Common use of Resignation of the Security Agent Clause in Contracts

Resignation of the Security Agent. (a) The Security Agent may resign and appoint one of its Affiliates acting through an office in the United Kingdom as successor by giving notice to the Finance Parties. (b) Alternatively the Security Agent may resign by giving notice to the Finance Parties, in which case the Majority Lenders, until the Discharge Date (after consultation with the Borrower) may appoint a successor Security Agent. (c) If the Majority Lenders have not appointed a successor Security Agent in accordance with Clause 29.10(b) within 30 days after notice of resignation was given, the Security Agent (after consultation with the Borrower) may appoint a successor Security Agent (acting through an office in the United Kingdom). (d) The retiring Security Agent shall make available to its successor such documents and records and provide such assistance as its successor may reasonably request for the purposes of performing its functions as Security Agent under the Finance Documents. (e) The resignation notice of the Security Agent shall only take effect upon the appointment of a successor. (f) Upon the appointment of a successor, the retiring Security Agent shall be discharged from any further obligation in respect of the Finance Documents but shall remain entitled to the benefit of this Clause 29. Its successor 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. (g) After consultation with the Borrower, the Majority Lenders, until the Discharge Date, may, by notice to the Security Agent, require it to resign in accordance with Clause 29.10(b). In this event, the Security Agent shall resign in accordance with Clause 29.10(b).

Resignation of the Security Agent. (a) The Security Agent may resign and appoint one of its Affiliates acting through an office in the United Kingdom as successor by giving notice to the Finance PartiesPrimary Creditors and the Company. (b) Alternatively the Security Agent may resign by giving 30 days' notice to the Finance PartiesPrimary Creditors and the Company, in which case the Majority Lenders, until Super Senior Creditors and the Discharge Date (after consultation with the Borrower) Required Pari Passu Creditors may appoint a successor Security Agent. (c) If the Majority Lenders Super Senior Creditors and the Required Pari Passu Creditors have not appointed a successor Security Agent in accordance with Clause 29.10(bparagraph (b) above within 30 20 days after notice of resignation was given, the retiring Security Agent (after consultation with the BorrowerCreditor Representatives and the Hedge Counterparties) may appoint a successor Security Agent (acting through an office in the United Kingdom)Agent. (d) The retiring Security Agent shall shall, at its own cost, make available to its the successor Security Agent such documents and records and provide such assistance as its the successor Security Agent may reasonably request for the purposes of performing its functions as Security Agent under the Finance Debt Documents. (e) The Security Agent's resignation notice of the Security Agent shall only take effect upon (i) the appointment of a successor and (ii) the transfer of all the Security Property to that successor. (f) Upon the appointment of a successor, the retiring Security Agent shall be discharged from any further obligation in respect of the Finance Debt Documents (other than its obligations under paragraph (d) above) but shall remain entitled to the benefit of this Clause 2917 and Clause 21.1 (Indemnity to the Security Agent) (and any Security Agent fees for the account of the retiring Security Agent shall cease to accrue from (and shall be payable on) that date). Its Any successor and each of the other Parties shall have the same rights and obligations amongst themselves as they would have had if such that successor had been an original Party. (g) After consultation with the Borrower, the Majority Lenders, until the Discharge Date, may, by notice to the Security Agent, require it to resign in accordance with Clause 29.10(b). In this event, the Security Agent shall resign in accordance with Clause 29.10(b).

Resignation of the Security Agent. (a) The Security Agent may resign and appoint one of its Affiliates acting through an office in the United Kingdom as successor by giving notice to the Finance PartiesSenior Creditors and the Company. (b) Alternatively the Security Agent may resign by giving 30 days' notice to the Finance PartiesSenior Creditors and the Company, in which case the Majority Lenders, until the Discharge Date (after Instructing Creditors(after consultation with the BorrowerCompany) may appoint a successor Security Agent. (c) If the Majority Lenders Instructing Creditors have not appointed a successor Security Agent in accordance with Clause 29.10(bparagraph (b) above within 30 40 days after notice of resignation was given, the retiring Security Agent (after consultation with the BorrowerAgent) may appoint a successor Security Agent (acting through an office in the United Kingdom)Agent. (d) The retiring Security Agent shall shall, at its own cost, make available to its the successor Security Agent such documents and records and provide such assistance as its the successor Security Agent may reasonably request for the purposes of performing its functions as Security Agent under the Finance Debt Documents. The Company shall, within three Business Days of demand, reimburse the retiring Security Agent for all costs and expenses (including legal fees) properly incurred by it in making available such records and documents and providing such assistance. (e) The Security Agent's resignation notice of the Security Agent shall only take effect upon upon: (i) the appointment of a successor; and (ii) the transfer of all the Security Property to that successor. (f) Upon the appointment of a successor, the retiring Security Agent shall be discharged from any further obligation in respect of the Finance Debt Documents but shall remain entitled to the benefit (other than its obligations under paragraph (b) of this Clause 29. Its successor 18.25 (Release of Transaction Security 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. (g) After consultation with the Borrower, the Majority Lenders, until the Discharge Date, may, by notice to the Security Agent, require it to resign in accordance with Clause 29.10(b). In this event, the Security Agent shall resign in accordance with Clause 29.10(b).’s rights) and paragraph

Resignation of the Security Agent. ‌ (a) The Security Agent may resign and appoint one of its Affiliates (acting through an office in the United Kingdom Kingdom) as successor by giving notice to the Finance PartiesSenior Creditors and the Parent. (b) Alternatively the Security Agent may resign by giving 30 days’ notice to the Finance PartiesSenior Creditors and the Parent, in which case the Majority Lenders, until the Discharge Date (after consultation with the Borrower) may appoint a successor Security Agent. (c) If the Majority Lenders have not appointed a successor Security Agent in accordance with Clause 29.10(b) within 30 days after notice of resignation was given, the Security Agent (after consultation with the Borrower) Instructing Group may appoint a successor Security Agent (acting through an office in the United Kingdom). (c) If the Instructing Group has not appointed a successor Security Agent in accordance with paragraph (b) above within 20 days after notice of resignation was given, the retiring Security Agent (after consultation with the Agent and the Hedge Counterparties) may appoint a successor Security Agent. (d) The retiring Security Agent shall shall, at its own cost make available to its the successor Agent such documents and records and provide such assistance as its the successor Security Agent may reasonably request for the purposes of performing its functions as Security Agent under the Finance Debt Documents. (e) The Security Agent’s resignation notice of the Security Agent shall only take effect upon upon: (i) the appointment of a successor; and (ii) the transfer of all the Security Property to that successor. (f) Upon the appointment of a successor, the retiring Security Agent shall be discharged from any further obligation in respect of the Finance Debt Documents but shall remain entitled to the benefit (other than its obligations under paragraph (b) of this Clause 29. Its successor 18.24 (Winding up of trust) 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. (g) After consultation with the Borrower, the Majority Lenders, until the Discharge Date, may, by notice to the Security Agent, require it to resign in accordance with Clause 29.10(b). In this event, the Security Agent shall resign in accordance with Clause 29.10(b).paragraph

Resignation of the Security Agent. (a) The Security Agent may resign and appoint one of its Affiliates acting through an office in the United Kingdom as successor by giving notice to the Finance Parties. (b) Alternatively the Security Agent may resign by giving notice to the Finance Parties, in which case the Majority Lenders, until the Discharge Date (after consultation with the Borrower) may appoint a successor Security Agent. (c) If the Majority Lenders have not appointed a successor Security Agent in accordance with Clause 29.10(bparagraph (b) above within 30 days after notice of resignation was given, the Security Agent (after consultation with the Borrower) may appoint a successor Security Agent (acting through an office in the United Kingdom). (d) The retiring Security Agent shall make available to its successor such documents and records and provide such assistance as its successor may reasonably request for the purposes of performing its functions as Security Agent under the Finance Documents. (e) The resignation notice of the Security Agent shall only take effect upon the appointment of a successor. (f) Upon the appointment of a successor, the retiring Security Agent shall be discharged from any further obligation in respect of the Finance Documents but shall remain entitled to the benefit of this Clause 29. Its successor 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. (g) After consultation with the Borrower, the Majority Lenders, until the Discharge Date, may, by notice to the Security Agent, require it to resign in accordance with Clause 29.10(b)paragraph (b) above. In this event, the Security Agent shall resign in accordance with Clause 29.10(b)paragraph (b) above.