GENERAL PROVISIONS REGARDING RCCAS Sample Clauses

GENERAL PROVISIONS REGARDING RCCAS. (a) Promptly upon the establishment (initially or upon any relocation) of an RCCA hereunder, the Collateral Agent shall advise the Seller, the Administrative Agent and Financial Security in writing of the name and address of the depository institution or trust company where the RCCA has been established (if not Bank One or any successor Collateral Agent in its commercial banking capacity), the name of the officer of the depository institution who is responsible for overseeing such RCCA, the account number and the individuals whose names appear on the signature cards for such RCCA. The Seller shall cause each such depository institution or trust company to execute a written agreement, in form and substance satisfactory to Financial Security, waiving, and the Collateral Agent by its execution of this Agreement hereby waives (except to the extent expressly provided herein), in each case to the extent permitted under applicable law, (i) any banker's or other statutory or similar Lien, and (ii) any right of set-off or other similar right under applicable law with respect to such RCCA and any other RCCA and agreeing, and the Collateral Agent by its execution of this Agreement hereby agrees, to notify the Seller, Financial Security and the Administrative Agent of any charge or claim against or with respect to such RCCA. The Collateral Agent shall give the Seller, the Administrative Agent and Financial Security at least ten Business Days' prior written notice of any change in the location of such RCCA or in any related account information. If the Collateral Agent changes the location of any RCCA held by it, it shall change the location of the other RCCAs, so that all RCCAs held by it shall at all times be located at the same depository institution. Anything herein to the contrary notwithstanding, unless otherwise consented to by Financial Security in writing, none of the Seller, the Administrative Agent or the Collateral Agent shall have any right to change the location of any RCCA.
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