Successor Administrator Sample Clauses

Successor Administrator. If a successor Administrator for the Investment Company shall be appointed by the Investment Company, FAS shall upon termination of this Agreement deliver to such successor Administrator at the office of FAS all properties of the Investment Company held by it hereunder. If no such successor Administrator shall be appointed, FAS shall at its office upon receipt of Proper Instructions deliver such properties in accordance with such instructions. Each Fund will bear all out-of-pocket expenses arising from the transition of Administrative Services to a successor Administrator, including without limitation the expenses of moving or transmitting materials to the successor Administrator.
Successor Administrator. The Administrator may, upon at least thirty (30) days’ prior written notice to the Seller, each Purchaser and Purchaser Agent, resign as Administrator. Such resignation shall not become effective until (x) a successor Administrator is appointed by the Majority Purchaser Agents and has accepted such appointment and (y) so long as no Termination Event or Unmatured Termination Event has occurred and is continuing, the Seller and the Servicer shall have consented to such successor Administrator (such consent not to be unreasonably withheld or delayed). Upon such acceptance of its appointment as Administrator hereunder by a successor Administrator, such successor Administrator shall succeed to and become vested with all the rights and duties of the retiring Administrator, and the retiring Administrator shall be discharged from its duties and obligations under the Transaction Documents. After any retiring Administrator’s resignation hereunder, the provisions of Sections 3.1 and 3.2 and this Article V shall inure to its benefit as to any actions taken or omitted to be taken by it while it was the Administrator.
Successor Administrator. In the event of a servicing transfer pursuant to Article Seven of the Transfer and Servicing Agreement, the successor servicer under the Transfer and Servicing Agreement shall, upon the date of such servicing transfer, become the successor Administrator hereunder. "Administrator" shall mean initially Nordstrom fsb and thereafter its permitted successor and assigns as provided in Section 1.13 or any successor Administrator as provided in this Section.
Successor Administrator. In the event of a servicing transfer pursuant to Article VII of the Transfer and Servicing Agreement, the successor servicer under the Transfer and Servicing Agreement shall, upon the date of such servicing transfer, become the successor Administrator hereunder.
Successor Administrator. Any successor Administrator appointed as provided in Section 8.18 shall execute, acknowledge and deliver to the Depositor, the Trustee and to its predecessor Administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor Administrator shall become effective and such successor Administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with like effect as if originally named as Administrator. The successor Administrator shall, at least 30 days prior to the effective date of its acceptance, provide to the Depositor and the Servicer written notice in form and substance reasonably satisfactory to the Depositor and the Servicer containing all information reasonably requested by the Depositor and the Servicer in order for the Depositor to comply with its reporting obligations under Item 6.02 of Form 8-K with respect to a replacement of the Administrator. The Depositor, the Servicer, the Trustee and the predecessor Administrator shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Administrator all such rights, powers, duties and obligations. No successor Administrator shall accept appointment as provided in this Section unless at the time of such acceptance (i) such successor Administrator shall be eligible under the provisions of Section 8.17, (ii) the unsecured long-term debt of such successor Administrator is rated at least “A3” by Moody’s or (iii) the Rating Agencies have confirmed that such successor Administrator will not result in a withdrawal or a downgrading of the then current ratings on any Class of the Offered Certificates. The Servicer shall notify the Rating Agency of the appointment of any successor Administrator. Upon acceptance of appointment by a successor Administrator as provided in this Section, the Servicer shall mail notice of the succession of such Administrator hereunder to the Trustee, all Holders of Certificates at their addresses as shown in the Certificate Register and to each Rating Agency. If the Servicer fails to mail such notice within 30 days after acceptance of appointment by the successor Administrator, the successor Administrator shall cause such notice to be mailed at the expense of the Servicer.
Successor Administrator. (a) The Administrator may, upon at least five (5) days notice to the Seller and each Purchaser and Purchaser Agent, resign as Administrator. Except as provided below, such resignation shall not become effective until a successor agent is appointed by the Majority Purchasers and has accepted such appointment. If no successor Administrator shall have been so appointed by the Majority Purchasers, within thirty (30) days after the departing Administrator’s giving of notice of resignation, the departing Administrator may appoint a successor Administrator as successor Administrator. If no successor Administrator shall have been so appointed by the Majority Purchasers within sixty (60) days after the departing Administrator’s giving of notice of resignation, the departing Administrator may petition a court of competent jurisdiction to appoint a successor Administrator.
Successor Administrator. 11 ADMINISTRATION AGREEMENT, dated as of [ ], 2001 (the "Administration -------------- Agreement"), between FIRST CONSUMERS CREDIT CARD MASTER NOTE TRUST, a common law --------- trust organized and existing under the laws of the State of Illinois (the "Issuer"), and FIRST CONSUMERS NATIONAL BANK, a national banking association, as ------ administrator (the "Administrator"). -------------
Successor Administrator. The Administrator may resign at any time by giving written notice thereof to the Banks and the Company, which resignation shall be effective upon the appointment of a successor Administrator. A successor Administrator shall be appointed upon a vote of the Majority Banks. Upon the acceptance of any appointment as Administrator hereunder by a substitute or successor Administrator, such substitute or successor Administrator shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrator, and the retiring Administrator shall be discharged from its duties and obligations under this Agreement from the date of its resignation as specified in such notice, but such resignation shall not discharge the Administrator from any liability incurred in the discharge of its duties hereunder before such resignation.
Successor Administrator. 10 SCHEDULE 1 - ADMINISTRATION FEE EXHIBIT A - FORM OF POWER OF ATTORNEY ADMINISTRATION AGREEMENT dated as of [*], 2001 (the "Administration -------------- Agreement"), between Wilmington Trust Company, not in its individual capacity --------- but solely as Owner Trustee, on behalf of the CONSECO PRIVATE LABEL CREDIT CARD MASTER NOTE TRUST, a business trust organized and existing under the laws of the State of Delaware (herein, the "Issuer"), and CONSECO BANK, INC., a Utah ------ industrial loan corporation, as administrator (herein, the "Administrator"). -------------
Successor Administrator. In the event that a successor to any of the Administrator’s duties or responsibilities hereunder is designated by the Fund by written notice to the Administrator, the Administrator will, promptly upon such termination and at the expense of the Fund, transfer to such successor all other relevant books, records, correspondence and other data established or maintained by the Administrator under this Agreement in form reasonably acceptable to the Fund (if such form differs from the form in which the Administrator has maintained the same, the Fund shall pay any expenses associated with transferring the same to such form), and will cooperate in the transfer of such duties and responsibilities, including provision for assistance from the Administrator’s personnel in the establishment of books, records, and other data by such successor.