Resignation of Bank. (a) Bank shall have the right to resign as Bank hereunder upon thirty (30) days’ prior written notice to Debtor and Secured Party, and in the event of such resignation, Debtor shall appoint a successor bank which must be an Eligible Institution (as defined below) and be approved by Secured Party in its sole discretion.
Resignation of Bank. The Bank may resign at any time upon giving 90 Days’ prior written notice of such resignation to ArbiterPay. Such resignation will take effect upon the appointment of a successor pursuant to section 28 below, whereupon all powers, rights and obligations of the resigning Bank under this Agreement shall cease and terminate.
Resignation of Bank. The Bank may resign from its obligations hereunder, upon thirty (30) days’ prior written notice to the other parties to this Agreement. Any funds remaining in the Account upon the resignation of the Bank shall be transferred in accordance with the instructions received from the Debtor to a Project Account (as defined in the Credit Agreement) or another Local Account (as defined in the Credit Agreement) subject to a Blocked Account Agreement (as defined in the Credit Agreement) or, during the effectiveness of a Notice of Block, in accordance with the instructions received from the Collateral Agent. In the event the Bank has not received such instructions from the Debtor or the Collateral Agent, as applicable, prior to the effective date of the Bank’s resignation pursuant to this Section 4.10, the Bank shall transfer the funds in the Account to [insert details of the Revenue Account] and deliver to the Collateral Agent or its designee all other Blocked Account Collateral. The Bank’s resignation shall not be effective until the transfers and deliveries have occurred in accordance with this Section 4.10.
Resignation of Bank. (a) Bank shall have the right to resign as Bank hereunder upon thirty (30) days’ prior written notice to CCL, Manager and Trustee, and in the event of such resignation, CCL and the Guarantors shall appoint a successor Bank which must be an Eligible Bank. No such resignation by Bank shall become effective until a successor Bank shall have accepted such appointment and executed an instrument by which it shall have assumed all of the rights and obligations of Bank hereunder. If no such successor Bank is appointed within thirty (30) days after receipt of the resigning Bank’s notice of resignation, the resigning Bank may petition a court for the appointment of a successor Bank.
Resignation of Bank. (a) The Central Account Bank shall have the right to resign as the Central Account Bank hereunder upon thirty (30) days’ prior written notice to the Issuers, the Indenture Trustee and the Servicer, and in the event of such resignation, the Issuers shall appoint a successor Central Account Bank which must be an Eligible Bank. No such resignation by the Central Account Bank shall become effective until a successor Central Account Bank shall have accepted such appointment and executed an instrument by which it shall have assumed all of the rights and obligations of the Central Account Bank hereunder. If no such successor Central Account Bank is appointed within thirty (30) days after receipt of the resigning Central Account Bank’s notice of resignation, the resigning Central Account Bank may petition a court for the appointment of a successor Central Account Bank.
Resignation of Bank. BANK may resign upon thirty (30) days written notice to the CONTRACTING PARTIES and shall be fully released from any obligations to perform any further duties imposed upon it. XXXX will transfer all files and records relating to the escrow account to any successing BANK upon receipt of a copy of executed instructions designating such successor.
