AGENT’S SUCCESSOR Sample Clauses
The "Agent’s Successor" clause defines the process for appointing a new agent if the current agent is unable or unwilling to continue their duties. Typically, this clause outlines the circumstances under which a successor can be named, the method for selecting or designating the successor, and the transfer of authority and responsibilities to the new agent. By establishing a clear procedure for succession, this clause ensures continuity in agency representation and prevents disruptions or disputes if the original agent can no longer serve.
AGENT’S SUCCESSOR. This Agreement may be assigned only with the expressed, written consent of the Company and only to the Agent’s successor or successors provided such successor or successors meet the Company’s requirements for appointment.
AGENT’S SUCCESSOR. The Agent may resign at any time from its duties under the Agreement subject to no fewer than thirty (30) days' prior notice to the Borrower and the Banks. The Majority Banks may at any time terminate its appointment as Agent subject to no fewer that thirty (30) days' prior notice to the Agent, the Borrower and the Banks. In agreement with the Borrower, the Majority Banks, not including the Agent, may designate a bank or other financial institution to replace the Agent if the Agent resigns or is removed, provided that this is done within twenty (20) days following the date of the notice. In the event of failure to designate a successor within that time period, the Agent shall itself designate its own successor, by selecting a prime bank or other financial institution with a financially sound reputation, and which has an office in Paris. The resignation or removal of the Agent shall not be effective, and the Agent shall continue to perform its duties until it has received written acceptance from its designated successor.
AGENT’S SUCCESSOR. This Agreement may only be assigned with the prior expressed, written consent of the Company to the Agent’s successor or successors, provided such successor or successors meet the Company’s requirements for appointment as set forth in this Agreement, the Share Repurchase Agreement between the Agent and National Atlantic Holdings Corp. or any other communication provided to the Agent by the Company. No other assignment of this Agreement may be made by the Agent without the prior written consent of the Company, which consent shall not be unreasonably withheld.
AGENT’S SUCCESSOR