Common use of AUTOMATIC SUCCESSION Clause in Contracts

AUTOMATIC SUCCESSION. Any company into which the Agent may be merged or with which it may consolidated, or any company to whom Agent may transfer a substantial amount of its Global Escrow business, shall be the Successor to the Agent without the execution or filing of any paper or any further act on the part of any of the Parties, anything herein to the contrary notwithstanding; provided that the combined capital and surplus of such Successor shall not be, immediately following such transaction, substantially less than the combined capital and surplus of the Agent immediately prior to such transaction.

AUTOMATIC SUCCESSION. Any company into which the Agent may be merged or with which it may be consolidated, or any company to whom Agent may transfer a substantial amount of its Global Escrow business, shall be the Successor successor to the Agent without the execution or filing of any paper or any further act on the part of any of the Parties, anything herein to the contrary notwithstanding; provided that the combined capital and surplus of such Successor shall not be, immediately following such transaction, substantially less than the combined capital and surplus of the Agent immediately prior to such transaction.

AUTOMATIC SUCCESSION. Any company into which the Agent may be merged or with which it may be consolidated, or any company to whom Agent may transfer a substantial amount of its Global Escrow escrow business, shall be the Successor successor to the Agent without the execution or filing of any paper or any further act on the part of any of the PartiesDepositors, anything herein to the contrary notwithstanding; provided that the combined capital and surplus of such Successor shall not be, immediately following such transaction, substantially less than the combined capital and surplus of the Agent immediately prior to such transaction.

AUTOMATIC SUCCESSION. Any company into which the Agent may be merged or with which it may be consolidated, or any company to whom Agent may transfer a substantial amount of its Global Escrow escrow business, shall be the Successor successor to the Agent without the execution or filing of any paper or any further act on the part of any of the Partiesofthe parties, anything herein to the contrary notwithstanding; provided that the combined capital and surplus of such Successor shall not be, immediately following such transaction, substantially less than the combined capital and surplus of the Agent immediately prior to such transaction.

AUTOMATIC SUCCESSION. Any company into which the Agent may be merged or with which it may be consolidated, or any company to whom Agent may transfer a substantial amount of its Global Escrow business, shall be the Successor successor to the Agent without the execution or filing of any paper or any further act on the part of any of the Partiesparties, anything herein to the contrary notwithstanding; provided that the combined capital and surplus of such Successor shall not be, immediately following such transaction, substantially less than the combined capital and surplus of the Agent immediately prior to such transaction.

AUTOMATIC SUCCESSION. Any company into which the Agent may be merged or with which it may be consolidated, or any company to whom Agent may transfer a substantial amount of its Global Escrow business, shall be the Successor to the Agent without the execution or filing of any paper or any further act on the part of any of the Parties, anything herein to the contrary notwithstanding; provided that the combined capital . The undersigned Agent hereby agrees to hold, deal with and surplus of such Successor shall not be, immediately following such transaction, substantially less than the combined capital and surplus dispose of the Agent immediately prior Assets at any time deposited to such transaction.the Account in accordance with the foregoing Escrow Agreement. AGENT:

AUTOMATIC SUCCESSION. Any company into which the Agent may be merged or with which it may be consolidated, or any company to whom Agent may transfer a substantial amount of its Global Escrow escrow-related business, shall be the Successor successor to the Agent without the execution or filing of any paper or any further act on the part of any of the Partiesparties, anything herein to the contrary notwithstanding; provided provided, however, that the combined capital such successor shall assume and surplus be bound to perform all of such Successor shall not be, immediately following such transaction, substantially less than the combined capital and surplus of the Agent immediately prior to such transactionAgent's duties under this Agreement.

AUTOMATIC SUCCESSION. Any company into which the Agent may be -------------------- merged or with which it may be consolidated, or any company to whom Agent may transfer a substantial amount of its Global Escrow business, shall be the Successor to the Agent without the execution or filing of any paper or any further act on the part of any of the Parties, anything herein to the contrary notwithstanding; provided that the combined capital and surplus of such Successor shall not be, immediately following such transaction, substantially less than the combined capital and surplus of the Agent immediately prior to such transaction.