Common use of Automatic Succession Clause in Contracts

Automatic Succession. Any bank or trust company into which Custodian or any successor Custodian may be merged or converted or with which it or any successor Custodian may be consolidated or any bank or trust company resulting from any merger, conservation or consolidation to which Custodian or any successor Custodian shall be a party or any bank or trust company succeeding to the business of Custodian or any successor Custodian, shall be substituted as successor Custodian under this Agreement and any amendments thereof without the execution of any instrument or any further act on the part of AECC or Custodian or any successor Custodian.

Automatic Succession. Any bank or trust company into which Custodian or any successor Custodian may be merged or converted or with which it or any successor Custodian may be consolidated or any bank or trust company resulting from any merger, conservation or consolidation to which Custodian or any successor Custodian shall be a party or any bank or trust company succeeding to the business of Custodian or any successor Custodian, shall be substituted as successor Custodian under this Agreement and any amendments thereof without the execution of any instrument or any further act on the part of AECC ACC or Custodian or any successor Custodian.