Common use of Appointment and Removal Clause in Contracts

Appointment and Removal. Upon one (1) Business Day’s prior written notice to any Company by the Security Agent that the Security Agent is exercising its rights under this Clause 16.1 (Appointment and Removal), following the occurrence and during the continuance of an Event of Default, subject to the terms of the ABL/Term Loan Intercreditor Agreement, the Security Agent may by deed or otherwise (acting through an authorised officer of the Security Agent):

Appointment and Removal. Upon one (1) Business Day’s prior written notice to any Company the Chargor by the Security Agent that the Security Agent is exercising its rights under this Clause 16.1 (Appointment and Removal)12.1, following the occurrence and during the continuance of an Event of Default, subject to the terms of the ABL/Term Loan Intercreditor Agreement, the Security Agent may by deed or otherwise (acting through an authorised officer of the Security Agent):