Resignation or Replacement of an Issuing Bank. An Issuing Bank may resign at any time by giving 30 days’ prior written notice to the Administrative Agent, the Borrowers and the Lenders, and an Issuing Bank may be replaced at any time by written agreement among the Borrowers, the Administrative Agent, the replaced Issuing Bank and the successor Issuing Bank, if any. The Administrative Agent shall notify the Lenders of any such resignation or replacement of an Issuing Bank, as the case may be. The notice of resignation of an Issuing Bank shall not affect or impair any Letter of Credit previously issued by such Issuing Bank.
Appears in 2 contracts
Sources: Credit Agreement (Delek US Holdings, Inc.), Credit Agreement (Delek US Holdings, Inc.)