Common use of Appointment and Removal Clause in Contracts

Appointment and Removal. The Issuer (on the direction of the Manager) may with the prior written approval of the Offered Note Trustee (which approval must not be unreasonably withheld or delayed): (a) (APPOINT NEW AGENTS): appoint: (i) additional or alternative Paying Agents (other than the Principal Paying Agent); or (ii) an alternative Agent Bank, Offered Note Registrar or Principal Paying Agent; and (b) (TERMINATE APPOINTMENT OF AGENTS): subject to this clause 10, terminate the appointment of any Agent by giving written notice to that effect to the Agent whose appointment is to be terminated copied to each Rating Agency, the Offered Note Trustee and (if it is not the Agent whose appointment is to be terminated) the Principal Paying Agent: (i) with effect immediately on the giving of that notice, if any of the following occurs in relation to the Agent (as the case may be): A. an Insolvency Event; B. it ceases to conduct business or proposes to cease conduct of its business or a substantial part of that business; or C. it fails to remedy within five Business Days after prior written notice by the Issuer or Manager any material breach of this Agreement on the part of the Agent (as the case may be); and (ii) otherwise, with effect on a date not less than 60 days' from that notice (which date must be not less than 30 days before any due date for payment on any Offered Notes).

Appointment and Removal. The Issuer Trustee (on the direction of the Manager) may with the prior written approval of the Offered Note Trustee (which approval must not be unreasonably withheld or delayed): (a) (APPOINT NEW AGENTS): appoint: (i) additional or alternative Paying Agents (other than the Principal Paying Agent); or (ii) an alternative Agent Bank, Offered Note Registrar or Principal Paying Agent; and (b) (TERMINATE APPOINTMENT OF AGENTS): subject to this clause [10], terminate the appointment of any Agent by giving written notice to that effect to the Agent whose appointment is to be terminated copied to each Current Rating AgencyAuthority, the Offered Note Trustee and (if it is not the Agent whose appointment is to be terminated) the Principal Paying Agent: (i) with effect immediately on the giving of that notice, if any of the following occurs in relation to the Agent (as the case may be): A. an Insolvency Event; B. it ceases to conduct business or proposes to cease conduct of its business or a substantial part of that business; or C. it fails to remedy within five Business Days after prior written notice by the Issuer Trustee or Manager any material breach of this Agreement on the part of the Agent (as the case may be); and (ii) otherwise, with effect on a date not less than 60 [60] days' from that notice (which date must be not less than 30 [30] days before any due date for payment on any Offered Class [ ] Notes).

Appointment and Removal. The Issuer (on the direction of the Manager) may with the prior written approval of the Offered Offshore Note Trustee (which approval must not be unreasonably withheld or delayed): (a) (APPOINT NEW AGENTS): appoint: (i) additional or alternative Paying Agents (other than the Principal Paying Agent); or (ii) an alternative Agent Bank, Offered Offshore Note Registrar or Principal Paying Agent; and (b) (TERMINATE APPOINTMENT OF AGENTS): subject to this clause 10, terminate the appointment of any Agent by giving written notice to that effect to the Agent whose appointment is to be terminated copied to each Rating Agency, the Offered Offshore Note Trustee and (if it is not the Agent whose appointment is to be terminated) the Principal Paying Agent: (i) with effect immediately on the giving of that notice, if any of the following occurs in relation to the Agent (as the case may be): A. an Insolvency Event; B. it ceases to conduct business or proposes to cease conduct of its business or a substantial part of that business; or C. it fails to remedy within five Business Days after prior written notice by the Issuer or Manager any material breach of this Agreement on the part of the Agent (as the case may be); and (ii) otherwise, with effect on a date not less than 60 days' from that notice (which date must be not less than 30 days before any due date for payment on any Offered Offshore Notes).