SECURITY TRUSTEE'S DISCRETION Clause Samples
The 'Security Trustee's Discretion' clause grants the security trustee the authority to make decisions and take actions regarding the enforcement and management of security interests, based on their own judgment. In practice, this means the trustee can determine when and how to enforce security, such as deciding whether to realize secured assets or to grant waivers, without needing prior approval from all secured parties. This clause is essential for efficient and timely administration of security interests, as it centralizes decision-making and avoids delays that could arise from requiring unanimous consent among multiple creditors.
SECURITY TRUSTEE'S DISCRETION. Subject to CLAUSE 23.6 (Consent of Security Trustee), without prejudice to the rights of the Security Trustee after the security created under this Deed has become enforceable, the Sixth Issuer hereby authorises the Security Trustee, prior to the security created by this Deed becoming enforceable, to exercise, or refrain from exercising, all rights, powers, authorities, discretions and remedies under or in respect of the Sixth Issuer Transaction Documents referred to in CLAUSE 3.1 (Contractual Rights) in such manner as the Security Trustee in its absolute discretion shall think fit. For the avoidance of doubt, the Security Trustee shall not be required to have regard to the interests of the Sixth Issuer in the exercise or non-exercise of any such rights, powers, authorities, discretions and remedies or to comply with any direction given by the Sixth Issuer in relation thereto.
SECURITY TRUSTEE'S DISCRETION in enforcing Relevant Security
SECURITY TRUSTEE'S DISCRETION. 7.1 SECURITY TRUSTEE MAY CURE BREACHES OF COVENANTS In the event of the failure of the Assignor to observe or perform the provisions of this Deed, the Security Trustee may do all such acts and things as may be necessary to secure the observance or performance thereof without thereby becoming liable as a mortgagee in possession.
SECURITY TRUSTEE'S DISCRETION. 9 7.1 Security Trustee May Cure Breaches of Covenants . . . . .
SECURITY TRUSTEE'S DISCRETION. Subject to CLAUSE 25.2 (Delegation), without prejudice to the rights of the Security Trustee after the security created under this Deed has become enforceable, Funding hereby authorises the Security Trustee, prior to the security created by this Deed becoming enforceable, to exercise, or refrain from exercising, all rights, powers, authorities, discretions and remedies of Funding under or in respect of the Funding Agreements referred to in CLAUSE 3.2 (Contractual Rights) in such manner as in its absolute discretion it shall think fit. For the avoidance of doubt, the Security Trustee shall not be required to have regard to the interests of Funding in the exercise or non-exercise of any such rights, powers, authorities, discretions and remedies or to comply with any direction given by Funding in relation thereto.
SECURITY TRUSTEE'S DISCRETION. Without prejudice to the rights of the Security Trustee after the Security has become enforceable, the Issuer hereby authorises the Security Trustee, prior to the Security becoming enforceable, to exercise, or refrain from exercising, all rights, powers, authorities, discretions and remedies under or in respect of the Transaction Documents in such manner as the Security Trustee in its absolute discretion shall think fit.
SECURITY TRUSTEE'S DISCRETION. Subject to CLAUSE 25.2 (Delegation), without prejudice to the rights of the Security Trustee after the security created under this Deed has become enforceable, Funding hereby authorises the Security Trustee, prior to the security created by this Deed becoming enforceable, to exercise, or refrain from exercising, all rights, powers, authorities, discretions and remedies of Funding under or in respect of the Funding Agreements referred to in CLAUSE 3.2 (Contractual Rights) in such manner as in its absolute discretion it shall think fit. For the avoidance of doubt, the Security Trustee shall not be required to have regard to the interests of Funding in the exercise or non-exercise of any such rights, powers, authorities, discretions and remedies or to comply with any direction given by Funding in relation thereto.