Current Issuer Security definition
Examples of Current Issuer Security in a sentence
Notwithstanding anything else in this Current Issuer Deed of Charge, it is hereby agreed that dispositions of property effected in or pursuant to this Clause 3 (Current Issuer Security) do not transfer obligations, and nothing herein shall be construed as a transfer of obligations to, the Note Trustee.
Each of the dispositions of, assignments of and charges over property effected in or pursuant to this Clause 3 (Current Issuer Security) is made with full title guarantee.
Furthermore, the Note Trustee will be relieved of liability for making searches or other inquiries in relation to the assets comprising the Current Issuer Security.
The Note Trustee will not be responsible for any loss, expense or liability which may be suffered as a result of any assets comprised in the Current Issuer Security, or any deeds or documents of title thereto, being uninsured or inadequately insured or being held by clearing organisations or their operators or by intermediaries such as banks, brokers or other similar persons on behalf of the Note Trustee.
Subject to the order of priorities of payment set out in Schedule 2 or, as the case may be, the Current Issuer Deed of Charge, on each Payment Date prior to the enforcement of the Current Issuer Security under the Current Issuer Deed of Charge, the Current Issuer Cash Manager will pay Current Issuer Available Revenue Receipts received in respect of the Current Issuer Intercompany Loan (after making payments ranking higher in the order or priority of payments) to the Current Issuer Basis Rate Swap Provider.
The Note Trustee may, at its discretion and without notice, at any time after the Current Issuer Security has become enforceable, take such steps as it may think fit to enforce the Current Issuer Security.
The Note Trustee will not be responsible for any deficiency which may arise because it is liable to tax in respect of the proceeds of any Current Issuer Security.
The Note Trustee does not have any responsibility in relation to the legality and the enforceability of the trust arrangements and the related Current Issuer Security.
The Current Issuer Trust Deed and the Current Issuer Deed of Charge contain provisions governing the responsibility (and relief from responsibility) of the Note Trustee and providing for its indemnification in certain circumstances, including, among others, provisions relieving it from taking enforcement proceedings or enforcing the Current Issuer Security unless indemnified to its satisfaction.
Amounts available for distribution after enforcement of the Current Issuer Security shall be distributed in accordance with the terms of the Current Issuer Deed of Charge.