Common use of Condition to Resignation or Termination Clause in Contracts

Condition to Resignation or Termination. No resignation or (subject to sub-Clause 14.5) termination of the appointment of the Principal Paying Agent shall, however, take effect until a new Principal Paying Agent (which shall be a bank or trust company) has been appointed and no resignation or termination of the appointment of a Paying Agent shall take effect if there would not then be Paying Agents as required by the Conditions or by the rules of any stock exchange for so long as the Notes are then listed on such stock exchange. The Issuer agrees with the Agent that if, by the day falling 7 days before the expiry of any notice, the Issuer has not appointed a successor Agent then the Agent shall be entitled, on behalf of the Issuer, to appoint in its place as a successor Agent, a reputable financial institution of good standing on terms approved by the Trustee. The Agents shall not be responsible for any costs occasioned by termination or resignation (which costs shall be borne by the Issuer).

Condition to Resignation or Termination. No resignation or (subject to sub-Clause 14.517.5) termination of the appointment of the Principal Paying Agent, the Registrar, or the Transfer Agent shall, however, shall take effect until a new Principal Paying Agent, the Registrar, or, as the case may be, Transfer Agent (which shall be a bank or trust company) has been appointed and no resignation or termination of the appointment of a Paying Agent shall take effect if there would not then be Paying the Agents as required by the Conditions or by Conditions. Notwithstanding the rules of any stock exchange for so long as above, the Notes are then listed on such stock exchange. The Issuer agrees with the each Agent that if, by the day falling 7 ten days before the expiry of any noticenotice referred to above, the Issuer has not appointed a successor Agent replacement Agent, then the relevant Agent shall be entitled, on behalf of entitled to select and the Issuer, to Issuer shall appoint in its place as a successor Agent, a any reputable financial institution of good standing on terms approved by the Trustee. The Agents shall not be responsible for any costs occasioned by termination or resignation (which costs shall be borne by the Issuer).