TRUSTEE AS THIRD PARTY BENEFICIARY Clause Samples

The "Trustee as Third Party Beneficiary" clause establishes that the trustee is granted certain rights or benefits under the agreement, even though they are not a direct party to the contract. In practice, this means the trustee can enforce specific provisions or claim benefits intended for them, such as receiving payments or ensuring obligations are fulfilled for the trust's benefit. This clause is essential for protecting the interests of the trust and its beneficiaries by allowing the trustee to act if the contract's terms affecting the trust are not honored.
TRUSTEE AS THIRD PARTY BENEFICIARY. This Agreement has been made and entered into not only for the benefit of the Master Servicer, the Trust and NSLF but also for the benefit of the Trustee in connection with the financing of Eligible Loans, and upon assignment by the Trust to the Trustee, its provisions may be enforced not only by the parties to this Agreement but by the Trustee. The foregoing creates a permissive right on behalf of the Trustee and the Trustee shall be under no duties or obligations hereunder. This Agreement shall inure to the benefit of the Trustee and its successors and assigns. Without limiting the generality of the foregoing, all representations, covenants and agreements in this Agreement which expressly confer rights upon the Trustee shall be for the benefit of and run directly to, the Trustee, and the Trustee shall be entitled to rely on and enforce such representations, covenants and agreements to the same extent as if it were a party hereto. The foregoing creates a permissive right on behalf of the Trustee, and the Trustee shall be under no duties or obligations hereunder. If there is an Event of Default under the Indenture, the Trustee forecloses on its security interest on the Education Loans, and the Trustee seeks to become a party to this Agreement under this Section 32, then the Trustee shall assume all duties and obligations of the Trust hereunder, in accordance with and subject to the Indenture.
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TRUSTEE AS THIRD PARTY BENEFICIARY. The Trustee is hereby made a third party beneficiary hereof and is entitled to the benefits of this Agreement with the same force and effect as if the Trustee was a party hereto.
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TRUSTEE AS THIRD PARTY BENEFICIARY. To the extent that this Lease Agreement confers upon or gives or grants the Trustee any right, remedy or claim under or by reason of this Lease Agreement, the Trustee is hereby explicitly recognized as being a third-party beneficiary hereunder and may enforce any such right, remedy or claim conferred, given or granted hereunder.
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TRUSTEE AS THIRD PARTY BENEFICIARY. The rights of the ---------------------------------- Issuer under this Agreement (except for certain rights to payment of expenses and indemnification contained in Section 8.3 and 8.4) are to be assigned to the Trustee. The Borrower consents to such assignment and agrees that the Trustee shall be entitled to enforce this Agreement directly against the Borrower as a third party beneficiary hereof. WITNESS the following signatures, as of the day and in the month and year first above written. FAIRFAX COUNTY ECONOMIC DEVELOPMENT AUTHORITY By:_____________________________________ Title: ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, Chairman ▇▇▇▇▇▇ DEVELOPMENT ASSOCIATES LIMITED PARTNERSHIP, a Virginia limited partnership By:_____________________________________ Title: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇, General Partner
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TRUSTEE AS THIRD PARTY BENEFICIARY. The Trustee, for the benefit of the Certificateholders, shall be a third party beneficiary under this Agreement. However, except to the extent the Trustee or its designee assumes the obligations of the Master Servicer, none of the Trust Fund, the Trustee, any successor Master Servicer (unless and to the extent that the successor Master Servicer is a party to this Agreement), as the case may be, or any Certificateholder shall have any duties or any liabilities arising hereunder.
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TRUSTEE AS THIRD PARTY BENEFICIARY. The Trustee shall be a third party beneficiary of Sections 1-6 and 14-21 of this Agreement on behalf of the Owners of the 2022 Bonds and any other Bonds issued under the Indenture and shall be entitled to enforce on behalf of such Owners, all of the obligations and rights of the parties hereto in such Sections to the same extent as if the Trustee were one of the contracting parties, but subject to the limitations on the Trustee's liability set forth in the Indenture.
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TRUSTEE AS THIRD PARTY BENEFICIARY. The Trustee is an express third-party beneficiary to this Agreement. written.
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TRUSTEE AS THIRD PARTY BENEFICIARY. This Agreement has been made and entered into not only for the benefit of the Master Servicer, the Trust and NSLF but also for the benefit of the Trustee in connection with the financing of Eligible Loans, and upon assignment by the Trust to the Trustee, its provisions may be enforced not only by the parties to this Agreement but by the Trustee. The foregoing creates a permissive right on behalf of the Trustee and the Trustee shall be under no duties or obligations hereunder. This Agreement shall inure to the benefit of the Trustee and its successors and assigns. Without limiting the generality of the foregoing, all representations, covenants and agreements in this Agreement which expressly confer rights upon the Trustee shall be for the benefit of and run directly to, the Trustee, and the Trustee shall be entitled to rely on and enforce such representations, covenants and agreements to the same extent as if it were a party hereto. The foregoing creates a permissive right on behalf of the Trustee, and the Trustee shall be under no duties or obligations hereunder.
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Related to TRUSTEE AS THIRD PARTY BENEFICIARY

  • No Third Party Beneficiary The terms and provisions of this Agreement are intended solely for the benefit of each party hereto and their respective successors or permitted assigns, and it is not the intention of the parties to confer third-party beneficiary rights upon any other Person.

  • Assignment; No Third Party Beneficiaries 5.2.1 This Agreement and the rights, duties and obligations of the Company hereunder may not be assigned or delegated by the Company in whole or in part. 5.2.2 Prior to the expiration of the Founder Shares Lock-up Period or the Private Placement Lock-up Period, as the case may be, no Holder may assign or delegate such Holder’s rights, duties or obligations under this Agreement, in whole or in part, except in connection with a transfer of Registrable Securities by such Holder to a Permitted Transferee but only if such Permitted Transferee agrees to become bound by the transfer restrictions set forth in this Agreement. 5.2.3 This Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of each of the parties and its successors and the permitted assigns of the Holders, which shall include Permitted Transferees. 5.2.4 This Agreement shall not confer any rights or benefits on any persons that are not parties hereto, other than as expressly set forth in this Agreement and Section 5.2 hereof. 5.2.5 No assignment by any party hereto of such party’s rights, duties and obligations hereunder shall be binding upon or obligate the Company unless and until the Company shall have received (i) written notice of such assignment as provided in Section 5.1 hereof and (ii) the written agreement of the assignee, in a form reasonably satisfactory to the Company, to be bound by the terms and provisions of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement). Any transfer or assignment made other than as provided in this Section 5.2 shall be null and void.

  • Party Beneficiaries This Agreement is for the sole benefit of the parties hereto and their respective successors and permitted assigns, and nothing herein is to be construed to give any person or entity, other than the parties hereto and their respective successors and permitted assigns, any legal or equitable rights hereunder.

  • Third Party Beneficiary The Owner Trustee is a third-party beneficiary to this Agreement and is entitled to the rights and benefits hereunder and may enforce the provisions hereof as if it were a party hereto.