Common use of Opening of New Account Clause in Contracts

Opening of New Account. If the Security Agent or any other Finance Party ---------------------- receives or is deemed to be affected by actual or constructive notice, of any subsequent Encumbrance or other instrument affecting any part of the Security Assets and/or the proceeds of realisation thereof, the Security Agent and the other Finance Parties may open a new account for the Company. If the Security Agent or any other Finance Party does not open a new account it shall nevertheless be treated as if it had done so at the time when the Security Agent or, if earlier, such other Finance Party received or was deemed to have received notice, and as from that time all payments made to the Security Agent or such other Finance Party shall be credited or be treated as having been credited to the new account and shall not operate to reduce the amount for which this Deed is security.

Opening of New Account. If the Security Agent or any other Finance Party ---------------------- receives or is deemed to be affected by actual or constructive notice, of any subsequent Encumbrance or other instrument affecting any part of the Security Assets and/or the proceeds of realisation thereof, the Security Agent and the other Finance Parties may open a new account for the Companyan Obligor. If the Security Agent or any other Finance Party does not open a new account it shall nevertheless be treated as if it had done so at the time when the Security Agent or, if earlier, such other Finance Party received or was deemed to have received notice, and as from that time all payments made to the Security Agent or such other Finance Party shall be credited or be treated as having been credited to the new account and shall not operate to reduce the amount for which this Deed is security.

Opening of New Account. If the Security Agent or any other Finance ---------------------- Party ---------------------- receives or is deemed to be affected by actual or constructive notice, of any subsequent Encumbrance or other instrument affecting any part of the Security Charged Assets and/or the proceeds of realisation thereof, the Security Agent and the other Finance Parties may open a new account for the CompanyChargor. If the Security Agent or any other Finance Party does not open a new account it shall nevertheless be treated as if it had done so at the time when the Security Agent or, if earlier, such other Finance Party received or was deemed to have received notice, and as from that time all payments made to the Security Agent or such other Finance Party shall be credited or be treated as having been credited to the new account and shall not operate to reduce the amount for which this Deed is security.

Opening of New Account. If the Security Agent or any other Finance Party ---------------------- receives or is deemed to be affected by actual or constructive notice, of any subsequent Encumbrance or other instrument affecting any part of the Security Charged Assets and/or the proceeds of realisation thereof, the Security Agent and the other Finance Parties may open a new account for the CompanyChargor. If the Security Agent or any other Finance Party does not open a new account it shall nevertheless be treated as if it had done so at the time when the Security Agent or, if earlier, such other Finance Party received or was deemed to have received notice, and as from that time all payments made to the Security Agent or such other Finance Party shall be credited or be treated as having been credited to the new account and shall not operate to reduce the amount for which this Deed is security.