Common use of Appointment of Depositary Bank Clause in Contracts

Appointment of Depositary Bank. (a) (i) As of the Effective Date, Bank of America, N.A., is hereby appointed to act as (A) a Depositary Bank for the Collateral Agent and as agent of the Collateral Agent with respect to the Accounts as set forth in Exhibit A and (B) Securities Intermediary with respect to the Accounts hereunder, with such powers as are expressly delegated to such Depositary Bank by the terms of this Agreement, together with such other powers as are reasonably incidental thereto and such Depositary Bank hereby accepts such appointment and (ii) after the Effective Date, each Approved Bank that becomes a party hereto is hereby appointed to act as (A) a Depositary Bank for the Collateral Agent and as agent of the Collateral Agent with respect to the Accounts set forth in Exhibit A and (B) Securities Intermediary with respect to the Accounts hereunder, with such powers as are expressly delegated to such Depositary Bank by the terms of this Agreement, together with such other powers as are reasonably incidental thereto and such Depositary Bank hereby accepts such appointment. (b) The Parties hereby acknowledge that each Depositary Bank shall act as Securities Intermediary with respect to the Accounts and pursuant to this Agreement. The Depositary Bank agrees to accept and hold, in its custody and in accordance with the terms of this Agreement, the Accounts and all funds, instruments, securities, financial assets, and other assets delivered to such Depositary Bank pursuant to the terms of this Agreement. (c) Any other provision hereof to the contrary notwithstanding, no Depositary Bank shall have any such duties or responsibilities except those expressly set forth in this Agreement, and no implied covenants, functions or responsibilities shall be read into this Agreement or otherwise exist against any Depositary Bank.

Appointment of Depositary Bank. (a) (i) As of the Effective Date, Bank of America, N.A., is hereby appointed to act as (A) a Depositary Bank Bank[ for the Collateral Agent and as agent of the Collateral Agent Agent] with respect to the Accounts as set forth in Exhibit A and (B) Securities Intermediary with respect to the Accounts hereunder, with such powers as are expressly delegated to such Depositary Bank by the terms of this Agreement, together with such other powers as are reasonably incidental thereto and such Depositary Bank hereby accepts such appointment and (ii) after the Effective Date, each Approved Bank that becomes a party hereto is hereby appointed to act as (A) a Depositary Bank for the Collateral Agent and as agent of the Collateral Agent with respect to the Accounts set forth in Exhibit A and (B) Securities Intermediary with respect to the Accounts hereunder, with such powers as are expressly delegated to such Depositary Bank by the terms of this Agreement, together with such other powers as are reasonably incidental thereto and such Depositary Bank hereby accepts such appointment. (b) The Parties hereby acknowledge that each Depositary Bank shall act as Securities Intermediary with respect to the Accounts and pursuant to this Agreement. The Depositary Bank agrees to accept and hold, in its custody and in accordance with the terms of this Agreement, the Accounts and all funds, instruments, securities, financial assets, and other assets delivered to such Depositary Bank pursuant to the terms of this Agreement. (c) Any other provision hereof to the contrary notwithstanding, no Depositary Bank shall have any such duties or responsibilities except those expressly set forth in this Agreement, and no implied covenants, functions or responsibilities shall be read into this Agreement or otherwise exist against any Depositary Bank.