Common use of Replacement Procedure Clause in Contracts

Replacement Procedure. If the replacement of any Assigned Person is necessary for any reason, Independent Contractor agrees to submit the names and qualifications of replacement candidates for ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇'▇ approval within [****] following the date on which Independent Contractor (i) becomes aware of such Assigned Person's prospective unavailability or (ii) if applicable, receives a notice from Pershing demanding such replacement. Any replacement Assigned Person agrees to participate in such orientation as Pershing shall determine appropriate. Pershing shall have no obligation to compensate **** Represents material which has been redacted pursuant to a request for confidential treatment pursuant to Rule 406 under the Securities Act of 1933, as amended. Independent Contractor hereunder for any activities (including Services) performed by a replacement Assigned Person during such orientation period. Independent Contractor agrees to use its best efforts to minimize any delay or disruption to Pershing resulting from the replacement or removal of any Assigned Person.

Replacement Procedure. If the replacement of any Assigned Person is necessary for any reason, Independent Contractor agrees to submit the names and qualifications of replacement candidates for ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇'▇ approval within [****] following the date on which Independent Contractor (i) becomes aware of such Assigned Person's prospective unavailability or (ii) if applicable, receives a notice from Pershing demanding such replacement. Any replacement Assigned Person agrees to participate in such orientation as Pershing shall determine appropriate. Pershing shall have no obligation to compensate **** Represents material which has been redacted and filed separately with the Commission pursuant to a request for confidential treatment pursuant to Rule 406 under the Securities Act of 1933, as amended. Independent Contractor hereunder for any activities (including Services) performed by a replacement Assigned Person during such orientation period. Independent Contractor agrees to use its best efforts to minimize any delay or disruption to Pershing resulting from the replacement or removal of any Assigned Person.