Common use of Resignation of Agents Clause in Contracts

Resignation of Agents. Agent may resign (in its capacity as agent, collateral agent, or both) at any time by notifying the Holders and the Company. Upon any such resignation, the Majority Holders shall have the right, in consultation with the Company, to appoint a successor. If no successor shall have been so appointed by the Majority Holders and shall have accepted such appointment within 30 days after the retiring the agent gives notice of its resignation, then the retiring agent may, upon not less than ten days’ notice, on behalf of the Holders, appoint a successor agent or collateral agent, as the case may be, or confer all the rights of the agent on the Majority Holders. Upon the acceptance of its appointment as the agent or collateral agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring (or retired) agent and the retiring agent shall be discharged from its duties and obligations hereunder. The fees payable by the Company to a successor agent or collateral agent shall be the same as those payable to its predecessor unless otherwise agreed between the Company and such successor. After the Agent’s resignation hereunder, the provisions of this Section shall continue in effect for its benefit in respect of any actions taken or omitted to be taken by it while it was acting as Agent.

Resignation of Agents. Subject to the appointment and acceptance of a successor Agent as provided in this Section 11.06, any Agent may resign (in its capacity as agent, collateral agent, or both) at any time by notifying the Holders Lenders, the Issuing Bank and the CompanyBorrower. Upon any such resignation, the Majority Holders Lenders shall have the right, in consultation with and upon the Companyapproval of the Borrower (so long as no Event of Default has occurred and is continuing), which approval shall not be unreasonably withheld, to appoint a successor. If no successor shall have been so appointed by the Majority Holders Lenders and shall have accepted such appointment within 30 days after the retiring the agent Agent gives notice of its resignation, then the retiring agent Agent may, upon not less than ten days’ notice, on behalf of the HoldersLenders and the Issuing Bank, appoint a successor agent or collateral agentAgent which shall be a bank with an office in New York, as the case may beNew York, or confer all the rights an Affiliate of the agent on the Majority Holdersany such bank. Upon the acceptance of its appointment as the agent or collateral agent Agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring (or retired) agent Agent, and the retiring agent Agent shall be discharged from its duties and obligations hereunder. The fees payable by the Company to a successor agent or collateral agent shall be the same as those payable to its predecessor unless otherwise agreed between the Company and such successor. After the Agent’s resignation hereunder, the provisions of this Section shall continue in effect for its benefit in respect of any actions taken or omitted to be taken by it while it was acting as Agent.ARTICLE XI and

Resignation of Agents. Subject to the appointment and acceptance of a successor Agent as provided in this Section 11.06, any Agent may resign (in its capacity as agent, collateral agent, or both) at any time by notifying the Holders Lenders, the Issuing Bank and the CompanyBorrower. Upon any such resignation, the Majority Holders Lenders shall have the right, in consultation with and upon the Companyapproval of the Borrower (so long as no Event of Default has occurred and is continuing), which approval shall not be unreasonably withheld, to appoint a successor. If no successor shall have been so appointed by the Majority Holders Lenders and shall have accepted such appointment within 30 days after the retiring the agent Agent gives notice of its resignation, then the retiring agent Agent may, upon not less than ten days’ notice, on behalf of the HoldersLenders and the Issuing Bank, appoint a successor agent or collateral agentAgent which shall be a bank with an office in New York, as the case may beNew York, or confer all the rights an Affiliate of the agent on the Majority Holdersany such bank. Upon the acceptance of its appointment as the agent or collateral agent Agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring (or retired) agent Agent, and the retiring agent Agent shall be discharged from its duties and obligations hereunder. The fees payable by the Company to a successor agent or collateral agent shall be the same as those payable to its predecessor unless otherwise agreed between the Company and such successor. After the Agent’s resignation hereunder, the provisions of this ARTICLE XI and Section 12.03 shall continue in effect for the benefit of such retiring Agent, its benefit sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by it any of them while it was acting as Agent.

Resignation of Agents. The Agent and the Collateral Agent may resign (in its capacity as agent, collateral agent, or both) at any time by notifying the Holders Purchasers and the CompanyParent. Upon any such resignation, the Majority Required Holders shall have the right, in consultation with the CompanyParent, to appoint a successor. If no successor shall have been so appointed by the Majority Required Holders and shall have accepted such appointment within 30 days after the retiring the agent gives notice of its resignation, then the retiring agent may, upon not less than ten days’ notice, on behalf of the HoldersPurchasers, appoint a successor agent Agent or collateral agentCollateral Agent, as the case may be, or confer all the rights of the agent on the Majority Required Holders. Upon the acceptance of its appointment as the agent Agent or collateral agent Collateral Agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring (or retired) agent and the retiring agent shall be discharged from its duties and obligations hereunder. The fees payable by the Company Parent to a successor agent Agent or collateral agent Collateral Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Company Parent and such successor. After the Agent’s resignation or Collateral Agent’s resignation(s) hereunder, the provisions of this Section shall continue in effect for its benefit in respect of any actions taken or omitted to be taken by it while it was acting as the Agent or Collateral Agent.

Resignation of Agents. Subject to the appointment and acceptance of a successor Agent as provided in this Section 11.06, any Agent may resign (in its capacity as agent, collateral agent, or both) at any time by notifying the Holders Lenders and the CompanyBorrower. Upon any such resignation, the Majority Holders Lenders shall have the right, in consultation with and upon the Companyapproval of the Borrower (so long as no Event of Default has occurred and is continuing), which approval shall not be unreasonably withheld, to appoint a successor. If no successor shall have been so appointed by the Majority Holders Lenders and shall have accepted such appointment within 30 thirty (30) days after the retiring the agent Administrative Agent gives notice of its resignationresignation , then the retiring agent Administrative Agent may, upon not less than ten days’ notice, on behalf of the HoldersLenders, appoint a successor agent Administrative Agent, which shall be a bank with an office in New York, New York or collateral agent, as the case may be, or confer all the rights an Affiliate of the agent on the Majority Holdersany such bank. Upon the acceptance of its appointment as the agent or collateral agent Agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring (or retired) agent Agent, and the retiring agent Agent shall be discharged from its duties and obligations hereunder. The fees payable by the Company to a successor agent or collateral agent shall be the same as those payable to its predecessor unless otherwise agreed between the Company 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 Agent, its benefit sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by it any of them while it was acting as Agent.