AGENT
ANY NOTICE OR OTHER COMMUNICATION REQUIRED TO BE GIVEN BY THE SECURITY TRUSTEE
TO THE LENDERS.
105
30.5
SECURITY TRUSTEE'S ACTIONS
Subject to the provisions of this Clause 30:
(A)
THE SECURITY TRUSTEE MAY, IN THE
ABSENCE OF ANY INSTRUCTIONS TO THE CONTRARY, TAKE SUCH ACTION IN THE EXERCISE OF
ANY OF ITS POWERS AND DUTIES UNDER THE FINANCE DOCUMENTS WHICH IN ITS ABSOLUTE
DISCRETION IT CONSIDERS TO BE FOR THE PROTECTION AND BENEFIT OF ALL THE SECURED
PARTIES; AND
(B)
AT ANY TIME AFTER RECEIPT BY THE
SECURITY TRUSTEE OF NOTICE FROM THE FACILITY AGENT DIRECTING THE SECURITY
TRUSTEE TO EXERCISE ALL OR ANY OF ITS RIGHTS, REMEDIES, POWERS OR DISCRETIONS
UNDER ANY OF THE FINANCE DOCUMENTS, THE SECURITY TRUSTEE MAY, AND SHALL IF SO
DIRECTED BY THE FACILITY AGENT, TAKE ANY ACTION AS IN ITS SOLE DISCRETION IT
THINKS FIT TO ENFORCE THE TRANSACTION SECURITY TRUSTEE.
30.6
SECURITY TRUSTEE'S DISCRETIONS
(A)
THE SECURITY TRUSTEE MAY ASSUME (UNLESS
IT HAS RECEIVED ACTUAL NOTICE TO THE CONTRARY IN ITS CAPACITY AS SECURITY
TRUSTEE FOR THE SECURED PARTIES) THAT:
(I)
NO DEFAULT HAS OCCURRED AND NO OBLIGOR IS IN BREACH
OF OR DEFAULT UNDER ITS OBLIGATIONS UNDER ANY OF THE FINANCE DOCUMENTS; AND
(II)
ANY RIGHT, POWER, AUTHORITY OR DISCRETION VESTED IN ANY
PERSON HAS NOT BEEN EXERCISED.
(B)
THE SECURITY TRUSTEE MAY, IF IT RECEIVES
ANY INSTRUCTIONS OR DIRECTIONS FROM THE FACILITY AGENT TO TAKE ANY ACTION IN
RELATION TO THE TRANSACTION SECURITY TRUSTEE, ASSUME THAT ALL APPLICABLE
CONDITIONS UNDER THE FINANCE DOCUMENTS FOR TAKING THAT ACTION HAVE BEEN
SATISFIED.
(C)
THE SECURITY TRUSTEE MAY ENGAGE, PAY
FOR AND RELY ON THE ADVICE OR SERVICES OF ANY LAWYERS, ACCOUNTANTS, SURVEYORS OR
OTHER EXPERTS (WHETHER OBTAINED BY THE SECURITY TRUSTEE OR BY ANY OTHER SECURED
PARTY).
(D)
THE SECURITY TRUSTEE MAY RELY UPON ANY
COMMUNICATION OR DOCUMENT BELIEVED BY IT TO BE GENUINE AND, AS TO ANY MATTERS OF
FACT WHICH MIGHT REASONABLY BE EXPECTED TO BE WITHIN THE KNOWLEDGE OF A SECURED
PARTY OR AN OBLIGOR, UPON A CERTIFICATE SIGNED BY OR ON BEHALF OF THAT PERSON.
(E)
THE SECURITY TRUSTEE MAY REFRAIN FROM
ACTING IN ACCORDANCE WITH THE INSTRUCTIONS OF THE FACILITY AGENT OR LENDERS
(INCLUDING BRINGING ANY LEGAL ACTION OR PROCEEDING ARISING OUT OF OR IN
CONNECTION WITH THE FINANCE DOCUMENTS) UNTIL IT HAS RECEIVED ANY INDEMNIFICATION
AND/OR SECURITY THAT IT MAY IN ITS ABSOLUTE DISCRETION REQUIRE (WHETHER BY WAY
OF PAYMENT IN ADVANCE OR OTHERWISE) FOR ALL COSTS, LOSSES AND LIABILITIES WHICH
IT MAY INCUR IN BRINGING SUCH ACTION OR PROCEEDINGS.
106
30.7
SECURITY TRUSTEE'S OBLIGATIONS
The Security Trustee shall promptly inform the Facility Agent of:
(A)
THE CONTENTS OF ANY NOTICE OR DOCUMENT
RECEIVED BY IT IN ITS CAPACITY AS SECURITY TRUSTEE FROM ANY OBLIGOR UNDER ANY
FINANCE DOCUMENT; AND
(B)
THE OCCURRENCE OF ANY DEFAULT OF WHICH
THE SECURITY TRUSTEE HAS RECEIVED NOTICE FROM ANY OTHER PARTY TO THIS AGREEMENT.
30.8
EXCLUDED OBLIGATIONS
The Security Trustee shall not:
(A)
BE BOUND TO