18.3  Indemnity held on trust

The Proponent declares and acknowledges that:

(a)  each indemnity and right referred to in this deed in favour of any of the State's Associates is held on trust by the State for the benefit of any of the State's Associates from the date of this deed; and

(b)  the consent of the State's Associates referred to in clause 18.3(a) will not be required for any amendment to, or waiver of rights under, this deed.