Common use of Appointment of Successor Agent Clause in Contracts

Appointment of Successor Agent. If at any time the Escrow Agent ------------------------------ shall resign or be removed or otherwise become incapable of acting or if at any time a vacancy shall occur in the office of the Escrow Agent for any other cause, a successor Escrow Agent shall be appointed by the Company with the consent of the Majority Holders by an instrument in writing delivered to the Escrow Agent within the time specified below. Upon delivery of said instrument to and acceptance of said instrument by the successor Escrow Agent, the resignation or removal of the Escrow Agent shall become effective and such successor Escrow Agent shall become vested with all the rights, powers, duties and obligations of its predecessor hereunder. If no successor Escrow Agent shall have been appointed at the effective date of resignation, the Escrow Agent, any other party hereto or the Majority Holders may petition a court of competent jurisdiction for the appointment of a successor.

Appointment of Successor Agent. If at any time the Escrow Agent ------------------------------ shall resign or be removed or otherwise become incapable of acting or if at any time a vacancy shall occur in the office of the Escrow Agent for any other cause, a successor Escrow Agent (duly qualified as provided in Section 4 hereof) shall be appointed by the Administrative Agent and the Company with the consent of the Majority Holders by an instrument in writing delivered to the Escrow Agent within the time specified below. Upon delivery of said instrument to and acceptance of said instrument by the successor Escrow Agent, the resignation or removal of the Escrow Agent shall become effective and such successor Escrow Agent shall become vested with all the rights, powers, duties and obligations of its predecessor hereunder. If no successor Escrow Agent shall have been appointed at the effective date of resignationresignation or within 30 days of a notice of removal, the Escrow Agent, Agent or any other party hereto or may petition, at the Majority Holders may petition expense of the Company, a court of competent jurisdiction for the appointment of a successor.

Appointment of Successor Agent. If at any time the Escrow Agent ------------------------------ shall resign or be removed or otherwise become incapable of acting or if at any time a vacancy shall occur in the office of the Escrow Agent for any other cause, a successor Escrow Agent (duly qualified as provided in Section 4 above) shall be appointed by the Company with the consent of the Majority Holders Purchasers by an instrument in writing delivered to the Escrow Agent within the time specified below. Upon delivery of said instrument to and acceptance of said instrument by the successor Escrow Agent, the resignation or removal of the Escrow Agent shall become effective and such successor Escrow Agent shall become vested with all the rights, powers, duties and obligations of its predecessor hereunder. If no successor Escrow Agent shall have been appointed at the effective date of resignationresignation or within 30 days of a notice of removal, the Escrow Agent, Agent or any other party hereto or the Majority Holders may petition a court of competent jurisdiction for the appointment of a successor.

Appointment of Successor Agent. If at any time the Escrow Agent ------------------------------ shall resign or be removed or otherwise become incapable of acting or if at any time a vacancy shall occur in the office of the Escrow Agent for any other cause, a successor Escrow Agent (duly qualified as provided in Section 5 above) shall be appointed by the Company with the consent of the Majority Holders Chase by an instrument in writing delivered to the Escrow Agent within the time specified below. Upon delivery of said instrument to and acceptance of said instrument by the successor Escrow Agent, the resignation or removal of the Escrow Agent shall become effective and such successor Escrow Agent shall become vested with all the rights, powers, duties and obligations of its predecessor hereunder. If no successor Escrow Agent shall have been appointed at the effective date of resignationresignation or within 30 days of a notice of removal, the Escrow Agent, Agent or any other party hereto or the Majority Holders may petition a court of competent jurisdiction for the appointment of a successor.