Common use of The Note Trustee Clause in Contracts

The Note Trustee. AGENTS TO ACT FOR NOTE TRUSTEE 3.1 At any time after an Event of Default has occurred, the Note Trustee may: (a) by notice in writing to the Trustee and each Agent, require each Agent thereafter as far as permitted by any applicable law and until notified by the Note Trustee to the contrary: (i) to act as an agent of the Note Trustee under the Note Trust Deed and the Class A Notes on the terms of this agreement (with consequential amendments as necessary and except that the Note Trustee's liability for the indemnification, remuneration and expenses of the Agents will be limited to the amounts for the time being held by the Note Trustee in respect of the Class A Notes on the terms of the Note Trust Deed) and thereafter to hold all Class A Notes and all moneys, documents and records held by them in respect of Class A Notes to the order of the Note Trustee; or (ii) to deliver all Class A Notes and all moneys, documents and records held by it in respect of the Class A Notes to the Note Trustee or as the Note Trustee directs in such notice other than any documents or records which the relevant Agent is obliged not to release by any law or regulation; and (b) by notice in writing to the Trustee require it to make all subsequent payments in respect of the Class A Notes to or to the order of the Note Trustee and not to the Principal Paying Agent.

The Note Trustee. AGENTS TO ACT FOR NOTE TRUSTEE TRUSTEE 3.1 At any time after an Event of Default has occurred, the Note Trustee may: (a) by notice in writing to the Issuer Trustee and each Agent, require each Agent thereafter as far as permitted by any applicable law and until notified by the Note Trustee to the contrary: (i) to act as an agent of the Note Trustee under the Note Trust Deed and the Class A Notes on the terms of this agreement (with consequential amendments as necessary and except that the Note Trustee's liability for the indemnification, remuneration and expenses of the Agents will be limited to the amounts for the time being held by the Note Trustee in respect of the Class A Notes on the terms of the Note Trust Deed) and thereafter to hold all Class A Notes and all moneys, documents and records held by them in respect of Class A Notes to the order of the Note Trustee; or (ii) to deliver all Class A Notes and all moneys, documents and records held by it in respect of the Class A Notes to the Note Trustee or as the Note Trustee directs in such notice other than any documents or records which the relevant Agent is obliged not to release by any law or regulation; and (b) by notice in writing to the Issuer Trustee require it to make all subsequent payments in respect of the Class A Notes to or to the order of the Note Trustee and not to the Principal Paying Agent.