Additional Security Trustees Clause Samples

Additional Security Trustees. 28.26.1 The Security Trustee may at any time appoint (and subsequently remove) any person to act as a separate security trustee or as a co-security trustee jointly with it (i) if it considers that appointment to be in the interests of the Secured Parties or (ii) for the purposes of conforming to any legal requirements, restrictions or conditions which the Security Trustee deems to be relevant or (iii) for obtaining or enforcing any judgment in any jurisdiction, and the Security Trustee shall give prior notice to the Borrower and the Agent of that appointment. 28.26.2 Any person so appointed shall have the rights, powers and discretions (not exceeding those conferred on the Security Trustee by this Agreement) and the duties and obligations that are conferred or imposed by the instrument of appointment. 28.26.3 The remuneration that the Security Trustee may pay to any person, and any costs and expenses incurred by that person in performing its functions pursuant to that appointment shall, for the purposes of this Agreement, be treated as costs and expenses incurred by the Security Trustee.

Additional Security Trustees. 30.3.1 The Security Trustee may at any time appoint (and subsequently remove) any person to act as a separate trustee or as a co-trustee jointly with it (i) if it considers that appointment to be in the interests of the Secured Parties or (ii) for the purposes of conforming to any legal requirements, restrictions or conditions which the Security Trustee deems to be relevant or (iii) for obtaining or enforcing any judgment in any jurisdiction, and the Security Trustee shall give prior notice to the Agent of that appointment. 30.3.2 Any person so appointed shall have the rights, powers and discretions (not exceeding those conferred on the Security Trustee by this Agreement) and the duties and obligations that are conferred or imposed by the instrument of appointment. 30.3.3 The remuneration that the Security Trustee may pay to that person, and any costs and expenses incurred by that person in performing its functions pursuant to that appointment shall, for the purposes of this Agreement, be treated as costs and expenses incurred by the Security Trustee unless such costs and expenses arise as a result of the wilful misconduct or gross negligence of that person.

Additional Security Trustees. (a) The Security Trustee may at any time appoint (and subsequently remove) any person to act as a separate trustee or as a co trustee jointly with it (i) if it considers that appointment to be in the interests of the Secured Parties or (ii) for the purposes of conforming to any legal requirements, restrictions or conditions which the Security Trustee deems to be relevant or (iii) for obtaining or enforcing any judgment in any jurisdiction, and the Security Trustee shall give prior notice to the Company, the Senior Agent and each of the Noteholders of that appointment. (b) Any person so appointed shall have the rights, powers and discretions (not exceeding those conferred on the Security Trustee by this Deed) and the duties and obligations that are conferred or imposed by the instrument of appointment. (c) The remuneration that the Security Trustee may pay to that person, and any costs and expenses (together with any applicable VAT) incurred by that person in performing its functions pursuant to that appointment shall, for the purposes of this Deed, be treated as costs and expenses incurred by the Security Trustee.

Additional Security Trustees. 16.2.1 The Security Trustee may at any time appoint any person to act as an additional security trustee or as a co-trustee jointly with it if it considers; (a) that appointment to be in the interests of the Secured Creditors; or (b) such appointment necessary for the purposes of conforming to any legal requirements, restrictions or conditions which the Security Trustee reasonably deems to be relevant; or (c) such appointment necessary or desirable with regard to any Transaction Security located in a particular jurisdiction; or (d) such appointment necessary or desirable for obtaining or enforcing any judgment in any jurisdiction, and the Security Trustee shall give prior written notice to each Debt Representative and the Issuer of any such appointment. 16.2.2 Any person appointed to act as an additional security trustee or as a co-trustee pursuant to sub-clause 16. 2.1 of this Clause 16.2 shall (subject to the terms of this Deed) have the rights, powers and discretions (not exceeding those conferred on the Security Trustee by this Deed) and the duties and obligations as are conferred or imposed by the instrument of appointment and this Deed and may be appointed for a fixed or indefinite period or on terms that its appointment may be terminated by notice. 16.2.3 The appointment of a person to act as an additional security trustee or as co-trustee pursuant to the provisions of sub-clause 16. 2.1 of this Clause 16.2 (but not where such appointment is for a specific purpose or a limited period) shall take effect upon the accession of such person to this Deed by the execution and delivery of an Agent/Trustee/New Bonding Facility Bank Accession Letter.