Common use of Successor VFCC Agent Clause in Contracts

Successor VFCC Agent. The VFCC Agent may, upon five days’ notice to the Seller and VFCC, and the VFCC Agent will, upon the direction of VFCC, resign as VFCC Agent. If the VFCC Agent shall resign, then VFCC, during such five day period, shall appoint a successor agent. If for any reason no successor VFCC Agent is appointed by VFCC during such five day period, then effective upon the expiration of such five day period, the Seller shall make all payments it otherwise would have made to the VFCC Agent in respect of the Aggregate Unpaids or under any fee letter delivered in connection herewith directly to VFCC and for all purposes shall deal directly with VFCC. After any retiring VFCC Agent’s resignation hereunder as VFCC Agent, the provisions of Articles XI and XII shall inure to its benefit as to any actions taken or omitted to be taken by it while it was the VFCC Agent under this Agreement. Notwithstanding the resignation or removal of the VFCC Agent, Wachovia, as Hedge Counterparty, shall continue to be a Secured Party hereunder.

Successor VFCC Agent. The VFCC Agent may, upon five (5) days’ ' notice to the Seller and VFCC, and the VFCC Agent will, upon the direction of VFCC, resign as VFCC Agent. If the VFCC Agent shall resign, then VFCC, during such five (5) day period, shall appoint a successor agent. If for any reason no successor VFCC Agent is appointed by VFCC during such five (5) day period, then effective upon the expiration of such five (5) day period, the Seller shall make all payments it otherwise would have made to the VFCC Agent in respect of the Aggregate Unpaids or under any fee letter delivered in connection herewith directly to VFCC and for all purposes shall deal directly with VFCC. After any retiring VFCC Agent’s 's resignation hereunder as VFCC Agent, the provisions of Articles XI and XII shall inure to its benefit as to any actions taken or omitted to be taken by it while it was the VFCC Agent under this Agreement. Notwithstanding the resignation or removal of the VFCC Agent, Wachovia, as Hedge Counterparty, shall continue to be a Secured Party hereunder.