Acceptance by Successor. Every successor Paying Agent appointed hereunder shall execute, acknowledge and deliver to its predecessor and also to the Trust an instrument in writing accepting such appointment hereunder, whereupon such successor, without any further act, deed or conveyance, shall become fully vested with all the estates, properties, rights, powers, duties and obligations of its predecessors. Such predecessor shall, nevertheless, on the written request of its successor or the Trust, execute and deliver an instrument transferring to such successor all the estates, properties, rights and powers of such predecessor hereunder. Every predecessor Paying Agent shall forthwith deliver to the Trust or to any successor Paying Agent as requested by the Trust (i) copies of all books and records maintained by it and (ii) any funds deposited with the Paying Agent by the Trust.
Appears in 8 contracts
Samples: Paying Agent Agreement (2017 Mandatory Exchangeable Trust), Paying Agent Agreement (Mandatory Exchangeable Trust), Paying Agent Agreement (2010 Swift Mandatory Common Exchange Security Trust)
