Replacement Owner Representative Clause Samples

Replacement Owner Representative. Upon the resignation, death, disability or incapacity of the initial Owner Representative appointed pursuant to Section 9.15(a) above, the Owners will be permitted to appoint a replacement reasonably believed to be capable of carrying out the duties and performing the obligations of the Owner Representative hereunder (which will be subject to the approval of Buyer, such approval not to be unreasonably conditioned, withheld or delayed). This appointment and grant of power and authority by the Owners to the Owner Representative are coupled with an interest, are in consideration of the mutual covenants made in this Agreement, are irrevocable and may not be terminated by the act of any Owner or by operation of Law, whether upon the death or incapacity of any Owner, or by the occurrence of any other event.