Common use of AGENT MAY APPOINT SUCCESSOR Clause in Contracts

AGENT MAY APPOINT SUCCESSOR. If any Agent gives notice of its resignation in accordance with CLAUSE 12.1 and by the tenth day before the expiration of such notice a Successor Agent has not been duly appointed, such Agent may itself, following such consultation with the Seventh Issuer as is practicable in the circumstances and with the prior written approval of the Note Trustee and the Seventh Issuer (provided such failure to appoint was not due to default by the Seventh Issuer), appoint as its Successor Agent any reputable and experienced bank or financial institution and give notice of such appointment to the Seventh Issuer, the remaining Agents and the Noteholders.

AGENT MAY APPOINT SUCCESSOR. If any Agent gives notice of its resignation in accordance with CLAUSE 12.1 and by the tenth day before the expiration of such notice a Successor Agent has not been duly appointed, such Agent may itself, following such consultation with the Seventh Sixth Issuer as is practicable in the circumstances and with the prior written approval of the Note Trustee and the Seventh Sixth Issuer (provided such failure to appoint was not due to default by the Seventh Sixth Issuer), appoint as its Successor Agent any reputable and experienced bank or financial institution and give notice of such appointment to the Seventh Sixth Issuer, the remaining Agents and the Noteholders.

AGENT MAY APPOINT SUCCESSOR. If any Agent gives notice of its resignation in accordance with CLAUSE 12.1 and by the tenth day before the expiration of such notice a Successor Agent has not been duly appointed, such Agent may itself, following such consultation with the Seventh Fifth Issuer as is practicable in the circumstances and with the prior written approval of the Note Trustee and the Seventh Fifth Issuer (provided such failure to appoint was not due to default by the Seventh Fifth Issuer), appoint as its Successor Agent any reputable and experienced bank or financial institution and give notice of such appointment to the Seventh Fifth Issuer, the remaining Agents and the Noteholders.

AGENT MAY APPOINT SUCCESSOR. If any Agent gives notice of its resignation in accordance with CLAUSE 12.1 and by the tenth day before the expiration of such notice a Successor Agent has not been duly appointed, such Agent may itself, following such consultation with the Seventh Fourth Issuer as is practicable in the circumstances and with the prior written approval of the Note Trustee and the Seventh Fourth Issuer (provided such failure to appoint was not due to default by the Seventh Fourth Issuer), appoint as its Successor Agent any reputable and experienced bank or financial institution and give notice of such appointment to the Seventh Fourth Issuer, the remaining Agents and the Noteholders.

AGENT MAY APPOINT SUCCESSOR. If any Agent gives notice of its resignation in accordance with CLAUSE 12.1 and by the tenth day before the expiration of such notice a Successor Agent has not been duly appointed, such Agent may itself, following such consultation with the Seventh Sixth Issuer as is practicable in the circumstances and with the prior written approval of the Note Sixth Issuer Security Trustee and the Seventh Sixth Issuer (provided Provided such failure to appoint was not due to default by the Seventh Sixth Issuer), appoint as its Successor Agent any reputable and experienced bank or financial institution and give notice of such appointment to the Seventh Sixth Issuer, the remaining Agents and the Noteholders.