Common use of Appointment, Resignation and Removal Clause in Contracts

Appointment, Resignation and Removal. The Secured Parties hereby appoint Imperium Advisers, LLC to act as the Collateral Agent for purposes of exercising any and all rights and remedies of the Secured Parties hereunder. Any person or entity serving as the Collateral Agent may resign as Collateral Agent hereunder at any time by giving written notice thereof to each Secured Party, and such resignation shall become effective upon the effectiveness of the appointment of a successor agent in accordance with Section 16.2. Any person or entity serving as Collateral Agent may be removed at any time or from time to time by the affirmative vote of a Majority in Interest.

Appointment, Resignation and Removal. The Secured Parties hereby appoint Imperium Advisers, LLC LLC, to act as the Collateral Agent for purposes of exercising any and all rights and remedies of the Secured Parties hereunder. Any person or entity serving as the Collateral Agent may resign as Collateral Agent hereunder at any time by giving written notice thereof to each Secured Party, and such resignation shall become effective upon the effectiveness of the appointment of a successor agent in accordance with Section 16.2. Any person or entity serving as Collateral Agent may be removed at any time or from time to time by the affirmative vote of a Majority in Interest.