Common use of Vendor as Trustee Clause in Contracts

Vendor as Trustee. (a) The Vendor enters into this agreement as trustee of the Trust. The Vendor has the power under the terms of the trust deed for the Trust to enter into and comply with its obligations under this agreement including the power to sell the Assets to the Purchaser. (b) The trust deed for the Trust constitutes legal, valid and binding obligations enforceable in accordance with its terms and the relevant trust deed is not void, voidable or otherwise unenforceable. (c) No resolution has been passed or direction given by the unitholders of the Trust for the winding up or termination of the Trust. (d) The Vendor has a right to be indemnified out of the Trust assets in respect of any and all obligations incurred by it under this agreement other than for fraud, negligence or breach of trust.