Common use of Absolute Discretion Clause in Contracts

Absolute Discretion. save as expressly otherwise provided in this Deed, the Loan Note Conditions or the Series Related Documents, the Security Trustee shall have absolute and uncontrolled discretion as to the exercise of the trusts, powers, authorities and discretions vested in the Security Trustee by this Deed, the Loan Note Conditions and the Series Related Documents (the exercise of which as between the Security Trustee and the Loan Noteholders and other parties thereto shall be conclusive and binding on the Loan Noteholders and other parties thereto) and the Security Trustee shall not be responsible for any Liability that may result from the exercise or failure to exercise any such trust, power, authority and discretion but whenever the Security Trustee is under the provisions of this Deed, the Loan Note Conditions or the Series Related Documents bound to act at the request or direction of the Loan Noteholders, or any of them, or any other relevant party, the Security Trustee shall nevertheless not be so bound unless first indemnified and/or secured to its satisfaction against all actions, proceedings, claims and demands to which it may render itself liable and all costs, charges, damages, expenses and liabilities which it may incur by so doing;