Change of Custodian. To reflect the change in the custodian, the Deposit Agreement is hereby amended as of the Effective Date by:
Change of Custodian. If the custodian changes its name, reorganizes, merges with another organization (or comes under the control of any federal or state agency), or if the custodian (or any portion of the organization which includes this XXX) is bought by another organization, that organization (or agency) shall automatically become the trustee or custodian of this XXX, but only if it is the type of organization authorized to serve as an XXX trustee or custodian. A successor custodian will have all of the same duties and rights granted to the original custodian under this agreement. A successor custodian will not be liable for any act or omission of a predecessor custodian. If the custodian is required to comply with Regulations section 1.408-2(e), and fails to do so, or the custodian is not keeping the records, making the returns or sending the statements as are required by forms or Regulations, the IRS may, after notifying the depositor, require the depositor to substitute another trustee or custodian.
Change of Custodian. In the event the Custodian notifies the Company and the Representative that its acceptance of the duties of Custodian has been terminated by the Custodian, or in the event the Custodian files for protection under the United States Bankruptcy Code or is liquidated or ceases operations for any reason, the Company and the Representative shall have the right to jointly designate a replacement Custodian who shall succeed to the rights and duties of the Custodian hereunder. Any such replacement Custodian shall be a trust or stock transfer company experienced in stock transfer, escrow and related matters and shall have a minimum net worth of $5 million. Upon appointment of such successor Custodian, the Custodian shall be discharged from all duties and responsibilities hereunder.
Change of Custodian. No change in Custodian may occur without the express written consent of the Pledgee and the Pledgor. The Custodian may resign by giving thirty (30) days' notice to the parties to this Agreement. The Pledgee may then appoint a successor Custodian with the prior written consent of the Pledgor, which shall not be unreasonably withheld or delayed, whereupon the successor Custodian shall succeed to the rights, powers and duties of the Custodian.
Change of Custodian. (a) No Custodian may be changed to another person except with the prior written consent of, or as required by, the Security Agent (acting on the instruction of the Majority Lenders) and in accordance with this Deed.
Change of Custodian. If the custodian is merged with another custodian (or comes under the control of any Federal or State agency) or if the entire organization (or any portion which includes the Xxxxxxxxx ESA) is bought by another organization, that organization (or agency) shall automatically become the trustee or custodian of the Xxxxxxxxx ESA, but only if it is the type of organization authorized to serve as a Xxxxxxxxx ESA trustee or custodian. A successor custodian will have all of the same duties and rights granted to the original custodian under this agreement. A successor custodian will not be liable for any act or omission of a predecessor custodian. If the custodian is required to comply with Section 1.408-2(e) of the Treasury Regulations and fails to do so, or the custodian is not keeping the records, making the returns or sending the statements as are required by forms or regulations, the IRS may, after notifying the responsible individual or the designated beneficiary, require that a substitute trustee or custodian be appointed. CREDIT UNION XXXXXXXXX ESA CUSTODIAL AGREEMENT (Continued)
Change of Custodian. There will be no change of the Custodian for Borrower unless any such successor custodian is a bank or trust company organized under the laws of the United States or a political subdivision thereof having assets of at least $10,000,000,000 and a long-term debt or deposit rating of at least "A" from Fitch or "A2" from Moody's and, (x) after giving effect to such change, no Default or Event of Default shall have occurred and be continuing and (y) the Lender shall have received an opinion of counsel to the effect that after such change, the Collateral Agent shall continue to have a first priority perfected security interest in the Collateral.
Change of Custodian. (a) The Custodian may only be changed to another bank or financial institution with the prior written consent of the Security Agent (acting on the instructions of all Lenders) and must be changed if the Security Agent (acting on the instructions of all Lenders) so requires. (b) A change only becomes effective when the proposed new Custodian agrees with the Security Agent and the Chargor (in a manner satisfactory to the Security Agent) to fulfil the role of the Custodian under this Deed and enters into a custodian agreement with the Security Agent and the Chargor in form and substance satisfactory to the Security Agent.
Change of Custodian. 11 SECTION 18. No Waiver; Cumulative Remedies................................................12 SECTION 19. Termination...................................................................12 SECTION 20. Notices.......................................................................12 SECTION 21. Further Assurances; etc.......................................................12 SECTION 22. Assignment....................................................................13 SECTION 23. Amendments....................................................................13
Change of Custodian. In the event the Custodian notifies the Company and the Representative that its acceptance of the duties of Custodian has been terminated by the Custodian, or in the event the Custodian files for protection under the United States Bankruptcy Code or is liquidated or ceases operations for any reason, the Company and the Representative shall have the right to jointly designate a replacement Custodian who shall succeed to the rights and duties of the Custodian hereunder. Any such replacement Custodian shall be a trust or stock transfer company experienced in stock transfer, escrow and related
