Common use of Resignation by the Agent Clause in Contracts

Resignation by the Agent. The Agent may resign from the performance of all its functions and duties hereunder at any time by giving 30 Business Days' prior written notice to each Borrower, Resources and the Banks. Such resignation shall take effect upon the expiration of such 30 Business Day period or upon the earlier appointment of a successor. Upon any such resignation, the Required Banks shall appoint a successor Agent who shall be satisfactory to the Borrowers and Resources and shall be an incorporated bank or trust company. In the event no such successor shall have been so appointed, then any notifica- tion, demand or other communication required or permitted to be given by the Agent on behalf of the Banks to the Borrowers hereunder shall be sufficiently given if given by the Required Banks, and any notification, demand, other communication, document, statement, other paper or payment required to be made, given or furnished by PPL, Finance Co. or Resources to the Agent for distribution to the Banks shall be sufficiently made, given or furnished if made, given or furnished by PPL, Finance Co. or Resources, as applicable, directly to each Bank entitled thereto and, in the case of payments, in the amount to which each such Bank is entitled from the applicable Borrower. All powers spec- ifically delegated to the Agent by the terms hereof may be exercised by the Required Banks.

Resignation by the Agent. The Agent may resign from the ------------------------ performance of all its functions and duties hereunder at any time by giving 30 Business Days' prior written notice to each Borrower, Resources and the Banks. Such resignation shall take effect upon the expiration of such 30 Business Day period or upon the earlier appointment of a successor. Upon any such resignation, the Required Banks shall appoint a successor Agent who shall be satisfactory to the Borrowers and Resources and shall be an incorporated bank or trust company. In the event no such successor shall have been so appointed, then any notifica- tionnotification, demand or other communication required or permitted to be given by the Agent on behalf of the Banks to the Borrowers hereunder shall be sufficiently given if given by the Required Banks, and any notification, demand, other communication, document, statement, other paper or payment required to be made, given or furnished by PPL, Finance Co. or Resources to the Agent for distribution to the Banks shall be sufficiently made, given or furnished if made, given or furnished by PPL, Finance Co. or Resources, as applicable, directly to each Bank entitled thereto and, in the case of payments, in the amount to which each such Bank is entitled from the applicable Borrower. All powers spec- ifically specifically delegated to the Agent by the terms hereof may be exercised by the Required Banks.

Resignation by the Agent. The Agent may resign from the performance of all its functions and duties hereunder at any time by giving 30 Business Days' prior written notice to each Borrower, Resources and the Banks. Such resignation shall take effect upon the expiration of such 30 Business Day period or upon the earlier appointment of a successor. Upon any such resignation, the Required Banks shall appoint a successor Agent who shall be satisfactory to the Borrowers and Resources and shall be an incorporated bank or trust company. In the event no such successor shall have been so appointed, then any notifica- tionnotification, demand or other communication required or permitted to be given by the Agent on behalf of the Banks to the Borrowers hereunder shall be sufficiently given if given by the Required Banks, and any notification, demand, other communication, document, statement, other paper or payment required to be made, given or furnished by PPL, Finance Co. or Resources to the Agent for distribution to the Banks shall be sufficiently made, given or furnished if made, given or furnished by PPL, Finance Co. or Resources, as applicable, directly to each Bank entitled thereto and, in the case of payments, in the amount to which each such Bank is entitled from the applicable Borrower. All powers spec- ifically specifically delegated to the Agent by the terms hereof may be exercised by the Required Banks.

Resignation by the Agent. The Agent may resign from the ------------------------ performance of all its functions and duties hereunder at any time by giving 30 Business Days' prior written notice to each Borrower, Resources Parent and the Banks. Such resignation shall take effect upon the expiration of such 30 Business Day period or upon the earlier appointment of a successor. Upon any such resignation, the Required Banks shall appoint a successor Agent who shall be satisfactory to the Borrowers and Resources Parent and shall be an incorporated bank or trust company. In the event no such successor shall have been so appointed, then any notifica- tionnotification, demand or other communication required or permitted to be given by the Agent on behalf of the Banks to the Borrowers hereunder shall be sufficiently given if given by the Required Banks, and any notification, demand, other communication, document, statement, other paper or payment required to be made, given or furnished by PPL, Finance Co. or Resources Parent to the Agent for distribution to the Banks shall be sufficiently made, given or furnished if made, given or furnished by PPL, Finance Co. or ResourcesParent, as applicable, directly to each Bank entitled thereto and, in the case of payments, in the amount to which each such Bank is entitled from the applicable Borrower. All powers spec- ifically specifically delegated to the Agent by the terms hereof may be exercised by the Required Banks.

Resignation by the Agent. The Agent may resign from the performance ----------------------------- of all its functions and duties hereunder at any time by giving 30 Business Days' prior written notice to each the Borrower, Resources Parent and the Banks. Such resignation shall take effect upon the expiration of such 30 Business Day period or upon the earlier appointment of a successor. Upon any such resignation, the Required Banks shall appoint a successor Agent who shall be satisfactory to the Borrowers Borrower and Resources Parent and shall be an incorporated bank or trust company. In the event no such successor shall have been so appointed, then any notifica- tionnotification, demand or other communication required or permitted to be given by the Agent on behalf of the Banks to the Borrowers hereunder Borrower shall be sufficiently given if given by the Required Banks, and any notification, demand, other communication, document, statement, other paper or payment required to be made, given or furnished by PPL, Finance Co. or Resources Parent to the Agent for distribution to the Banks shall be sufficiently made, given or furnished if made, given or furnished by PPL, Finance Co. or ResourcesParent, as applicable, directly to each Bank entitled thereto and, in the case of payments, in the amount to which each such Bank is entitled from the applicable Borrower. All powers spec- ifically specifically delegated to the Agent by the terms hereof may be exercised by the Required Banks.

Resignation by the Agent. The Agent may resign from the performance ------------------------ of all its functions and duties hereunder at any time by giving 30 Business Days' prior written notice to each the Borrower, Resources Parent and the Banks. Such resignation shall take effect upon the expiration of such 30 Business Day period or upon the earlier appointment of a successor. Upon any such resignation, the Required Banks shall appoint a successor Agent who shall be satisfactory to the Borrowers Borrower and Resources Parent and shall be an incorporated bank or trust company. In the event no such successor shall have been so appointed, then any notifica- tionnotification, demand or other communication required or permitted to be given by the Agent on behalf of the Banks to the Borrowers hereunder Borrower shall be sufficiently given if given by the Required Banks, and any notification, demand, other communication, document, statement, other paper or payment required to be made, given or furnished by PPL, Finance Co. Borrower or Resources Parent to the Agent for distribution to the Banks shall be sufficiently made, given or furnished if made, given or furnished by PPL, Finance Co. Borrower or ResourcesParent, as applicable, directly to each Bank entitled thereto and, in the case of payments, in the amount to which each such Bank is entitled from the applicable Borrower. All powers spec- ifically specifically delegated to the Agent by the terms hereof may be exercised by the Required Banks.