Common use of Change of Trustee Clause in Contracts

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

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