Common use of CHANGE OF FUNDING SECURITY TRUSTEE Clause in Contracts

CHANGE OF FUNDING SECURITY TRUSTEE. In the event that there is any change in the identity of any Funding Security Trustee, or an additional Funding Security Trustee is appointed in accordance with the Funding 1 Deed of Charge and/or the relevant Further Funding Company Deed of Charge, the Cash Manager shall execute such documents with any other parties to this Agreement and take such actions as such new Funding Security Trustee may reasonably require for the purposes of vesting in such new Funding Security Trustee the rights of the Funding Security Trustee under this Agreement and under the Funding 1 Deed of Charge or the relevant Further Funding Company Deed of Charge and releasing the retiring Funding Security Trustee from further obligations thereunder and while any of the Rated Notes remain outstanding shall give notice thereof to the Rating Agencies.

CHANGE OF FUNDING SECURITY TRUSTEE. In the event that there is any change in the identity of any Funding Security Trustee, Trustee or an additional Funding Security Trustee is appointed in accordance with the Funding 1 Deed of Charge and/or the relevant Further Funding Company Deed of Charge, Charge the Cash Manager shall execute such documents with any other parties to this Agreement and take such actions as such new Funding Security Trustee may reasonably require for the purposes of vesting in such new Funding Security Trustee the rights of the Funding Security Trustee under this Agreement and under the Funding 1 Deed of Charge or the relevant Further Funding Company Deed of Charge and releasing the retiring Funding Security Trustee from further obligations thereunder and while any of the Rated Notes remain remains outstanding shall give notice thereof to the Rating Agencies.