Appointment of Depositary Bank. (a) (i) As of the Effective Date, Bank of America, N.A., is hereby appointed to act as (A) a Depositary Bank for the Collateral Agent and as agent of the Collateral Agent with respect to the Accounts as set forth in Exhibit A and (B) Securities Intermediary with respect to the Accounts hereunder, with such powers as are expressly delegated to such Depositary Bank by the terms of this Agreement, together with such other powers as are reasonably incidental thereto and such Depositary Bank hereby accepts such appointment and (ii) after the Effective Date, each Approved Bank that becomes a party hereto is hereby appointed to act as (A) a Depositary Bank for the Collateral Agent and as agent of the Collateral Agent with respect to the Accounts set forth in Exhibit A and (B) Securities Intermediary with respect to the Accounts hereunder, with such powers as are expressly delegated to such Depositary Bank by the terms of this Agreement, together with such other powers as are reasonably incidental thereto and such Depositary Bank hereby accepts such appointment.
Appointment of Depositary Bank. (a) (i) As of the Effective Date, Bank of America, N.A., is hereby appointed to act as (A) a Depositary Bank with respect to the Accounts as set forth in Exhibit A and
Appointment of Depositary Bank. The Collateral Agent, on behalf and at the request of each Lender, hereby appoints the Depositary Bank to act as depositary bank and “securities intermediary” as defined in Section 8-102(a)(14) of Article 8 of the UCC, with such powers as are expressly delegated to the Depositary Bank by the terms of this Agreement, and the Depositary Bank hereby accepts such appointment (and the Borrower hereby consents thereto) as Depositary Bank and as a “securities intermediary” within the meaning of such term as defined in Section 8-102(a)(14) of Article 8 of the UCC.
Appointment of Depositary Bank. The Depositary Bank is appointed to act as depositary bank and disbursement agent hereunder and agrees to act as such, to accept all cash, payments and other amounts delivered to or held by it pursuant to the terms of this Agreement or any other Financing Document and to distribute all such funds and perform all of its other obligations in accordance with this Agreement. The Depositary Bank shall hold and safeguard the Accounts and shall treat the cash, instruments and securities in the Accounts as funds, instruments and securities pledged by the Borrower to the Collateral Agent to be held in the custody of the Depositary Bank, as agent solely for the benefit of the Collateral Agent and Secured Parties, in trust and in accordance with the provisions of this Agreement.
