Examples of General Security Deed in a sentence
Subject to Clauses 8.3, 9.2, 9.3 and 9.4 and the mandatory provisions of the TIA, the US$ Note Trustee will not be liable for any decline in the value, nor any loss realised upon any sale or other dispositions made under the Master Security Trust Deed and the General Security Deed, of any Secured Property.
Subject to the Master Security Trust Deed, the General Security Deed and the mandatory provisions of the TIA, only the US$ Note Trustee may enforce, or direct the Security Trustee to enforce, the obligations of the Issuer or the Manager to the US$ Noteholders under the US$ Notes, this Deed or any other Transaction Document, unless the US$ Note Trustee has become bound to take steps or to proceed under this Deed and fails to do so within a reasonable time and such failure is continuing.
The provisions of this Deed, the US$ Notes (including the US$ Note Conditions), the Master Trust Deed, the Trust Creation Deed, the Series Supplement, the Master Security Trust Deed and the General Security Deed are binding upon every Interested Person.
All creditors secured by the Mortgages and the General Security Deed rank equally.
On each Distribution Date after the Closing Date and prior to the enforcement of the Security (as defined in the General Security Deed), the Trustee must, subject to Clauses 4.7(d) and (e), repay the outstanding principal on the A$ Notes in part by applying the Total Principal Collections on each Distribution Date in accordance with Clauses 4.7 and 9.1 to 9.3 (inclusive) until the Invested Amounts of the Class B Notes, Class C Notes, Class D Notes, Class E Notes and Seller Notes are reduced to zero.