Separate Security Trustees Sample Clauses
The 'Separate Security Trustees' clause establishes that multiple security trustees can be appointed to hold security interests on behalf of different groups of creditors within a transaction. In practice, this means that each trustee may be responsible for enforcing security interests for a specific tranche of lenders or bondholders, rather than a single trustee acting for all parties. This arrangement is particularly useful in complex financing structures where different creditor groups require distinct representation, ensuring that their interests are managed and enforced independently, thereby reducing conflicts and clarifying responsibilities.
Separate Security Trustees. The Security Trustee may (whether for the purpose of complying with any law or regulation of any overseas jurisdiction, or for any other reason) appoint any Person to act jointly with the Security Trustee either as a separate trustee or as a co-trustee (each an “Appointee”) on such terms and subject to such conditions as the Security Trustee thinks fit and with such of the rights, powers, authorities and discretions vested in the Security Trustee by any Loan Document as may be conferred by the instrument of appointment of the Appointee. The Security Trustee may pay reasonable remuneration to any Appointee, together with any costs and expenses (including legal fees) reasonably incurred by the Appointee in connection with its appointment. All such remuneration, costs and expenses shall be treated, for the purposes of this Agreement, as paid or incurred by the Security Trustee.
Separate Security Trustees. (a) Each Security Trustee may (whether for the purpose of complying with any law or regulation of any overseas jurisdiction, or for any other reason) appoint any Person to act jointly with such Security Trustee either as a separate trustee or as a co-trustee (each an “Appointee”) on such terms and subject to such conditions as such Security Trustee thinks fit and with such of the rights, powers, authorities and discretions vested in such Security Trustee by any Loan Document as may be conferred by the instrument of appointment of the Appointee.
(b) Each Security Trustee may pay reasonable remuneration to any Appointee, together with any costs and expenses (including legal fees) reasonably incurred by the Appointee in connection with its appointment. All such remuneration, costs and expenses shall be treated, for the purposes of this Agreement, as paid or incurred by the applicable Security Trustee.
Separate Security Trustees. At any time or times (whether for the purposes of conforming to any legal requirements, restrictions or conditions in any jurisdiction in which any particular act or acts are to be performed or for any other purpose or reason whatsoever), the Security Trustee shall have power to appoint any person to act either as separate trustee, or as co-trustee jointly with the Security Trustee, with (subject to the provisions of this Deed) such of the rights, powers and discretions (including the right to reasonable remuneration and indemnity), duties and obligations vested in the Security Trustee by this Deed or any UK Security Document as shall be conferred or imposed by the instrument of its or his appointment. The Security Trustee shall have power to remove any such separate trustee or co-trustee. Any such separate trustee or co-trustee shall be entitled to all rights, powers and discretions as are conferred on it or him by the Security Trustee by the instrument of its or his appointment. Such reasonable remuneration as the Security Trustee may pay to such person, together with any attributable reasonable costs, charges, losses, expenses and other reasonable sums expended, paid, incurred or debited in account in performing its or his function as such separate trustee or co-trustee, shall for the purposes of this Deed be treated as expended, paid, incurred or debited in account by the Security Trustee.
Separate Security Trustees. (a) The Dutch Security Trustee may (whether for the purpose of complying with any law or regulation of any overseas jurisdiction, or for any other reason) appoint any Person to act jointly with the Dutch Security Trustee either as a separate trustee or as a co-trustee (each an “Appointee”) on such terms and subject to such conditions as the Dutch Security Trustee thinks fit and with such of the rights, powers, authorities and discretions vested in the Dutch Security Trustee by any Loan Document as may be conferred by the instrument of appointment of the Appointee.
(b) The Dutch Security Trustee may pay reasonable remuneration to any Appointee, together with any costs and expenses (including legal fees) reasonably incurred by the Appointee in connection with its appointment. All such remuneration, costs and expenses shall be treated, for the purposes of this Agreement, as paid or incurred by the European Security Trustee.
Separate Security Trustees. The European Security Trustee may (whether for the purpose of complying with any law or regulation of any overseas jurisdiction, or for any other reason) appoint any Person to act jointly with the European Security Trustee either as a separate trustee or as a co-trustee (each an “Appointee”) on such terms and subject to such conditions as the European Security Trustee thinks fit and with such of the rights, powers, authorities and discretions vested in the European Security Trustee by any Loan Document as may be conferred by the instrument of appointment of the Appointee.
Separate Security Trustees. (a) The European Security Trustee may (whether for the purpose of complying with any law or regulation of any overseas jurisdiction, or for any other reason) appoint any Person to act jointly with the European Security Trustee either as a separate trustee or as a co-trustee (each an “Appointee”) on such terms and subject to such conditions as the European Security Trustee thinks fit and with such of the rights, powers, authorities and discretions vested in the European Security Trustee by any Loan Document as may be conferred by the instrument of appointment of the Appointee.
(b) The European Security Trustee may pay reasonable remuneration to any Appointee, together with any costs and expenses (including legal fees) reasonably incurred by the Appointee in connection with its appointment. All such remuneration, costs and expenses shall be treated, for the purposes of this Agreement, as paid or incurred by the European Security Trustee.