Common use of Resignation of the Agent; Successor Agent Clause in Contracts

Resignation of the Agent; Successor Agent. The Agent may resign as the Agent upon 20 days' notice to the Lenders and the Company. If the Agent shall resign as Agent under this Agreement and the other Loan Documents, the Required Lenders shall appoint from among the Lenders during such 20-day period a successor Agent which is a bank or a trust company, whereupon such successor agent shall succeed to the rights, powers and duties of the Agent, and the term "Agent" shall mean such successor Agent effective upon its appointment, and the resigning Agent's rights, powers and duties as the Agent shall be terminated, without any other or further act or deed on the part of such former Agent or any of the parties to this Agreement. If the Required Lenders are not able to appoint a successor Agent during such 20- day period, then the Required Lenders shall carry out the duties of Agent under the provisions of this Agreement and the other Loan Documents until a successor Agent is appointed. After the resignation of the Agent hereunder, the provisions of this Section 9 and of Sections 12.2 and 12.3 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Agent under this Agreement.

Resignation of the Agent; Successor Agent. The Agent may resign as the Agent upon 20 10 days' notice to the Lenders Lenders, the Guarantors and the Company. If Upon the Agent shall resign as Agent under this Agreement and resignation of the other Loan DocumentsAgent, the Required Lenders shall appoint from among the Lenders during such 20-day period or a third party appointed by a majority of the Lenders a successor Agent which is a bank for the Lenders subject to prior approval by the Company (such approval not to be unreasonably withheld or a trust companydelayed), whereupon such successor agent shall succeed to the rights, powers and duties of the Agent, and the term "Agent" shall mean include such successor Agent agent effective upon its appointment, and the resigning Agent's rights, powers and duties as the Agent shall be terminated, without any other or further act or deed on the part of such former Agent or any of the parties to this Agreement. If the Required Lenders are not able ; provided, that no failure to appoint such a successor Agent during such 20- day period, then agent shall restrict or delay the Required Lenders shall carry out Agent's resignation hereunder or the duties termination of Agent under the provisions of this Agreement and the other Loan Documents until a successor Agent is appointedAgent's responsibilities hereunder. After the resignation of the Agent hereunder, the provisions of this Section 9 and of Sections 12.2 and 12.3 8 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Agent under this Agreement.

Resignation of the Agent; Successor Agent. The Agent may resign as the Agent upon 20 days' notice to the Lenders and the Company. If the Agent shall resign as Agent under this Agreement and the other Loan Documents, the Required Lenders shall appoint from among the Lenders during such 20-day period a successor Agent which is a bank or a trust company, whereupon such successor agent shall succeed to the rights, powers and duties of the Agent, and the term "Agent" shall mean such successor Agent effective upon its appointment, and the resigning Agent's rights, powers and duties as the Agent shall be terminated, without any other or further act or deed on the part of such former Agent or any of the parties to this Agreement. If the Required Lenders are not able to appoint a successor Agent during such 20- 20-day period, then the Required Lenders shall carry out the duties of Agent under the provisions of this Agreement and the other Loan Documents until a successor Agent is appointed. After the resignation of the Agent hereunder, the provisions of this Section 9 and of Sections 12.2 13.2 and 12.3 13.3 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Agent under this Agreement.