Common use of Vesting of Powers Clause in Contracts

Vesting of Powers. Upon any successor Paying Agent appointed hereunder executing, acknowledging and delivering to the Issuer and the Trustee an instrument accepting such appointment hereunder, it shall, without any further act, deed or conveyance, become vested with all authority, rights, powers, trusts, indemnities, duties and obligations of the Paying Agent hereunder.

Vesting of Powers. Upon any successor Paying Agent appointed hereunder executing, acknowledging and delivering to the Issuer and the Trustee an instrument accepting such appointment hereunder, it shall, without any further act, deed or conveyance, become vested with all authority, rights, powers, trusts, indemnities, duties and obligations of the Paying Agent hereunder.

Vesting of Powers. Upon any successor Paying Trustee or Agent appointed hereunder executing, acknowledging and delivering to the Issuer and and, in the Trustee case of a successor Agent, the Trustee, an instrument accepting such appointment hereunder, it shall, without any further act, deed or conveyance, become vested with all authority, rights, powers, trusts, indemnities, duties and obligations of the Paying Trustee or Agent hereunder, as applicable.