Common use of Document Custodian Resignation and Removal Clause in Contracts

Document Custodian Resignation and Removal. (a) The Document Custodian may be removed, with or without cause, by the Administrative Agent by notice given in writing to the Document Custodian and the Collateral Agent (the “Document Custodian Termination Notice”); provided that notwithstanding its receipt of a Document Custodian Termination Notice, the Document Custodian shall continue to act in such capacity (and shall continue to be entitled to receive fees) until a successor Document Custodian has been appointed, has agreed to act as Document Custodian hereunder, and has received all Related Documents held by the previous Document Custodian. Any such appointment shall be accomplished by written instrument and one original counterpart of such instrument of appointment shall be delivered to the Document Custodian and the successor custodian, with a copy delivered to the Administrative Agent, the Borrower, the Collateral Agent and the Collateral Manager.

Document Custodian Resignation and Removal. (a) The Document Custodian may be removed, with or without cause, by the Administrative Agent by notice given in writing to the Document Custodian and the Collateral Agent (the “Document Custodian Termination Notice”); provided that notwithstanding its receipt of a Document Custodian Termination Notice, the Document Custodian shall continue to act in such capacity (and shall continue to be entitled to receive fees) until a successor Document Custodian has been appointed, has agreed to act as Document Custodian hereunder, and has received all Related Documents held by the previous Document Custodian. Any such appointment shall be accomplished by written instrument and one original counterpart of such instrument of appointment shall be delivered to the Document Custodian and the successor custodian, with a copy delivered to the Administrative Agent, the Borrower, the Collateral Agent and the Collateral Manager.to