Common use of Change of Collateral Account Bank Clause in Contracts

Change of Collateral Account Bank. If there is any change in the identity of the Collateral Account Bank, the other parties to this Agreement shall execute such documents and take such actions as the successor collateral account bank and the outgoing Collateral Account Bank and the Security Trustee may require for the purpose of vesting in the successor collateral account bank the rights and obligations of the outgoing Collateral Account Bank and releasing the outgoing Collateral Account Bank from its future obligations under this Agreement.

Appears in 5 contracts

Samples: Collateral Account Bank Agreement, Collateral Account Bank Agreement, Collateral Account Bank Agreement

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