All contracts, agreements, conveyances, deeds, leases, licences, and other instruments, undertakings, notices, instructions, orders, directions, mandates, indemnities, or authorities entered into or made with or addressed to the existing trust company in connection with or arising from its trust department business, whether alone or with any other person, before, and in force on, the appointed day shall, on and after that day, to the extent that they were previously binding upon and enforceable by, against, or in favour of the existing trust company, be binding upon, enforceable by and in full force and effect in every respect against, or in favour of, the New Company as fully and effectually as if, instead of the existing trust company, the New Company had been the person by whom they were entered into, with whom they were made, or to or by whom they were given or addressed, as the case may be.