Common use of Rights of the Successor and Retiring Administrative Agents Clause in Contracts

Rights of the Successor and Retiring Administrative Agents. Upon ---------------------------------------------------------- the acceptance of any appointment as Administrative Agent hereunder by a successor Administrative Agent, such successor Administrative Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its duties and obligations hereunder thereafter to be performed. After any retiring Administrative Agent's resignation hereunder as Administrative Agent, the provisions of this Article XII shall ----------- inure to its benefit as to any actions taken or omitted to be taken by it while it was the Administrative Agent hereunder.

Appears in 2 contracts

Samples: Credit Agreement (International Technology Corp), Credit Agreement (International Technology Corp)

Rights of the Successor and Retiring Administrative Agents. Upon ---------------------------------------------------------- the acceptance of any appointment as Administrative Agent hereunder by a successor Administrative Agent, such successor Administrative Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its duties and obligations hereunder thereafter to be performed under this Agreement. After any retiring Administrative Agent 's ’s resignation hereunder as Administrative Agent, the provisions of this Article XII shall ----------- inure to its benefit as to any actions taken or omitted to be taken by it while it was the Administrative Agent hereunder under this Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Watson Pharmaceuticals Inc), Credit Agreement (Watson Pharmaceuticals Inc)

Rights of the Successor and Retiring Administrative Agents. Upon ---------------------------------------------------------- the acceptance of any appointment as Administrative Agent hereunder by a successor Administrative Agent, such successor Administrative Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its duties and obligations hereunder thereafter to be performed as Administrative Agent under this Agreement. After any retiring Administrative Agent's resignation hereunder as Administrative Agent, the provisions of this Article XII XI shall ----------- inure to its benefit as to any actions taken or omitted to be taken by it while it was the Administrative Agent hereunder under this Agreement.

Appears in 1 contract

Samples: Revolving Credit Agreement (Mills Corp)

Rights of the Successor and Retiring Administrative Agents. Upon ---------------------------------------------------------- the acceptance of any appointment as Administrative Agent hereunder by a successor Administrative Agent, such successor Administrative Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its duties and obligations hereunder thereafter to be performed under this Agreement. After any retiring Administrative Agent's resignation hereunder as Administrative Agent, the provisions of this Article XII shall ----------- inure to its benefit as to any actions taken or omitted to be taken by it while it was the Administrative Agent hereunder under this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Watson Pharmaceuticals Inc)

Rights of the Successor and Retiring Administrative Agents. Upon ---------------------------------------------------------- the acceptance of any appointment as Administrative Agent hereunder by a successor Administrative Agent, such successor Administrative Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its duties and obligations hereunder thereafter to be performed as Administrative Agent under this Agreement. After any retiring Administrative Agent 's ’s resignation hereunder as Administrative Agent, the provisions of this Article XII XI shall ----------- inure to its benefit as to any actions taken or omitted to be taken by it while it was the Administrative Agent hereunder under this Agreement.

Appears in 1 contract

Samples: Assignment and Acceptance (Mills Corp)

Rights of the Successor and Retiring Administrative Agents. Upon ---------------------------------------------------------- the acceptance of any appointment as Administrative Agent hereunder by a successor Administrative Agent, such successor Administrative Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its duties and obligations hereunder thereafter to be performed as Administrative Agent under this Agreement. After any retiring Administrative Agent's resignation hereunder as Administrative Agent, the provisions of this Article XII ARTICLE XI shall ----------- inure to its benefit as to any actions taken or omitted to be taken by it while it was the Administrative Agent hereunder under this Agreement.

Appears in 1 contract

Samples: Revolving Credit Agreement (Mills Corp)

Rights of the Successor and Retiring Administrative Agents. Upon ---------------------------------------------------------- the acceptance of any appointment as Administrative Agent hereunder by a successor Administrative Agent, such successor Administrative Agent shall thereupon succeed to and become vested with Credit Agreement all the rights, powers, privileges and duties of the retiring Administrative Agent, Agent and the retiring Administrative Agent shall be discharged from its duties and obligations hereunder thereafter to be performed. After the resignation of any retiring Administrative Agent's resignation hereunder as Administrative Agent Agent hereunder, the provisions of this Article XII shall ----------- inure to its such Persons’ benefit as to any actions taken or omitted to be taken by it while it was the Administrative Agent hereunder.

Appears in 1 contract

Samples: Credit Agreement (NMHG Holding Co)

Rights of the Successor and Retiring Administrative Agents. Upon ---------------------------------------------------------- the acceptance of any appointment as Administrative Agent hereunder by a successor Administrative Agent, such successor Administrative Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent, Agent and the retiring Administrative Agent shall be discharged from its duties and obligations hereunder thereafter to be performed. After the resignation of any retiring Administrative Agent's resignation hereunder as Administrative Agent Agent hereunder, the provisions of this Article XII shall ----------- inure to its such Persons’ benefit as to any actions taken or omitted to be taken by it while it was the Administrative Agent hereunder.

Appears in 1 contract

Samples: Credit Agreement (NMHG Holding Co)