Examples of Master Security Trust Deed in a sentence
The Security Trustee is hereby appointed and agrees to act as trustee of the Security Trust constituted by this Deed on the terms and conditions in the Master Security Trust Deed and this Deed.
The US$ Note Trustee will not assign or otherwise transfer all or any part of the benefit of this Deed or any of its rights, duties and obligations under this Deed and the Master Security Trust Deed except to a substitute US$ Note Trustee appointed under and in accordance with the US$ Note Trust Deed.
Clause 25 of the Master Security Trust Deed does not apply in respect of the Secured Series Trust.
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 Clauses 8.1, 8.6 and 8.7, the terms and conditions of the Master Security Trust Deed are binding on the US$ Note Trustee and all persons claiming through the US$ Note Trustee as if the US$ Note Trustee and such persons were a party to the Master Security Trust Deed.
Clause 14.4 of the Master Security Trust Deed is taken to be incorporated in this Deed as if set out in full in it except that any reference to “a Secured Series Trust” is taken to be a reference to the Secured Series Trust, any reference to “a General Security Deed” is taken to be a reference to this Deed and any reference to “a Security Trust” is taken to be a reference to the Security Trust established under clause 2.2 of the Master Security Trust Deed in relation to the Secured Series Trust.
The US$ Note Trustee and all persons claiming through the US$ Note Trustee will have the benefit of, and are entitled to enforce, the Master Security Trust Deed in accordance with its terms even though they may not be a party to, or are not in existence at the time of execution and delivery of, the Master Security Trust Deed.
Notwithstanding any other provision of this Deed or any provision of the Master Security Trust Deed, the US$ Note Trustee has no rights, obligations or liabilities under this Deed or the Master Security Trust Deed until the US$ Note Trust Deed has been executed by all parties to it.
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.
Clause 26 of the Master Security Trust Deed is taken to be incorporated in this Deed as if set out in full in it except that any reference to “a Secured Series Trust” or “that Secured Series Trust” is taken to be a reference to the Secured Series Trust.