Amendment or Revocation. Each of the Standby Account Bank and Standby GIC Provider agrees that it shall notify the Bond Trustee as soon as is reasonably practicable and in accordance with Article 12 if it receives any amendment to or revocation of the Standby GIC Mandate or the Standby Transaction Account Mandate relating to the Guarantor Accounts (other than a change of authorized signatory, which may be made from time to time by the Guarantor (or the Cash Manager on its behalf)) and shall require the prior written consent of the Bond Trustee to any such amendment or revocation (other than a change of authorized signatory, which may be made from time to time by the Guarantor (or the Cash Manager on its behalf)) but, unless such Mandate is revoked, the Standby Account Bank and Standby GIC Provider may continue to comply with the relevant Mandate (as it may from time to time be amended in accordance with the provisions of this Section 3.2) unless it receives notice in writing from the Bond Trustee to the effect that a Guarantor Acceleration Notice has been served on the Guarantor and shall, thereafter, act solely on the instructions of the Bond Trustee or such person as the Bond Trustee may designate and in accordance with the terms of those instructions as provided in Section 5.3 of this Agreement.
Appears in 2 contracts
Sources: Standby Bank Account Agreement, Standby Bank Account Agreement
Amendment or Revocation. Each of the Standby The Stand-By Account Bank and Standby GIC Provider agrees that it shall notify the Bond Trustee as soon as is reasonably practicable and in accordance with Article Section 12 if it receives any amendment to or revocation of the Standby GIC Stand-By GDA Mandate or the Standby Stand-By Transaction Account Mandate relating to the Guarantor Accounts (other than a change of authorized signatoryAuthorized Signatory, which may be made from time to time by the Guarantor (or the Cash Manager on its behalf)) and shall require the prior written consent of the Bond Trustee to any such amendment or revocation (other than a change of authorized signatoryAuthorized Signatory, which may be made from time to time by the Guarantor (or the Cash Manager on its behalf)) but, unless such Mandate is revoked, the Standby Stand-By Account Bank and Standby GIC Provider may continue to comply with the relevant such Mandate (as it may from time to time be amended in accordance with the provisions of this Section 3.2) unless it receives notice in writing from the Bond Trustee to the effect that a Guarantor Acceleration Notice has been served on the Guarantor and shall, thereafter, act solely on the instructions of the Bond Trustee or such person as the Bond Trustee may designate and in accordance with the terms of those instructions as provided in Section 5.3 of this Agreement.
Appears in 2 contracts
Sources: Stand by Bank Account Agreement (BMO Covered Bond Guarantor Limited Partnership), Stand by Bank Account Agreement
Amendment or Revocation. Each of the Standby Account Bank and Standby GIC Provider agrees that it shall notify the Bond Trustee as soon as is reasonably practicable and in accordance with Article Section 12 if it receives any amendment to or revocation of the Standby GIC Mandate or the Standby Transaction Account Mandate relating to the Guarantor Accounts (other than a change of authorized signatory, which may be made from time to time by the Guarantor (or the Cash Manager on its behalf)) and shall require the prior written consent of the Bond Trustee to any such amendment or revocation (other than a change of authorized signatory, which may be made from time to time by the Guarantor (or the Cash Manager on its behalf)) but, unless such Mandate is revoked, the Standby Account Bank and Standby GIC Provider may continue to comply with the relevant Mandate (as it may from time to time be amended in accordance with the provisions of this Section 3.2) unless it receives notice in writing from the Bond Trustee to the effect that a Guarantor Acceleration Notice has been served on the Guarantor and shall, thereafter, act solely on the instructions of the Bond Trustee or such person as the Bond Trustee may designate and in accordance with the terms of those instructions as provided in Section 5.3 of this Agreement.
Appears in 1 contract
Sources: Standby Bank Account Agreement
Amendment or Revocation. Each of the The Standby Account Bank and Standby GIC Provider Depository Institution agrees that it shall notify the Bond Trustee as soon as is reasonably practicable and in accordance with Article Section 12 if it receives any amendment to to, or revocation of of, the Standby GIC Mandate or the Standby Transaction Account Mandate relating to the Guarantor Accounts (other than a change of authorized signatory, which may be made from time to time by the Guarantor (or the Cash Manager on its behalf)) and shall require the prior written consent of the Bond Trustee to any such amendment or revocation (other than a change of authorized signatory, which may be made from time to time by the Guarantor (or the Cash Manager on its behalf)) but, unless such Mandate is revoked, the Standby Account Bank and Standby GIC Provider Depository Institution may continue to comply with the relevant such Mandate (as it may from time to time be amended in accordance with the provisions of this Section 3.2) unless it receives notice in writing from the Bond Trustee to the effect that a Guarantor Acceleration Notice has been served on the Guarantor and shall, thereafter, act solely on the instructions of the Bond Trustee or such person Person as the Bond Trustee may designate and in accordance with the terms of those instructions as provided in Section 5.3 of this Agreement.
Appears in 1 contract
Sources: Standby Account Agreement
Amendment or Revocation. Each of the Standby Account Bank and Standby GIC Provider agrees that it shall notify the Bond Trustee as soon as is reasonably practicable and in accordance with Article 12 if it receives any amendment to or revocation of the Standby GIC Mandate or the Standby Transaction Account Mandate relating to the Guarantor Accounts (other than a change of authorized signatory, which may be made from time to time by the Guarantor (or the Cash Manager on its behalf)) and shall require the prior written consent of the Bond Trustee to any such amendment or revocation (other than a change of authorized signatory, which may be made from time to time by the Guarantor (or the Cash Manager on its behalf)) but, unless such Mandate is revoked, the Standby Account Bank and Standby GIC Provider may continue to comply with the relevant Mandate (as it may from time to time be amended in accordance with the provisions of this Section 3.2) unless it receives notice in writing from the Bond Trustee to the effect that a Guarantor Acceleration Notice has been served on the Guarantor and shall, thereafter, act solely on the instructions of the Bond Trustee or such person as the Bond Trustee may designate and in accordance with the terms of those instructions as provided in Section 5.3 of this Agreement.
Appears in 1 contract
Sources: Standby Bank Account Agreement
Amendment or Revocation. Each of the The Standby Account Bank and Standby GIC Provider agrees that it shall will notify the Bond Trustee as soon as is reasonably practicable and in accordance with Article 12 (Notices) if it receives any amendment to or revocation of the Standby GIC GDA Account Mandate or the Standby Transaction Account Mandate relating to the Guarantor Accounts (other than a change of authorized signatoryAuthorized Signatory, which may be made from time to time by the Guarantor (or the Cash Manager on its behalf)) and shall will require the prior written consent of the Bond Trustee to any such amendment or revocation (other than a change of authorized signatoryAuthorized Signatory, which may be made from time to time by the Guarantor (or the Cash Manager on its behalf)) but, unless such Mandate is revoked, the Standby Account Bank and Standby GIC Provider may continue to comply with the relevant such Mandate (as it may from time to time be amended in accordance with the provisions of this Section 3.2) unless it receives notice in writing from the Bond Trustee to the effect that a Guarantor Acceleration Notice has been served on the Guarantor and shallwill, thereafter, act solely on the instructions of the Bond Trustee or such person as the Bond Trustee may designate and in accordance with the terms of those instructions as provided in Section 5.3 (Consequences of a Guarantor Acceleration Notice) of this Agreement.
Appears in 1 contract
Sources: Standby Bank Account Agreement (Bank of Nova Scotia /)
Amendment or Revocation. Each of the The Standby Account Bank and Standby GIC Provider agrees that it shall notify the Bond Trustee as soon as is reasonably practicable and in accordance with Article Section 12 if it receives any amendment to or revocation of the Standby GIC GDA Mandate or the Standby Transaction Account Mandate relating to the Guarantor Accounts (other than a change of authorized signatoryAuthorized Signatory, which may be made from time to time by the Guarantor (or the Cash Manager on its behalf)) and shall require the prior written consent of the Bond Trustee to any such amendment or revocation (other than a change of authorized signatoryAuthorized Signatory, which may be made from time to time by the Guarantor (or the Cash Manager on its behalf)) but, unless such Mandate is revoked, the Standby Account Bank and Standby GIC Provider may continue to comply with the relevant such Mandate (as it may from time to time be amended in accordance with the provisions of this Section 3.2) unless it receives notice in writing from the Bond Trustee to the effect that a Guarantor Acceleration Notice has been served on the Guarantor and shall, thereafter, act solely on the instructions of the Bond Trustee or such person as the Bond Trustee may designate and in accordance with the terms of those instructions as provided in Section 5.3 of this Agreement.
Appears in 1 contract
Sources: Standby Bank Account Agreement