Common use of CERTIFICATION, INDEMNITY AND ACCELERATION NOTICE Clause in Contracts

CERTIFICATION, INDEMNITY AND ACCELERATION NOTICE. 7.1 EIGHTH ISSUER ACCOUNT BANK TO COMPLY WITH EIGHTH ISSUER CASH MANAGER'S INSTRUCTIONS Unless otherwise directed in writing by the Security Trustee pursuant to CLAUSE 7.3, in making any transfer or payment from the Eighth Issuer Accounts in accordance with this Agreement, the Eighth Issuer Account Bank shall be entitled to act as directed by the Eighth Issuer Cash Manager pursuant to CLAUSES 2.1 and 4.1 or pursuant to CLAUSE 3.1, as the case may be, and to rely as to the amount of any such transfer or payment on the Eighth Issuer Cash Manager's instructions in accordance with the relevant Eighth Issuer Account Mandate, and the Eighth Issuer Account Bank shall have no liability to the Eighth Issuer Cash Manager, the Eighth Issuer or the Security Trustee for having acted on such instructions except in the case of its wilful default, fraud or negligence.

Appears in 2 contracts

Samples: Eighth Issuer Bank Account Agreement (Permanent Financing (No. 8) PLC), Eighth Issuer Bank Account Agreement (Permanent Mortgages Trustee LTD)

AutoNDA by SimpleDocs

CERTIFICATION, INDEMNITY AND ACCELERATION NOTICE. 7.1 EIGHTH SIXTH ISSUER ACCOUNT BANK TO COMPLY WITH EIGHTH SIXTH ISSUER CASH MANAGER'S INSTRUCTIONS Unless otherwise directed in writing by the Security Trustee pursuant to CLAUSE 7.3, in making any transfer or payment from the Eighth Sixth Issuer Accounts in accordance with this Agreement, the Eighth Sixth Issuer Account Bank shall be entitled to act as directed by the Eighth Sixth Issuer Cash Manager pursuant to CLAUSES 2.1 and 4.1 or pursuant to CLAUSE 3.1CLAUSES 3.1 and 4.2, as the case may be, and to rely as to the amount of any such transfer or payment on the Eighth Sixth Issuer Cash Manager's instructions in accordance with the relevant Eighth Sixth Issuer Account Mandate, and the Eighth Sixth Issuer Account Bank shall have no liability to the Eighth Sixth Issuer Cash Manager, the Eighth Sixth Issuer or the Security Trustee for having acted on such instructions except in the case of its wilful default, fraud or negligence.

Appears in 1 contract

Samples: Bank Account Agreement (Permanent Mortgages Trustee LTD)

AutoNDA by SimpleDocs

CERTIFICATION, INDEMNITY AND ACCELERATION NOTICE. 7.1 EIGHTH SEVENTH ISSUER ACCOUNT BANK TO COMPLY WITH EIGHTH SEVENTH ISSUER CASH MANAGER'S INSTRUCTIONS Unless otherwise directed in writing by the Security Trustee pursuant to CLAUSE 7.3, in making any transfer or payment from the Eighth Seventh Issuer Accounts in accordance with this Agreement, the Eighth Seventh Issuer Account Bank shall be entitled to act as directed by the Eighth Seventh Issuer Cash Manager pursuant to CLAUSES 2.1 and 4.1 or pursuant to CLAUSE 3.1CLAUSES 3.1 and 4.2, as the case may be, and to rely as to the amount of any such transfer or payment on the Eighth Seventh Issuer Cash Manager's instructions in accordance with the relevant Eighth Seventh Issuer Account Mandate, and the Eighth Seventh Issuer Account Bank shall have no liability to the Eighth Seventh Issuer Cash Manager, the Eighth Seventh Issuer or the Security Trustee for having acted on such instructions except in the case of its wilful default, fraud or negligence.

Appears in 1 contract

Samples: Seventh Issuer Bank Account Agreement (Permanent Mortgages Trustee LTD)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!