Common use of CBC TRANSACTION ACCOUNTS Clause in Contracts

CBC TRANSACTION ACCOUNTS. 5.1 The Administrator hereby confirms to the CBC and to the Security Trustee that the CBC Account and the Reserve Account will be established and are operative as of the Programme Date and that mandates substantially in the Agreed Form will be delivered by the CBC (or the Administrator on behalf of the CBC) to the CBC Account Bank immediately after the execution of the CBC Account Agreement.

CBC TRANSACTION ACCOUNTS. 5.1 The Administrator hereby confirms to the CBC and to the Security Trustee that the CBC Account and the Reserve Account will be Transaction Accounts have been established and are operative as of the Programme Date and that mandates substantially in the Agreed Form will be have been delivered by the CBC (or the Administrator on behalf of the CBC) to the CBC Account Bank immediately after the before execution of the CBC Account this Agreement.