Common use of Appointment; Definitions; Interpretation Appointment Clause in Contracts

Appointment; Definitions; Interpretation Appointment. 1.1 FSSI appoints the Supervisor, and the Supervisor accepts appointment as, the supervisor of FSSI's issue of Deposits, on the terms and subject to the provisions of this Deed and applicable law. 1.2 The Supervisor agrees to: (a) act on behalf of the Holders in relation to: (i) FSSI; (ii) any matter connected with this Deed or the terms of a regulated offer of Deposits; and (iii) any contravention or alleged contravention of the Issuer Obligations; and (b) supervise FSSI’s performance: (i) of its Issuer Obligations; and (ii) in order to ascertain whether the assets of FSSI and any Guaranteeing Subsidiary that are or may be available, whether by way of security or otherwise, are sufficient or likely to be sufficient to discharge the Principal Moneys, interest and other monies payable on, or in relation to the Deposits as they become due; and (c) perform or exercise any other functions, duties, and powers conferred or imposed on the Supervisor by or under the FMCA, the Financial Markets Supervisors ▇▇▇ ▇▇▇▇ or this Deed. 1.3 The Supervisor shall hold the following in trust for the benefit of the Holders: (a) the right to enforce FSSI’s duty to repay, or to pay interest, under the terms of the Deposits; (b) any security for repayment of the Deposits; and (c) the right to enforce any other duties that FSSI, any Guaranteeing Subsidiary, and any other person has under: (i) the terms of the Deposits; or (ii) the provisions of this Deed or the FMCA in relation to the Deposits.