Security Trustee's Powers Sample Clauses

Security Trustee's Powers. Without prejudice to the generality of the foregoing, at any time after the occurrence of an Event of Default or the security hereby constituted shall have become enforceable, the Security Trustee and any manager, employee, director or officer of the Security Trustee wheresoever situated, may, if the Security Trustee desires (but without being obliged to do so), without further notice and without first appointing a Receiver hereunder, exercise all the powers, rights and discretions conferred by this Deed, either expressly or by implication or reference, on a Receiver.
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Security Trustee's Powers. The restrictions contained in sections 93 and 103 of the Act shall not apply to the security constituted or intended to be constituted by this Deed and the powers contained in section 101 of the Act shall be immediately exercisable after the Security Trustee shall have demanded the discharge of any of the Secured Obligations.
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Security Trustee's Powers. The Security Trustee shall have no liability or responsibility to the Chargor arising out of the exercise or non-exercise of the powers conferred on it by this Clause 18, except for gross negligence or wilful default.
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Security Trustee's Powers. 9.1 The Secured Obligations shall be deemed to have become due for the purpose of this Charge and of Section 19 of the Act (exercise of power of sale and other powers), and the security created by the Chargor by or pursuant to this Charge shall become immediately enforceable, and the power of sale and other powers conferred by the Act in each case as varied and extended by this Charge, and the powers and remedies provided for herein shall be immediately exercisable in relation to the security created by or pursuant to this Charge, upon the execution and delivery of this Charge, but, as between the Security Trustee and the Chargor only (and not so as to prejudice or affect any third party), the Security Trustee agrees not to enforce this security or exercise any such powers except at any time after an Enforcement Event occurs. 9.2 Upon or at any time after this Charge has become enforceable pursuant to Clause 9.1 hereof:- (a) the Security Trustee and any nominee of the Security Trustee wherever situate may without further notice and without the restrictions contained in Section 17 of the Act (restriction or consolidation of mortgages) in respect of all or any of the Charged Portfolio, exercise all the powers or rights which may be exercisable by the registered holder of the Charged Portfolio and all other powers conferred on mortgagees by the Act as hereby varied or extended; and (b) any dividends or other payments which may be received or receivable by the Security Trustee or by any nominee in respect of any of the Charged Portfolio may be applied by the Security Trustee as though they were proceeds of sale. 9.3 Section 20 of the Act (regulation of the power of sale) shall not apply in relation to the security created by or pursuant to this Charge and the statutory power of sale contained in the Act (as extended by this Charge) and any other power whether implied by statute or otherwise shall be exercisable immediately upon the security hereby created becoming enforceable. Section 17 of the Act (restriction on consolidation of mortgages) shall not apply to the Charged Portfolio or to any security given to the Security Trustee pursuant to this Charge. 9.4 In exercising the powers referred to in Clause 9.2, the Charged Portfolio or any part thereof may be sold or disposed of at such times in such manner and generally on such terms and conditions and for such consideration as the Security Trustee may think fit. Any such sale or disposition may be for cash, de...
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Security Trustee's Powers. 17 13. Receiver..............................................................17 14.
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Security Trustee's Powers. The restrictions contained in sections 93 and 103 of the Act shall not apply to the Security and the powers contained in section 101 of the Act shall be immediately exercisable at any time after the Security Trustee becomes entitled to appoint a Receiver pursuant to Clause 9.1 and shall be varied and extended so that the Security Trustee shall at any such time be entitled (without prejudice to any other rights or powers of a mortgagee) to exercise any of the powers conferred upon a Receiver by Clause 9 and shall have the benefit of all the provisions of Clause 9.
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Security Trustee's Powers. On the occurrence of an Event of Default or if the Chargor requests that the Security Trustee exercises any of its powers under this clause 6.1, this deed shall become enforceable and the Security Trustee may immediately or at any time thereafter: (a) exercise the power of sale and all other powers conferred by s.101 of the LPA as varied or extended by this deed; (b) subject to s.72A of the Insolvency Act, appoint one or more persons as a Receiver of any Charged Property; (c) exercise all the powers conferred on a Receiver by this deed, the LPA and the Insolvency Act; (d) secure and perfect its title to all or any part of the Charged Property and/or transfer any asset into the name of its nominee; (e) exercise all the powers conferred on a Receiver by this deed, the LPA and the Insolvency Act; (f) to the extent that this deed constitutes a "security financial collateral arrangement" as defined in the Financial Collateral Regulations, appropriate any Charged Property which constitutes "financial collateral" as defined in the Financial Collateral Regulations in or towards satisfaction of the Secured Liabilities and the Security Trustee shall value such Charged Property by reference to an independent valuation or other procedure selected by the Security Trustee acting reasonably.
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Security Trustee's Powers 
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Related to Security Trustee's Powers

  • Security Trustee SIGNED by ) for and on behalf of ) THE BANK OF NEW YORK )

  • Trustee’s Powers 5.1 In addition to all of the powers conferred upon the Trustees by the other provisions of this Deed or by any statute or general rule of law, but subject always to paragraphs 5.4 and 5.5, the Trustees are hereby given the power to administer the Trust Fund in whatever manner they consider appropriate, and they may take any action in connection with the Trust Fund, and may exercise any power which may now exist or which may arise in the future, to the same extent and as fully as an individual could do, if such individual were the sole beneficial owner of the Trust Fund. 5.2 Without limiting the generality of paragraph 5.1, but subject always to paragraphs 5.4 and 5.5, the Trustees may exercise any or all of the powers set out in the Schedule to this Deed, as they consider appropriate. 5.3 Each and every power conferred upon the Trustees by this Deed: (a) is an absolute and unfettered power which may be exercised at any time or times and in such manner as the Trustees consider appropriate, and so long as the Trustees act honestly and in good faith when exercising any such power: (i) no exercise of any such power may be challenged, reversed, reviewed or called into question by the Board, by any person that receives a distribution from this Trust, or by any court having jurisdiction over this Trust or the Trustees; and (ii) the Trustees shall not be obliged to give any reason or justification for the exercise or non-exercise of any such power to the Board, the Company or to any person that receives a distribution from this Trust, or to any court having jurisdiction over this Trust or the Trustees; (b) includes the right to refrain from exercising such power; and (c) includes the right to use any part or all of the Trust Fund to pay the costs, charges and expenses incidental to, or associated with, the exercise of such power. 5.4 When exercising any power, the Trustees must have regard to the directions of the Board as expressed to the Trustees from time to time in writing. 5.5 Notwithstanding any other paragraph of this Deed, the Trustees shall not exercise any power contained or referred to in the following enumerated paragraphs of the Schedule to this Deed without first obtaining the Board’s written consent:

  • The Security Trustee The Security Trustee has agreed to become a party to this Agreement for the better preservation and enforcement of its rights under this Agreement but shall have no responsibility for any of the obligations of, nor assume any liabilities to, the Cash Manager, the Account Banks, the Mortgages Trustee or Funding hereunder.

  • Collateral Trustee (a) The Collateral Trustee will hold (directly or through co-trustees or agents) and, subject to the terms of the Intercreditor Agreement, will be entitled to enforce all Liens on the Collateral created by the Security Documents. (b) Except as provided in the Collateral Trust Agreement or as directed by an Act of Parity Lien Debtholders in accordance with the Collateral Trust Agreement, the Collateral Trustee will not be obligated: (i) to act upon directions purported to be delivered to it by any Person; (ii) to foreclose upon or otherwise enforce any Lien; or (iii) to take any other action whatsoever with regard to any or all of the Security Documents, the Liens created thereby or the Collateral. The Company will deliver to each Parity Lien Representative copies of all Security Documents delivered to the Collateral Trustee. (c) By accepting a Security, each Holder is deemed to authorize the Collateral Trustee to release or subordinate any Collateral that is permitted to be sold, reclassified or released or be subject to a Priority Lien pursuant to the terms of this Indenture and the Security Documents. By accepting a Security, each Holder is deemed to authorize the Collateral Trustee to execute and deliver to the Company, at the Company’s sole cost and expense, any and all releases of Liens, termination statements, assignments or other documents reasonably requested by the Company in connection with any sale, reclassification or other disposition of Collateral to the extent such sale, reclassification or other disposition, and such release of Liens, is permitted by the terms of this Indenture, the Security Documents and the Intercreditor Agreement. (d) Neither the Trustee nor the Collateral Trustee nor any of their respective officers, directors, employees, attorneys or agents shall be responsible for (i) perfecting, maintaining, monitoring, preserving or protecting the security interest or ▇▇▇▇ granted under the Security Documents or any agreement or instrument contemplated hereby or thereby, (ii) the filing, re-filing, recording, re-recording or continuing of any document, financing statement, Mortgage, assignment, notice, instrument of further assurance or other instrument in any public office at any time or times or (iii) providing, maintaining, monitoring or preserving insurance on or the payment of taxes with respect to the Collateral. The actions described in clauses (i) through (iii) shall be the sole responsibility of the Company and the Subsidiary Guarantors. (e) Neither the Trustee nor the Collateral Trustee nor any of their respective officers, directors, employees, attorneys or agents will be responsible or liable for the existence, genuineness, value or protection of any Collateral, for the legality, enforceability, effectiveness, or sufficiency of the Collateral Documents, for the creation, perfection, priority, sufficiency or protection of any Lien, including payment of any Taxes, charges or assessments upon the Collateral or otherwise as to the maintenance of the Collateral, or for any defect or deficiency as to any such matters, or, except as may be provided in the Collateral Trust Agreement, for any failure to demand, collect, foreclose or realize upon or otherwise enforce any of the Liens or Collateral Documents or any delay in doing so. Neither the Trustee nor the Collateral Trustee nor any of their respective officers, directors, employees, attorneys or agents will be responsible or liable for making any filings or recordings to perfect or maintain the perfection of the Collateral Trustee’s Lien in the Collateral, including without limitation, the filing of any Uniform Commercial Code financing statements, continuation statements, Mortgages or any other filings. (f) In acting hereunder and under the other Note Documents, the Holders, the Company and the Subsidiary Guarantors agree that the Collateral Trustee shall be entitled to the rights, privileges, protections, immunities, indemnities and benefits provided to the Trustee hereunder as if such were provided to the Collateral Trustee.

  • Collateral Agent Each Buyer hereby (i) appoints ▇▇▇▇▇▇ Bay Master Fund Ltd., as the collateral agent hereunder and under the other Security Documents (in such capacity, the “Collateral Agent”), and (ii) authorizes the Collateral Agent (and its officers, directors, employees and agents) to take such action on such Buyer’s behalf in accordance with the terms hereof and thereof. The Collateral Agent shall not have, by reason hereof or any of the other Security Documents, a fiduciary relationship in respect of any Buyer. Neither the Collateral Agent nor any of its officers, directors, employees or agents shall have any liability to any Buyer for any action taken or omitted to be taken in connection hereof or any other Security Document except to the extent caused by its own gross negligence or willful misconduct, and each Buyer agrees to defend, protect, indemnify and hold harmless the Collateral Agent and all of its officers, directors, employees and agents (collectively, the “Collateral Agent Indemnitees”) from and against any losses, damages, liabilities, obligations, penalties, actions, judgments, suits, fees, costs and expenses (including, without limitation, reasonable attorneys’ fees, costs and expenses) incurred by such Collateral Agent Indemnitee, whether direct, indirect or consequential, arising from or in connection with the performance by such Collateral Agent Indemnitee of the duties and obligations of Collateral Agent pursuant hereto or any of the Security Documents. The Collateral Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Holders, and such instructions shall be binding upon all holders of Notes; provided, however, that the Collateral Agent shall not be required to take any action which, in the reasonable opinion of the Collateral Agent, exposes the Collateral Agent to liability or which is contrary to this Agreement or any other Transaction Document or applicable law. The Collateral Agent shall be entitled to rely upon any written notices, statements, certificates, orders or other documents or any telephone message believed by it in good faith to be genuine and correct and to have been signed, sent or made by the proper Person, and with respect to all matters pertaining to this Agreement or any of the other Transaction Documents and its duties hereunder or thereunder, upon advice of counsel selected by it.