Change of Bank Accounts. An Account must at any time be moved to another bank approved by the Security Agent if the Security Agent or the Lenders so requests by giving twenty (20) Business Days notice to the relevant Obligor.
(a) A change of Account only becomes effective when the proposed new bank agrees with the Security Agent and the relevant Obligor, in a manner satisfactory to the Security Agent, to fulfil the role of the bank holding that Account.
Change of Bank Accounts. (a) Each Account shall be held at a branch of the bank holding that Account as the Facility Agent and the Company (acting on behalf of the relevant member of the Group) may agree from time to time (acting reasonably).
(b) If a member of the Group requests and the Facility Agent so consents (acting reasonably) the bank holding that Account shall (as soon as reasonably practicable) be changed to another bank that agrees to its appointment.
(c) A change of Account only becomes effective when the proposed new bank agrees with the Facility Agent and the relevant Obligor, in a manner satisfactory to the Facility Agent, to fulfil the role of the bank holding that Account.
Change of Bank Accounts. (a) If the Security Agent so requests and the Company consents (such consent not to be unreasonably withheld or delayed) , the Debt Service Reserve Account may be moved to another bank.
(b) A change of the Debt Service Reserve Account only becomes effective upon the proposed new bank agreeing with the Security Agent and the Company, in a manner satisfactory to the Security Agent, to fulfil the role of the bank holding that account.
Change of Bank Accounts. 11.14.1 If the Agent so requires or the Borrower so requests (and the Agent consents), an Account shall be moved to another bank, subject to such bank meeting the Account Bank Minimum Rating Requirements.
11.14.2 The short term debt instruments in issue by each Account Bank must have a rating of A-1+ (or better) by S&P, F1+ (or better) by Fitch and P-1 (or better) by Xxxxx'x. If the short term debt instruments in issue by an Account Bank cease to have such a rating, the Agent may require that the relevant Account(s) be moved to another bank of its choice that satisfies such requirement as soon as possible and in any event within 20 Business Days of the Borrower becoming aware of the downgrade of the required rating.
11.14.3 The Borrower shall do all such things as the Agent requests to facilitate any such change of Account(s) and the Borrower shall create Security in favour of the Security Trustee and the other Finance Parties over the balance standing to the credit of such Account(s) in form and substance satisfactory to the Security Trustee.
11.14.4 In addition to the other provisions of this Clause 11.14, a change of Account shall only become effective upon the proposed new bank agreeing with the Agent and the Borrower, in a manner satisfactory to the Agent to fulfil the role of the Account Bank as set out in this Clause 11.
Change of Bank Accounts. (1) If the Agent so reasonably requests at any time, the Rent Account shall be moved to another bank.
(2) A change shall only become effective upon the proposed new bank agreeing with each of the Agent and the Borrower, in a manner satisfactory to the Agent, to fulfil the role of the bank holding the relevant account(s).
Change of Bank Accounts. (a) The Company must promptly notify the Facility Agent upon becoming aware that a bank at which an Account is held does not have a Requisite Rating.
(b) If a bank at which an Account is held does not have a Requisite Rating, the Facility Agent may request in writing that any Account held with such bank is transferred to a new bank that meets the Requisite Rating. Following such request, the Company shall use reasonable efforts to transfer that Account within 30 Business Days, to another bank which does have a Requisite Rating and which can pay interest without withholding or deduction for or on account of Taxes.
(c) The Company may, with the prior written consent of the Facility Agent, move any Account to another bank of its choice provided that the Facility Agent’s consent may not be unreasonably withheld or delayed if:
(i) the proposed new bank is an Approved Bank; and
(ii) the accounts are charged to the Security Agent pursuant to the terms of the Security Documents.
(d) A change of Account only becomes effective when the proposed new bank agrees with the Facility Agent and the Company in a manner reasonably satisfactory to the Facility Agent, to fulfil the role of the bank holding that Account.
Change of Bank Accounts. (a) The Company must promptly notify the Facility Agent upon becoming aware that a bank at which an Account is held does not have a Requisite Rating.
(b) If a bank at which an Account is held does not have a Requisite Rating, the Facility Agent will require that that Account be moved, within 30 Business Days, to another bank of its choice which does have a Requisite Rating and which company interest without withholding or deduction for or on account of Taxes.
(c) The Company may, with the prior written consent of the Facility Agent, move any Account to another bank of its choice provided that the Facility Agent’s consent may not be unreasonably withheld or delayed if:
(i) the proposed new bank is an Approved Bank; and
(ii) the accounts are charged to the Facility Agent pursuant to the terms of the Security Documents.
(d) A change of Account only becomes effective when the proposed new bank agrees with the Facility Agent and the Company in a manner reasonably satisfactory to the Facility Agent, to fulfil the role of the bank holding that Account.
Change of Bank Accounts. Should the Department elect to change bank accounts, the Service Provider shall not charge the Department for the cost of the change or any unused draft bank stock.
Change of Bank Accounts. The Promisors have, upon request of the Transferee, filed applications with the relevant bank and completed the change from the specimen signatures and seals of all bank accounts of the Target Company to the specimen signatures and seals of the Transferee’s designated person.
Change of Bank Accounts. (a) The Company must promptly notify the Facility Agent upon becoming aware that a bank at which an Account is held does not have a Requisite Rating.
(b) If a bank at which an Account is held does not have the Requisite Rating, the Facility Agent shall, within 20 Business Days of such downgrade event, request as soon as reasonably practicable in writing that any Account held with such bank is transferred to a new bank that meets the Requisite Rating and, the Company shall use reasonable efforts to transfer that Account within 60 days of such downgrade event to another bank which does have the Requisite Rating and which can pay interest without withholding or deduction for or on account of Taxes. 58 LEGAL_EU # 10964296.8
(c) The Company may, with the prior written consent of the Facility Agent, move any Account to another bank of its choice provided that the Facility Agent's consent may not be unreasonably withheld or delayed if:
(i) the proposed new bank is an Approved Bank; and
(ii) the accounts are charged to the Security Agent pursuant to the terms of the Security Documents.
(d) A change of Account only becomes effective when the proposed new bank agrees with the Facility Agent and the Company in a manner reasonably satisfactory to the Facility Agent, to fulfil the role of the bank holding that Account.
