Common use of Successor Operating Bank Clause in Contracts

Successor Operating Bank. If the Operating Bank should change as a result of (A) the resignation of the Senior Trustee or replacement of the Senior Trustee by an Eligible Institution pursuant to the terms of the Indenture, (B) the repayment in full of the Senior Class of Notes or (C) such Operating Bank's failure to meet the criteria necessary to qualify as an Eligible Institution, then the Cash Manager, acting on behalf of the Security Trustee, shall thereupon promptly establish replacement accounts as necessary at the successor Operating Bank and transfer the balance of funds in each Account then maintained at the former Operating Bank to such successor Operating Bank.

Appears in 3 contracts

Samples: Management Agreement (Aerco LTD), Cash Management Agreement (Aerco LTD), Cash Management Agreement (Aerco LTD)

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Successor Operating Bank. If the Operating Bank should change as a result of (A) the resignation of the Senior Trustee or replacement of the Senior Trustee by an Eligible Institution pursuant to the terms of the Indenture, (B) the repayment in full of the Senior Class of Notes or (C) such Operating Bank's failure to meet the criteria necessary to qualify as an Eligible Institution, then the Cash ManagerAdministrative Agent, acting on behalf of the Security Trustee, shall thereupon promptly establish replacement accounts as necessary at the successor Operating Bank and transfer the balance of funds in each Account then maintained at the former Operating Bank to such successor Operating Bank.

Appears in 2 contracts

Samples: Administrative Agency Agreement (Morgan Stanley Aircraft Finance), Administrative Agency Agreement (Morgan Stanley Aircraft Finance)

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Successor Operating Bank. If the any Operating Bank should change as a result of (A) the resignation of the Senior Indenture Trustee or replacement of the Senior Indenture Trustee by an Eligible Institution pursuant to the terms of the Indenture, (B) the repayment in full of the Senior Class of Series A Notes or (C) such Operating Bank's ’s failure to meet the criteria necessary to qualify as an Eligible Institution, then the Cash ManagerAdministrative Agent, acting on behalf of the Security Indenture Trustee, shall thereupon promptly establish replacement accounts Accounts as necessary at the a successor Operating Bank and transfer the balance of funds in each Account then maintained at the former Operating Bank to such successor Operating Bank.

Appears in 1 contract

Samples: Administrative Agency Agreement (Willis Lease Finance Corp)

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