Common use of Appointment of Successor Fiscal Agent Clause in Contracts

Appointment of Successor Fiscal Agent. If at any time the Fiscal Agent shall resign or be removed or become unable to act as Fiscal Agent, the State will appoint a successor fiscal agent hereunder. Such appointment shall be evidenced by a Direction of the State delivered to the new fiscal agent. The State shall give notice to the retiring Fiscal Agent of such appointment before such appointment shall become effective. The State shall also give notice of such appointment to Bondholders by appropriate means determined by the State, but the failure to give such notice shall not affect the sufficiency of such appointment. Until the appointment of a successor fiscal agent has become effective, the retiring Fiscal Agent shall continue to perform its duties hereunder for the same compensation as in effect at that time. After the appointment of a successor fiscal agent has become effective, the retiring Fiscal Agent shall, subject to the provisions of Section 6.7 below, cease to act as such hereunder, and upon payment of its compensation and expenses then unpaid, shall deliver and pay over to its successor any and all monies and other property then in its possession hereunder as such Fiscal Agent. If a notice of the appointment of a successor fiscal agent shall not have been delivered to the retiring Fiscal Agent within six months after giving of such notice of resignation, the resigning Fiscal Agent may petition any court of competent jurisdiction for the appointment of a successor fiscal agent. In the event such court of competent jurisdiction refuses to appoint a successor fiscal agent, the Fiscal Agent may resign, effective immediately. 30 Any corporation into which the Fiscal Agent may be merged or with which it may be consolidated or any corporation resulting from any merger or consolidation to which the Fiscal Agent shall be a party or any corporation to which all the business and assets of the Fiscal Agent may be transferred shall be a successor fiscal agent hereunder without further act.

Appointment of Successor Fiscal Agent. If at any time the Fiscal Agent shall resign or be removed or become unable to act as Fiscal Agent, the State will appoint a successor fiscal agent Fiscal Agent hereunder. Such appointment shall be evidenced by a Direction of the State delivered to the new fiscal agentFiscal Agent. The State shall give notice to the retiring Fiscal Agent of such appointment before such appointment shall become effective. The State shall also give notice of such appointment by mailing to Bondholders by appropriate means determined by in the Statemanner as provided for in the notice of redemption in Section 5.4 hereof, but the failure to give such notice by mailing shall not affect the sufficiency of such appointment. Until the appointment of a successor fiscal agent Fiscal Agent has become effective, the retiring Fiscal Agent shall continue to perform its duties hereunder for the same compensation as in effect at that time. After the appointment of a successor fiscal agent Fiscal Agent has become effective, the retiring Fiscal Agent shall, subject to the provisions of Section 6.7 below, cease to act as such hereunder, and upon payment of its compensation and expenses then unpaid, shall deliver and pay over to its successor any and all monies and other property then in its possession hereunder as such Fiscal Agent. If a notice of the appointment of a successor fiscal agent Fiscal Agent shall not have been delivered to the retiring Fiscal Agent within six months after giving of such notice of resignation, the resigning Fiscal Agent may petition any court of competent jurisdiction for the appointment of a successor fiscal agent. In the event such court of competent jurisdiction refuses to appoint a successor fiscal agent, the Fiscal Agent may resign, effective immediately. 30 Any corporation into which the Fiscal Agent may be merged or with which it may be consolidated or any corporation resulting from any merger or consolidation to which the Fiscal Agent shall be a party or any corporation to which all the business and assets of the Fiscal Agent may be transferred shall be a successor fiscal agent hereunder without further actAgent.

Appointment of Successor Fiscal Agent. If at any time the Fiscal Agent shall resign or be removed or become unable to act as Fiscal Agent, the State will appoint a successor fiscal agent hereunder. Such appointment shall be evidenced by a Direction of the State delivered to the new fiscal agent. The State shall give notice to the retiring Fiscal Agent of such appointment before such appointment shall become effective. The State shall also give notice of such appointment to Bondholders by appropriate means determined by the State, but the failure to give such notice shall not affect the sufficiency of such appointment. Until the appointment of a successor fiscal agent has become effective, the retiring Fiscal Agent shall continue to perform its duties hereunder for the same compensation as in effect at that time. After the appointment of a successor fiscal agent has become effective, the retiring Fiscal Agent shall, subject to the provisions of Section 6.7 below6.07, cease to act as such hereunder, and upon payment of its compensation and expenses then unpaid, shall deliver and pay over to its successor any and all monies and other property then in its possession hereunder as such Fiscal Agent. If a notice of the appointment of a successor fiscal agent shall not have been delivered to the retiring Fiscal Agent within six months after giving of such notice of resignation, the resigning Fiscal Agent may petition any court of competent jurisdiction for the appointment of a successor fiscal agent. In the event such court of competent jurisdiction refuses to appoint a successor fiscal agent, the Fiscal Agent may resign, effective immediately. 30 TABLE OF CONTENTS​​​​​ Any corporation into which the Fiscal Agent may be merged or with which it may be consolidated or any corporation resulting from any merger or consolidation to which the Fiscal Agent shall be a party or any corporation to which all the business and assets of the Fiscal Agent may be transferred shall be a successor fiscal agent hereunder without further act.

Appointment of Successor Fiscal Agent. If at any time the Fiscal Agent shall resign or be removed or become unable to act as Fiscal Agent, the State will appoint a successor fiscal agent hereunder. Such appointment shall be evidenced by a Direction of the State delivered to the new fiscal agent. The State shall give notice to the retiring Fiscal Agent of such appointment before such appointment shall become effective. The State shall also give notice of such appointment to Bondholders by appropriate means determined by the State, but the failure to give such notice shall not affect the sufficiency of such appointment. Until the appointment of a successor fiscal agent has become effective, the retiring Fiscal Agent shall continue to perform its duties hereunder for the same compensation as in effect at that time. After the appointment of a successor fiscal agent has become effective, the retiring Fiscal Agent shall, subject to the provisions of Section 6.7 below6.7, cease to act as such hereunder, and upon payment of its compensation and expenses then unpaid, shall deliver and pay over to its successor any and all monies and other property then in its possession hereunder as such Fiscal Agent. If a notice of the appointment of a successor fiscal agent shall not have been delivered to the retiring Fiscal Agent within six months after giving of such notice of resignation, the resigning Fiscal Agent may petition any court of competent jurisdiction for the appointment of a successor fiscal agent. In the event such court of competent jurisdiction refuses to appoint a successor fiscal agent, the Fiscal Agent may resign, effective immediately. 30 Any corporation into which the Fiscal Agent may be merged or with which it may be consolidated or any corporation resulting from any merger or consolidation to which the Fiscal Agent shall be a party or any corporation to which all the business and assets of the Fiscal Agent may be transferred shall be a successor fiscal agent hereunder without further act.

Appointment of Successor Fiscal Agent. If at any time the Fiscal Agent shall resign or be removed or become unable to act as Fiscal Agent, the State will appoint a successor fiscal agent hereunder. Such appointment shall be evidenced by a Direction of the State delivered to the new fiscal agent. The State shall give notice to the retiring Fiscal Agent of such appointment before such appointment shall become effective. The State shall also give notice of such appointment to Bondholders by appropriate means determined by the State, but the failure to give such notice shall not affect the sufficiency of such appointment. Until the appointment of a successor fiscal agent has become effective, the retiring Fiscal Agent shall continue to perform its duties hereunder for the same compensation as in effect at that time. After the appointment of a successor fiscal agent has become effective, the retiring Fiscal Agent shall, subject to the provisions of Section 6.7 below, cease to act as such hereunder, and upon payment of its compensation and expenses then unpaid, shall deliver and pay over to its successor any and all monies and other property then in its possession hereunder as such Fiscal Agent. If a notice of the appointment of a successor fiscal agent shall not have been delivered to the retiring Fiscal Agent within six months after giving of such notice of resignation, the resigning Fiscal Agent may petition any court of competent jurisdiction for the appointment of a successor fiscal agent. In the event such court of competent jurisdiction refuses to appoint a successor fiscal agent, the Fiscal Agent may resign, effective immediately. 30 Any corporation into which the Fiscal Agent may be merged or with which it may be consolidated or any corporation resulting from any merger or consolidation to which the Fiscal Agent shall be a party or any corporation to which all the business and assets of the Fiscal Agent may be transferred shall be a successor fiscal agent hereunder without further act.