Acknowledgement by the Account Bank Sample Clauses

Acknowledgement by the Account Bank. 8.1 Notwithstanding anything to the contrary in the Account Bank Mandate, the Account Bank hereby: (a) acknowledges that pursuant to the Deed of Charge the Issuer has assigned by way of security or intends to assign by way of security its interest in the Issuer Accounts to the Trustee by way of security for amounts owed in respect of the Notes; and (b) subject to execution of the Deed of Charge (such execution to be notified by the Issuer to the Account Bank), waives any right it has or may hereafter acquire to combine, consolidate or merge the Transaction Account or the Swap Collateral Account with each other or with any other account of the Issuer or any other person or any liabilities of the Issuer or any other person to the Account Bank and agrees that it may not set off, transfer, combine or withhold payment of any sum standing to the credit of either the Transaction Account or the Swap Collateral Account in or towards or conditionally upon satisfaction of any liabilities to it of the Issuer or any other person. 8.2 Subject to execution of the Trust Deed, the Account Bank agrees (with the consent of the Issuer), upon receipt of a written notice from the Trustee stating that the Trustee has served an Enforcement Notice (a copy of which shall be enclosed with such notice): (a) to comply with any instruction of the Trustee expressed to be given by the Trustee or any receiver appointed by the Trustee pursuant to the Trust Deed in respect of the operation of the Issuer Accounts and the Account Bank shall be entitled to rely on any such instruction purporting to have been given on behalf of the Trustee or such receiver without enquiry; and (b) that all right, authority and power of the Issuer in respect of the operation of the Issuer Accounts shall be deemed to be terminated and of no further effect, 8.3 Until the Account Bank shall have been notified in writing by the Trustee that none of the Notes are outstanding, the Account Bank shall provide the Issuer and the Cash Manager (in each case, or any successor thereto in such capacity of which the Account Bank has been notified in writing) with a monthly statement in respect of each of the Issuer Accounts or an ad hoc statement upon request from time to time, and in the latter case such statement shall be provided as soon as reasonably practicable after receipt of a request for a statement.

Acknowledgement by the Account Bank. ‌ 4.1 Restriction on Account Bank’s Rights Notwithstanding anything to the contrary in the Mandates, the Account Bank hereby: (a) agrees that, in its capacity as Account Bank, it will not exercise any lien or, to the extent permitted by law, any set-off or transfer any sum standing to the credit of or to be credited to any of the Guarantor Accounts maintained with the Account Bank in or towards satisfaction of any liabilities owing to it by any person (including, without limitation, any liabilities owing to it by the Guarantor or the Bond Trustee); (b) without prejudice to its rights and obligations as a Secured Creditor under the Security Agreement, agrees that it will not, solely in its capacity as Account Bank, procure, or take any steps whatsoever to recover any amount due or owing to it pursuant to this Agreement which could result in, the winding-up or liquidation of the Guarantor or any of its general partners or the making of an administration order in relation to the Guarantor or any of its general partners in respect of any of the liabilities of the Guarantor whatsoever; (c) agrees that it will promptly notify the Guarantor, the Bond Trustee and the Cash Manager if compliance with any instruction would cause the relevant Guarantor Account(s) to which such instruction relates to have a negative balance; and (d) acknowledges that the Guarantor has, pursuant to the Security Agreement, inter alia, assigned by way of security all its rights, title, interest and benefit, present and future, in and to, all sums from time to time standing to the credit of the Guarantor Accounts and all of its rights under this Agreement to the Bond Trustee (for itself and on behalf of the Secured Creditors).‌

Acknowledgement by the Account Bank