Common use of Settlement of Trust Clause in Contracts

Settlement of Trust. The Company has appointed the Debenture Trustee as trustee for the Debenture Holders and the Company hereby settles in trust with the Debenture Trustee, a sum of Rs. 1,000/- (Rupees One Thousand only). The Debenture Trustee hereby confirms receipt of and accepts the above amount of Rs. 1,000/- (Rupees One Thousand only) in trust hereby declared and hereby agrees to act in a fiduciary capacity as trustee for the sole and exclusive benefit of the Debenture Holder(s) and its transferees and assignees from time to time, in accordance with the terms and conditions of this Deed. The Debenture Trustee acknowledges that the Debenture Holder(s) have agreed to subscribe to the Debentures inter alia on this basis. The Debenture Trustee in such capacity as a trustee agrees: (a) to execute and deliver all documents, agreements, instruments and certificates contemplated by this Deed to be executed and delivered by the Debenture Trustee or as the Debenture Trustee shall deem advisable and in the best interest of the Debenture Holder(s); (b) to take whatever action shall be required to be taken by the Debenture Trustee by the terms and provisions of this Deed, to exercise its rights and perform its duties and obligations under such documents; (c) subject to the terms and provisions of the Transaction Documents, to take such other action in connection with the foregoing as the Debenture Holder(s) may from time to time direct. PROVIDED that before initiating any action or exercising any right or requiring the performance of any act or omission, under any of the Transaction Documents, or where the consent or satisfaction of the Debenture Trustee is required under any of the Transaction Documents, the Debenture Trustee shall, unless otherwise provided for in the Transaction Documents, seek written instructions from the Debenture Holder(s) and only upon receipt of relevant instructions from the Majority Debenture Holder(s) shall the Debenture Trustee initiate any action or exercise such rights, or indicate such requirement, or provide such consent or indicate such satisfaction. Notwithstanding such requirement for instructions in writing the Debenture Trustee shall never knowingly take any action inconsistent with the best interests of the Debenture Holder(s).

Settlement of Trust. The Company has appointed the Debenture Trustee as trustee for the Debenture Holders and holders of Debentures pursuant to the Trustee Agreement. The Company hereby settles in trust with the Debenture Trustee, a sum of Rs. 1,000/- (Rupees One Thousand only). The Debenture Trustee hereby confirms receipt of and accepts the above amount of Rs. 1,000/- (Rupees One Thousand only) in trust hereby declared and hereby agrees to act in a fiduciary capacity as trustee for the sole and exclusive benefit of the Debenture Holder(s) and its transferees and assignees from time to time, time in accordance with the terms and conditions of this Deed. The Debenture Trustee acknowledges that the Debenture Holder(s) have agreed to subscribe to the Debentures inter inter-alia on this basis. The Debenture Trustee in such capacity as a trustee agrees: (a) to execute and deliver all documents, agreements, instruments and certificates contemplated by this Deed to be executed and delivered by the Debenture Trustee or as the Debenture Trustee shall deem advisable and in the best interest of the Debenture Holder(s)Trustee; (b) to take whatever action as shall be required to be taken by the Debenture Trustee by the terms and provisions of this Deed, to exercise its rights and perform its duties and obligations under such documentsthis Deed; (c) subject to the terms and provisions of the Transaction Documentsthis Deed, to take such other action in connection with the foregoing as the Debenture Holder(s) may from time to time direct. PROVIDED that THAT before initiating any action or exercising any right or requiring the performance of performing any act duty under this Deed or omission, under any of the Transaction Documents, or where the consent or satisfaction of the Debenture Trustee is required under any of the other Transaction Documents, the Debenture Trustee shall, unless otherwise provided for in the Transaction Documentsthis Deed, seek written instructions from the Debenture Holder(s) and only upon receipt of relevant instructions from the Super Majority or the Majority Debenture Holder(sHolders if such action or exercising of the right or performing of the duty pertains to a relevant tranche or series (as the case may be) shall the Debenture Trustee initiate any action or exercise such rights, rights or indicate perform such requirement, or provide such consent or indicate such satisfactionduty. Notwithstanding such requirement for instructions in writing the Debenture Trustee shall never knowingly take any action inconsistent with the best interests of the Debenture Holder(s).

Settlement of Trust. The Company has appointed the Debenture Trustee as trustee for the holders of Debentures pursuant to the Debenture Holders and the Trustee Agreement. The Company hereby settles in trust with the Debenture Trustee, a sum of Rs. 1,000/- 1000/- (Rupees One Thousand only). The Debenture Trustee hereby confirms receipt of and accepts the above amount of Rs. 1,000/- 1000/- (Rupees One Thousand only) in trust hereby declared and hereby agrees to act in a fiduciary capacity as trustee for the sole and exclusive benefit of the Debenture Holder(s) and its their respective successors, transferees and assignees from time to time, time in accordance with the terms and conditions of this Deed. The Debenture Trustee acknowledges that the Debenture Holder(s) have agreed to subscribe to the Debentures inter alia on this basis. The Debenture Trustee in such capacity as a trustee agrees: (a) to execute and deliver all documentsdocuments including Security Documents, agreements, instruments and certificates contemplated by this Deed to be executed and delivered by the Debenture Trustee or as the Debenture Trustee shall deem advisable and in the best interest of the Debenture Holder(s)Trustee; (b) to take whatever action as shall be required to be taken by the Debenture Trustee by the terms and provisions of this Deed, to exercise its rights and perform its duties and obligations under such documentsthis Deed; (c) subject to the terms and provisions of the Transaction Documentsthis Deed, to take such other action in connection with the foregoing as the Debenture Holder(s) may from time to time direct. PROVIDED that before initiating any action or exercising any right or requiring the performance of performing any act duty under this Deed or omission, under any of the Transaction Documents, or where the consent or satisfaction of the Debenture Trustee is required under any of the other Transaction Documents, the Debenture Trustee shall, unless otherwise provided for in the Transaction Documentsthis Deed, seek written instructions from the Debenture Holder(s) and only upon receipt of relevant instructions from the Super Majority or with the authority of the Super Majority Resolution or the Majority Debenture Holder(s) Holders or with the authority of the Majority Resolution if such action or exercising of the right or performing of the duty pertains to a relevant tranche or series (as the case may be), shall the Debenture Trustee initiate any action or exercise such rights, rights or indicate perform such requirement, or provide such consent or indicate such satisfactionduty. Notwithstanding such requirement for instructions in writing the Debenture Trustee shall never knowingly take any action inconsistent with the best interests of the Debenture Holder(s).

Settlement of Trust. The Company 2.3.1 At the request of the Issuer, Axis Trustee Services Limited has appointed agreed to act as the Debenture Trustee as trustee for the Debenture Holders in respect of the Debentures on the terms and conditions set out in this Deed and for the Company hereby settles remuneration set out in the offer letter reference no. ATSL/CO/21-22/0131 dated November 17, 2021. 2.3.2 Simultaneous with the execution of this Deed, the Issuer has settled in trust with the Debenture Trustee, Trustee a non-refundable sum of Rs. 1,000/- INR 1,000 (Indian Rupees One Thousand only)) to be utilized towards the expenses of the trust. The Debenture Trustee hereby confirms receipt of and accepts has accepted the above amount of Rs. 1,000/- INR 1,000 (Indian Rupees One Thousand only) in trust hereby declared and hereby agrees to to: (a) act in a fiduciary capacity as trustee for the sole and exclusive benefit of the Debenture Holder(s) and its transferees and assignees from time to time, in accordance with Holders on the terms and conditions of this Deed. The Debenture Trustee acknowledges that the Debenture Holder(s) have agreed to subscribe to the Debentures inter alia on this basis. The Debenture Trustee set out in such capacity as a trustee agrees: (a) to execute and deliver all documents, agreements, instruments and certificates contemplated by this Deed to be executed and delivered by the Debenture Trustee or as the Debenture Trustee shall deem advisable other Transaction Documents; and in the best interest of the Debenture Holder(s); (b) to take whatever action shall hold on trust for the Debenture Holders all Transaction Proceeds. 2.3.3 Each Original Debenture Holders shall, by signing the Application Form and without any further act or deed, be required deemed to be taken by have irrevocably given its consent to the Debenture Trustee by and its agents and authorised representatives to do, inter alia, all acts, deeds and things necessary in respect of the terms and provisions of this Deed, to exercise its rights and perform its duties and obligations Debentures being offered for subscription under such documents; (c) subject to the terms and provisions of the Transaction Documents, . Any subsequent Debenture Holder purchasing from an Original Debenture Holder shall be deemed to take have irrevocably given such other action in connection with the foregoing as the Debenture Holder(s) may from time consent to time direct. PROVIDED that before initiating any action or exercising any right or requiring the performance of any act or omission, under any of the Transaction Documents, or where the consent or satisfaction of the Debenture Trustee is required under any and its agents and authorised representatives immediately upon being registered as a Debenture Holder in the register of Debenture Holders maintained in respect of the Transaction Documents, the Debenture Trustee shall, unless otherwise provided for in the Transaction Documents, seek written instructions from the Debenture Holder(s) and only upon receipt of relevant instructions from the Majority Debenture Holder(s) shall the Debenture Trustee initiate any action or exercise such rights, or indicate such requirement, or provide such consent or indicate such satisfaction. Notwithstanding such requirement for instructions in writing the Debenture Trustee shall never knowingly take any action inconsistent with the best interests of the Debenture Holder(s)Debentures.

Settlement of Trust. The Company (a) At the request of the Issuer, Vistra ITCL (India) Limited has appointed agreed to act as the Trustee for the Debentureholders in respect of the Debentures on the terms and conditions set out in this Deed and for the remuneration as set out in Debenture Trustee’s offer letter dated June 28, 2018 and the Debenture Trustee Agreement. (b) Simultaneous with the execution of this Deed, the Issuer has settled in trust with the Trustee the sum of INR 1,000 (Indian Rupees One Thousand). The Trustee has accepted the above amount of INR 1,000 (Indian Rupees One Thousand) in trust declared and agrees to: (i) act as trustee for the Debenture Holders and the Company hereby settles in trust with the Debenture Trustee, a sum of Rs. 1,000/- (Rupees One Thousand only). The Debenture Trustee hereby confirms receipt of and accepts the above amount of Rs. 1,000/- (Rupees One Thousand only) in trust hereby declared and hereby agrees to act in a fiduciary capacity as trustee for the sole and exclusive benefit of the Debenture Holder(s) and its transferees and assignees from time to time, in accordance with Debentureholders on the terms and conditions of set out in this Deed. The Deed and the other Debenture Trustee acknowledges that the Debenture Holder(s) have agreed to subscribe to the Debentures inter alia on this basis. The Debenture Trustee in such capacity as a trustee agrees: Documents; and (aii) to execute and deliver hold on trust for the Debentureholders all documents, agreements, instruments and certificates contemplated by this Deed to be executed and delivered Recoveries as received by the Debenture Trustee or as the Debenture Trustee shall deem advisable and in the best interest of the Debenture Holder(s); (b) to take whatever action shall be required to be taken by the Debenture Trustee by the terms and provisions of this Deed, to exercise its rights and perform its duties and obligations under such documents;Trustee. (c) subject The Original Debentureholder subscribing to any Debentures shall, by signing the Application Form and without any further act or deed, be deemed to have irrevocably given its consent to the terms Trustee and provisions its agents and authorized representatives to do, inter alia, all acts, deeds and things necessary in respect of the Transaction Documents, Debentures being offered for subscription under the Offer Documents and this Deed. Any subsequent Debentureholder purchasing Debentures from the Original Debentureholder shall be deemed to take have irrevocably given such other action consent to the Trustee and its agents and authorized representatives immediately upon being registered as a Debentureholder in connection with the foregoing as the Debenture Holder(s) may from time to time direct. PROVIDED that before initiating any action or exercising any right or requiring the performance register of any act or omission, under any Debentureholders maintained in respect of the Transaction Documents, or where the consent or satisfaction Debentures. (d) The Trustee confirms that its appointment is in compliance with Section 71 of the Debenture Trustee is required under any 2013 Act and Rule 18 of the Transaction Documents, the Debenture Trustee shall, unless otherwise provided for in the Transaction Documents, seek written instructions from the Debenture Holder(s) Share Capital and only upon receipt of relevant instructions from the Majority Debenture Holder(s) shall the Debenture Trustee initiate any action or exercise such rights, or indicate such requirement, or provide such consent or indicate such satisfaction. Notwithstanding such requirement for instructions in writing the Debenture Trustee shall never knowingly take any action inconsistent with the best interests of the Debenture Holder(s)Debentures Rules.

Settlement of Trust. The Company 2.3.1 At the request of the Issuer, Axis Trustee Services Limited has appointed agreed to act as the Debenture Trustee as trustee for the Debenture Holders in respect of the Debentures on the terms and conditions set out in this Deed and for the Company hereby settles remuneration set out in the offer letter dated July 14, 2021. 2.3.2 Simultaneous with the execution of this Deed, the Issuer has settled in trust with the Debenture Trustee, Trustee a non-refundable sum of Rs. 1,000/- INR 1,000 (Indian Rupees One Thousand only)) to be utilized towards the expenses of the trust. The Debenture Trustee hereby confirms receipt of and accepts has accepted the above amount of Rs. 1,000/- INR 1,000 (Indian Rupees One Thousand only) in trust hereby declared and hereby agrees to to: (a) act in a fiduciary capacity as trustee for the sole and exclusive benefit of the Debenture Holder(s) and its transferees and assignees from time to time, in accordance with Holders on the terms and conditions of this Deed. The Debenture Trustee acknowledges that the Debenture Holder(s) have agreed to subscribe to the Debentures inter alia on this basis. The Debenture Trustee set out in such capacity as a trustee agrees: (a) to execute and deliver all documents, agreements, instruments and certificates contemplated by this Deed to be executed and delivered by the Debenture Trustee or as the Debenture Trustee shall deem advisable other Transaction Documents; and in the best interest of the Debenture Holder(s); (b) to take whatever action shall hold on trust for the Debenture Holders all Transaction Proceeds. 2.3.3 Each Original Debenture Holders shall, by signing the Application Form and without any further act or deed, be required deemed to be taken by have irrevocably given its consent to the Debenture Trustee by and its agents and authorised representatives to do, inter alia, all acts, deeds and things necessary in respect of the terms and provisions of this Deed, to exercise its rights and perform its duties and obligations Debentures being offered for subscription under such documents; (c) subject to the terms and provisions of the Transaction Documents, . Any subsequent Debenture Holder purchasing from an Original Debenture Holder shall be deemed to take have irrevocably given such other action in connection with the foregoing as the Debenture Holder(s) may from time consent to time direct. PROVIDED that before initiating any action or exercising any right or requiring the performance of any act or omission, under any of the Transaction Documents, or where the consent or satisfaction of the Debenture Trustee is required under any and its agents and authorised representatives immediately upon being registered as a Debenture Holder in the register of Debenture Holders maintained in respect of the Transaction Documents, the Debenture Trustee shall, unless otherwise provided for in the Transaction Documents, seek written instructions from the Debenture Holder(s) and only upon receipt of relevant instructions from the Majority Debenture Holder(s) shall the Debenture Trustee initiate any action or exercise such rights, or indicate such requirement, or provide such consent or indicate such satisfaction. Notwithstanding such requirement for instructions in writing the Debenture Trustee shall never knowingly take any action inconsistent with the best interests of the Debenture Holder(s)Debentures.

Settlement of Trust. The Company has appointed the Debenture Trustee as trustee for the Debenture Holders and holders of Debentures pursuant to the Trustee Agreement. The Company hereby settles in trust with the Debenture Trustee, a sum of Rs. 1,000/- (Rupees One Thousand one thousand only). The Debenture Trustee hereby confirms receipt of and accepts the above amount of Rs. 1,000/- (Rupees One Thousand one thousand only) in trust hereby declared and hereby agrees to act in a fiduciary capacity as trustee for the sole and exclusive benefit of the Debenture Holder(s) and its transferees and assignees from time to time, time in accordance with the terms and conditions of this Deed. The Debenture Trustee acknowledges that the Debenture Holder(s) have agreed to subscribe to the Debentures inter alia on this basis. The Debenture Trustee in such capacity as a trustee agrees: (a) to execute and deliver all documents, agreements, instruments and certificates contemplated by this Deed to be executed and delivered by the Debenture Trustee or as the Debenture Trustee shall deem advisable and in the best interest of the Debenture Holder(s); (b) to take whatever action as shall be required to be taken by the Debenture Trustee by the terms and provisions of this Deed, Deed and to exercise its rights and perform its duties and obligations under such documents;; and (c) subject to the terms and provisions of the Transaction Documentsthis Deed, to take such other action in connection with the foregoing as the Debenture Holder(s) may from time to time direct. PROVIDED that before initiating any action or exercising any right or requiring the performance of performing any act duty under this Deed or omission, under any of the Transaction Documents, or where the consent or satisfaction of the Debenture Trustee is required under any of the other Transaction Documents, the Debenture Trustee shall, unless otherwise provided for in the Transaction Documents, seek written instructions from the Debenture Holder(s) Relevant Instructions and only upon receipt of relevant instructions from the Majority Debenture Holder(s) Relevant Instructions shall the Debenture Trustee initiate any action or exercise such rights, or indicate rights and perform such requirement, or provide such consent or indicate such satisfactionduties and obligations referred to herein. Notwithstanding any such requirement for instructions in writing writing, the Debenture Trustee shall never knowingly take any action inconsistent with the best interests of the Debenture Holder(s).