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Trustee Act Sample Clauses

Trustee Act. (1) The Collateral Agent shall have such rights, powers, authorities and discretions as are (i) conferred on trustees by the Trustee Acts, (ii) by way of supplement to the Trustee Acts as provided for in this Agreement and the English Security Documents and (iii) any which may be vested in the Collateral Agent by law or regulation or otherwise. (2) Section 1 of the Trustee Act 2000 shall not apply to the duties of the Collateral Agent in relation to the trusts constituted by this Agreement. Where there are any inconsistencies between the Trustee Acts and the provisions of this Agreement, the provisions of this Agreement shall, to the extent permitted by law, prevail and, in the case of any inconsistency with the Trustee Act 2000, the provisions of this Agreement shall constitute a restriction or exclusion for the purposes of that Act. (3) All moneys from time to time received or recovered by the Collateral Agent in respect of the Trust Property and the net proceeds from the realization or enforcement of all or any part of the English Transaction Security shall be held by the Collateral Agent on trust to apply them as such times as the Collateral Agent (in its discretion) sees fit to the extent permitted by applicable law (and subject to the provisions of this clause (3) in the order of priority set out in the English Security Documents). (4) Nothing in any Loan Document constitutes the Collateral Agent as an agent, trustee or fiduciary of any Loan Party and the Collateral Agent shall not be bound to account to any other Secured Party for any sum or the profit element of any sum received by it for its own account. (5) If the Collateral Agent were to resign or be replaced in accordance with Section 9.09, its resignation or replacement shall only take effect upon: (i) the appointment of a successor; and (ii) the transfer of all the Trust Property to that successor.
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Trustee Act. 3.4.1 The rights, powers, authorities and discretions given to LFSL under or in connection with this Scheme shall be supplemental to the Trustee Acts, and in addition to any rights, powers, authorities and discretions which may be vested in LFSL by law or regulation or otherwise. 3.4.2 Section 1 of the Trustee Act 2000 shall not apply to the duties of LFSL in relation to the trusts constituted by this Scheme and is hereby excluded in accordance with Section 2 and Schedule 1, paragraph 7 of that Act. Where there are any inconsistencies between any Trustee Act and the provisions of this Scheme, the provisions of this Scheme shall, to the extent permitted by law and regulation, prevail and, in the case of any inconsistency with the Trustee Act 2000, the provisions of this Scheme shall constitute a restriction or exclusion for the purposes of that Act.
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Trustee Act. 4.1 The rights, powers, authorities and discretions given to the LFSL under or in connection with this Deed of Trust shall be supplemental to the Trustee Acts, and in addition to any rights, powers, authorities and discretions which may be vested in LFSL by law or regulation or otherwise. 4.2 Section 1 of the Trustee Act 2000 shall not apply to the duties of LFSL in relation to the Trust constituted by this Deed of Trust and is hereby excluded in accordance with Section 2 and Schedule 1, paragraph 7 of that Act. Where there are any inconsistencies between any Trustee Act and the provisions of this Deed of Trust, the provisions of this Deed of Trust shall, to the extent permitted by law and regulation, prevail and, in the case of any inconsistency with the Trustee Act 2000, the provisions of this Deed of Trust shall constitute a restriction or exclusion for the purposes of that Act.
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Trustee Act. In relation to each Transaction Document governed by English law and creating or purporting to create a trust or fiduciary relationship, the parties hereto agree that to the fullest extent permitted by law, none of the provisions of the Trustee Act 2000 shall apply to the trust or fiduciary relationship created by such Transaction Document or to the role of the trustee or fiduciary in relation to such trust or fiduciary relationship. The disapplication of the Trustee Act 2000 as provided by this Clause 27 shall constitute an exclusion of the provisions of the Trustee Act 2000 for the purposes of that act.
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Trustee Act. The Security Trustee shall have all the rights, privileges and immunities that gratuitous trustees have or may have under the laws of New York, even though it is entitled to remuneration.
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Trustee Act. To the fullest extent permitted by law, none of Parts I, II, III, IV, or V of the Trustee Xxx 0000 or the Trustee Act (Northern Ireland) 2001 (if applicable) nor the requirement to discharge the duty of care set out in section 1(1) of the Trustee Xxx 0000 or the Trustee Act (Northern Ireland) 2001 (if applicable) in exercising any of its powers shall apply to the trusts constituted by this Declaration of Trust or the role of the Participant in respect of the Asset Trust. The disapplication of those Parts or sections of the Trustee Xxx 0000 the Trustee Act (Northern Ireland) 2001 (if applicable) shall constitute an exclusion of the relevant Parts or sections of the Trustee Xxx 0000 the Trustee Act (Northern Ireland) 2001 (if applicable) for the purposes of that Act but shall not affect the Trustee’s fiduciary duties or its duties under common law or in equity.
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Trustee Act. The Security Agent shall have all the rights, privileges and immunities which gratuitous trustees have or may have in England, even though it is entitled to remuneration.
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Related to Trustee Act

  • Trustee Action The exercise by the Trustees of their powers and discretion hereunder in good faith and with reasonable care under the circumstances then prevailing shall be binding upon everyone interested. Subject to the provisions of Article IV, the Trustees shall not be liable for errors of judgment or mistakes of fact or law.

  • Trustee Access The Master Servicer shall afford the Company and the Trustee, upon reasonable notice, during normal business hours access to all records maintained by the Master Servicer, in respect of the Mortgage Loans and in respect of its rights and obligations hereunder and access to such of its officers as are responsible for such obligations. Upon reasonable request, the Master Servicer, shall furnish the Company and the Trustee with its most recent financial statements (or, for so long as the Company is the Master Servicer, the most recent consolidated financial statements for the Company appearing in the audited financial statements of Washington Mutual, Inc., or the entity with whose financial statements the financial statements of the Company are consolidated) and such other information as it possesses, and which it is not prohibited by law or, to the extent applicable, binding obligations to third parties with respect to confidentiality from disclosing, regarding its business, affairs, property and condition, financial or otherwise.

  • Trust Indenture Act The Trust Indenture Act of 1939, as amended.

  • Conformity with Trust Indenture Act Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act as then in effect.

  • Trust Indenture Act; Application (a) This Guarantee Agreement is subject to the provisions of the Trust Indenture Act that are required to be part of this Guarantee Agreement and shall, to the extent applicable, be governed by such provisions. (b) If and to the extent that any provision of this Guarantee Agreement limits, qualifies or conflicts with the duties imposed by Sections 310 to 317, inclusive, of the Trust Indenture Act, such imposed duties shall control.

  • Trust Indenture Act of 1939 This Indenture shall incorporate and be governed by the provisions of the Trust Indenture Act that are required to be part of and to govern indentures qualified under the Trust Indenture Act.

  • Compliance with Trust Indenture Act Every amendment or supplement to this Indenture or the Notes shall be set forth in a amended or supplemental Indenture that complies with the TIA as then in effect.

  • of the Trust Indenture Act Nothing herein shall prevent the Trustee from filing with the Commission the application referred to in the second to last paragraph of said Section 310(b).

  • Trust Indenture Act; Conflict with Trust Indenture Act (a) This Trust Agreement is subject to the provisions of the Trust Indenture Act that are required to be part of this Trust Agreement and shall, to the extent applicable, be governed by such provisions. (b) The Property Trustee shall be the only Trustee which is a trustee for the purposes of the Trust Indenture Act. (c) If any provision hereof limits, qualifies or conflicts with another provision hereof which is required to be included in this Trust Agreement by any of the provisions of the Trust Indenture Act, such required provision shall control. If any provision of this Trust Agreement modifies or excludes any provision of the Trust Indenture Act which may be so modified or excluded, the latter provision shall be deemed to apply to this Trust Agreement as so modified or excluded, as the case may be. (d) The application of the Trust Indenture Act to this Trust Agreement shall not affect the nature of the Securities as equity securities representing undivided beneficial interests in the assets of the Trust.

  • Conflict of Any Provision of Indenture with Trust Indenture Act of 1939 If and to the extent that any provision of this Indenture limits, qualifies or conflicts with another provision included in this Indenture by operation of Sections 310 to 317, inclusive, of the Trust Indenture Act of 1939 (an “incorporated provision”), such incorporated provision shall control.

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