Common use of Amendment or Revocation Clause in Contracts

Amendment or Revocation. Each of the Account Bank and the GIC Provider agrees that it shall notify the Security Trustee as soon as is reasonably practicable and in accordance with Clause 13 (Notices) if it receives any amendment to or revocation of any Account Mandate relating to the Bank Accounts (other than a change of Authorised Signatory) and shall require the prior written consent of the Security Trustee to any such amendment or revocation (other than a change of Authorised Signatory) but, unless such Account Mandate is revoked, the Account Bank or the GIC Provider, as the case may be, may continue to comply with such Account Mandate (as it may from time to time be amended in accordance with the provisions of this Clause 5.3) unless it receives notice in writing (a) from the Issuer or, as the case may be, the Security Trustee to the effect that the appointment of YBS as Cash Manager under the Cash Management Agreement has been terminated or (b) from the Security Trustee to the extent that a Note Acceleration Notice has been served and shall, thereafter, act solely on the instructions of the Security Trustee and in accordance with the terms of those instructions as provided in Clause 7.5 (Consequences of a Note Acceleration Notice) of this Agreement. The Cash Manager shall, prior to seeking any amendments to the Transaction Account Mandate and/or the GIC Account Mandate which would require the consent of the Security Trustee in accordance with this Clause 5.3, confirm to the Account Bank or the GIC Provider as applicable, whether the consent of the Security Trustee has been obtained.

Appears in 5 contracts

Samples: Account Agreement, Account Agreement, www.ybs.co.uk

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Amendment or Revocation. Each of the The Standby Account Bank and the GIC Provider agrees that it shall notify the Security Bond Trustee as soon as is reasonably practicable and in accordance with Clause 13 (Notices) Section 12 if it receives any amendment to or revocation of any the Standby GIC Mandate or the Standby Transaction Account Mandate relating to the Bank Guarantor LP Accounts (other than a change of Authorised Authorized Signatory, which may be made from time to time by the Guarantor LP (or the Cash Manager on its behalf)) and shall require the prior written consent of the Security Bond Trustee to any such amendment or revocation (other than a change of Authorised Authorized Signatory, which may be made from time to time by the Guarantor LP (or the Cash Manager on its behalf)) but, unless such Account Mandate is revoked, the Standby Account Bank or the GIC Provider, as the case may be, may continue to comply with such Account Mandate (as it may from time to time be amended in accordance with the provisions of this Clause 5.3Section 3.2) unless it receives notice in writing (a) from the Issuer or, as the case may be, the Security Bond Trustee to the effect that the appointment of YBS as Cash Manager under the Cash Management Agreement has been terminated or (b) from the Security Trustee to the extent that a Note Guarantor LP Acceleration Notice has been served on the Guarantor LP and shall, thereafter, act solely on the instructions of the Security Bond Trustee or such person as the Bond Trustee may designate and in accordance with the terms of those instructions as provided in Clause 7.5 (Consequences of a Note Acceleration Notice) Section 5.3 of this Agreement. The Cash Manager shall, prior to seeking any amendments to the Transaction Account Mandate and/or the GIC Account Mandate which would require the consent of the Security Trustee in accordance with this Clause 5.3, confirm to the Account Bank or the GIC Provider as applicable, whether the consent of the Security Trustee has been obtained.

Appears in 3 contracts

Samples: Account Agreement (RBC Covered Bond Guarantor Limited Partnership), Account Agreement, Account Agreement (RBC Covered Bond Guarantor Limited Partnership)

Amendment or Revocation. Each of the The Collateral Account Bank and the GIC Provider agrees that it shall notify the Security Trustee as soon as is reasonably practicable and in accordance with Clause 13 15 (Notices) if it receives any amendment to or revocation of any Collateral Account Mandate relating to the Bank Accounts any Collateral Account (other than a change of Authorised Signatory) and shall require the prior written consent of the Security Trustee to any such amendment or revocation (other than a change of Authorised Signatory) but, unless shall require the prior written consent of the Security Trustee. Unless such Collateral Account Mandate is revoked, the Collateral Account Bank or the GIC Provider, as the case may be, may continue to comply with such Collateral Account Mandate (as it may from time to time be amended in accordance with the provisions of this Clause 5.35.2) unless it receives notice in writing (ai) from the Issuer or, as the case may be, the Security Trustee to the effect that the appointment of YBS Yorkshire Building Society as Cash Manager under the Cash Management Agreement has been terminated or (bii) from the Security Trustee to the extent that a Note Acceleration Notice has been served and that it shall, thereafter, act solely on the instructions of the Security Trustee and in accordance with the terms of those instructions as provided in Clause 7.5 7.4 (Consequences of a Note Acceleration Notice) of this Agreement). The Cash Manager shall, prior to seeking any amendments to the Transaction Account Mandate and/or the GIC any Collateral Account Mandate which would require the consent of the Security Trustee in accordance with this Clause 5.35.2, confirm to the Collateral Account Bank or the GIC Provider as applicable, whether the consent of the Security Trustee has been obtained.

Appears in 2 contracts

Samples: Agreement, Collateral Account Bank Agreement

Amendment or Revocation. Each of the The Account Bank and the GIC Provider agrees that it shall notify the Funding 1 Security Trustee and/or the Funding 2 Security Trustee (as applicable) as soon as is reasonably practicable and in accordance with Clause 13 (Notices) 12 if it receives any amendment to or revocation of any Account Mandate relating to the Bank Accounts (other than a change of Authorised Signatory) and shall require the prior written consent of the Funding 1 Security Trustee and/or the Funding 2 Security Trustee (as applicable) to any such amendment or revocation (other than a change of Authorised Signatory) but, unless such Account Mandate is revoked, the Account Bank or the GIC Provider, as the case may be, may continue to comply with such Account Mandate (as it may from time to time be amended in accordance with the provisions of this Clause 5.34.2) unless it receives notice in writing (a) from the Issuer or, as the case may be, the Funding 1 Security Trustee and/or the Funding 2 Security Trustee (as applicable) to the effect that an Intercompany Loan Acceleration Notice or a Master Intercompany Loan Acceleration Notice has been served or that the appointment of YBS Bank of Scotland as Cash Manager under the Cash Management Agreement has been terminated or (b) from the Security Trustee to the extent that a Note Acceleration Notice has been served and shall, thereafter, act solely on the instructions of the Funding 1 Security Trustee and/or the Funding 2 Security Trustee (as applicable) and in accordance with the terms of those instructions thereof as provided in Clause 7.5 (Consequences of a Note Acceleration Notice) 6.5 of this Agreement. The Cash Manager shall, prior to seeking any amendments to the Transaction Account Mandate and/or the GIC Account Mandate which would require the consent of the Security Trustee in accordance with this Clause 5.3, confirm to the Account Bank or the GIC Provider as applicable, whether the consent of the Security Trustee has been obtained.

Appears in 2 contracts

Samples: Account Agreement, Account Agreement (Permanent Funding (No. 2) LTD)

Amendment or Revocation. Each of the The Account Bank and the GIC Provider agrees that it shall notify the Security Trustee as soon as is reasonably practicable and in accordance with Clause 13 15 (Notices) if it receives any amendment to or revocation of any Account Mandate relating to the Bank Issuer Accounts (held with the Account Bank) (other than a change of Authorised Signatory) ), and shall require the prior written consent of the Security Trustee to any such amendment or revocation (other than a change of Authorised Signatory) but, unless shall require the prior written consent of the Security Trustee. Unless such Account Mandate is revoked, the Account Bank or the GIC Provider, as the case may be, may continue to comply with such Account Mandate (as it may from time to time be amended in accordance with the provisions of this Clause 5.35.2) unless it the Account Bank receives notice in writing (ai) from the Issuer or, as the case may be, the Security Trustee to the effect that the appointment of YBS a replacement cash manager as Cash Manager under the Cash Management Agreement has been terminated occurred or (bii) from the Security Trustee to the extent effect that a Note Acceleration Notice has been served and that it shall, thereafter, act solely on the instructions of the Security Trustee and in accordance with the terms of those instructions as provided in Clause 7.5 7.4 (Consequences of a Note Acceleration Notice) of this Agreement). The Cash Manager shall, prior to seeking any amendments to the Transaction any Account Mandate and/or the GIC Account Mandate Mandate, which would require the consent of the Security Trustee in accordance with this Clause 5.35.2, confirm to the Account Bank or the GIC Provider as applicable, whether the consent of the Security Trustee has been obtained.

Appears in 1 contract

Samples: Bank Account Agreement

Amendment or Revocation. Each of the Account Bank and the GIC Provider agrees that it shall notify the Security Trustee as soon as is reasonably practicable and in accordance with Clause 13 (Notices) if it receives any amendment to or revocation of any Account Mandate relating to the Bank Accounts (other than a change of Authorised Signatory) and shall require the prior written consent of the Security Trustee to any such amendment or revocation (other than a change of Authorised Signatory) but, unless such Account Mandate is revoked, the Account Bank or the GIC Provider, as the case may be, may continue to comply with such Account Mandate (as it may from time to time be amended in accordance with the provisions of this Clause 5.3) unless it receives notice in writing (( a) from the Issuer or, as the case may be, the Security Trustee to the effect that the appointment of YBS as Cash Manager under the Cash Management Agreement has been terminated or (b) from the Security Trustee to the extent that a Note Acceleration Notice has been served and shall, thereafter, act solely on the instructions of the Security Trustee and in accordance with the terms of those instructions as provided in Clause 7.5 (Consequences of a Note Acceleration Notice) of this Agreement. The Cash Manager shall, prior to seeking any amendments to the Transaction Account Mandate and/or the GIC Account Mandate which would require the consent of the Security Trustee in accordance with w ith this Clause 5.3, confirm to the Account Bank or the GIC Provider as applicable, whether the consent of the Security Trustee has been obtained.

Appears in 1 contract

Samples: Bank Account Agreement

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Amendment or Revocation. Each of the The Funding 1 Account Bank and the GIC Provider agrees that it shall notify the Funding 1 Security Trustee as soon as is reasonably practicable and in accordance with Clause 13 12 (Notices) if it receives any amendment to or revocation of any Account Mandate relating to the Funding 1 Bank Accounts (other than a change of Authorised Signatory) and shall require the prior written consent of the Funding 1 Security Trustee to any such amendment or revocation (other than a change of Authorised Signatory) but, unless such Account Mandate is revoked, the Funding 1 Account Bank or the GIC Provider, as the case may be, may continue to comply with such Account Mandate (as it may from time to time be amended in accordance with the provisions of this Clause 5.34.2) unless unless: (i) it receives notice in writing (a) from the Issuer or, as the case may be, the Funding 1 Security Trustee to the effect that an Intercompany Loan Acceleration Notice has been served, as provided in Clause 6.3 (Consequences of an Intercompany Loan Acceleration Notice), or (ii) the appointment of YBS Santander UK as Cash Manager under the Cash Management Agreement has been terminated or (b) from the Security Trustee to the extent that a Note Acceleration Notice and no replacement cash manager has been served appointed and shall, if requested by the Funding 1 Security Trustee, thereafter, act solely on the instructions of the Funding 1 Security Trustee and in accordance with the terms of those instructions thereof as provided in Clause 7.5 6.3 (Consequences of a Note an Intercompany Loan Acceleration Notice) of this Agreement. The Cash Manager shall, prior to seeking any amendments to the Transaction Account Mandate and/or the GIC Account Mandate which would require the consent of the Security Trustee in accordance with this Clause 5.3, confirm to the Account Bank or the GIC Provider as applicable, whether the consent of the Security Trustee has been obtained.

Appears in 1 contract

Samples: Account Agreement

Amendment or Revocation. Each of the The Collateral Account Bank and the GIC Provider agrees that it shall notify the Security Trustee as soon as is reasonably practicable and in accordance with Clause 13 15 (Notices) if it receives any amendment to or revocation of any Collateral Account Mandate relating to the Bank Accounts Collateral Account (other than a change of Authorised Signatory) and shall require the prior written consent of the Security Trustee to any such amendment or revocation (other than a change of Authorised Signatory) but, unless shall require the prior written consent of the Security Trustee. Unless such Collateral Account Mandate is revoked, the Collateral Account Bank or the GIC Provider, as the case may be, may continue to comply with such Collateral Account Mandate (as it may from time to time be amended in accordance with the provisions of this Clause 5.35.2) unless it receives notice in writing (ai) from the Issuer or, as the case may be, the Security Trustee to the effect that the appointment of YBS Yorkshire Building Society as Cash Manager under the Cash Management Agreement has been terminated or (bii) from the Security Trustee to the extent that a Note Acceleration Notice has been served and that it shall, thereafter, act solely on the instructions of the Security Trustee and in accordance with the terms of those instructions as provided in Clause 7.5 7.4 (Consequences of a Note Acceleration Notice) of this Agreement). The Cash Manager shall, prior to seeking any amendments to the Transaction Account Mandate and/or the GIC any Collateral Account Mandate which would require the consent of the Security Trustee in accordance with this Clause 5.35.2, confirm to the Collateral Account Bank or the GIC Provider as applicable, whether the consent of the Security Trustee has been obtained.

Appears in 1 contract

Samples: Agreement

Amendment or Revocation. Each of the Account Bank and the GIC Provider agrees that it shall notify the Security Trustee as soon as is reasonably practicable and in accordance with Clause 13 (Notices) if it receives any amendment to or revocation of any Account Mandate relating to the Bank Accounts (excluding the Reserve Account) (other than a change of Authorised Signatory) and shall require the prior written consent of the Security Trustee to any such amendment or revocation (other than a change of Authorised Signatory) but, unless such Account Mandate is revoked, the Account Bank or the GIC Provider, as the case may be, may continue to comply with such Account Mandate (as it may from time to time be amended in accordance with the provisions of this Clause 5.3) unless it receives notice in writing (ai) from the Issuer or, as the case may be, the Security Trustee to the effect that the appointment of YBS as Cash Manager under the Cash Management Agreement has been terminated or (bii) from the Security Trustee to the extent that a Note Acceleration Notice has been served and shall, thereafter, act solely on the instructions of the Security Trustee and in accordance with the terms of those instructions as provided in Clause 7.5 (Consequences of a Note Acceleration Notice) of this Agreement. The Cash Manager shall, prior to seeking any amendments to the Transaction Account Mandate and/or the GIC Account Mandate which would require the consent of the Security Trustee in accordance with this Clause 5.3, confirm to the Account Bank or the GIC Provider as applicable, whether the consent of the Security Trustee has been obtained.

Appears in 1 contract

Samples: Account Agreement

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