Common use of Effect of Resignation Clause in Contracts

Effect of Resignation. Upon its resignation or removal becoming effective the Fiscal Agent shall forthwith transfer all moneys held by it hereunder and the records referred to in clause 7.4 (Costs and Indemnity) hereof and all Bonds and Coupons held by it to the successor Fiscal Agent or, if none, the Issuer or to the Issuer's order, but shall have no other duties or responsibilities hereunder, and shall be entitled to the payment by the Issuer of its remuneration for the services previously rendered hereunder in accordance with the terms of clause 14 (Fees and Expenses) and to the reimbursement of all reasonable expenses (including legal fees) incurred in connection therewith.