Common use of Trustee to Assume Performance Clause in Contracts

Trustee to Assume Performance. The Trustee need not notify anyone of the execution of the relevant Supplemental Trust Deed or any other Programme Document or do anything to investigate if an Event of Default, a Potential Event of Default, a Mandatory Redemption Event, a transfer, any amendment pursuant to Clause 15.2 hereof (for which its consent is not sought), novation or assignment of an LS Margin Account Agreement, a substitution of an Index or a resignation or termination of an Agent's appointment has occurred or if the Security created under a Security Document has become enforceable. Until it has express written notice to the contrary, the Trustee may assume that no such event has occurred and that the Issuer is performing all its obligations under the relevant Trust Deed, the ETP Securities and the other Programme Documents to which it is a party. The Trustee is not responsible for monitoring or supervising the performance by any other person of its obligations to the Issuer and may assume these are being performed unless it shall have received written notice to the contrary and, without prejudice to the generality of the foregoing, the Trustee shall not be responsible for the making, perfection, maintenance or accuracy of any required filings relating to these presents or any other Programme Document.

Trustee to Assume Performance. The Trustee need not notify anyone of the execution of the relevant Supplemental Trust Deed or any other Programme Document or do anything to investigate if an Event of Default, a Potential Event of Default, a Mandatory Redemption Event, a transfer, any amendment pursuant to Clause 15.2 hereof (for which its consent is not sought), novation or assignment of an LS a Margin Account Agreement, a substitution of an Index or a resignation or termination of an Agent's appointment has occurred or if the Security created under a Security Document has become enforceable. Until it has express written notice to the contrary, the Trustee may assume that no such event has occurred and that the Issuer is performing all its obligations under the relevant Trust Deed, the ETP Securities and the other Programme Documents to which it is a party. The Trustee is not responsible for monitoring or supervising the performance by any other person of its obligations to the Issuer and may assume these are being performed unless it shall have received written notice to the contrary and, without prejudice to the generality of the foregoing, the Trustee shall not be responsible for the making, perfection, maintenance or accuracy of any required filings relating to these presents or any other Programme Document.