Common use of Security Agent as trustee Clause in Contracts

Security Agent as trustee. (a) The Security Agent declares that it holds the Transaction Security on trust for the Finance Parties on the terms contained in this Agreement. (b) Each Finance Party in relation to the Facility appoints the Security Agent to act as its trustee with respect to the Transaction Security Documents. (c) Each of the Finance Parties in relation to the Facility authorises the Security Agent in respect of the Facility to sign the Transaction Security Documents for the Facility and to perform the duties, obligations and responsibilities and to exercise the rights, powers, authorities and discretions specifically given to the Security Agent under or in connection with the Finance Documents together with any other incidental rights, powers, authorities and discretions.