Common use of AGENT MAY APPOINT SUCCESSOR Clause in Contracts

AGENT MAY APPOINT SUCCESSOR. If any Agent gives notice of its resignation in accordance with Clause 15.1 (Resignation) and by the tenth day before the expiration of such notice a successor agent has not been duly appointed in accordance with Clause 15.4 (Additional and Successor Agents), such Agent may itself, following such consultation with the Current Issuer as is practicable in the circumstances and with the prior written approval of the Note Trustee and the Current Issuer (provided such failure to appoint was not due to default by the Current Issuer), appoint as its successor agent any reputable and experienced bank or financial institution and give notice of such appointment to the Current Issuer, the Note Trustee, the Current Issuer Cash Manager, the remaining Agents and the Noteholders.

AGENT MAY APPOINT SUCCESSOR. If any Agent gives notice of its resignation in accordance with Clause 15.1 (Resignation) and by the tenth day before the expiration of such notice a successor agent has not been duly appointed in accordance with Clause 15.4 (Additional and Successor Agents), such Agent may itself, following such consultation with the Current Master Issuer as is practicable in the circumstances and with the prior written approval of the Note Trustee and the Current Master Issuer (provided such failure to appoint was not due to default by the Current Master Issuer), appoint as its successor agent any reputable and experienced bank or financial institution and give notice of such appointment to the Current Master Issuer, the Note Trustee, the Current Issuer Cash Manager, the remaining Agents and the Noteholders.

AGENT MAY APPOINT SUCCESSOR. If any Agent gives notice of its resignation in accordance with Clause 15.1 (Resignation) and by the tenth day before the expiration of such notice a successor agent has not been duly appointed in accordance with Clause 15.4 (Additional and Successor Agents), such Agent may itself, following such consultation with the Current Issuer as is practicable in the circumstances and with the prior written approval of the Note Trustee and the Current Issuer (provided such failure to appoint was not due to default by the Current Issuer), appoint as its successor agent any reputable and experienced bank or financial institution and give notice of such appointment to the Current Issuer, the Note Trustee, the Current Issuer Cash ManagerAdministrator, the remaining Agents and the Noteholders.

AGENT MAY APPOINT SUCCESSOR. If any Agent gives notice of its resignation in accordance with Clause 15.1 (Resignation) and by the tenth day before the expiration of such notice a successor agent has not been duly appointed in accordance with Clause 15.4 (Additional and Successor Agents), such Agent may itself, following such consultation with the Current Issuer as is practicable in the circumstances and with the prior written approval of the Note Trustee and the Current Issuer (provided such failure to appoint was not due to default by the Current Issuer), appoint as its successor agent any reputable and experienced bank or financial institution and give notice of such appointment to the Current Issuer, the Note Trustee, the Current Issuer Cash ManagerPML as Administrator, the remaining Agents Agents, the Noteholders and the NoteholdersResidual Certificateholders.

AGENT MAY APPOINT SUCCESSOR. If any Agent gives notice of its resignation in accordance with Clause 15.1 (Resignation) and by the tenth day before the expiration of such notice a successor agent has not been duly appointed in accordance with Clause 15.4 (Additional and Successor Agents), such Agent may itself, following such consultation with the Current Issuer as is practicable in the circumstances and with the prior written approval of the Note Trustee and the Current Issuer (provided such failure to appoint was not due to default by the Current Issuer), appoint as its successor agent any reputable and experienced bank or financial institution and give notice of such appointment to the Current Issuer, the Note Trustee, the Current Issuer Cash ManagerAdministrator, the remaining Agents Agents, the Noteholders and the NoteholdersResidual Certificateholders.

AGENT MAY APPOINT SUCCESSOR. If any Agent gives notice of its resignation in accordance with Clause 15.1 (ResignationRESIGNATION) and by the tenth day before the expiration of such notice a successor agent has not been duly appointed in accordance with Clause 15.4 (Additional and Successor AgentsADDITIONAL AND SUCCESSOR AGENTS), such Agent may itself, following such consultation with the Current Issuer as is practicable in the circumstances and with the prior written approval of the Note Trustee and the Current Issuer (provided such failure to appoint was not due to default by the Current Issuer), appoint as its successor agent any reputable and experienced bank or financial institution and give notice of such appointment to the Current Issuer, the Note Trustee, the Current Issuer Cash Manager, the remaining Agents and the Noteholders.