Common use of Qualifications; Resignation and Replacement Clause in Contracts

Qualifications; Resignation and Replacement. Each Remarketing Agent shall be authorized by law to perform all the duties imposed upon it. A Remarketing Agent may at any time resign and be discharged of the duties and obligations described in this Bond Indenture as set forth in its Remarketing Agreement. A Remarketing Agent may suspend or immediately terminate its remarketing efforts as set forth in its Remarketing Agreement. Successor Remarketing Agents may be appointed from time to time by the Borrower if not objected to by the Credit Facility Provider (if any) or Liquidity Facility Provider (if any) for such Bonds. The Remarketing Agent for the Bonds of any subseries may be removed upon 30 days’ notice upon the written Request of the Borrower and upon written notice to such Remarketing Agent, the Issuer, the Trustee, the Tender Agent, and the Liquidity Facility Provider (if any) and Credit Facility Provider (if any) for such Bonds, so long as a successor Remarketing Agent shall have assumed the duties thereof for such Bonds by the effective date of such removal.