Common use of Vesting of Rights Clause in Contracts

Vesting of Rights. If there is any change in the identity of the security trustee in accordance with the Funding Deed of Charge, the Administrator, the Seller, Funding and the Mortgages Trustee shall execute such documents and take such action as the successor security trustee and the outgoing security trustee may reasonably require for the purpose of vesting in the successor security trustee the rights and obligations of the outgoing security trustee under this Agreement and releasing the outgoing security trustee from its future obligations under this Agreement.