Common use of Appointment and Termination Clause in Contracts

Appointment and Termination. In relation to any Series, the Issuer may at any time, subject to the appointment of a replacement Calculation Agent and/or Disposal Agent, as the case may be, with the prior written consent of the Trustee, appoint additional Calculation Agents and/or Disposal Agents, by giving to the Principal Paying Agent and the Calculation Agent and/or Disposal Agent, as the case may be, at least 60 days’ notice to that effect, which notice will expire at least 30 days before or after any relevant Payment Date in respect of that Series. Upon any appointment becoming effective, such person will become a party to the Programme Deed as if originally named in it and will act as Calculation Agent or Disposal Agent, as the case may be, in respect of the relevant Series. The appointment of a Calculation Agent or Disposal Agent who is affiliated with the Arranger may only be terminated upon the insolvency of the relevant Calculation Agent or Disposal Agent, as the case may be.