Resignation by the Collateral Agent. The Collateral Agent may resign from the performance of all its functions and duties under the Agreement and the other Transaction Documents at any time by giving 5 days’ prior written notice (as provided in the Agreement) to the Debtors and the Secured Parties. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
Appears in 3 contracts
Sources: Securities Purchase Agreement (Accelerated Pharma, Inc.), Securities Purchase Agreement (Accelerated Pharma, Inc.), Securities Purchase Agreement (Accelerated Pharma, Inc.)
Resignation by the Collateral Agent. The Collateral Agent may resign from the performance of all of its functions and duties hereunder and under the U.S. Security Agreement and the other Transaction Documents at any time by giving 5 days15 Business Days’ prior or written notice (as provided in the Agreement) to the Debtors U.S. Borrower and the Secured PartiesCreditors. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses clause (b) and or (c) below.
Appears in 2 contracts
Sources: Credit Agreement (Dole Food Co Inc), Credit Agreement (Dole Food Co Inc)
Resignation by the Collateral Agent. (a) The Collateral Agent may resign from the performance of all its functions and duties under the Agreement and the other Transaction Documents at any time by giving 5 60 days’ ' prior written notice (as provided in the Agreement) to the Debtors Grantor and the Secured PartiesHolders. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c) below.
(b) Upon any such notice of resignation, the Majority Holders shall appoint a successor Collateral Agent hereunder.
Appears in 1 contract
Sources: Security Agreement (Zix Corp)
Resignation by the Collateral Agent. The Collateral Agent may resign from the performance of all of its functions and duties under the this Agreement and the other Transaction Documents at any time by giving 5 days’ 30 Business Days' prior written notice (as provided in the Agreement) to the Debtors each Assignor and the Secured PartiesCreditors. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses clause (b) and or (c) below.
Appears in 1 contract
Sources: Credit Agreement (Eldertrust)