Deed Administrators’ resignation and replacement Clause Samples

Deed Administrators’ resignation and replacement. Any Deed Administrator may resign at any time by giving not less than 28 days’ prior written notice to the Deed Company unless that resignation would result in there being no remaining Deed Administrator in which event the Deed Administrator must: (a) convene a meeting of the Deed Company Creditors in accordance with Clause 15 (Meetings of creditors) for the purpose of nominating a replacement deed administrator; (b) assign to a replacement deed administrator nominated by the Deed Company Creditors the Deed Administrators’ rights, title and benefit under this Deed; and (c) do all things reasonably necessary to effect the assignment referred to in clause (b) above.