Common use of Change of Account Bank Clause in Contracts

Change of Account Bank. In the event of a change of Account Bank in accordance with the Credit Agreement, the amount (if any) standing to the credit of the Security Account maintained with the old Account Bank shall be transferred to the corresponding Security Account maintained with the new Account Bank forthwith upon the appointment taking effect. The Chargor shall take any action which the Security Agent may reasonably require to facilitate such change of Account Bank and any transfer of credit balances (including the execution of bank mandate forms).