Common use of Successor Noteholder Representative Clause in Contracts

Successor Noteholder Representative. The Noteholder Representative may resign at any time by giving notice thereof to the Purchasers and the Borrowers. Upon any such resignation, the Required Purchasers shall have the right to appoint a successor Noteholder Representative, subject to approval by the Borrowers provided that no Event of Default shall exist at such time. If no successor Noteholder Representative shall have been so appointed, and shall have accepted such appointment within 30 days after the retiring Noteholder Representative gives notice of resignation, then the retiring Noteholder Representative may, on behalf of the Purchasers, appoint a successor Noteholder Representative, subject to approval by the Borrowers.

Successor Noteholder Representative. The Noteholder Representative may resign at any time by giving notice thereof to the Purchasers PurchasersNoteholders and the Borrowers. Upon any such resignation, the Required Purchasers PurchasersNoteholders shall have the right to appoint a successor Noteholder Representative, subject to approval by the Borrowers provided that no Event of Default shall exist at such time. If no successor Noteholder Representative shall have been so appointed, and shall have accepted such appointment within 30 days after the retiring Noteholder Representative gives notice of resignation, then the retiring Noteholder Representative may, on behalf of the Purchasers, appoint a successor Noteholder Representative, subject to approval by the Borrowers.have