Common use of The Security Agent's resignation Clause in Contracts

The Security Agent's resignation. notice shall only take effect upon (i) the appointment of a successor and (ii) the transfer, by way of a document expressed as a deed, of all of the Security Property to that successor.

The Security Agent's resignation. notice shall only take effect upon (i) the appointment of a successor and successor, (ii) the transferassignment of the Parallel Debt to that successor and the taking the necessary subsequent actions (including registrations, by way of a document expressed as a deed, filings and notifications) in relation to the fact that the Security Agent has been changed and (iii) the transfer of all of the Transaction Security Property to that successor.