Common use of SUCCESSOR LOAN ADMINISTRATOR Clause in Contracts

SUCCESSOR LOAN ADMINISTRATOR. The Loan Administrator may resign at any time by giving thirty (30) days prior written notice thereof to the Agent, the Lenders and the Board and may be removed at any time with or without cause by the Requisite Lenders and the Board; provided, however, that the Loan Administrator shall continue to perform all Loan Administrator functions hereunder until a successor Loan Administrator shall have been appointed. Upon any such resignation or removal, the Requisite Lenders shall have the right to appoint a successor Loan Administrator, subject to confirmation by the Board. If no successor Loan Administrator shall have accepted such appointment, or the parties are unable to agree on a successor Loan Administrator, in each case within one hundred and twenty (120) days after the retiring Loan Administrator's giving of notice of resignation or the removal of the Loan Administrator, the Loan Administrator may appoint a successor Loan Administrator who shall be willing to accept such appointment. Upon the acceptance of any appointment as Loan Administrator hereunder by a successor Loan Administrator, such successor Loan Administrator shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring or removed Loan Administrator, and the retiring or removed Loan Administrator shall be discharged from its duties and obligations as Loan Administrator under this Agreement. After any Loan Administrator's resignation or removal hereunder as Loan Administrator the provisions of this Article VIII shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Loan Administrator under this Agreement.

SUCCESSOR LOAN ADMINISTRATOR. The Loan Administrator may resign at any time by giving thirty (30) days prior written notice thereof to the AgentLenders, the Lenders Borrower and the Board and may be removed at any time with or without cause by the Requisite Lenders and the Board; provided, however, that the Loan Administrator shall continue to perform all Loan Administrator functions hereunder until a successor Loan Administrator shall have been appointed. Upon any such resignation or removal, the Requisite Lenders shall have the right to appoint a successor Loan Administrator, subject to confirmation by the BoardBoard and the approval, not to be unreasonably withheld, by the Borrower. If no successor Loan Administrator shall have accepted such appointment, appointment or the applicable parties are unable to agree on a successor Loan Administrator, in each case within one hundred and twenty (120) days after the retiring Loan Administrator's giving of notice of resignation or the removal of the Loan Administrator, the Loan Administrator may appoint a successor Loan Administrator who shall be willing to accept such appointment. Upon the acceptance of any appointment as Loan Administrator hereunder by a successor Loan Administrator, such successor Loan Administrator shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring or removed Loan Administrator, and the retiring or removed Loan Administrator shall be discharged from its duties and obligations as Loan Administrator under this Agreement. After any Loan Administrator's resignation or removal hereunder as Loan Administrator the provisions of this Article VIII shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Loan Administrator under this Agreement.

SUCCESSOR LOAN ADMINISTRATOR. The Loan Administrator may resign at any time by giving thirty (30) 30 days prior written notice thereof to the Agent, the Lenders and the Board and may be removed at any time with or without cause by the Requisite Lenders and the Board; provided, however, that the Loan Administrator shall continue to perform all Loan Administrator functions hereunder until a successor Loan Administrator shall have been appointed. Upon any such resignation or removal, the Requisite Lenders shall have the right to appoint a successor Loan Administrator, subject to confirmation by the Board. If no successor Loan Administrator shall have accepted such appointment, or the parties are unable to agree on a successor Loan Administrator, in each case appointment within one hundred and twenty (120) 120 days after the retiring Loan Administrator's giving of notice of resignation or the removal of the Loan Administrator, the Loan Administrator may appoint a successor Loan Administrator who shall be willing to accept such appointment. Upon the acceptance of any appointment as Loan Administrator hereunder by a successor Loan Administrator, such successor Loan Administrator shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring or removed Loan Administrator, and the retiring or removed Loan Administrator shall be discharged from its duties and obligations as Loan Administrator under this Agreement. After any Loan Administrator's resignation or removal hereunder as Loan Administrator the provisions of this Article VIII shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Loan Administrator under this Agreement.

SUCCESSOR LOAN ADMINISTRATOR. The Loan Administrator may resign at any time by giving thirty (30) 30 days prior written notice thereof to the Agent, the Lenders and the Board and may be removed at any time with or without cause by the Requisite Lenders and the Board; provided, however, that the Loan Administrator shall continue to perform all Loan Administrator functions hereunder until a successor Loan Administrator shall have been appointed. Upon any such resignation or removal, the Requisite Lenders shall have the right to appoint a successor Loan Administrator, subject to confirmation by the BoardBoard and the approval (including in respect of fees payable to the Loan Administrator), not to be unreasonably withheld, of the Borrower. If no successor Loan Administrator shall have accepted such appointment, or the parties are unable to agree on a successor Loan Administrator, in each case within one hundred and twenty (120) 120 days after the retiring Loan Administrator's giving of notice of resignation or the removal of the Loan Administrator, the Loan Administrator may appoint a successor Loan Administrator who shall be willing to accept such appointment. Upon the acceptance of any appointment as Loan Administrator hereunder by a successor Loan Administrator, such successor Loan Administrator shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring or removed Loan Administrator, and the retiring or removed Loan Administrator shall be discharged from its duties and obligations as Loan Administrator under this Agreement. After any Loan Administrator's resignation or removal hereunder as Loan Administrator the provisions of this Article ARTICLE VIII shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Loan Administrator under this Agreement.

SUCCESSOR LOAN ADMINISTRATOR. The Loan Administrator may resign at any time by giving thirty (30) days prior written notice thereof to the Agent, the Lenders Lender and the Board and may be removed at Subsidiary Loan Parties. Upon receipt of notice of any time with or without cause by the Requisite Lenders and the Board; providedsuch resignation, however, that the Loan Administrator shall continue to perform all Loan Administrator functions hereunder until a successor Loan Administrator shall have been appointed. Upon any such resignation or removal, the Requisite Lenders shall have the right to appoint a successor Loan AdministratorAdministrator with, subject to confirmation by if no Event of Default has occurred and is continuing, the Boardconsent of the Lender and the Subsidiary Loan Parties, which consent shall not be unreasonably withheld. If no successor Loan Administrator shall have been so appointed by the Loan Administrator with the consent of the Lender and the Subsidiary Loan Parties, and shall have accepted such appointment, or the parties are unable to agree on a successor Loan Administrator, in each case within one hundred and twenty thirty (12030) days after the retiring Loan Administrator's giving of notice of resignation or resignation, then the removal retiring Loan Administrator may, on behalf of the Lender and the Subsidiary Loan AdministratorParties, the Loan Administrator may appoint a successor Loan Administrator who Administrator, which shall be willing to accept such appointmentbe, in the case of a successor agent, a commercial bank organized under the laws of the United States or of any State thereof and having a combined capital and surplus of at least $500,000,000.00. Upon the acceptance of any appointment as Loan Administrator hereunder by a successor Loan Administrator, such successor Loan Administrator shall thereupon succeed to and become vested with all the rights, powers, privileges privileges, and duties of the retiring or removed Loan Administrator, and the retiring or removed Loan Administrator shall be discharged from its duties and obligations as Loan Administrator under this AgreementAgreement and the other Loan Documents. After any retiring Loan Administrator's resignation or removal hereunder as Loan Administrator Administrator, the provisions of this Article VIII shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Loan Administrator under this AgreementAgreement and the other Loan Documents.

SUCCESSOR LOAN ADMINISTRATOR. The Loan Administrator may resign at any time by giving thirty (30) 30 days prior written notice thereof to the Agent, the Lenders Lenders, the Participants and the Board and may be removed at any time with or without cause by the Requisite Lenders and the Board; provided, however, that the Loan Administrator shall continue to perform all Loan Administrator functions hereunder until a successor Loan Administrator shall have been appointed. Upon any such resignation or removal, the Requisite Lenders shall have the right to appoint a successor Loan Administrator, subject to confirmation by the Board. If no successor Loan Administrator shall have accepted such appointment, or the parties are unable to agree on a successor Loan Administrator, in each case appointment within one hundred and twenty (120) 120 days after the retiring Loan Administrator's giving of notice of resignation or the removal of the Loan Administrator, the Loan Administrator may appoint a successor Loan Administrator who shall be willing to accept such appointment. Upon the acceptance of any appointment as Loan Administrator hereunder by a successor Loan Administrator, such successor Loan Administrator shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring or removed Loan Administrator, and the retiring or removed Loan Administrator shall be discharged from its duties and obligations as Loan Administrator under this Agreement. After any Loan Administrator's resignation or removal hereunder as Loan Administrator the provisions of this Article VIII shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Loan Administrator under this Agreement.