Common use of SECURITY TRUSTEE'S DISCRETION Clause in Contracts

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. 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 Seventh 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 Seventh 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 Seventh 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 Seventh Issuer in relation thereto.

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 Fifth 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 Fifth 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 Fifth 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 Fifth Issuer in relation thereto.

SECURITY TRUSTEE'S DISCRETION. Subject to CLAUSE 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 Second 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 Second Issuer Transaction Documents referred to in CLAUSE 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 Second 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 Second Issuer in relation thereto.

SECURITY TRUSTEE'S DISCRETION. Subject to CLAUSE 23.6 Clause 24.2 (Consent of Security TrusteeDelegation), without prejudice to the rights of the Security Trustee after the security created under this Deed has become enforceable, the Sixth Issuer Funding 2 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 2 under or in respect of the Sixth Issuer Transaction Funding 2 Charged Documents referred to in CLAUSE 3.1 Clause 2.3 (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 Funding 2 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 Funding 2 in relation thereto.

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 Fourth 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 Fourth 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 Fourth 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 Fourth Issuer in relation thereto.

SECURITY TRUSTEE'S DISCRETION. Subject to CLAUSE 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 Third 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 Third 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 Third 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 Third Issuer in relation thereto.