Common use of Condition to Resignation and Termination Clause in Contracts

Condition to Resignation and Termination. No such resignation or (subject to Clause 20.5) termination of the appointment of the Fiscal Agent, Registrar or Calculation Agent shall, however, take effect until a new Fiscal Agent (which shall be a bank or trust company) or, as the case may be, Registrar or Calculation Agent has been appointed and no resignation or termination of the appointment of a Paying Agent or Transfer Agent shall take effect if there would not then be Paying Agents or Transfer Agents as required by the Conditions. If any Agent gives notice of its resignation in accordance with Clause 20.2 and by the tenth day before the expiry of such notice a successor has not been duly appointed in accordance with this Clause 20 then the Agent may itself, following such consultation with the Issuer as is practicable in the circumstances, appoint as its successor any reputable and experienced financial institution and give notice of such appointment to the Issuer, the remaining Agents and the Noteholders, and the successor Agent shall acquire and become subject to the same rights and obligations as if it had entered into an agreement in the form mutatis mutandis of this Agreement.

Condition to Resignation and Termination. No such resignation or (subject to Clause 20.518.5) termination of the appointment of the Fiscal Agent, Registrar or Calculation Agent shall, however, take effect until a new Fiscal Agent (which shall be a bank or trust company) or, as the case may be, Registrar or Calculation Agent has been appointed and no resignation or termination of the appointment of a Paying Agent or Transfer Agent shall take effect if there would not then be Paying Agents or Transfer Agents as required by the Conditions. If any Agent gives notice of its resignation in accordance with Clause 20.2 18.2 and by the tenth day before the expiry of such notice a successor has not been duly appointed in accordance with this Clause 20 18 then the Agent may itself, following such consultation with the Issuer as is practicable in the circumstances, appoint as its successor any reputable and experienced financial institution and give notice of such appointment to the Issuer, the remaining Agents and the Noteholders, and the successor Agent shall acquire and become subject to the same rights and obligations as if it had entered into an agreement in the form mutatis mutandis of this Agreement.

Condition to Resignation and Termination. No such resignation or (subject to sub-Clause 20.513.5) termination of the appointment of the Fiscal Agent, Registrar or Calculation Agent shall, however, take effect until a new Fiscal Agent (which shall be a bank or trust company) or, as the case may be, Registrar or Calculation Agent has been appointed and no resignation or termination of the appointment of a Paying Agent or Transfer Agent shall take effect if there would not then be Paying Agents or Transfer Agents as required by the Conditions. If any Agent gives notice of its resignation in accordance with Clause 20.2 13.2 and by the tenth day before the expiry of such notice a successor has not been duly appointed in accordance with this Clause 20 then the appointed, such Agent may itself, following such consultation with the Issuer as is practicable in the circumstances, appoint on behalf of the Issuer as its successor any reputable and experienced financial institution that complies with the eligibility requirements of the clearing systems and give notice of such appointment to the Issuer, the remaining Agents and the Noteholders, whereupon the Issuer, the remaining Agents and the such successor Agent shall acquire and become subject to the same rights and obligations between themselves as if it they had entered into an agreement in the form mutatis mutandis of this Agreement.