Common use of Agents may appoint successors Clause in Contracts

Agents may appoint successors. If the Principal Paying Agent gives notice of its resignation in accordance with Clause 10.1 (Resignation) and by the fifth day before the expiry of such notice a successor has not been duly appointed in accordance with Clause 10.4 (Additional and successor agents), the Principal Paying Agent (as the case may be) may itself, following such consultation with the Issuer and the Guarantor as is practicable in the circumstances, appoint as its successor any reputable and experienced financial institution and give notice of such appointment to the Issuer, the remaining Agents and the Bondholders, whereupon the Issuer, the Guarantor, the remaining Agents and such successor shall acquire and become subject to the same rights and obligations between themselves as if they had entered into an agreement in the form mutatis mutandis of this Agreement.

Agents may appoint successors. If the Principal Paying Agent or any Required Agent gives notice of its resignation in accordance with Clause 10.1 (Resignation) 12.1 and by the fifth tenth day before the expiry of such notice a successor has not been duly appointed in accordance with Clause 10.4 (Additional and successor agents)12.4, the Principal Paying Agent (as or the case may be) Required Agent may itself, following such consultation with the Issuer and the Guarantor as is practicable in the circumstances, circumstances and with the prior written approval of the Trustee appoint as its successor any reputable and experienced financial institution and give notice of such appointment to the Issuer, the remaining Agents Agents, the Trustee and the BondholdersNoteholders, whereupon the Issuer, the Guarantorremaining Agents, the remaining Agents Trustee and such successor shall acquire and become subject to the same rights and obligations between themselves as if they had entered into an agreement in the form mutatis mutandis of this Agreement.