Common use of Change of Account Bank Clause in Contracts

Change of Account Bank. 18.1 Any legal entity (i) into which the Account Bank and/or the Cash Administrator may be merged or converted, (ii) with which the Account Bank and/or the Cash Administrator may be consolidated, (iii) to which the business of the Account Bank and/or the Cash Administrator is transferred, (iv) with which the Account Bank and/or the Cash Administrator agrees to transfer its respective rights and obligations hereunder, or (v) which results from any merger, conversion, consolidation or transfer to which the Account Bank and/or the Cash Administrator shall be a party shall, subject to the Conditions and to the extent permitted by applicable law, be the successor Account Bank or the Cash Administrator (as the case may be) under this Agreement without any further formality, and after such effective date all references in this Agreement to the Account Bank and/or the Cash Administrator shall be deemed to be references to such corporation and, by virtue of a transfer by novation, such successor shall acquire and become subject to the same rights and obligations under this Agreement as Account Bank or as Cash Administrator as if the successor had entered into this Agreement on the Signing Date. Notice of any such merger, conversion, consolidation or transfer shall forthwith be given by the Account Bank and/or the Cash Administrator to the Issuer and the Security Trustee.

Change of Account Bank. 18.1 17.1 Any legal entity (i) into which the Account Bank and/or the Cash Administrator may be merged or converted, (ii) with which the Account Bank and/or the Cash Administrator may be consolidated, (iii) to which the business of the Account Bank and/or the Cash Administrator is transferred, (iv) with which the Account Bank and/or the Cash Administrator agrees to transfer its respective rights and obligations hereunder, or (v) which results from any merger, conversion, consolidation or transfer to which the Account Bank and/or the Cash Administrator shall be a party shall, subject to the Conditions and to the extent permitted by applicable law, be the successor Account Bank or the Cash Administrator (as the case may be) under this Agreement without any further formality, and after such effective date all references in this Agreement to the Account Bank and/or the Cash Administrator shall be deemed to be references to such corporation and, by virtue of a transfer by novation, such successor shall acquire and become subject to the same rights and obligations under this Agreement as Account Bank or as Cash Administrator as if the successor had entered into this Agreement on or about the Signing Date. Notice of any such merger, conversion, consolidation or transfer shall forthwith be given by the Account Bank and/or the Cash Administrator to the Issuer and the Security Trustee.

Change of Account Bank. 18.1 17.1 Any legal entity (i) into which the Account Bank and/or the Cash Administrator may be merged or converted, (ii) with which the Account Bank and/or the Cash Administrator may be consolidated, (iii) to which the business of the Account Bank and/or the Cash Administrator is transferred, (iv) with which the Account Bank and/or the Cash Administrator agrees to transfer its respective rights and obligations hereunder, or (v) which results from any merger, conversion, consolidation or transfer to which the Account Bank and/or the Cash Administrator shall be a party shall, subject to the Conditions and to the extent permitted by applicable law, be the successor Account Bank or the Cash Administrator (as the case may be) under this Agreement without any further formality, and after such effective date all references in this Agreement to the Account Bank and/or the Cash Administrator shall be deemed to be references to such corporation and, by virtue of a transfer by novation, such successor shall acquire and become subject to the same rights and obligations under this Agreement as Account Bank or as Cash Administrator as if the successor had entered into this Agreement on the Signing Date. Notice of any such merger, conversion, consolidation or transfer shall forthwith be given by the Account Bank and/or the Cash Administrator to the Issuer and the Security Trustee.