). The Security Trustee hereby accepts such appointment and declares that it holds all such property on trust for the Creditors on the terms contained in this Agreement and the other Transaction Documents (but shall have no obligations under this Agreement or the other Transaction Documents except those expressly set forth herein and therein). Neither the Security Trustee nor any of its directors, officers, employees or agents shall be liable for any action taken or omitted to be taken by it or them under this Agreement, the Notes or the other Transaction Documents or in connection therewith, except for its or their own gross negligence or willful misconduct.
Security Trustee as Trustee. Each of the Lenders irrevocably appoints the Security Trustee as trustee on its behalf with regard to (i) the security, powers, rights, titles, benefits and interests (both present and future) constituted by and conferred on the Lenders or any of them or for the benefit thereof under or pursuant to this Credit Facility Agreement, the Note or any of the Security Documents (including, without limitation, the benefit of all covenants, undertakings, representations, warranties and obligations given, made or undertaken to any Lender in the Agreement, the Note or any Security Document), (ii) all moneys, property and other assets paid or transferred to or vested in any Lender or any agent of any Lender or received or recovered by any Lender or any agent of any Lender pursuant to, or in connection with, this Credit Facility Agreement, the Note or the Security Documents whether from any Security Party or any other person and (iii) all money, investments, property and other assets at any time representing or deriving from any of the foregoing, including all interest, income and other sums at any time received or receivable by any Lender or any agent of any Lender in respect of the same (or any part thereof). The Security Trustee hereby accepts such appointment.
Security Trustee as Trustee. Unless expressly provided to the contrary herein or in any Finance Document and except as otherwise required by Applicable Law, the Security Trustee holds any security created by a Security Document on trust for the Finance Parties.
Security Trustee as Trustee. (a) Except as provided in Clause 2.17(b), the Security Trustee holds:
(i) the Security; and
(ii) all other assets paid to, held by or received or recovered by it under or in connection with the Transaction Documents and the Security Documents, on trust for the Secured Parties.
(b) Section 1 of the Trustee Act 2000 shall not apply to the duties of the Security Trustee in relation to the trusts constituted by this Deed. Where there are any inconsistencies between the Trustee Acts 1925 and 2000 and the provisions of this Deed, the provisions of this Deed shall, to the extent allowed by law, prevail and, in the case of any inconsistency with the Trustee ▇▇▇ ▇▇▇▇, the provisions of this Deed shall constitute a restriction or exclusion for the purposes of that Act.
Security Trustee as Trustee. The Security Trustee declares itself to be a trustee of this Debenture (and any other Security created in its favour pursuant to this Debenture) for the Secured Parties. The retirement of the person for the time being acting as Security Trustee and the appointment of a successor shall be effected in the manner provided for in the Indenture.
Security Trustee as Trustee. Unless expressly provided to the contrary herein or in any Finance Document and except as otherwise required by Applicable Law, the Security Trustee holds any security created by a Security Document on trust for the Finance Parties, or, as the case may be, the relevant Finance Parties specified in the relevant Security Document.
Security Trustee as Trustee. (a) Except as provided below, the Security Trustee holds:
(i) on trust for the Secured Creditors:
(A) each Security Interest created by the Security Documents; and
(B) all other assets paid to, held by or received or recovered by it under or in connection with this Deed and the Security Documents; and
(ii) the covenants given by each Secured Creditor under this Deed on trust for each other Secured Creditor.
Security Trustee as Trustee. 9.1 The Security Trustee declares that it holds any security created by the Assignment on trust for the Finance Parties.
9.2 The Security Trustee, in its capacity as trustee or otherwise under any Finance Document is not liable for any failure:
9.2.1 to require the deposit with it of any title deed, any Finance Document; or any other documents in connection with any Finance Document;
9.2.2 in it (or its solicitors or other legal counsel) holding any title deed, any Finance Document or any other documents in connection with any Finance Document in its own possession or to take any steps to protect or preserve the same including permitting the Borrower (or its solicitors or other legal counsel) to retain any such title deeds, any Finance Documents or any other documents;
9.2.3 to obtain any licence, consent or other authority for the execution, delivery, validity, legality, adequacy, performance, enforceability or admissibility in evidence of any such Finance Document;
9.2.4 to register, file or record or otherwise protect any of the security granted under the Debenture (or the priority of any of the security) under any applicable laws in any jurisdiction or to give notice to any person of the execution of any of the Finance Documents or the security granted under the Finance Documents;
9.2.5 to take or require the Borrower to take any step to render the security created or purported to be created by or pursuant to any such Finance Document effective or to secure the creation of any ancillary security under the laws of any jurisdiction;
9.2.6 to require any further assurances in relation to any such Finance Document; or
9.2.7 to insure any asset or require any other person to maintain any such insurance or be responsible for any loss which may be suffered by any person as a result of the lack, or inadequacy or insufficiency, of any such insurance.
9.3 The Security Trustee is not responsible for:
9.3.1 the right or title of any person in or to, or the balance of, or sufficiency of any part of the security created by any Security Document; or
9.3.2 the priority of any security created by any Security Document.
9.4 The Security Trustee may accept, without enquiry, any right or title the Borrower may (or may purport to) have to any asset which is the subject of any such Finance Document and shall not be bound or concerned to investigate or make any enquiry into the right or title of the Borrower to any such asset or to require that Borrower to remedy any defect ...
Security Trustee as Trustee. Each of the Lenders irrevocably appoints the Security Trustee as trustee on its behalf with regard to (i) the security, powers, rights, titles, benefits and interests (both present and future) constituted by and conferred on the Lenders or any of them or for the benefit thereof under or pursuant to this Agreement, the Note or any of the Security Documents (including, without limitation, the benefit of all covenants, undertakings, representations, warranties and obligations given, made or undertaken to any Lender in the Agreement, the Note or any Security Document), (ii) all moneys, property and other assets paid or transferred to or vested in any Lender or any agent of any Lender or received or recovered by any Lender or any agent of any Lender pursuant to, or in connection with, this Agreement, the Note or the Security Documents whether from any Security Party or any other person and (iii) all money, investments, property and other assets at any time representing or deriving from any of the foregoing, including all interest, income and other sums at any time received or receivable by any Lender or any agent of any Lender in respect of the same (or any part thereof). The Security Trustee hereby accepts such appointment.
Security Trustee as Trustee. 28.5.1 The Security Trustee has no duty (in the absence of a specific provision in this Agreement or any Security Document):