Common use of Condition to Resignation and Termination Clause in Contracts

Condition to Resignation and Termination. No such resignation or (subject to Clause 13.5) termination of the appointment of the Taiwanese Paying Agent or Taiwanese Calculation Agent shall, however, take effect until a new Taiwanese Paying Agent (which shall be a bank) or, as the case may be, Taiwanese Calculation Agent has been appointed and no resignation or termination of the appointment of a Paying Agent shall take effect if there would not then be Paying Agents as required by the NTD Conditions. If the Relevant Issuer fails to appoint a replacement agent within a reasonable period of time then that Agent may, on behalf of the Relevant Issuer appoint a replacement agent instead.

Condition to Resignation and Termination. No such resignation or (subject to Clause 13.5) termination of the appointment of the Taiwanese Paying Agent or Taiwanese Calculation Agent shall, however, take effect until a new Taiwanese Paying Agent (which shall be a bank) or, as the case may be, Taiwanese Calculation Agent has been appointed and no resignation or termination of the appointment of a Paying Agent shall take effect if there would not then be Paying Agents as required by the Senior NTD Notes Conditions. If the Relevant Issuer fails to appoint a replacement agent within a reasonable period of time then that Agent may, on behalf of the Relevant Issuer appoint a replacement agent instead.

Condition to Resignation and Termination. No such resignation or (subject to Clause 13.5) termination of the appointment of the Taiwanese Paying Agent or Taiwanese Calculation Agent shall, however, take effect until a new Taiwanese Paying Agent (which shall be a bank) or, as the case may be, Taiwanese Calculation Agent has been appointed and no resignation or termination of the appointment of a Paying Agent shall take effect if there would not then be Paying Agents as required by the Senior NTD Notes Conditions. If the Relevant Issuer fails to appoint a replacement agent within a reasonable period of time then that Agent may, on behalf of the Relevant Issuer appoint a replacement agent instead.