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1991-11-13 Resolution 45
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1991-11-13 Resolution 45
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7/18/2008 3:23:04 PM
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instruments in writing shall, on request, be executed, acknowledged <br />and delivered by the Authority. <br />(e) Any corporation into which the Escrow Trustee, or <br />any successor to it in the trusts, duties and obligations created <br />by this Agreement, may be merged or converted or with which it or <br />any successor to it may be consolidated,. or any corporation <br />resulting from any merger, conversion, consolidation or <br />reorganization to which the Escrow~Trustee or any successor to it <br />shall be a party shall, if approved in writing by the Authority <br />(which approval shall not be unreasonably withheld), be the <br />successor Escrow Trustee under this Agreement and vested with all <br />of the title to the Trust Estate and all the estates, properties, <br />rights, immunities, powers, trusts, duties and obligations of its <br />predecessor without the execution or filing of any paper or any <br />• further act, deed or conveyance on the part of any of the parties <br />hereto, anything herein to the contrary notwithstanding. <br />Section 13. Payments to Escrow Trustee. The Escrow <br />Trustee shall be entitled to payment and reimbursement for fees <br />and for its services rendered hereunder and all advances, counsel <br />fees, and other expenses made or incurred by the Escrow Trustee in <br />connection with such services. The Escrow Trustee shall have no <br />lien, security interest or right of set-off whatsoever upon any of <br />the moneys or investments in the Escrow Fund for the payment of <br />fees and expenses for services rendered by the Escrow Trustee under <br />this Agreement. <br />• <br />-13- <br />
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