Common use of Change of Account Bank or GIC Provider Clause in Contracts

Change of Account Bank or GIC Provider. If there is any change in the identity of the Account Bank or the GIC Provider, the other parties to this Agreement shall execute such documents and take such actions as the new Account Bank and the outgoing Account Bank or new GIC Provider and the outgoing GIC Provider, as the case may be, and the Security Trustee may require for the purpose of vesting in the new Account Bank or the new GIC Provider, as the case may be, the rights and obligations of the outgoing Account Bank or the outgoing GIC Provider, as the case may be, and releasing the outgoing Account Bank or the outgoing GIC Provider, as the case may be, from its future obligations under this Agreement and the Guaranteed Investment Contract, as applicable.

Change of Account Bank or GIC Provider. If there is any change in the identity of the Account Bank or the GIC Provider, the other parties to this Agreement shall execute such documents and take such actions as the new Account Ac c ount Bank and the outgoing Account Bank or new GIC Provider and the outgoing GIC Provider, as the case may be, and the Security Trustee may require for the purpose of vesting in the new Account Bank or the new GIC Provider, as the case may be, the rights and obligations of the outgoing Account Bank or the outgoing GIC Provider, as the case may be, and releasing the outgoing Account Bank or the outgoing GIC Provider, as the case may be, from its future obligations under this Agreement and the Guaranteed Investment Contract, as applicable.