Common use of Agent Resignation Clause in Contracts

Agent Resignation. Agent may resign by giving at least fortyrfive (45) days’ advancejvritten notice of its resignation to the Depositor and the Beneficiary. Within forty-five (45) days after receiving the aforesaid notice, the Depositor and the Beneficiary agree to appoint a successor escrow agent, to which Agent shall transfer the Account Funds then held in the Account, less its unpaid fees, costs and expenses. If a successor escrow agent has not been appointed and has not accepted such appointment by the end of the 45-day period, Agent may apply to a court of competent jurisdiction for the appointment of a successor escrow agent, and the costs, expenses and reasonable attorney's fees which Agent incurs in connection with such a proceeding shall be paid by Depositor.

Agent Resignation. It is understood that Agent may reserves the right to resign at any time by giving at least fortyrfive (45) days’ advancejvritten written notice of its resignation resignation, specifying the effective date thereof, to the Depositor and the BeneficiaryDepositors. Within forty-five thirty (4530) days after receiving the aforesaid notice, the Depositor and the Beneficiary Depositors agree to appoint a successor escrow agent, agent to which Agent shall may transfer the Account Funds Assets then held in the Account, less its unpaid fees, costs and expenses. If a successor escrow agent has not been appointed and has not accepted such appointment by the end of the 45-such thirty- (30-) day period, Agent may apply to a court of competent jurisdiction for the appointment of a successor escrow agent, and the costs, expenses and reasonable attorney's attorneys' fees which that Agent incurs in connection with such a proceeding shall be paid by Depositorthe Depositors.

Agent Resignation. Agent may resign by giving at least fortyrfive forty-five (45) days’ advancejvritten advance written notice of its resignation to the Depositor and the Beneficiary. Within forty-five (45) days after receiving the aforesaid notice, the Depositor and the Beneficiary agree to appoint a successor escrow agent, to which Agent shall transfer the Account Funds then held in the Account, less its unpaid fees, costs and expenses. If a successor escrow agent has not been appointed and has not accepted such appointment by the end of the 45-day period, Agent may apply to a court of competent jurisdiction for the appointment of a successor escrow agent, and the costs, expenses and reasonable attorney's fees which Agent incurs in connection with such a proceeding shall be paid by Depositor.

Agent Resignation. It is understood that Agent may reserves the right to resign at any time by giving at least fortyrfive (45) days’ advancejvritten written notice of its resignation resignation, specifying the effective date thereof, to the Depositor Secured Party and the BeneficiaryPosting Party. Within forty-five (45) 30 days after receiving the aforesaid notice, the Depositor Secured Party and the Beneficiary Posting Party agree to appoint a successor escrow agent, agent to which Agent shall may transfer the Account Funds Assets then held in the Account, less its unpaid fees, costs and expenses. If a successor escrow agent has not been appointed and has not accepted such appointment by the end of the 4530-day period, Agent may apply to a court of competent jurisdiction for the appointment of a successor escrow agent, and the costs, expenses and reasonable attorney's ’s fees which Agent incurs in connection with such a proceeding shall be paid by Depositorthe Posting Party.

Agent Resignation. Agent may resign by giving at least fortyrfive forty-five (45) days’ advancejvritten advance jvritten notice of its resignation to the Depositor and the Beneficiary. , Within forty-five (45) days after receiving the aforesaid notice, the Depositor and the Beneficiary agree to appoint a successor escrow agent, to which Agent shall transfer the Account Funds then held in the Account, less its unpaid fees, costs and expenses. If a successor escrow agent has not been appointed and has not accepted such appointment by the end of the 45-day period, Agent may apply to a court of competent jurisdiction for the appointment of a successor escrow agent, and the costs, expenses and reasonable attorney's fees which Agent incurs in connection with such a proceeding shall be paid by Depositor.