The Trustee will grant security over all of the
assets and undertakings of the Newpin SBB Trust
(including its rights under the UC Loan Deed) in
favour of the Security Trustee for the benefit of each
of the Investors, under a general security deed (the
General Security Deed). The Security Trust Deed will
be entered into between the Security Trustee and
the Trustee and each Investor must accede to this
Security Trust Deed.