Substitution of Escrow Agent. The Escrow Agent may resign by giving no less than 30 Business Days’ prior written notice to the Issuer and the Trustee. Such resignation shall take effect upon the later to occur of (i) delivery of all Escrowed Property maintained by the Escrow Agent hereunder and copies of all books, records, plans and other documents in the Escrow Agent’s possession relating to such funds, or this Agreement, to a successor escrow agent mutually approved by the Issuer and the Trustee (which approvals shall not be unreasonably withheld or delayed) and (ii) the Issuer, the Trustee and such successor escrow agent entering into this Agreement or any written successor agreement no less favorable to the interests of the holders of the Securities and the Trustee than this Agreement. The Escrow Agent shall thereupon be discharged of all obligations under this Agreement and shall have no further duties, obligations or responsibilities in connection herewith, except to the limited extent set forth in Section 4. If a successor escrow agent has not been appointed or has not accepted such appointment within 30 Business Days after notice of resignation is given to the Issuer, the Escrow Agent may apply to a court of competent jurisdiction for the appointment of a successor escrow agent.
Substitution of Escrow Agent. (i) The Company shall have the right to cause Escrow Agent to be relieved of its duties hereunder and to select a substitute escrow agent to serve hereunder (provided such substitute escrow agent is an Acceptable Replacement Escrow Agent), upon the expiration of thirty (30) days following delivery of written notice of substitution to Escrow Agent and the Trustee. Upon selection of such substitute escrow agent, such substitute escrow agent and the parties hereto other than the substituted escrow agent shall enter into an agreement substantially identical to this Agreement and, thereafter, Escrow Agent shall be relieved of its duties and obligations to perform hereunder, except that Escrow Agent shall transfer to the substitute escrow agent upon request therefor all funds and Marketable Securities maintained by Escrow Agent hereunder and copies of all books, records, plans and other documents in Escrow Agent's possession relating to such funds or Marketable Securities or this Agreement.
Substitution of Escrow Agent. The Escrow Agent (x) may resign by giving no less than thirty (30) days’ prior written notice to the Escrow Issuer and the Trustee or (y) may be removed, with or without cause, by the Trustee and Escrow Issuer at any time after giving not less than thirty (30) days’ prior joint written notice to the Escrow Agent. Each such resignation or removal under clause (x) or clause (y) hereof shall take effect upon the later to occur of (i) delivery of all Senior Secured Escrowed Property maintained by the Escrow Agent hereunder and copies of all books, records, plans and other documents in the Escrow Agent’s possession relating to such funds, or this Agreement that are necessary to perform obligations under this Agreement, in each case to a successor escrow agent mutually approved by the Escrow Issuer and the Trustee (which approvals shall not be unreasonably withheld or delayed) and (ii) the Escrow Issuer, the Trustee and such successor escrow agent entering into this Agreement or any written successor agreement no less favorable in any material respect to the interests of the Trustee than this Agreement. The Escrow Agent shall thereupon be discharged of all obligations under this Agreement and shall have no further duties, obligations or responsibilities in connection herewith, except to the limited extent set forth in Section 4. If a successor escrow agent has not been appointed or has not accepted such appointment within thirty (30) days after delivery of such notice of resignation or removal, the Escrow Agent may apply to a court of competent jurisdiction for the appointment of a successor escrow agent.
Substitution of Escrow Agent. If the Company (i) gives notice of removal to the Escrow Agent (as defined in the Escrow Agreement) or (ii) receives a notice of resignation from the Escrow Agent, the Company will promptly provide notice of such removal or resignation to the Purchasers. If the Escrow Agent is removed or resigns as Escrow Agent under the Escrow Agreement, the Company agrees to appoint a nationally recognized banking or financial institution, having a trust office in Houston, Texas or New York, New York, as the successor escrow agent under the Escrow Agreement.
Substitution of Escrow Agent. The Escrow Agent may resign by giving not less than 30 days' prior written notice to the Leasing Company and the Senior Note Trustee or, after the Senior Note Discharge Date, to the Convertible Note Trustee. Such resignation shall take effect upon the later to occur of (i) delivery of all funds and Eligible Cash Equivalents maintained by the Escrow Agent hereunder and copies of all books, records, plans and other documents in the Escrow Agent's possession relating to such funds or Eligible Cash Equivalents or this Agreement to a successor Escrow Agent mutually approved by the Leasing Company and the Senior Note Trustee or, after the Senior Note Discharge Date,
Substitution of Escrow Agent. The Escrow Agent, or any successor to it hereafter appointed, may at any time resign by giving notice in writing to the Board, the Company and Xx. Xxxx and shall be discharged of its duties hereunder upon the appointment of a successor Escrow Agent as hereinafter provided. In the event of any such resignation, a successor Escrow Agent, who shall be a shall be appointed by the Board. Any such successor Escrow Agent shall deliver to the Board, the Company and Xx. Xxxx a written instrument accepting such appointment hereunder, and thereupon it shall succeed to all the rights and duties of the Escrow Agent hereunder.
Substitution of Escrow Agent. Any Escrow Agent serving hereunder may resign at any time upon 30 days' prior notice to the Parties, whereupon the Parties shall appoint a successor. If the Parties fail to appoint a successor Escrow Agent within thirty (30) days of the date of resignation of the resigning Escrow Agent, the resigning Escrow Agent shall appoint a new Escrow Agent. Upon delivery of the Escrow Fund in its possession to the new Escrow Agent the former Escrow Agent shall have no further obligation hereunder.
Substitution of Escrow Agent. The Escrow Agent may resign by giving not less than 30 days' prior written notice to the Leasing Company and the Senior Note Trustee or, after the Senior Note Discharge Date, to the Convertible Note Trustee. Such resignation shall take effect upon the later to occur of (i) delivery of all funds and Eligible Cash Equivalents maintained
Substitution of Escrow Agent. If, for any reason, Escrow Agent is unable or unwilling to continue to act as Escrow Agent, or if Landlord desires to substitute Escrow Agent for any reason, then Landlord, acting by and through its County Administrator, in his or her sole discretion, may appoint another entity to serve as escrow agent under this Escrow Agreement, at the Landlord's sole expense. The successor escrow agent shall execute and deliver to Landlord, Tenant, and Escrow Agent an instrument accepting such appointment, whereupon the successor escrow agent shall, without further acts, be vested with all rights, powers, and duties of the Escrow Agent set forth in this Escrow Agreement, as may be amended. Escrow Agent shall act in accordance with written instructions from Landlord as to the transfer of the Escrow Amount to the successor escrow agent. Reasonable amendments may be made to this Escrow Agreement to the extent necessary to effectuate the appointment of a successor escrow agent and the acceptance of such appointment. The County Administrator is authorized to negotiate and execute such amendments on behalf of Landlord.
Substitution of Escrow Agent. Buyer and Seller reserve the right, at any time and from time to time, to substitute a new escrow agent in place of Escrow Agent, subject to mutual agreement between Buyer and Seller.
