Common use of Change of Account Bank Clause in Contracts

Change of Account Bank. Any Account Bank may be changed to another bank in the Territory and additional banks in the Territory may be appointed as Account Banks if the Chargor and the Collateral Agent so agree.

Change of Account Bank. (a) Any Account Bank may be changed to another bank in the Territory and additional banks in the Territory may be appointed as Account Banks if the Chargor and the Collateral Agent so agree.

Change of Account Bank. (a) Any Account Bank may be changed to another bank in the Territory and additional banks in the Territory may be appointed as Account Banks if the Chargor and the Collateral Agent so agree. (b) Without prejudice to Clause 5.2(a), the Chargor may only open an account with a new Account Bank after the proposed new Account Bank agrees with the Collateral Agent and the Chargor, in a manner satisfactory to the Collateral Agent, to fulfil the role of the Account Bank under this Deed.