Common use of SECURITY TRUSTEE'S LIABILITY Clause in Contracts

SECURITY TRUSTEE'S LIABILITY. The Security Trustee shall not, in any circumstances (whether by reason of taking possession of the Assigned Assets or for any other reason whatsoever and whether as mortgagee in possession or on any other basis whatsoever), be liable: (a) to account to the Assignor or any other person for anything except the Security Trustee's own actual receipts; or (b) to the Assignor or any other person for any costs, charges, losses, damages, liabilities or expenses arising from, or connected with, any realisation of the Assigned Assets or from any act, default, omission or misconduct of the Security Trustee, its officers, employees or agents in relation to the Assigned Assets.

SECURITY TRUSTEE'S LIABILITY. The Security Trustee shall not, in any circumstances (whether by reason of taking possession of the Assigned Assets or for any other reason whatsoever and whether as mortgagee in possession or on any other basis whatsoever), be liable: (a) to account to the Assignor Company or any other person for anything except the Security Trustee's own actual receipts; or (b) to the Assignor Company or any other person for any costs, charges, losses, damages, liabilities or expenses arising from, or connected with, any realisation of the Assigned Assets or from any act, default, omission or misconduct of the Security Trustee, its officers, employees or agents in relation to the Assigned Assets.