Common use of Collateral Agent Removal Clause in Contracts

Collateral Agent Removal. The Collateral Agent may be removed, with or without cause, by the Administrative Agent upon at least sixty (60) days’ notice given in writing to the Collateral Agent and the Lenders (the “Collateral Agent Termination Notice”); provided that notwithstanding its receipt of a Collateral Agent Termination Notice, the Collateral Agent shall continue to act in such capacity until a successor Collateral Agent has been appointed in accordance with the requirements of Sections 5.5(d) and 7.7.

Collateral Agent Removal. The Collateral Agent may be removed, with or without cause, by the Administrative Agent upon at least sixty (60i) by 30 days’ notice given in writing to the Collateral Agent and Agent, the Lenders (the “Collateral Agent Termination Notice”)) and the Borrower and (ii) so long as an Event of Default has not occurred and is continuing, with the consent of the Borrower; provided that notwithstanding its receipt of a Collateral Agent Termination Notice, the Collateral Agent shall continue to act in such capacity until a successor Collateral Agent has been appointed in accordance with the requirements of Sections 5.5(d) and 7.7.appointed, has agreed to act as Collateral

Collateral Agent Removal. The Collateral Agent may be removed, with or without cause, by the Administrative Agent upon at least sixty (60) days’ notice given in writing to the Collateral Agent and the Lenders (the “Collateral Agent Termination Notice”); provided that notwithstanding its receipt of a Collateral Agent Termination Notice, the Collateral Agent shall continue to act in such capacity until a successor Collateral Agent has been appointed in accordance with the requirements of Sections 5.5(d) and 7.7.. -108- USActive 57310676.6USActive 60324964.3