Common use of Resignation; Successor Collateral Agent Clause in Contracts

Resignation; Successor Collateral Agent. Subject to the appointment and acceptance of a successor Collateral Agent as provided below, the Collateral Agent may resign at any time by giving notice thereof to the Company, the Trustee and the Holders. Upon receipt of such notice, the Company shall appoint a successor Collateral Agent. Upon acceptance by a successor Collateral Agent of an appointment to serve as Collateral Agent hereunder and under the Intercreditor Agreement and the Collateral Documents, such successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, duties and obligations of the retiring Collateral Agent without further act but the retiring Collateral Agent shall continue to have the benefits of the compensation, reimbursement and indemnification set forth in this Indenture and the Collateral Documents. Notwithstanding any Collateral Agent’s resignation, the provisions of this Article 10 shall continue in effect for its benefit with respect to any actions taken or omitted to be taken by it while Collateral Agent. Any successor to Wilmington Trust FSB by merger or acquisition of stock or acquisition of the corporate trust business shall continue to be Collateral Agent hereunder without further act on the part of the parties hereto, unless such successor resigns as provided above.

Resignation; Successor Collateral Agent. Subject to the appointment and acceptance of a successor Collateral Agent as provided below, the Collateral Agent may resign at any time by giving 30 days’ written notice thereof to the Company, the Trustee Loan Parties and the HoldersAdministrative Agent. Upon receipt of such notice, the Company Borrower shall appoint a successor Collateral Agent. Upon acceptance by a successor Collateral Agent of an appointment to serve as Collateral Agent hereunder and under the Intercreditor Agreement and the Collateral other Loan Documents, such successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, duties and obligations of the retiring Collateral Agent without further act but the retiring Collateral Agent shall continue to have the benefits of the compensation, reimbursement and indemnification set forth in this Indenture Agreement and the Collateral other Loan Documents. Notwithstanding any Collateral Agent’s resignation, the provisions of this Article 10 Agreement shall continue in effect for its benefit with respect to any actions taken or omitted to be taken by it while Collateral Agent. Any successor to Wilmington Trust FSB the Collateral Agent by merger or acquisition of stock or acquisition of all or substantially all of the corporate trust business shall continue to be Collateral Agent hereunder without further act on the part of the parties hereto, unless such successor resigns as provided above. A retiring or removed Collateral Agent shall have no liability or responsibility for the action or inaction of any successor Collateral Agent.

Resignation; Successor Collateral Agent. Subject to the appointment and acceptance of a successor Collateral Agent as provided below, the Collateral Agent may resign at any time by giving written notice thereof to the CompanyIssuer, the Trustee and the Holders. Upon receipt of such notice, the Company Issuer shall appoint a successor Collateral Agent. Upon acceptance by a successor Collateral Agent of an appointment to serve as Collateral Agent hereunder and under the Intercreditor Agreement and the Collateral Documents, such successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, duties and obligations of the retiring Collateral Agent without further act but the retiring Collateral Agent shall continue to have the benefits of the compensation, reimbursement and indemnification set forth in this Indenture and the Collateral Documents. Notwithstanding any Collateral Agent’s resignation, the provisions of this Article 10 shall continue in effect for its benefit with respect to any actions taken or omitted to be taken by it while Collateral Agent. Any successor to Wilmington Trust FSB the Collateral Agent by merger or acquisition of stock or acquisition of the corporate trust business shall continue to be Collateral Agent hereunder without further act on the part of the parties hereto, unless such successor resigns as provided above.

Resignation; Successor Collateral Agent. Subject to the appointment and acceptance of a successor Collateral Agent as provided below, the Collateral Agent may resign at any time by giving written notice thereof to the Company, the Trustee and the Holders. Upon receipt of such notice, the Company shall appoint a successor Collateral AgentAgent that shall satisfy the criteria for a replacement Trustee as set forth in Section 7.10 hereof. Upon acceptance by a successor Collateral Agent of an appointment to serve as Collateral Agent hereunder and under the Intercreditor Agreement and the Collateral Documents, such successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, duties and obligations of the retiring Collateral Agent without further act but the retiring Collateral Agent shall continue to have the benefits of the compensation, reimbursement and indemnification set forth in this Indenture and the Collateral Documents. Notwithstanding any Collateral Agent’s resignation, the provisions of this Article 10 X shall continue in effect for its benefit with respect to any actions taken or omitted to be taken by it while Collateral Agent. Any successor to Wilmington Trust FSB the Collateral Agent by merger or acquisition of stock or acquisition of the corporate trust business shall continue to be Collateral Agent hereunder without further act on the part of the parties hereto, unless such successor resigns as provided above.

Resignation; Successor Collateral Agent. Subject to the appointment and acceptance of a successor Collateral Agent as provided belowin this subsection, the Collateral Agent may resign at any time by giving notice thereof to notifying the Company, the Trustee Agents and the Holders. Upon receipt of such notice, the Company shall appoint a successor Collateral AgentBorrower. Upon acceptance by a successor Collateral Agent of an its appointment to serve as Collateral Agent hereunder and under the Intercreditor Agreement and the Collateral Documentsby a successor, such successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties and obligations of the retiring Collateral Agent without further act but hereunder, and the retiring Collateral Agent shall continue be discharged from its duties and obligations hereunder. The fees payable by the Borrowers to have a successor Collateral Agent shall be the benefits of same as those payable to its predecessor unless otherwise agreed by the compensation, reimbursement Borrowers and indemnification set forth in this Indenture and such successor. After the Collateral Documents. Notwithstanding any Collateral Agent’s resignationresignation hereunder, the provisions of Section 11 and this Article 10 Section 12 shall continue in effect for the benefit of such retiring Collateral Agent, its benefit with sub-agents and their respective Affiliates in respect to of any actions taken or omitted to be taken by it any of them while the retiring Collateral Agent was acting as Collateral Agent. Any successor Subject to Wilmington Trust FSB by merger or acquisition of stock or acquisition of Section 12(d), the corporate trust business shall continue Collateral Agent hereby agrees to be Collateral Agent hereunder without further act on bound by the part terms and provisions of the parties hereto, unless such successor resigns as provided aboveall Loan Documents applicable to it.

Resignation; Successor Collateral Agent. Subject to the appointment and acceptance of a successor Collateral Agent as provided below, the Collateral Agent may resign at any time by giving notice thereof to the Company, the Trustee and the Holders. Upon receipt of such notice, the Company shall appoint a successor Collateral Agent. Upon acceptance by a successor Collateral Agent of an appointment to serve as Collateral Agent hereunder and under the Intercreditor Agreement and the Collateral DocumentsAgreements, such successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, duties and obligations of the retiring Collateral Agent without further act but the retiring Collateral Agent shall continue to have the benefits of the compensation, reimbursement and indemnification set forth in this Indenture and the Collateral DocumentsAgreements. Notwithstanding any Collateral Agent’s resignation, the provisions of this Article 10 shall continue in effect for its benefit with respect to any actions taken or omitted to be taken by it while Collateral Agent. Any successor to Wilmington Trust FSB by merger or acquisition of stock or acquisition of the corporate trust business shall continue to be Collateral Agent hereunder without further act on the part of the parties hereto, unless such successor resigns as provided above.