Successor Administrative Agent and Collateral Agent Sample Clauses

Successor Administrative Agent and Collateral Agent. (a) Administrative Agent shall have the right to resign at any time by giving prior written notice thereof to Lenders and Tronox US and Administrative Agent may be removed at any time with or without cause by an instrument or concurrent instruments in writing delivered to Borrower and Administrative Agent and signed by Requisite Lenders. Administrative Agent shall have the right to appoint a financial institution to act as Administrative Agent and/or Collateral Agent hereunder, subject to the reasonable satisfaction of Tronox US and Requisite Lenders, and Administrative Agent’s resignation shall become effective on the earliest of (i) 45 days after delivery of the notice of resignation (regardless of whether a successor has been appointed or not), unless such date is extended by Administrative Agent in its sole and absolute discretion, (ii) the acceptance of such successor Administrative Agent by Tronox US and Requisite Lenders or (iii) such other date, if any, agreed to by Requisite Lenders. Upon any such notice of resignation or any such removal, if a successor Administrative Agent has not already been appointed by the retiring Administrative Agent, Requisite Lenders shall have the right, subject to the prior written consent of Tronox US, to appoint a successor Administrative Agent. If neither Requisite Lenders nor Administrative Agent have appointed a successor Administrative Agent, Requisite Lenders shall be deemed to have succeeded to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent; provided that, until a successor Administrative Agent is so appointed by Requisite Lenders or Administrative Agent, any collateral security held by Administrative Agent in its role as Collateral Agent on behalf of the Lenders under any of the Collateral Documents shall continue to be held by the retiring Collateral Agent as nominee until such time as a successor Collateral Agent is appointed. Upon the acceptance of any appointment as Administrative Agent hereunder by a successor Administrative Agent, that successor Administrative Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring or removed Administrative Agent and the retiring or removed Administrative Agent shall promptly (i) transfer to such successor Administrative Agent all sums, Securities and other items of Collateral held under the Collateral Documents, together with all records and other doc...
Successor Administrative Agent and Collateral Agent. (a) The Administrative Agent may resign as Administrative Agent and Collateral Agent upon 30 daysnotice to the Lenders with a copy of such notice to the Borrower. If the Administrative Agent resigns under this Agreement, the Required Lenders shall appoint from among the Lenders a successor administrative agent and collateral agent for the Lenders which successor administrative agent shall be consented to by the Borrower at all times other than during the existence of an Event of Default (which consent of the Borrower shall not be unreasonably withheld, conditioned or delayed). If no successor administrative agent is appointed prior to the effective date of the resignation of the Administrative Agent, the Administrative Agent may appoint, after consulting with the Lenders and the Borrower, a successor administrative agent from among the Lenders who shall also succeed to the role of successor collateral agent. Upon the acceptance of its appointment as successor administrative agent hereunder, such successor administrative agent shall succeed to all the rights, powers and duties of the retiring Administrative Agent and the term
Successor Administrative Agent and Collateral Agent. Each of the Administrative Agent and the Collateral Agent may resign as Administrative Agent or Collateral Agent, as the case may be, upon 10 days' notice to the Lenders and the Borrowers. If the Administrative Agent or the Collateral Agent shall so resign, then the Majority Lenders shall appoint from among the Lenders a successor administrative agent or collateral agent, as the case may be, for the Lenders, which successor administrative agent or collateral agent shall be subject to the approval of the Borrowers (which approval shall not be unreasonably withheld), whereupon such successor administrative agent or collateral agent shall succeed to the rights, powers and duties of the Administrative Agent or the Collateral Agent, as the case may be, and the term "Administrative Agent" or "Collateral Agent" shall mean such successor administrative agent or collateral agent effective upon such appointment and approval, and the rights, powers and duties of the former Administrative Agent or Collateral Agent (in its capacity as such), as the case may be, shall be terminated, without any other or further act or deed on the part of such former Administrative Agent or Collateral Agent or any of the parties to this Agreement or any holders of the Notes. The resignation of the Administrative Agent or the Collateral Agent shall not be effective until a successor administrative agent or a successor collateral agent, as the case may be, shall have been so appointed and approved. After any retiring Administrative Agent's or Collateral Agent's resignation as such, the provisions of this Section 13 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent or Collateral Agent, as the case may be, under this Agreement and the other Loan Documents.
Successor Administrative Agent and Collateral Agent. (a) The Administrative Agent may resign as Administrative Agent upon 30 daysnotice to the Lenders and the Company. If the Administrative Agent shall resign as Administrative Agent under this Agreement and the other Loan Documents, then the Required Lenders shall appoint from among the Lenders a successor agent for the Lenders, which successor agent shall (unless an Event of Default under Section 8(a) or Section 8(f) with respect to any Borrower shall have occurred and be continuing) be subject to approval by the Company (which approval shall not be unreasonably withheld or delayed), whereupon such successor agent shall succeed to the rights, powers and duties of the Administrative Agent and the term
Successor Administrative Agent and Collateral Agent. (a) The Administrative Agent may, upon at least thirty (30) days’ notice to the Servicer (on the Sellers’ behalf) and each Purchaser Agent, resign as an Administrative Agent. Such resignation shall not become effective until a successor agent (i) is appointed by the Required Purchasers and so long as no Event of Termination, Collection Control Event, or Non-Reinvestment Event has occurred and is continuing, consented to by the Servicer (on the Sellers’ behalf) (such consent not to be unreasonably withheld, conditioned, or delayed), and (ii) has accepted such appointment. Upon such acceptance of its appointment as the Administrative Agent hereunder by a successor Administrative Agent, such successor Administrative Agent shall succeed to and become vested with all the rights and duties of the Administrative Agent, and such retiring Administrative Agent shall be discharged from its duties and obligations under the Transaction Documents.
Successor Administrative Agent and Collateral Agent. (a) Administrative Agent may (as a result of events or circumstances arising after the Closing Date) resign at any time by giving thirty days’ prior written notice thereof to Lenders and Borrower, and Administrative Agent may be removed at any time with or without cause by an instrument or concurrent instruments in writing delivered to Borrower and Administrative Agent and signed by the Requisite Lenders.
Successor Administrative Agent and Collateral Agent. 15.1 Effective as of the Amendment No. 2 Effective Date, CNAI has resigned as Administrative Agent and Collateral Agent under the Loan Documents pursuant to that certain Successor Agent Agreement among CNAI, Bank of America and the Borrower dated as of the date hereof, and Bank of America has agreed to be appointed as successor Administrative Agent and Collateral Agent under the Loan Documents, in each case in accordance with Section 8.01 of the Credit Agreement.
Successor Administrative Agent and Collateral Agent. Upon the acceptance of any appointment as Administrative Agent and/or Collateral Agent under the Loan Documents by a successor Administrative Agent and/or Collateral Agent, such successor Administrative Agent and/or Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent and/or Collateral Agent, and the retiring Administrative Agent and/or Collateral Agent shall be discharged from its duties and obligations under the Loan Documents. Even after any retiring Administrative Agent's and/or Collateral Agent's resignation as Administrative Agent and/or Collateral Agent under the Loan Documents, the provisions of this Section 9.2 shall continue to inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent and/or Collateral Agent under the Loan Documents.
Successor Administrative Agent and Collateral Agent. (a) The Administrative Agent shall have the right to resign at any time by giving thirty (30) days’ prior written notice thereof to the Lenders, provided that such notice may be waived by the Required Lenders during the continuance of an Event of Default, and, in the absence an Event of
Successor Administrative Agent and Collateral Agent. Termination of Agency. Administrative Agent and Collateral Agent may resign at ---------------------- any time by giving at least fifteen (15) days written notice thereof to Indenture Trustee, each Tranche B Lender, Lessor and Lessee, and each of Administrative Agent and Collateral Agent may be removed at any time with or without cause by Indenture Trustee acting on behalf of Majority Tranche A Noteholders together with Majority Tranche B Lenders. Upon any resignation or removal of Administrative Agent or Collateral Agent, Majority Tranche B Lenders shall have the right with, provided no Lease Event of Default shall have occurred and be continuing, the consent of Lessee (such consent not to be unreasonably withheld or delayed) to appoint a successor Administrative Agent who shall be reasonably acceptable to Lessee (it being understood and agreed that any non-defaulting Tranche B Lender is deemed to be acceptable to Lessee) and not objected to by Indenture Trustee on behalf of Majority Tranche A Noteholders. If no successor Administrative Agent or Collateral Agent shall have been so appointed by Majority Tranche B Lenders within thirty (30) days after any such resignation of removal, the retiring Administrative Agent or Collateral Agent may, appoint a successor Administrative Agent or Collateral Agent which shall be a commercial bank organized under the laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $100,000,000. Upon the acceptance of any appointment as Administrative Agent or Collateral Agent hereunder by a successor Administrative Agent or Collateral Agent, such successor Administrative Agent or Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent or Collateral Agent, and the obligations under each Operative Document. Any Administrative Agent or Collateral Agent resigning in accordance with this Section 11.7 shall retain the benefits of Section 11 as to any actions taken or omitted to be taken by it while it was Administrative Agent or Collateral Agent.