THE SECURITY TRUSTEE ON ITS BEHALF IS
SUBSEQUENTLY REQUIRED TO PAY THAT AMOUNT (A "CLAWBACK AMOUNT") TO A LIQUIDATOR
(OR ANY OTHER PARTY) PURSUANT TO A COURT ORDER, THAT BENEFICIARY WILL
IMMEDIATELY PAY AN AMOUNT EQUAL TO SUCH CLAWBACK AMOUNT TO THE SECURITY TRUSTEE
FOR PAYMENT TO THE LIQUIDATOR (OR OTHER RELEVANT PARTY).
25.8.2
EACH BENEFICIARY THAT HAS RECEIVED A CLAWBACK AMOUNT SHALL INDEMNIFY
THE SECURITY TRUSTEE AGAINST ANY AND ALL COSTS, CLAIMS, LOSSES, EXPENSES
(INCLUDING LEGAL FEES) AND LIABILITIES TOGETHER WITH ANY VAT THEREON WHICH THE
SECURITY TRUSTEE MAY INCUR WITH RESPECT TO THAT CLAWBACK AMOUNT OTHERWISE THAN
BY REASON OF THE SECURITY TRUSTEE'S OWN GROSS NEGLIGENCE OR WILFUL MISCONDUCT.
26.
RESTRICTIONS AND LIMITATIONS ON AND EXCLUSIONS OF THE DUTIES AND
RESPONSIBILITIES OF THE SECURITY TRUSTEE
26.1
NO LIABILITY
The Security Trustee shall not:
26.1.1
BE OBLIGED TO MAKE ANY ENQUIRY AS TO ANY DEFAULT BY ANY CHARGOR IN
THE PERFORMANCE OR OBSERVANCE OF ANY PROVISION OF ANY OF THE SECURITY DOCUMENTS
OR AS TO WHETHER ANY EVENT OR CIRCUMSTANCE HAS OCCURRED AS A RESULT OF WHICH THE
SECURITY CONSTITUTED BY ANY OF THE SECURITY DOCUMENTS SHALL HAVE OR MAY BECOME
ENFORCEABLE;
26.1.2
BE LIABLE TO ANY OF THE BENEFICIARIES FOR ANY ACTION TAKEN OR
OMITTED UNDER OR IN CONNECTION WITH ANY OF THE SECURITY DOCUMENTS UNLESS CAUSED
BY ITS FRAUD, GROSS NEGLIGENCE OR WILFUL MISCONDUCT;
26.1.3
BE BOUND TO ACCOUNT TO ANY OTHER BENEFICIARY FOR ANY SUM OR THE
PROFIT ELEMENT OF ANY SUM RECEIVED BY IT FOR ITS OWN ACCOUNT;
26.1.4
BE BOUND TO DISCLOSE TO ANY OTHER PERSON (INCLUDING ANY BENEFICIARY)
(I) ANY CONFIDENTIAL INFORMATION OR (II) ANY OTHER INFORMATION IF DISCLOSURE
WOULD OR MIGHT IN ITS REASONABLE OPINION CONSTITUTE A BREACH OF ANY LAW OR BE A
BREACH OF FIDUCIARY DUTY;
26.1.5
HAVE OR BE DEEMED TO HAVE ANY DUTY, OBLIGATION OR RESPONSIBILITY TO,
OR RELATIONSHIP OF TRUST OR AGENCY WITH, ANY CHARGOR; OR
26.1.6
BE UNDER ANY OBLIGATION TO INSURE ANY OF THE SECURITY PROPERTY, TO
REQUIRE ANY OTHER PERSON TO MAINTAIN ANY INSURANCE OR TO VERIFY ANY OBLIGATION
TO ARRANGE OR MAINTAIN ANY INSURANCE CONTAINED IN THE FINANCE DOCUMENTS, THE
HEDGING FINANCE DOCUMENTS OR THE LEASE DOCUMENTS AND SHALL NOT BE RESPONSIBLE
FOR ANY LOSS WHICH MAY BE SUFFERED BY ANY PERSON AS A RESULT OF THE LACK OF OR
INADEQUACY OF ANY SUCH INSURANCE.
WHERE THE SECURITY TRUSTEE IS NAMED ON ANY
INSURANCE POLICY AS AN INSURED PARTY, IT SHALL NOT BE RESPONSIBLE FOR ANY LOSS
WHICH MAY BE SUFFERED BY REASON OF, DIRECTLY OR INDIRECTLY, ITS FAILURE TO
NOTIFY THE INSURERS OF ANY MATERIAL FACT RELATING TO THE RISK ASSUMED BY SUCH
INSURERS OR ANY OTHER INFORMATION OF ANY KIND, UNLESS ANY BENEFICIARY SHALL HAVE
REQUESTED IT TO DO SO IN WRITING AND THE SECURITY TRUSTEE SHALL HAVE FAILED TO
DO SO WITHIN FOURTEEN DAYS AFTER RECEIPT OF THAT REQUEST.
60
26.2
LIMITED DUTY TO NOTIFY
The Security Trustee shall not have any duty or responsibility, either initially
or on