Common use of CHANGE OF SECURITY TRUSTEE Clause in Contracts

CHANGE OF SECURITY TRUSTEE. In the event that there is any change in the identity of the Security Trustee or an additional Security Trustee is appointed in accordance with the provisions of the Sixth Issuer Deed of Charge, the existing Security Trustee, the new Security Trustee or the retiring Security Trustee, as the case may be, the Sixth Issuer Cash Manager, the Sixth Issuer and the Sixth Issuer Account Bank shall execute such documents and take such actions as such of the new Security Trustee and the retiring Security Trustee or, as the case may be, the existing Security Trustee shall agree are reasonably necessary for the purpose of vesting in such new Security Trustee the rights, benefits and obligations of the Security Trustee under this Agreement and releasing the retiring Security Trustee from its future obligations hereunder.

Appears in 2 contracts

Sources: Bank Account Agreement (Permanent Financing (No. 6) PLC), Bank Account Agreement (Permanent Mortgages Trustee LTD)

CHANGE OF SECURITY TRUSTEE. In the event that there is any change in the identity of the Security Trustee or an additional Security Trustee is appointed in accordance with the provisions of the Sixth Eighth Issuer Deed of Charge, the existing Security Trustee, the new Security Trustee or the retiring Security Trustee, as the case may be, the Sixth Eighth Issuer Cash Manager, the Sixth Eighth Issuer and the Sixth Eighth Issuer Account Bank shall execute such documents and take such actions as such of the new Security Trustee and the retiring Security Trustee or, as the case may be, the existing Security Trustee shall agree are reasonably necessary for the purpose of vesting in such new Security Trustee the rights, benefits and obligations of the Security Trustee under this Agreement and releasing the retiring Security Trustee from its future obligations hereunder.

Appears in 2 contracts

Sources: Eighth Issuer Bank Account Agreement (Permanent Financing (No. 8) PLC), Eighth Issuer Bank Account Agreement (Permanent Mortgages Trustee LTD)

CHANGE OF SECURITY TRUSTEE. In the event that there is any change in the identity of the Security Trustee or an additional Security Trustee is appointed in accordance with the provisions of the Sixth Seventh Issuer Deed of Charge, the existing Security Trustee, the new Security Trustee or the retiring Security Trustee, as the case may be, the Sixth Seventh Issuer Cash Manager, the Sixth Seventh Issuer and the Sixth Seventh Issuer Account Bank shall execute such documents and take such actions as such of the new Security Trustee and the retiring Security Trustee or, as the case may be, the existing Security Trustee shall agree are reasonably necessary for the purpose of vesting in such new Security Trustee the rights, benefits and obligations of the Security Trustee under this Agreement and releasing the retiring Security Trustee from its future obligations hereunder.

Appears in 2 contracts

Sources: Seventh Issuer Bank Account Agreement (Permanent Mortgages Trustee LTD), Seventh Issuer Bank Account Agreement (Permanent Mortgages Trustee LTD)

CHANGE OF SECURITY TRUSTEE. In the event that there is any change in the identity of the Security Trustee or an additional Security Trustee is appointed in accordance with the provisions of the Sixth Fifth Issuer Deed of Charge, the existing Security Trustee, the new Security Trustee or the retiring Security Trustee, as the case may be, the Sixth Fifth Issuer Cash Manager, the Sixth Fifth Issuer and the Sixth Fifth Issuer Account Bank shall execute such documents and take such actions as such of the new Security Trustee and the retiring Security Trustee or, as the case may be, the existing Security Trustee shall agree are reasonably necessary for the purpose of vesting in such new Security Trustee the rights, benefits and obligations of the Security Trustee under this Agreement and releasing the retiring Security Trustee from its future obligations hereunder.

Appears in 1 contract

Sources: Fifth Issuer Bank Account Agreement (Permanent Financing (No. 5) PLC)

CHANGE OF SECURITY TRUSTEE. In the event that there is any change in the identity of the Security Trustee or an additional Security Trustee is appointed in accordance with the provisions of the Sixth Fourth Issuer Deed of Charge, the existing Security Trustee, the new Security Trustee or the retiring Security Trustee, as the case may be, the Sixth Fourth Issuer Cash Manager, the Sixth Fourth Issuer and the Sixth Fourth Issuer Account Bank shall execute such documents and take such actions as such of the new Security Trustee and the retiring Security Trustee or, as the case may be, the existing Security Trustee shall agree are reasonably necessary for the purpose of vesting in such new Security Trustee the rights, benefits and obligations of the Security Trustee under this Agreement and releasing the retiring Security Trustee from its future obligations hereunder.

Appears in 1 contract

Sources: Fourth Issuer Bank Account Agreement (Permanent Mortgages Trustee LTD)