Trust Security Documents definition
Examples of Trust Security Documents in a sentence
References in this Mortgage to the “Transaction Documents” shall mean the collective reference to the Secured Instruments, the Collateral Trust Agreement, and the Trust Security Documents.
The Trustee shall have the right at any time to seek instructions concerning the administration of this Trust Agreement and the Trust Security Documents from any court of competent jurisdiction.
The Trustee makes no representations as to the value or condition of the Trust Estate or any part thereof, or as to the title of the Obligors thereto or as to the security afforded by this Trust Agreement or any Trust Security Document, or as to the validity, execution (except its execution), enforceability, legality or sufficiency of this Trust Agreement, the Trust Security Documents or the Secured Obligations, and the Trustee shall incur no liability or responsibility in respect of any such matters.
Except as specifically modified by this Agreement, the Collateral Trust Agreement and the other Collateral Trust Security Documents are hereby ratified and confirmed in all respects and shall remain in full force and effect in accordance with their respective terms.
Notwithstanding anything to the contrary in this Agreement, as security for the payment of Trustee Fees (i) the security interest and pledge granted to the Collateral Trustee hereunder and under the other Trust Security Documents shall have priority ahead of all other Secured Obligations secured by such Collateral and (ii) the Collateral Trustee shall have the right to use and apply any of the funds held by the Collateral Trustee in the Collateral Account to cover such Trustee Fees.
The Collateral Trustee shall be the secured party under the Trust Security Documents and shall hold the Collateral for the benefit of all the Secured Parties.
For the avoidance of doubt, any reasonable and documented out-of-pocket costs and expenses incurred by the Retiring Collateral Trustee in connection with the execution and delivery of this Agreement and the effectuation of the assignments contemplated hereby that remain unreimbursed after the Succession Effective Date shall constitute “Secured Obligations” and “First Priority Obligations” under the Collateral Trust Agreement and the other Collateral Trust Security Documents.
The table of contents and the headings of sections have been included herein and in the other Trust Security Documents for convenience only and should not be considered in interpreting this Agreement or the other Trust Security Documents.
IN TRUST NEVERTHELESS, under and subject to the conditions herein set forth and for the benefit of the Secured Parties, and for the enforcement of the payment of all Secured Obligations, and as security for the performance of and compliance with the covenants and conditions of this Trust Agreement, each of the Secured Instruments and each of the Trust Security Documents.
The Secured Parties hereby agree not to take any action whatsoever to enforce any term or provision of the Trust Security Documents or to enforce any right with respect to the Collateral, in conflict with this Agreement or the terms and provisions of the other Trust Security Documents.