Common use of Substitution of Escrow Bank Clause in Contracts

Substitution of Escrow Bank. The Contractor may, by not less than 45 (forty five) days prior notice to the Escrow Bank and the Government, terminate this Agreement and appoint a new Escrow Bank, provided that the new Escrow Bank is acceptable to the Government and arrangements are made satisfactory to the Government for transfer of amounts deposited in the Escrow Account to a new Escrow Account established with the successor Escrow Bank.The termination of this Agreement shall take effect only upon coming into force of an Escrow Agreement with the substitute Escrow Bank.

Substitution of Escrow Bank. The Contractor Concessionaire may, by not less than 45 (forty five) days prior notice to the Escrow Bank Bank, the Authority and the GovernmentLenders’ Representative, terminate this Agreement and appoint a new Escrow Bank, provided that the new Escrow Bank is acceptable to the Government Lenders’ Representative and arrangements are made satisfactory to the Government Lenders’ Representative for transfer of amounts deposited in the Escrow Account to a new Escrow Account established with the successor Escrow Bank.. The termination of this Agreement shall take effect only upon coming into force of an Escrow Agreement with the substitute Escrow Bank.

Substitution of Escrow Bank. The Contractor Operator may, by not less than 45 (forty five) days prior notice to the Escrow Bank Bank, the DTTDC and the GovernmentLenders' Representative, terminate this Agreement and appoint a new Escrow Bank, provided that the new Escrow Bank is acceptable to the Government Lenders' Representative and arrangements are made satisfactory to the Government Lenders' Representative for transfer of amounts deposited in the Escrow Account to a new Escrow Account established with the successor Escrow Bank.. The termination of this Escrow Agreement shall take effect only upon coming into force of an Escrow Agreement with the substitute Escrow Bank.

Substitution of Escrow Bank. The Contractor Concessionaire may, by not less than 45 (forty five) days prior notice to the Escrow Bank Bank, the Authority and the GovernmentLenders‟ Representative, terminate this Agreement and appoint a new Escrow Bank, provided that the new Escrow Bank is acceptable to the Government Lenders‟ Representative and arrangements are made satisfactory to the Government Lenders‟ Representative for transfer of amounts deposited in the Escrow Account to a new Escrow Account established with the successor Escrow Bank.. The termination of this Agreement shall take effect only upon coming into force of an Escrow Agreement with the substitute Escrow Bank.

Substitution of Escrow Bank. The Contractor Concessionaire may, by not less than 45 30 (forty fivethirty) days prior notice to the Escrow Bank Bank, the Authority and the GovernmentLenders’ Representative, terminate this Agreement and appoint a new Escrow Bank, provided that the new Escrow Bank is acceptable to the Government Lenders’ Representative and arrangements are made satisfactory to the Government Lenders’ Representative for transfer of amounts deposited in the Escrow Account to a new Escrow Account established with the successor Escrow Bank.. The termination of this Agreement shall take effect only upon coming into force of an Escrow Agreement with the substitute Escrow Bank.

Substitution of Escrow Bank. The Contractor Concessionaire may, by not less than 45 (forty five) days prior notice to the Escrow Bank Bank, the Authority and the GovernmentLenders’ Representative, terminate this Agreement and appoint a new Escrow Bank, provided that the new Escrow Bank is acceptable to the Government Lenders’ Representative as well as the Authority and arrangements are made satisfactory to the Government Lenders’ Representative for transfer of amounts deposited in the Escrow Account to a new Escrow Account established with the successor Escrow Bank.. The termination of this Agreement shall take effect only upon coming into force of an Escrow Agreement with the substitute Escrow Bank.

Substitution of Escrow Bank. i. The Contractor Concessionaire may, by not less than 45 (forty five) days prior notice to the Escrow Bank Bank, the Authority and the GovernmentLenders’ Representative, terminate this Agreement and appoint a new Escrow Bank, provided that the new Escrow Bank is acceptable to the Government Lenders’ Representative and arrangements are made satisfactory to the Government Lenders’ Representative for transfer of amounts deposited in the Escrow Account to a new Escrow Account established with the successor Escrow Bank.. The termination of this Agreement shall take effect only upon coming into force of an Escrow Agreement with the substitute Escrow Bank.

Substitution of Escrow Bank. The Contractor Concessionaire may, by not less than 45 (forty five) days prior notice to the Escrow Bank Bank, the Authority and the GovernmentLenders’ Representative, terminate this Agreement and appoint a new Escrow Bank, provided that the new Escrow Bank is acceptable to the Government Lenders’ Representative as well as the Authority and arrangements are made satisfactory to the Government Lenders’ Representative for transfer of amounts deposited in the Escrow Account to a new Escrow Account established with the successor Escrow Bank.. The termination of this Agreement shall take effect only upon coming into force of an Escrow Agreement with the substitute Escrow Bank.

Substitution of Escrow Bank. i. The Contractor Concessionaire may, by not less than 45 (forty five) days prior notice to the Escrow Bank Bank, the Authority and the GovernmentLenders’ Representative, terminate this Agreement and appoint a new Escrow Bank, provided that the new Escrow Bank is acceptable to the Government Lenders’ Representative and arrangements are made satisfactory to the Government Lenders’ Representative for transfer of amounts deposited in the Escrow Account to a new Escrow Account established with the successor Escrow Bank.. The termination of this Agreement shall take effect only upon coming into force of an Escrow Agreement with the substitute Escrow Bank.. Closure of Escrow Account

Substitution of Escrow Bank. The Contractor Operator may, by not less than 45 (forty five) days prior notice to the Escrow Bank and the Government, Authority terminate this Agreement and appoint a new Escrow Bank, provided that the new Escrow Bank is acceptable to the Government Authority and arrangements are made satisfactory to the Government Authority for transfer of amounts deposited in the Escrow Account to a new Escrow Account established with the successor Escrow Bank.. The termination of this Agreement shall take effect only upon coming into force of an Escrow Agreement with the substitute Escrow Bank.

Substitution of Escrow Bank. The Contractor Concessionaire may, by not less than 45 (forty forty-five) days prior notice to the Escrow Bank Bank, the Authority and the GovernmentLenders’ Representative, terminate this Agreement and appoint a new Escrow Bank, provided that the new Escrow Bank is acceptable to the Government Lenders’ Representative as well as the Authority and arrangements are made satisfactory to the Government Lenders’ Representative for transfer of amounts deposited in the Escrow Account to a new Escrow Account established with the successor Escrow Bank.. The termination of this Agreement shall take effect only upon coming into force of an Escrow Agreement with the substitute Escrow Bank.

Substitution of Escrow Bank. The Contractor Concessionaire may, by not less than 45 (forty five) days prior notice to the Escrow Bank Bank, the Authority and the GovernmentLenders’ Representative, terminate this Agreement and appoint a new Escrow Bank, provided that the new Escrow Bank is acceptable to the Government Lenders’ Representative and arrangements are made satisfactory to the Government Lenders’ Representative for transfer of amounts deposited in the Escrow Account to a new Escrow Account established with the successor Escrow Bank.. The termination of this Agreement shall take effect only upon coming into force of an Escrow Agreement with the substitute Escrow Bank.

Substitution of Escrow Bank. The Contractor Operator may, by not less than 45 (forty five) days Days prior notice to the Escrow Bank Bank, the Authority and the GovernmentSenior Lenders' Representative, terminate this Agreement and appoint a new Escrow Bank, provided that the new Escrow Bank is acceptable to the Government Senior Lenders' Representative and arrangements are made satisfactory to the Government Senior Lenders' Representative for transfer of amounts deposited in the Escrow Account to a new Escrow Account established with the successor Escrow Bank.. The termination of this Agreement shall take effect only upon coming into force of an Escrow Agreement with the substitute Escrow Bank.

Substitution of Escrow Bank. The Contractor Operator may, by not less than 45 (forty five) days prior notice to the Escrow Bank Bank, the Authority and the GovernmentLenders' Representative, terminate this Agreement and appoint a new Escrow Bank, provided that the new Escrow Bank is acceptable to the Government Lenders' Representative and arrangements are made satisfactory to the Government Lenders' Representative for transfer of amounts deposited in the Escrow Account to a new Escrow Account established with the successor Escrow Bank.. The termination of this Escrow Agreement shall take effect only upon coming into force of an Escrow Agreement with the substitute Escrow Bank.

Substitution of Escrow Bank. The Contractor Licensee may, by not less than 45 (forty five) days prior notice to the Escrow Bank Bank, the Authority and the GovernmentLenders’ Representative, terminate this Agreement and appoint a new Escrow Bank, provided that the new Escrow Bank is acceptable to the Government Lenders’ Representative and arrangements are made satisfactory to the Government Lenders’ Representative for transfer of amounts deposited in the Escrow Account to a new Escrow Account established with the successor Escrow Bank.. The termination of this Agreement shall take effect only upon coming into force of an Escrow Agreement with the substitute Escrow Bank.

Substitution of Escrow Bank. The Contractor Concessionaire may, by not less than 45 (forty five) days prior notice to the Escrow Bank Bank, the Concessioning Authority and the GovernmentLenders’ Representative, terminate this Agreement and appoint a new Escrow Bank, provided that the new Escrow Bank is acceptable to the Government Lenders’ Representative and arrangements are made satisfactory to the Government Lenders’ Representative for transfer of amounts deposited in the Escrow Account to a new Escrow Account established with the successor Escrow Bank.. The termination of this Agreement shall take effect only upon coming into force of an Escrow Agreement with the substitute Escrow Bank.