Trustees’ undertakings Sample Clauses
Trustees’ undertakings. The Trustee undertakes to notify the Security Trustee and the Manager:
(a) at least 14 days before the Trustee changes its corporate name;
(b) at least 14 days before the Trustee changes or cancels the ABN allocated to it or the Series Trust; and
(c) within 2 Business Days of receipt from the Australian Taxation Office of notice that any ABN allocated to the Trustee or the Series Trust has changed, was cancelled or otherwise ceases to apply to it.”;
(viii) clause 6.4 (“Manager’s undertaking”) is deleted and replaced with the following:
Trustees’ undertakings. The Trustee must:
(a) act honestly and in good faith and comply with all applicable laws in performing its duties and in the exercise of its discretions under this Deed;
(b) if and to the extent the Trustee holds Trust assets, keep accounting records which correctly record and explain all amounts paid and received by the Trustee in its capacity as trustee of the Trust; and
(c) if and to the extent the Trustee holds Trust assets, keep the assets of the Trust separate from all other assets of the Trustee which are held in a capacity other than as trustee of the Trust.
Trustees’ undertakings. Where the Debtor is a trust (or trustee(s) acting in relation to a trust), and in addition to the obligations in clause 3, the trustees will ensure that, except to the extent that the Secured Parties consent: – the trust deed is not amended or revoked; – no existing trustee is removed or retires as trustee of the trust; – no new or additional trustee of the trust is appointed; – the trustees duly and punctually comply with their obligations under the trust deed; – no vesting date under the trust deed is determined during the term of this deed; and – no restriction or limitation on the right of indemnity of any trustee of the trust is created.
Trustees’ undertakings. Where the Debtor is a trust (or trustee(s) acting in relation to a trust), and in addition to the obligations in clause 3, the trustees will ensure that, except to the extent that the Secured Parties consent: – the trust deed is not amended or revoked; – no existing trustee is removed or retires as trustee of the trust; – no new or additional trustee of the trust is appointed; – the trustees duly and punctually comply with their obligations under the trust deed; – no vesting date under the trust deed is determined during the term of this deed; and – no restriction or limitation on the right of indemnity of any trustee of the trust is created. The Debtor confirms that: – it has not entered into any Bank Document in reliance on, or as a result of, any conduct of any kind of, or on behalf of, the Secured Parties or any Related Company of the Secured Parties (including any advice, warranty, representation or undertaking); and – neither the Secured Parties nor any Related Company of the Secured Parties are obliged to do anything (including disclosing anything or giving advice), except as expressly set out in the Bank Documents or in writing signed by or on behalf of the Secured Parties or any Related Company of the Secured Parties.