Common use of CHANGE OF SECURITY TRUSTEE Clause in Contracts

CHANGE OF SECURITY TRUSTEE. In the event that there is any change in the identity of the Security Trustee or an additional Security Trustee is appointed in accordance with the provisions of the Eighth Issuer Deed of Charge, the existing Security Trustee, the new Security Trustee or the retiring Security Trustee, as the case may be, the Eighth Issuer Cash Manager, the Eighth Issuer and the Eighth Issuer Account Bank shall execute such documents and take such actions as such of the new Security Trustee and the retiring Security Trustee or, as the case may be, the existing Security Trustee shall agree are reasonably necessary for the purpose of vesting in such new Security Trustee the rights, benefits and obligations of the Security Trustee under this Agreement and releasing the retiring Security Trustee from its future obligations hereunder.

Appears in 2 contracts

Samples: Account Agreement (Permanent Mortgages Trustee LTD), Permanent Financing (No. 8) PLC

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CHANGE OF SECURITY TRUSTEE. In the event that there is any change in the identity of the Security Trustee or an additional Security Trustee is appointed in accordance with the provisions of the Eighth Sixth Issuer Deed of Charge, the existing Security Trustee, the new Security Trustee or the retiring Security Trustee, as the case may be, the Eighth Sixth Issuer Cash Manager, the Eighth Sixth Issuer and the Eighth Sixth Issuer Account Bank shall execute such documents and take such actions as such of the new Security Trustee and the retiring Security Trustee or, as the case may be, the existing Security Trustee shall agree are reasonably necessary for the purpose of vesting in such new Security Trustee the rights, benefits and obligations of the Security Trustee under this Agreement and releasing the retiring Security Trustee from its future obligations hereunder.

Appears in 2 contracts

Samples: Account Agreement (Permanent Financing (No. 6) PLC), Account Agreement (Permanent Mortgages Trustee LTD)

CHANGE OF SECURITY TRUSTEE. In the event that there is any change in the identity of the Security Trustee or an additional Security Trustee is appointed in accordance with the provisions of the Eighth Seventh Issuer Deed of Charge, the existing Security Trustee, the new Security Trustee or the retiring Security Trustee, as the case may be, the Eighth Seventh Issuer Cash Manager, the Eighth Seventh Issuer and the Eighth Seventh Issuer Account Bank shall execute such documents and take such actions as such of the new Security Trustee and the retiring Security Trustee or, as the case may be, the existing Security Trustee shall agree are reasonably necessary for the purpose of vesting in such new Security Trustee the rights, benefits and obligations of the Security Trustee under this Agreement and releasing the retiring Security Trustee from its future obligations hereunder.

Appears in 2 contracts

Samples: Permanent Mortgages Trustee LTD, Permanent Mortgages Trustee LTD

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CHANGE OF SECURITY TRUSTEE. In the event that there is any change in the identity of the Security Trustee or an additional Security Trustee is appointed in accordance with the provisions of the Eighth Fifth Issuer Deed of Charge, the existing Security Trustee, the new Security Trustee or the retiring Security Trustee, as the case may be, the Eighth Fifth Issuer Cash Manager, the Eighth Fifth Issuer and the Eighth Fifth Issuer Account Bank shall execute such documents and take such actions as such of the new Security Trustee and the retiring Security Trustee or, as the case may be, the existing Security Trustee shall agree are reasonably necessary for the purpose of vesting in such new Security Trustee the rights, benefits and obligations of the Security Trustee under this Agreement and releasing the retiring Security Trustee from its future obligations hereunder.

Appears in 1 contract

Samples: Permanent Financing (No. 5) PLC

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