Common use of Resignation; Successor Agent Clause in Contracts

Resignation; Successor Agent. (a) Subject to the appointment and acceptance of a successor Administrative Agent as provided in this Section, the Administrative Agent may resign at any time (and, upon the request of the Required Lenders, will so resign) by notifying the Lenders, the Letter of Credit Issuers and the Borrower. Upon any such resignation, the Required Lenders shall have the right, with the consent of the Borrower (which shall not be withheld or delayed unreasonably), to appoint a successor Administrative Agent; provided that the consent the Borrower shall not be required if an Event of Default shall have occurred and be continuing. If no successor Administrative Agent shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation (the “Resignation Effective Date”), then the retiring Administrative Agent may, on behalf of the Lenders and the Letter of Credit Issuers, appoint a successor Administrative Agent which shall be a bank or financial institution, or an Affiliate of any such bank or financial institution.

Resignation; Successor Agent. (a) Subject to the appointment and acceptance of a successor Administrative Agent as provided in this Section, the Administrative Agent may resign at any time (and, upon the request of the Required Lenders, will so resign) by notifying the Lenders, the Letter of Credit Issuers and the BorrowerBorrower Agent. Upon any such resignation, the Required Lenders shall have the right, with the consent of the Borrower Parent (which shall not be withheld or delayed unreasonably), to appoint a successor Administrative Agent; provided that the consent the Borrower Parent shall not be required if an Event of a Default shall have occurred and be continuing. If no successor Administrative Agent shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation (the “Resignation Effective Date”), then the retiring Administrative Agent may, on behalf of the Lenders and the Letter of Credit Issuers, appoint a successor Administrative Agent which shall be a bank or financial institution, or an Affiliate of any such bank or financial institution.

Resignation; Successor Agent. (a) Subject to the appointment and acceptance of a successor Administrative Agent as provided in this Section, the Administrative Agent may resign at any time (and, upon the request of the Required LendersXxxxxxx, will so resign) by notifying the Lenders, the Letter of Credit Issuers and the BorrowerBorrower Agent. Upon any such resignation, the Required Lenders shall have the right, with the consent of the Borrower Parent (which shall not be withheld or delayed unreasonably), to appoint a successor Administrative Agent; provided that the consent the Borrower Parent shall not be required if an Event of a Default shall have occurred and be continuing. If no successor Administrative Agent shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation (the “Resignation Effective Date”), then the retiring Administrative Agent may, on behalf of the Lenders and the Letter of Credit Issuers, appoint a successor Administrative Agent which shall be a bank or financial institution, or an Affiliate of any such bank or financial institution.

Resignation; Successor Agent. (a) Subject to the appointment and acceptance of a successor Administrative Agent as provided in this Sectionbelow, the Administrative Agent may resign at any time by giving at least thirty (and30) days written notice thereof to Lenders and Loan Party Agent Upon receipt of such notice, upon the request of the Required Lenders, will so resign) by notifying the Lenders, the Letter of Credit Issuers and the Borrower. Upon any such resignation, the Required Lenders shall have the right, with the consent of the Borrower (which shall not be withheld or delayed unreasonably), right to appoint a successor Administrative AgentAgent which shall be (a) a U.S. Lender or an Affiliate of a U.S. Lender; or (b) a financial institution reasonably acceptable to Required Lenders and (provided that the consent the Borrower shall not be required if an no Default or Event of Default shall have occurred and be continuingexists) Borrowers. If no successor Administrative Agent shall have been so agent is appointed by prior to the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice effective date of its resignation (the “Resignation Effective Date”)Agent’s resignation, then the retiring Administrative Agent may, on behalf of the Lenders and the Letter of Credit Issuers, may appoint a successor Administrative Agent agent that is a financial institution acceptable to it, which shall be a bank or financial institutionLender unless no Lender accepts the role. Upon acceptance by a successor Agent of its appointment hereunder, or an Affiliate such successor Agent shall thereupon succeed to and become vested with all the powers and duties of any such bank or financial institution.the retiring Agent without further act, and the retiring Agent shall be

Resignation; Successor Agent. (a) Subject to the appointment and acceptance of a successor Administrative Agent as provided in this Section, the Administrative Agent may resign at any time (and, upon the request of the Required Lenders, will so resign) by notifying the Lenders, the Letter of Credit Issuers Lenders and the Borrower. Upon any such resignation, the Required Lenders shall have the right, with the consent of the Borrower (which shall not be withheld or delayed unreasonably), to appoint a successor Administrative Agent; provided that the consent the Borrower shall not be required if an Event of Default shall have occurred and be continuing. If no successor Administrative Agent shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation (the “Resignation Effective Date”), then the retiring Administrative Agent may, on behalf of the Lenders and the Letter of Credit IssuersLenders, appoint a successor Administrative Agent which shall be a bank or financial institution, or an Affiliate of any such bank or financial institution.

Resignation; Successor Agent. (a) Subject to the appointment and acceptance of a successor Administrative Agent as provided in this Section, the Administrative Agent may resign at any time (and, upon the request of the Required Lenders, will so resign) by notifying the Lenders, the Letter of Credit Issuers and the BorrowerBorrower Agent. Upon any such resignation, the Required Lenders shall have the right, with the consent of the Borrower Parent (which shall not be withheld or delayed unreasonably), to appoint a successor Administrative Agent; provided that the consent the Borrower Parent shall not be required if an Event of a Default shall have occurred and be continuing. If no successor Administrative Agent shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation (the “Resignation Effective Date”), then the retiring Administrative Agent may, on behalf of the Lenders and the Letter of Credit Issuers, appoint a successor Administrative Agent which shall be a bank or financial institution, or an Affiliate of any such bank or financial institution.

Resignation; Successor Agent. (a) Subject to the appointment and acceptance of a successor Administrative Agent as provided in this Section, the Administrative Agent may resign at any time (and, upon the request of the Required Lenders, will so resign) by notifying the Lenders, the Letter of Credit Issuers giving at least 30 days written notice thereof to Xxxxxxx and the Borrower. Upon any such resignation, the Required Lenders shall have the right, with the consent of the Borrower (which shall not be withheld or delayed unreasonably), to may appoint a successor Administrative Agentthat is (a) a Lender or Affiliate of a Lender; or (b) a financial institution reasonably acceptable to Required Lenders and (provided that the consent the Borrower shall not be required if an no Default or Event of Default shall have occurred and be continuingexists) Borrower. If no successor Administrative Agent shall have been so is appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice effective date of its resignation (the “Resignation Effective Date”)Agent’s resignation, then the retiring Administrative on such date, Agent may, on behalf of the Lenders and the Letter of Credit Issuers, may appoint a successor Administrative Agent acceptable to it in its discretion (which shall be a bank Lender unless no Lender accepts the role) or, in the absence of such appointment, Required Lenders shall automatically assume all rights and duties of Agent. The successor Agent shall thereupon succeed to and become vested with all the powers and duties of the retiring Agent without further act. The retiring Agent shall be discharged from its duties hereunder on the effective date of its resignation, but shall continue to have all rights and protections available to Agent under the Loan Documents with respect to actions, omissions, circumstances or financial institution, Claims relating to or an Affiliate arising while it was acting or transferring responsibilities as Agent or holding any Collateral on behalf of any such bank or financial institution.Secured Parties,

Resignation; Successor Agent. (a) Subject to the appointment and acceptance of a successor Administrative Agent as provided in this Sectionbelow, the Administrative Agent may resign at any time by giving at least thirty (and, upon the request of the Required Lenders, will so resign30) by notifying the Lenders, the Letter of Credit Issuers days written notice thereof to Lenders and the Borrower. Upon any such resignation, the Required Lenders shall have the right, with the consent of the Administrative Borrower (which shall not be withheld or delayed unreasonably)the date of resignation elected by Agent subject to the notice requirements set forth herein, to appoint a successor Administrative Agent; provided that the consent the Borrower shall not be required if an Event of Default shall have occurred and be continuing. If no successor Administrative Agent shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation (the “Resignation Effective Date”). Upon receipt of such notice, then Required Lenders shall have the retiring Administrative Agent may, on behalf of the Lenders and the Letter of Credit Issuers, right to appoint a successor Administrative Agent which shall be (a) a bank or financial institution, Lender or an Affiliate of a Lender; or (b) a commercial bank that is organized under the laws of the United States or any state or district thereof, has a combined capital surplus of at least $200,000,000 and (provided no Event of Default exists under Sections 11.1(a) or (j)) is reasonably acceptable to Administrative Borrower. If no successor agent is appointed prior to the effective date of the resignation of Agent, then Agent may (but shall not be obligated to) appoint a successor agent from among Lenders which successor (provided no Event of Default exists under Sections 11.1(a) or (j)) shall be reasonably acceptable to Administrative Borrower. Whether or not a successor has been appointed, such bank or financial institution.resignation shall become effective in accordance with such notice on the Resignation Effective Date. Upon acceptance by a successor Agent of an appointment to serve as Agent hereunder, such successor Agent shall 161