Common use of Segregation of Assets of a Trust Clause in Contracts

Segregation of Assets of a Trust. (a) Subject to this Deed (and in particular to clause 21.10) and any Supplementary Terms Notice the Trustee shall: (i) ensure that no money or other Assets of a Trust are commingled with the money or other Assets of another Trust or any assets of the Trustee in any capacity other than as Trustee of the Trust; (ii) account for the Assets included in each Trust separately from the Assets included in all other Trusts and any assets of the Trustee in any capacity other than as Trustee of the Trust; and (iii) keep the liabilities of, and principal amounts outstanding to Noteholders and providers of Support Facilities or other Creditors in relation to each Trust separate and apart from the liabilities of, and principal amounts outstanding to Noteholders and providers of Support Facilities or other Creditors in relation to all other Trusts and any liabilities of the Trustee in any capacity other than as Trustee of the Trust. (b) Notwithstanding this clause 8.10: (i) any Expenses of a Warehouse Trust may be borne by one or more Warehouse Trusts in the respective amounts directed by the Manager from time to time; and (ii) the Trustee at the direction of the Manager, and with the approval of any relevant Designated Rating Agency (if relevant), may enter any Hedge Agreement which relates to Assets of any two or more Trusts.

Segregation of Assets of a Trust. (a) Subject to this Deed deed (and in particular to clause 21.1027.10) and any Supplementary Terms Series Notice the Trustee shall: (i) ensure that no money or other Assets of a Trust are commingled with the money or other Assets of another Trust or any assets of the Trustee in any capacity other than as Trustee of the Trust; (ii) account for the Assets included in each Trust separately from the Assets included in all other Trusts and any assets of the Trustee in any capacity other than as Trustee of the TrustTrusts; and (iii) keep the liabilities of, and principal amounts outstanding to Noteholders and providers of Support Facilities or other Creditors in relation to each Trust separate and apart from the liabilities of, and principal amounts outstanding to Noteholders and providers of Support Facilities or other Creditors in relation to all other Trusts and any liabilities of the Trustee in any capacity other than as Trustee of the TrustTrusts. (b) Notwithstanding this clause 8.104.10: (i) any Expenses of a Warehouse Trust may be borne by one or more Warehouse Trusts in the respective amounts directed agreed by the Trustee and the Trust Manager from time to time; and (ii) the Trustee at the direction of the Manager, and with the approval of any relevant Designated Rating Agency (if relevant), Trust Manager may enter any Hedge Agreement which relates to Assets of any two or more Trusts.