Common use of Successor Lender Agents Clause in Contracts

Successor Lender Agents. Each applicable Lender Agent, respectively, may, upon five days’ notice to the Borrower and its related Lender, and such Lender Agent will, upon the direction of its related Lender (other than such Lender Agent, in its individual capacity) resign as the Lender Agent for such Lender. If such Lender Agent shall resign, then its related Lender during such five day period shall appoint a successor agent. If for any reason no successor agent is appointed by such Lender during such five day period, then effective upon the termination of such five day period, the Borrower shall make all payments in respect of the Obligations directly to such Lender, and for all purposes shall deal directly with such Lender. After any retiring Lender Agent’s resignation hereunder as a Lender Agent, the provisions of Articles XI and XII shall inure to its benefit with respect to any actions taken or omitted to be taken by it while it was a Lender Agent under this Agreement.

Successor Lender Agents. Each applicable Lender Agent, respectively, Agent may, upon five days’ notice to the Borrower Borrower, and its related LenderLenders, and such Lender Agent will, upon the direction of its such related Lender (other than such Lenders, resign as Lender Agent, in its individual capacity) resign as the Lender Agent for such Lender. If such any Lender Agent shall resign, then its the related Lender Lenders during such five day period shall appoint a successor agent. If for any reason no successor agent Lender Agent is appointed by such Lender the related Lenders during such five day period, then effective upon the termination of such five day period, the Borrower shall make all payments in respect of the Obligations Aggregate Unpaids directly to such LenderLenders, and for all purposes shall deal directly with such LenderLenders. After any retiring Lender Agent’s resignation hereunder as a Lender Agent, the provisions of Articles XI and XII shall inure to its benefit with respect to any actions taken or omitted to be taken by it while it was a Lender Agent under this Agreement.