Common use of Termination by Account Bank Clause in Contracts

Termination by Account Bank. The Account Bank may terminate this Agreement and cease to operate the Guarantor Accounts at any time on giving not less than three months’ prior written notice thereof ending on any Canadian Business Day which does not fall on a Guarantor Payment Date or less than 10 Canadian Business Days before a Guarantor Payment Date to each of the other parties hereto, provided that such termination will not take effect (i) until a replacement Account Bank that is a chartered bank under the Bank Act with ratings required by the relevant Rating Agencies accedes to this Agreement or has entered into an agreement in form and substance similar to this Agreement, and (ii) the Rating Agency Condition has been satisfied in respect thereof. For greater certainty, the Account Bank will not be responsible for any costs or expenses occasioned by such termination and cessation. In the event of such termination and cessation the Account Bank will assist the other parties hereto to effect an orderly transition of the banking arrangements documented hereby.

Termination by Account Bank. The Account Bank may terminate this Agreement and cease to operate the Guarantor Accounts at any time on giving not less than three months’ prior written notice thereof ending on any Canadian Toronto Business Day which does not fall on a Guarantor Payment Date or less than 10 Canadian ten (10) Toronto Business Days before a Guarantor Payment Date to each of the other parties hereto, provided that such termination will not take effect (i) until a replacement Account Bank that is a chartered bank under the Bank Act with ratings required by the relevant Rating Agencies accedes to this Agreement or has entered into an agreement in form and substance similar to this Agreement, and (ii) the Rating Agency Condition has been satisfied in respect thereof. For greater certainty, the Account Bank will not be responsible for any costs or expenses occasioned by such termination and cessation. In the event of such termination and cessation the Account Bank will assist the other parties hereto to effect an orderly transition of the banking arrangements documented hereby.

Termination by Account Bank. The Account Bank may terminate this Agreement and cease to operate the Guarantor Accounts at any time on giving not less than three months’ prior written notice thereof ending on any Canadian Business Day which does not fall on a Guarantor Payment Date or less than 10 Canadian Business Days before a Guarantor Payment Date to each of the other parties hereto, hereto provided that such termination will shall not take effect (i) until a replacement Account Bank that is a chartered bank under the Bank Act with ratings required unsecured, unsubordinated and unguaranteed debt obligations, and issuer default ratings, rated by the relevant Rating Agencies accedes equal to this Agreement or greater than the Account Bank Threshold Ratings has entered into an agreement in form and substance similar to this Agreement, ; and (ii) the Rating Agency Condition has been satisfied in respect thereof. For greater certainty, the Account Bank will shall not be responsible for any costs or expenses occasioned by such termination and cessation. In the event of such termination and cessation the Account Bank will shall assist the other parties hereto to effect an orderly transition of the banking arrangements documented hereby.

Termination by Account Bank. The Account Bank may terminate this Agreement and cease to operate the Guarantor Accounts at any time on giving not less than three months’ prior written notice thereof ending on any Canadian Business Day which does not fall on a Guarantor Payment Date or less than 10 Canadian Business Days before a Guarantor Payment Date to each of the other parties hereto, hereto provided that such termination will shall not take effect (i) until a replacement Account Bank that is a chartered bank under the Bank Act with ratings required applicable ratings, rated by the relevant Rating Agencies accedes equal to this Agreement or greater than the Account Bank Threshold Ratings, has entered into an agreement in form and substance similar to this Agreement, ; and (ii) the Rating Agency Condition has been satisfied in respect thereof. For greater certainty, the Account Bank will shall not be responsible for any costs or expenses occasioned by such termination and cessation. In the event of such termination and cessation the Account Bank will shall assist the other parties hereto to effect an orderly transition of the banking arrangements documented hereby.