Common use of Appointment of the Account Bank Clause in Contracts

Appointment of the Account Bank. The Issuer appoints The Bank of New York Mellon, London Branch as account bank in respect of the Accounts and to perform the services set out in this Agreement. The Bank of New York Mellon, London Branch hereby accepts such appointment by the Issuer in accordance with the terms and conditions of this Agreement. The Account Bank shall administer, credit and debit each of the Distribution Account, the Cash Collateral Account, the Counterparty Downgrade Collateral Account and the Accumulation Account and separately in accordance with the terms and provisions hereunder.