Common use of Appointment of Successor Collateral Agent Clause in Contracts

Appointment of Successor Collateral Agent. Upon any such resignation or removal, a successor Collateral Agent may be appointed by an Act of Required Secured Parties. If no successor Collateral Agent has been so appointed and accepted such appointment within 60 days after the predecessor Collateral Agent gave notice of resignation or was removed, the retiring Collateral Agent may (at the expense of the Issuer), at its option, appoint a successor Collateral Agent, or petition a court of competent jurisdiction for appointment of a successor Collateral Agent, which must be a bank or trust company: (1) duly authorized to perform its obligations under this Agreement and the other Parity Lien Documents; (2) having a combined capital and surplus of at least $500,000,000; (3) maintaining an office in New York, New York; and (4) that is not the Issuer or an Affiliate of the Issuer. The Collateral Agent will fulfill its obligations hereunder until a successor Collateral Agent meeting the requirements of this Section 6.2 has accepted its appointment as Collateral Agent and the provisions of Section 6.3 have been satisfied.

Appointment of Successor Collateral Agent. Upon any such resignation or removal, a successor Collateral Agent Trustee may be appointed by an Act the Holders of Required Secured Partiesa majority in principal amount of the outstanding Notes subject to the consent of the Company, which shall not be unreasonably withheld. If no successor Collateral Agent has been so appointed and accepted such appointment within 60 45 days after the predecessor Collateral Agent gave notice of resignation or was removed, the retiring Collateral Agent may (at the expense of the IssuerCompany), at its option, appoint a successor Collateral Agent, or petition a court of competent jurisdiction for appointment of a successor Collateral Agent, which must be a bank or trust company: (1A) duly authorized to perform its obligations under this Agreement and the other Parity Lien Documentsexercise corporate trust powers; (2B) having a combined capital and surplus of at least $500,000,000100,000,000; (3C) maintaining an office in New York, New York; and (4D) that is not the Issuer or an Affiliate of the Issuera Noteholder. The Collateral Agent will fulfill its obligations hereunder until a successor Collateral Agent meeting the requirements of this Section 6.2 10(b) has accepted its appointment as Collateral Agent and the provisions of Section 6.3 10(c) have been satisfied.

Appointment of Successor Collateral Agent. Upon any such resignation or removal, a successor Collateral Agent may be appointed by an Act of Required Secured Parties. If no successor Collateral Agent has been so appointed and accepted such appointment within 60 30 days after the predecessor Collateral Agent gave notice of resignation or was removed, the retiring Collateral Agent may (at the expense of the IssuerCompany), at its option, appoint a successor Collateral Agent, or petition a court of competent jurisdiction for appointment of a successor Collateral Agent, which must be a bank or trust company: (1i) duly authorized to perform its obligations under this Agreement and the other Parity Lien Documentsexercise corporate trust powers; (2ii) having a combined capital and surplus of at least $500,000,000; (3iii) maintaining an office in New York, New York; and (4iv) that is not a Secured Debt Representative, the Issuer Company or an Affiliate of the IssuerCompany. The Other than as contemplated in Section 5.14, the Collateral Agent will fulfill its obligations hereunder until a successor Collateral Agent meeting the requirements of this Section 6.2 6.02 has accepted its appointment as Collateral Agent and the provisions of Section 6.3 6.03 have been satisfied.

Appointment of Successor Collateral Agent. Upon any such resignation or removal, a successor Collateral Agent may be appointed by an Act of Required Debtholders with, so long as no Secured PartiesDebt Default has occurred and is continuing, the consent of the Company (which consent shall not be unreasonably withheld). If no successor Collateral Agent has been so appointed and accepted such appointment within 60 30 days after the predecessor Collateral Agent gave notice of resignation or was removed, the retiring Collateral Agent may (at the expense of the IssuerCompany), at its option, appoint a successor Collateral Agent, or petition a court of competent jurisdiction for appointment of a successor Collateral Agent, which must be a bank or trust company: (1) duly authorized to perform its obligations under this Agreement and the other Parity Lien Documentsexercise corporate trust powers; (2) having a combined capital and surplus of at least $500,000,000;50.0 million; and (3) maintaining an office in New York, New York; and (4) that is not the Issuer or an Affiliate of the Issuer. The Collateral Agent will fulfill its obligations hereunder until a successor Collateral Agent meeting the requirements of this Section 6.2 7.2 has accepted its appointment as Collateral Agent and the provisions of Section 6.3 7.3 have been satisfied.