Common use of Security Agent as trustee Clause in Contracts

Security Agent as trustee. (a) The Security Agent in its capacity as trustee or otherwise: (i) shall not be liable for any failure, omission, or defect in perfecting the security constituted by any Security Document or any security created thereby; (ii) may accept without enquiry such title as any Obligor may have to the property over which security is intended to be created by any Security Document. (b) Save where the Security Agent holds a legal mortgage over, or over an interest in, real property or shares, the Security Agent in its capacity as trustee or otherwise shall not be under any obligation to hold any title deeds, Security Documents or any other documents in connection with the property charged by any Security Document or any other such security in its own possession or to take any steps to protect or preserve the same. The Security Agent may permit the relevant Obligor to retain all such title deeds and other documents in its possession. (c) Save as otherwise provided in the Security Documents, all moneys which under the trusts herein or therein contained are received by the Security Agent in its capacity as trustee or otherwise may be invested in the name of or under the control of the Security Agent in any investment for the time being authorised by English law for the investment by trustees of trust money or in any other investments which may be selected by the Security Agent with the consent of the Majority Banks. Additionally, the same may be placed on deposit in the name of or under the control of the Security Agent at such bank or institution (including any Agent) and upon such terms as the Security Agent may think fit. Any and all such monies and all interest thereon shall be paid over to the Facility Agent forthwith upon demand by the Facility Agent. (d) Each Finance Party authorises, empowers and directs the Security Agent (by itself or by such person(s) as it may nominate) to execute and enforce the Security Documents as trustee or as otherwise provided (and whether or not expressly in the Finance Parties' names) on its behalf.

Security Agent as trustee. (a) The Security Agent in its capacity as trustee Trustee or otherwise: (i) otherwise shall not be liable for any failure, omission, or defect in perfecting the security constituted by any Security Document or any security created thereby;thereby including, without limitation, any failure to register the same in accordance with the provisions of any of the documents of title of the relevant Obligor to any of the property thereby charged. 83 (iib) The Security Agent in its capacity as Trustee or otherwise may accept without enquiry such title as any Obligor may have to the property over which security is intended to be created by any Security Document. (bc) Save where the Security Agent holds a legal mortgage over, over or over an interest in, real property or shares, the Security Agent in its capacity as trustee Trustee or otherwise shall not be under any obligation to hold any title deeds, Security Documents or any other documents in connection with the property charged by any Security Document or any other such security in its own possession or to take any steps to protect or preserve the same. The Security Agent may permit the relevant Obligor to retain all such title deeds and other documents in its possession. (cd) Save as otherwise provided in the Security Documents, all moneys which under the trusts herein or therein contained are received by the Security Agent in its capacity as trustee Trustee or otherwise may be invested in the name of or under the control of the Security Agent in any investment for the time being authorised by English law for the investment by trustees of trust money or in any other investments which may be selected by the Security Agent with the consent of the Majority Banks. Additionally, the same may be placed on deposit in the name of or under the control of the Security Agent at such bank or institution (including any Agent) and upon such terms as the Security Agent may think fit. Any and all such monies and all interest thereon shall be paid over to the Facility Agent forthwith upon demand by the Facility Agent. (de) Each Bank hereby confirms its approval of the Finance Party Documents and any security created or to be created pursuant thereto and hereby authorises, empowers and directs the Security Agent (by itself or by such person(s) as it may nominate) to execute and enforce the Security Documents same as trustee or as otherwise provided (and whether or not expressly in the Finance PartiesBanks' names) on its behalf.

Security Agent as trustee. (a) The Security Agent in its capacity as trustee or otherwise: (i) shall not be liable for any failure, omission, or defect in perfecting the security constituted by any Security Document or any security created thereby; (ii) may accept without enquiry such title as any Obligor may have to the property over which security is intended to be created by any Security Document. (b) Save where the Security Agent holds a legal mortgage over, or over an interest in, real property or shares, the Security Agent in its capacity as trustee or otherwise shall not be under any obligation to hold any title deeds, Security Documents or any other documents in connection with the property charged by any Security Document or any other such security in its own possession or to take any steps to protect or preserve the same. The Security Agent may permit the relevant Obligor to retain all such title deeds and other documents in its possession. (c) Save as otherwise provided in the Security Documents, all moneys which under the trusts herein or therein contained are received by the Security Agent in its capacity as trustee or otherwise may be invested in the name of or under the control of the Security Agent in any investment for the time being authorised by English law for the investment by trustees of trust money or in any other investments which may be selected by the Security Agent with the consent of the Majority BanksLenders. Additionally, the same may be placed on deposit in the name of or under the control of the Security Agent at such bank or institution (including any Agent) and upon such terms as the Security Agent may think fit. Any and all such monies and all interest thereon shall be paid over to the Facility Agent forthwith upon demand by the Facility Agent. (d) Each Finance Party authorises, empowers and directs the Security Agent (by itself or by such person(s) as it may nominate) to execute and enforce the Security Documents as trustee and/or agent or as otherwise provided (and whether or not expressly in the Finance Parties' names) on its behalf.

Security Agent as trustee. (a) The Security Agent in its capacity as trustee or otherwise: (i) shall not be liable for any failure, omission, or defect in perfecting the security constituted by any Security Document or any security created thereby; (ii) may accept without enquiry such title as any Obligor may have to the property over which security is intended to be created by any Security Document. (b) Save where the Security Agent holds a legal mortgage over, or over an interest in, real property or shares, the Security Agent in its capacity as trustee or otherwise shall not be under any obligation to hold any title deeds, Security Documents or any other documents in connection with the property charged by any Security Document or any other such security in its own possession or to take any steps to protect or preserve the same. The Security Agent may permit the relevant Obligor to retain all such title deeds and other documents in its possession. (c) Save as otherwise provided in the Security Documents, all moneys which under the trusts herein or therein contained are received by the Security Agent in its capacity as trustee or otherwise may be invested in the name of or under the control of the Security Agent in any investment for the time being authorised by English law for the investment by trustees of trust money or in any other investments which may be selected by the Security Agent with the consent of the Majority BanksLenders. Additionally, the same may be placed on deposit in the name of or under the control of the Security Agent at such bank or institution (including any Agent) and upon such terms as the Security Agent may think fit. Any and all such monies and all interest thereon shall be paid over to the Facility Agent forthwith upon demand by the Facility Agent. (d) Each Finance Party authorises, empowers and directs the Security Agent (by itself or by such person(s) as it may nominate) to execute and enforce the Security Documents as trustee or as otherwise provided (and whether or not expressly in the Finance Parties' names) on its behalf.

Security Agent as trustee. (a) The Security Agent in its capacity as trustee or otherwise: (i) otherwise shall not be liable for any failure, omission, or defect in perfecting the security constituted by any Security Document or any security created thereby;thereby including, without limitation, any failure to register the same in accordance with the provisions of any of the documents of title of the relevant Obligor to any of the property thereby charged. (iib) The Security Agent in its capacity as Trustee or otherwise may accept without enquiry such title as any Obligor may have to the property over which security is intended to be created by any Security Document. (bc) Save where the Security Agent holds a legal mortgage over, over or over an interest in, real property or shares, the Security Agent in its capacity as trustee Trustee or otherwise shall not be under any obligation to hold any title deeds, Security Documents or any other documents in connection with the property charged by any Security Document or any other such security in its own possession or to take any steps to protect or preserve the same. The Security Agent may permit the relevant Obligor to retain all such title deeds and other documents in its possession. (cd) Save as otherwise provided in the Security Documents, all moneys which under the trusts herein or therein contained are received by the Security Agent in its capacity as trustee Trustee or otherwise may be invested in the name of or under the control of the Security Agent in any investment for the time being authorised by English law for the investment by trustees of trust money or in any other investments which may be selected by the Security Agent with the consent of the Majority Banks. Additionally, the same may be placed on deposit in the name of or under the control of the Security Agent at such bank or institution (including any Agent) and upon such terms as the Security Agent may think fit. Any and all such monies and all interest thereon shall be paid over to the Facility Agent forthwith upon demand by the Facility Agent. (de) Each Bank hereby confirms its approval of the Finance Party Documents and any security created or to be created pursuant thereto and hereby authorises, empowers and directs the Security Agent (by itself or by such person(s) as it may nominate) to execute and enforce the Security Documents same as trustee or as otherwise provided (and whether or not expressly in the Finance PartiesBanks' names) on its behalf.

Security Agent as trustee. (a) The Security Agent in its capacity as trustee or otherwise: (i) otherwise shall not be liable for any failure, omission, or defect in perfecting the security constituted by any Security Document or any security created thereby;thereby including, without limitation, any failure to register the same in accordance with the provisions of any of the documents of title of the relevant Obligor to any of the property thereby charged. (iib) The Security Agent in its capacity as trustee or otherwise may accept without enquiry such title as any Obligor may have to the property over which security is intended to be created by any Security Document. (bc) Save where the Security Agent holds a legal mortgage over, over or over an interest in, real property or shares, the Security Agent in its capacity as trustee or otherwise shall not be under any obligation to hold any title deeds, Security Documents or any other documents in connection with the property charged by any Security Document or any other such security in its own possession or to take any steps to protect or preserve the same. The Security Agent may permit the relevant Obligor to retain all such title deeds and other documents in its possession. (cd) Save as otherwise provided in the Security Documents, all moneys which under the trusts herein or therein contained are received by the Security Agent in its capacity as trustee Trustee or otherwise may be invested in the name of or under the control of the Security Agent in any investment for the time being authorised by English law for the investment by trustees of trust money or in any other investments which may be selected by the Security Agent with the consent of the Majority Banks. Additionally, the same may be placed on deposit in the name of or under the control of the Security Agent at such bank or institution (including any Agent) and upon such terms as the Security Agent may think fit. Any and all such monies and all interest thereon shall be paid over to the Facility Agent forthwith upon demand by the Facility Agent. (de) Each Bank hereby confirms its approval of the Finance Party Documents and any security created or to be created pursuant thereto and hereby authorises, empowers and directs the Security Agent (by itself or by such person(s) as it may nominate) to execute and enforce the Security Documents same as trustee or as otherwise provided (and whether or not expressly in the Finance PartiesBanks' names) on its behalf.