Effect of Termination or Resignation. (a) On and after termination or resignation of the appointment of the Cash Manager under this Agreement pursuant to this Clause 12, all authority and power of the Cash Manager under this Agreement and each other Transaction Document to which it is a party shall be terminated and be of no further effect and the Cash Manager shall not thereafter hold itself out in any way as the agent of the Mortgages Trustee, each Funding Beneficiary or each Funding Security Trustee pursuant to this Agreement and each other Transaction Document to which it is a party.
Appears in 3 contracts
Samples: Management Agreement (Granite Finance Trustees LTD), Management Agreement (Granite Finance Funding 2 LTD), Management Agreement (Granite Finance Funding 2 LTD)
Effect of Termination or Resignation. (a) On and after termination or resignation of the appointment of the Cash Manager under this Agreement pursuant to this Clause 12, all authority and power of the Cash Manager under this Agreement and each other Transaction Document to which it is a party shall be terminated and be of no further effect and the Cash Manager shall not thereafter hold itself out in any way as the agent of the Mortgages Trustee, each Funding Beneficiary or each Funding Security Trustee pursuant to this Agreement and each other Transaction Document to which it is a partyAgreement.
Appears in 1 contract
Samples: Management Agreement (Granite Finance Trustees LTD)
