Common use of Resignation of Bank Clause in Contracts

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 reasonable discretion.

Resignation of Bank. (a) Bank shall have the right to resign as Bank hereunder upon thirty (30) days 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 reasonable sole discretion.

Resignation of Bank. (a) Bank shall have the right to resign as Bank hereunder upon thirty (30) days days’ prior written notice to Debtor Borrower and Secured PartyAdministrative Agent, and in the event of such resignation, Debtor Borrower shall appoint a successor bank Bank which must be an Eligible Institution (as defined below) and be approved by Secured Party Institution. Notwithstanding the foregoing, Bank may resign from this Agreement immediately upon written notice to the other parties in its reasonable discretionthe event of suspected fraud or other illegal activity in connection with the Accounts or this Agreement.

Resignation of Bank. (a) Bank shall have the right to resign as Bank hereunder upon thirty (30) days 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 reasonable sole discretion.