Common use of Termination of Remarketing Agreement Clause in Contracts

Termination of Remarketing Agreement. This Remarketing Agreement shall terminate (i) the Business Day immediately following the Remarketing Settlement Date, (ii) at 5:00 P.M. New York City time, on the last date of the Initial Remarketing if the remarketing is not Successful or (ii) on the effective date of the resignation or removal of all of the Remarketing Agents pursuant to Section 8 without any appointment of new Remarketing Agents pursuant to Section 9. In addition, the obligations of the Remarketing Agent may be terminated by it by notice given to the Company prior to the start of the Initial Remarketing if, prior to that time, any of the conditions precedent to the obligations of the Remarketing Agents described in Section 5 hereof as to be satisfied by the date of such notice shall have failed to occur.