Common use of Appointment by Retiring Agent Clause in Contracts

Appointment by Retiring Agent. If a successor Agent shall not have been appointed within the thirty (30) day period provided in paragraph (a) of this Section 12.07, the retiring Agent shall then appoint a successor Agent who shall serve as such Agent until such time, if any, as the Requisite Lenders appoint a successor Agent as provided above. Each Lender shall indemnify and hold such Agent harmless for and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, reasonable costs, reasonable expenses or disbursements of any kind or nature whatsoever which may be imposed on, incurred by, or asserted against it in any way relating to or arising out of the appointment of a successor Agent pursuant to the terms of this paragraph (c).