Common use of Change of Escrow Agent Clause in Contracts

Change of Escrow Agent. Section 6.01. A national banking association located in the United States or a state bank or trust company organized under the laws of a state of the United States, qualified as a depository of public funds, may be substituted to act as Escrow Agent under this Escrow Agreement upon agreement of the parties hereto. Such substitution shall not be deemed to affect the rights or obligations of the parties. Upon any such substitution, the Escrow Agent agrees to assign to such substitute Escrow Agent its rights under this Escrow Agreement and transfer the Escrow Fund. Section 6.02. The Escrow Agent or any successor may at any time resign by giving mailed notice to ▇▇▇▇▇▇ and Lessor of its intention to resign and of the proposed date of resignation, which shall be a date not less than 30 days after such notice is deposited in the United States mail with postage fully prepaid, unless an earlier resignation date and the appointment of a successor ▇▇▇▇▇▇ Agent shall have been or are approved by ▇▇▇▇▇▇ and Lessor. Section 6.03. The Escrow Agent may appoint an agent to exercise any of the powers, rights or remedies granted to the Escrow Agent under this Escrow Agreement, and to hold title to property or take any other action which may be desirable or necessary.

Change of Escrow Agent. Section 6.01. A national banking association located in the United States or a state bank or trust company organized under the laws of a state of the United States, qualified as a depository of public funds, may be substituted to act as Escrow Agent under this Escrow Agreement upon agreement of the parties hereto. Such substitution shall not be deemed to affect the rights or obligations of the parties. Upon any such substitution, the Escrow Agent agrees to assign to such substitute Escrow Agent its rights under this Escrow Agreement and transfer the Escrow FundAgreement. Section 6.02. The Escrow Agent or any successor may at any time resign by giving mailed notice to ▇▇▇▇▇▇ Borrower, Issuer, Bank and Lessor Lender of its intention to resign and of the proposed date of resignation, which shall be a date not less than 30 thirty (30) days after such notice is deposited in the United States mail with postage fully prepaid, unless an earlier resignation date and the appointment of a successor ▇▇▇▇▇▇ Escrow Agent shall have been or are approved by ▇▇▇▇▇▇ Borrower, Issuer, Bank and LessorLender. Section 6.03. The Escrow Agent may appoint an agent to exercise any of the powers, rights or remedies granted to the Escrow Agent under this Escrow Agreement, and to hold title to property or to take any other action which may be desirable or necessary.

Change of Escrow Agent. Section 6.01. A national banking association located in the United States or a state bank or trust company organized under the laws of a state of the United States, qualified as a depository of public funds, may be substituted to act as Escrow Agent under this Escrow Agreement upon agreement of the parties heretoIssuer, Lessee and Bondholder. Such substitution shall not be deemed to affect the rights or obligations of the parties. Upon any such substitution, the Escrow Agent agrees to assign to such substitute Escrow Agent its rights under this Escrow Agreement and transfer the Escrow FundAgreement. Section 6.02. The Escrow Agent or any successor may at any time resign by giving mailed notice to ▇▇▇▇▇▇ Lessee and Lessor Bondholder of its intention to resign and of the proposed date of resignation, which shall be a date not less than 30 days after such notice is deposited in the United States mail with postage fully prepaid, unless an earlier resignation date and the appointment of a successor ▇▇▇▇▇▇ Escrow Agent shall have been or are approved by ▇▇▇▇▇▇ Lessee, Issuer and LessorBondholder. Section 6.03. The Escrow Agent may appoint an agent to exercise any of the powers, rights or remedies granted to the Escrow Agent under this Escrow Agreement, and to hold title to property or to take any other action which may be desirable or necessary.