Common use of Notice of Assignment and Acknowledgement Clause in Contracts

Notice of Assignment and Acknowledgement. (a) The Account Bank agrees that promptly upon receipt of a notice of assignment signed by Funding 1, in (or substantially in) the form of notice set out in Part 1 of Schedule 2, hereto, the Account Bank shall sign and duly return to Funding 1, with a copy to the Funding 1 Security Trustee and the Funding 2 Security Trustee, an acknowledgement in (or substantially in) the form of acknowledgement set out in Part 2 of Schedule 2 hereto. (b) The Account Bank agrees that promptly upon receipt of a notice of assignment signed by Funding 2, in (or substantially in) the form of notice set out in Part 3 of Schedule 2 hereto, the Account Bank shall sign and duly return to Funding 2 with a copy to the Funding 1 Security Trustee and the Funding 2 Security Trustee, an acknowledgement in (or substantially in) the form of acknowledgement set out in Part 4 of Schedule 2 hereto.

Notice of Assignment and Acknowledgement. (a) The Account Bank agrees that promptly upon receipt of a notice of assignment signed by Funding 1, in (or substantially in) the form of notice set out in Part 1 of Schedule 2, 2 hereto, the Account Bank shall sign and duly return to Funding 1, with a copy to the Funding 1 Security Trustee and the Funding 2 Security Trustee, an acknowledgement in (or substantially in) the form of acknowledgement set out in Part 2 of Schedule 2 hereto. (b) The Account Bank agrees that promptly upon receipt of a notice of assignment signed by Funding 2, in (or substantially in) the form of notice set out in Part 3 of Schedule 2 hereto, the Account Bank shall sign and duly return to Funding 2 with a copy to the Funding 1 Security Trustee and the Funding 2 Security Trustee, an acknowledgement in (or substantially in) the form of acknowledgement set out in Part 4 of Schedule 2 hereto.