Common use of Automatic Succession Clause in Contracts

Automatic Succession. Any company into which the Escrow Agent may be merged or with which it may consolidated, or any company to whom Escrow Agent may transfer a substantial amount of its global escrow business, shall be the successor to the Escrow Agent without the execution or filing of any paper or any further act on the part of any of the Parties, anything herein to the contrary notwithstanding; provided that the combined capital and surplus of such successor shall not be, immediately following such transaction, substantially less than the combined capital and surplus of the Escrow Agent immediately prior to such transaction.

Automatic Succession. Any company into which the Escrow Agent may be merged or with which it may be consolidated, or any company to whom Escrow Agent may transfer a substantial amount of its global escrow business, shall be the successor to the Escrow Agent without the execution or filing of any paper or any further act on the part of any of the Partiesparties, anything herein to the contrary notwithstanding; provided that the combined capital and surplus of such successor shall not be, immediately following such transaction, substantially less than the combined capital and surplus of the . Escrow Agent immediately prior to shall promptly notify the Depositors in writing of any such transactionmerger or consolidation.

Automatic Succession. Any company into which the Escrow Agent may be merged or with which it may be consolidated, or any company to whom Escrow Agent may transfer a substantial amount of its global escrow business, shall be the successor to the Escrow Agent without the execution or filing of any paper or any further act on the part of any of the PartiesDepositor, anything herein to the contrary notwithstanding; provided that the combined capital and surplus of such successor shall not be, immediately following such transaction, substantially less than the combined capital and surplus of the Escrow Agent immediately prior to such transaction.

Automatic Succession. Any company entity into which the Escrow Agent may be merged or with which it may be consolidated, or any company entity to whom the Escrow Agent may transfer a substantial amount of its global escrow business, shall be the successor to the Escrow Agent without the execution or filing of any paper or any further act on the part of any of the Partiesparties, anything herein to the contrary notwithstanding; provided that the combined capital and surplus of such successor shall not be, immediately following such transaction, substantially less than the combined capital and surplus of the Escrow Agent immediately prior to such transaction.

Automatic Succession. Any company into which the Escrow Agent may be merged or with which it may be consolidated, or any company to whom the Escrow Agent may transfer a substantial amount substantially all of its global escrow corporate trust business, shall be the successor to the Escrow Agent without the execution or filing of any paper or any further act on the part of any of the Partiesparties, anything herein to the contrary notwithstanding; provided that the combined capital and surplus of . Following such successor shall not besuccession, immediately following such transaction, substantially less than the combined capital and surplus of all references herein to the Escrow Agent immediately prior shall be references to such transactionsuccessor.