Common use of CHANGE OF SECURITY TRUSTEE Clause in Contracts

CHANGE OF SECURITY TRUSTEE. 17.1 If there is any change in the identity of the Security Trustee in accordance with the Deed of Charge, the Seller and the LLP shall execute such documents and take such action as the successor Security Trustee and the outgoing Security Trustee may reasonably require for the purpose of vesting in the successor Security Trustee the lights and powers of the outgoing Security Trustee hereunder and the Seller shall give notice thereof to the Rating Agencies. 17.2 It is hereby acknowledged and agreed that by its execution of this Agreement the Security Trustee shall not assume or have any obligations or liabilities to the Seller or the LLP hereunder.

CHANGE OF SECURITY TRUSTEE. ‌ 17.1 If there is any change in the identity of the Security Trustee in accordance with the Deed of Charge, the Seller and the LLP shall execute such documents and take such action as the successor Security Trustee and the outgoing Security Trustee may reasonably require for the purpose of vesting in the successor Security Trustee the lights and powers of the outgoing Security Trustee hereunder and the Seller shall give notice thereof to the Rating Agencies. 17.2 It is hereby acknowledged and agreed that by its execution of this Agreement the Security Trustee shall not assume or have any obligations or liabilities to the Seller or the LLP hereunder.