Common use of Resignation of Warrant Agent Clause in Contracts

Resignation of Warrant Agent. The Warrant Agent may resign its duties and be discharged from all further duties and liabilities hereunder after giving thirty (30) days' notice in writing to the Company; provided that such shorter notice may be given as the Company shall accept as sufficient. In the event the office of the Warrant Agent shall become vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing a new Warrant Agent hereunder in place of the Warrant Agent vacating office. If the Company fails for a period of ten (10) days in making such appointment then the registered holder of any of the Warrants may petition any court of competent jurisdiction for the appointment of a new Warrant Agent. On any new appointment, the new Warrant Agent shall be vested with the same powers, rights, duties, responsibilities and immunities as if it had been originally named as Warrant Agent without any further assurance, conveyance, act or deed; but if for any reason it becomes necessary or expedient to execute any further assurance, conveyance, act or deed, the same shall be done at the expense of the Company and shall be legally and validly executed by the former Warrant Agent. Subject to the foregoing provisions, any corporation into which any Warrant Agent or any new Warrant Agent may be merged or with which it may be consolidated or any corporation resulting from any merger or consolidation to which any Warrant Agent shall be a party shall be the successor Warrant Agent under this Agreement without any further act.

Resignation of Warrant Agent. The Warrant Agent may resign its duties and be discharged from all further duties and liabilities hereunder after giving thirty (30) 30 days' notice in writing to the Company; provided that such shorter notice may be given as the Company shall accept as sufficient. In the event the office of the Warrant Agent shall become vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing a new Warrant Agent hereunder in place of the Warrant Agent vacating the office. If the Company fails for a period of ten (10) 10 days in making such appointment appointment, then the registered holder of any of the Warrants may petition any court of competent jurisdiction Jurisdiction for the appointment of a new Warrant Agent. On any new appointment, the new Warrant Agent shall be vested with the same powers, rights, duties, responsibilities and immunities as if it had been originally named as Warrant Agent without any further assurance, conveyance, act or deed; but if for any reason it becomes necessary or expedient to execute any further assurance, conveyance, act or deed, the same shall be done at the expense of the Company and may and shall be legally and validly executed by the former Warrant Agent. Subject to the foregoing provisionsprovision, any corporation into which any Warrant Agent or any new Warrant Agent may be merged or with which it may be consolidated or any corporation resulting from any merger or consolidation to which any Warrant Agent shall be a party shall be the successor Warrant Agent under this Agreement without any further act.