Common use of Removal of Remarketing Agent Clause in Contracts

Removal of Remarketing Agent. Owner agrees that (i) after the occurrence of any Event of Default or (ii) if, at any time, ▇▇▇▇▇▇ ▇▇▇ reasonably determines that there is a basis in fact for the removal of the then existing Remarketing Agent with respect to an issue of Related Bonds and the designation of a new Remarketing Agent with respect to such Related Bonds, if ▇▇▇▇▇▇ Mae so directs, Owner immediately shall take such action as is required under the Related Remarketing Agreement to remove the existing Remarketing Agent with respect to such Related Bonds and replace such Remarketing Agent, without interruption of service, with a Remarketing Agent acceptable to ▇▇▇▇▇▇ ▇▇▇. Owner acknowledges and agrees that any Remarketing Agent's failure to perform any of its duties or obligations under or with respect to the Related Indenture or the Related Remarketing Agreement, including, a failure to give or deliver any notice or information required under the Related Indenture or the Related Remarketing Agreement, shall constitute sufficient basis in fact for such Remarketing Agent's removal.

Removal of Remarketing Agent. Owner agrees that (ia) after the occurrence of any Event of Default or (iib) if, at any time, Fann▇▇▇▇ ▇▇▇ ▇▇▇ reasonably determines ▇ermines that there is a basis in fact for the removal of the then existing Remarketing Agent with respect to an issue of Related Bonds and the designation of a new Remarketing Agent with respect to such Related Bonds, if Fann▇▇▇▇ ▇▇▇ Mae so directs, directs Owner immediately shall take such action as is required under the Related Remarketing Agreement and the Related Indenture to remove the existing Remarketing Agent with respect to such Related Bonds and replace such Remarketing Agent, without interruption of service, with a Remarketing Agent acceptable to ▇▇▇▇Fann▇▇ ▇▇▇. Owner ▇wner acknowledges and agrees that any Remarketing Agent's failure to perform any of its duties or obligations under or with respect to the Related Indenture or the Related Remarketing Agreement, including, a failure to give or deliver any notice or information required under the Related Indenture or the Related Remarketing Agreement, shall constitute sufficient basis in fact for such Remarketing Agent's removal.