Removal of the Agent Sample Clauses

Removal of the Agent. If (a) the Agent shall cease to be eligible in accordance with the provisions of Section 14.11 and shall fail to resign after written request by all of the Lenders; (b) a receiver of the Agent or of its property shall be appointed or any Governmental Authority shall take charge or control of the Agent or of its property or affairs for the purpose of rehabilitation, conservation or liquidation; or (c) the Agent shall be grossly negligent in the performance of its material duties and obligations under this Agreement or the Custody Agreement or engage in willful misconduct concerning any such material duties and obligations, then, in any such case, upon the unanimous consent of all the Lenders -- excluding for purposes of this Section the Agent -- the Agent may be removed and a successor Agent appointed by written instrument, in duplicate, one copy of which shall be delivered to the Agent so removed and one copy to the successor Agent.
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Removal of the Agent. If (a) a receiver shall be appointed by any Governmental Authority of competent jurisdiction and shall take charge or control of the Agent or of its Property or affairs for the purpose of rehabilitation, conservation or liquidation, or (b) the Agent shall be grossly negligent in the performance of its material duties and obligations under this Agreement or engage in willful misconduct concerning any such material duties and obligations, then, in any such case, the Lenders (other than any Lender which is then the Agent) may remove the Agent and appoint a successor by written instrument, in duplicate, one copy of which shall be delivered to the Agent so removed and one copy to the successor Agent; or the Lenders (other than any Lender which is then the Agent) may petition any court of competent jurisdiction for the removal of the Agent and the appointment of a successor Agent. After such notice, if any, as it may deem proper and prescribe, such court may remove the Agent and appoint a successor Agent.
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Removal of the Agent. The Agent may be removed at any time by an instrument or concurrent instruments in writing signed and acknowledged by the Required Lenders and delivered to the Agent and TIMET. The provisions of this Article XIV of this Agreement and Section 15.9 of this Agreement shall continue in effect for the benefit of the Agent that was removed in accordance with the preceding sentence of this Agreement (and its Affiliates and sub-agents) in respect of any actions taken or omitted to be taken by any of them while the removed Agent was acting as Agent.
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Removal of the Agent. The Agent or any successor thereto may be removed at any time by the Holder by an instrument in writing signed and duly acknowledged by such Holder, a facsimile of which shall be filed with the Authority. Upon a sale of the entire principal outstanding amount of the Bond by the Purchaser, the Borrower shall have the right to remove the Agent by an instrument signed and duly acknowledged by the Borrower.
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Removal of the Agent. The Agent may be removed at any time by an instrument or concurrent instruments in writing delivered to the Agent and to the other parties hereto and signed by the Majority Noteholders.
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Removal of the Agent. If (a) the Agent shall cease to be eligible in accordance with the provisions of Section 11.6 and shall fail to resign after written request therefor by the Banks (other than any Bank which is then the Agent), or (b) a receiver of it or of its Property shall be appointed by any Governmental Authority of competent jurisdiction and shall take charge or control of it or of its Property or affairs for the purpose of rehabilitation, conservation or liquidation, or (c)
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Removal of the Agent. The Agent may be removed at any time with or without cause by written notice received by the Agent from a Bank Majority, such removal to be effective on the date specified by the Bank Majority, which date shall not be more than 120 days following the date of such written notice to the Agent. The consent of Borrower shall be required prior to any removal of Agent without cause becoming effective (with the determination by a Bank Majority of cause being conclusive for purposes of determining whether Borrower's consent is required); provided, however, that if an Event of Default or Unmatured Event of Default has occurred and is continuing, the consent of Borrower shall not be required.
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Removal of the Agent. A. The Administrative Agent may at any time give notice of its resignation to the Lenders, the Issuing Banks and the Borrower. Upon receipt of any such notice the Required Lenders shall have the right . . . to appoint a successor. MCAP, Agency § 6(a). B. Agent may resign on thirty (30) days’ written notice to each of the Lenders and, upon such resignation, the Required ▇▇▇▇▇▇▇ will promptly designate a successor Agent. Sample Credit Agreement 1 § 15.
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Removal of the Agent. 10.8.1 Subject to a showing of gross negligence or willful misconduct, all of the other Lenders, acting unanimously, may require the Agent to resign at any time by providing such Agent and the Borrowers with a written request from all such other Lenders for such Agent's resignation. 10.8.2 In the event that the Agent's Committed Share of all of the Commitments shall in the aggregate at any time be less than the lesser of (x) five percent (5%) of the total amount of all of the Commitments and (y) $5,000,000.00, the Agent shall resign. 10.8.3 Upon any required resignation of the Agent under this Section, the Required Lenders shall appoint another Lender as successor Agent; provided that such Lender satisfies the qualifications for a successor Agent upon the voluntary resignation of an Agent pursuant to Section 10.7 or, if none, another entity meeting those qualifications.
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Related to Removal of the Agent

  • Replacement of the Agent 15.28.1 After consultation with the Borrower, the Majority Lenders may, by giving thirty (30) days’ notice to the Agent (or, at any time the Agent is an Impaired Agent, by giving any shorter notice determined by the Majority Lenders) replace the Agent by appointing a successor Agent. 15.28.2 The retiring Agent shall (at its own cost if it is an Impaired Agent and otherwise at the expense of the Lenders) make available to the successor Agent such documents and records and provide such assistance as the successor Agent may reasonably request for the purposes of performing its function as Agent under the Finance Documents. 15.28.3 The appointment of the successor Agent shall take effect on the date specified in the notice from the Majority Lenders to the retiring Agent. As from this date, the retiring Agent shall be discharged from any further obligation in respect of the Finance Documents (other than its obligations under Clause 15.28.2 but shall remain entitled to the benefit of this Clause 15 (and any agency fees for the account of the retiring Agent shall cease to accrue from (and shall be payable on) that date). 15.28.4 Any successor Agent and each of the other Parties shall have the same rights and obligations amongst themselves as they would have had if such successor had been an original Party.

  • Removal of Collateral Grantor shall keep the Collateral (or to the extent the Collateral consists of intangible property such as accounts, the records concerning the Collateral) at Grantor's address shown above, or at such other locations as are acceptable to Lender. Except in the ordinary course of its business, including the sales of inventory, Grantor shall not remove the Collateral from its existing locations without the prior written consent of Lender. To the extent that the Collateral consists of vehicles, or other titled property, Grantor shall not take or permit any action which would require application for certificates of title for the vehicles outside the State of California, without the prior written consent of Lender.

  • Appointment of the Agent (a) Each other Finance Party appoints the Agent to act as its agent under and in connection with the Finance Documents. (b) Each other Finance Party authorises the Agent to exercise the rights, powers, authorities and discretions specifically given to the Agent under or in connection with the Finance Documents together with any other incidental rights, powers, authorities and discretions.

  • Resignation or Removal of Custodian The Custodian may resign at any time upon thirty (30) days notice in writing to the Investment Company. Upon such resignation, the Investment Company shall notify the depositor, and shall appoint a successor custodian under this Agreement. The depositor or the Investment Company at any time may remove the Custodian upon 30 days written notice to that effect in a form acceptable to and filed with the custodian. Such notice must include designation of a successor custodian. The successor custodian shall satisfy the requirements of Section 408(h) of the Code. Upon receipt by the Custodian of written acceptance of such appointment by the successor custodian, the Custodian shall transfer and pay over to such successor the assets of and records relating to the custodial account. The Custodian is authorized, however, to reserve such sum of money as it may deem advisable for payment of all its fees, compensation, costs and expenses, or for payment of any other liability constituting a charge on or against the assets of the custodial account or on or against the Custodian, and where necessary may liquidate shares in the custodial account for such payments. Any balance of such reserve remaining after the payment of all such items shall be paid over to the successor custodian. The Custodian shall not be liable for the acts or omissions of any predecessor or successor custodian or trustee.

  • Resignation or Removal of Administrative Agent Subject to the appointment and acceptance of a successor Administrative Agent as provided in this Section 11.06, the Administrative Agent may resign at any time by notifying the Lenders, the Issuing Bank and the Borrower, and the Administrative Agent may be removed by the Majority Lenders if the Administrative Agent in its capacity as a Lender is a Defaulting Lender pursuant to clause (d) of the definition thereof. Upon any such resignation or removal, the Majority Lenders shall have the right, in consultation with the Borrower, to appoint a successor. If no successor shall have been so appointed by the Majority Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation or removal of the retiring Administrative Agent, then the retiring Administrative Agent may, on behalf of the Lenders and the Issuing Bank, appoint a successor Administrative Agent which shall be a bank with an office in New York, New York, or an Affiliate of any such bank. Upon the acceptance of its appointment as Administrative Agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents. The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the Administrative Agent’s resignation hereunder, the provisions of this Article XI and Section 12.03 shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while it was acting as Administrative Agent.