Common use of Collateral Custodian Removal Clause in Contracts

Collateral Custodian Removal. The Collateral Custodian may be removed, with or without cause, by the Administrative Agent by thirty (30) days’ notice given in writing to the Collateral Custodian (the “Collateral Custodian Termination Notice”); provided that, notwithstanding its receipt of a Collateral Custodian Termination Notice, the Collateral Custodian shall continue to act in such capacity until a successor Collateral Custodian has been appointed, has agreed to act as Collateral Custodian hereunder, and has received all Required Loan Documents held by the previous Collateral Custodian.

Collateral Custodian Removal. The Collateral Custodian may be removed, with or without cause, by mutual agreement of the Borrower and the Administrative Agent by thirty (30) 30 days’ (or such shorter period of time as agreed to by the Borrower) prior written notice given in writing to the Collateral Custodian (the “Collateral Custodian Termination Notice”); provided that, notwithstanding its receipt . In the event no successor Collateral Custodian shall have been appointed within 30 days after the giving of a the Collateral Custodian Termination Notice, the Collateral Custodian shall continue may petition any court of competent jurisdiction to act in such capacity until appoint a successor Collateral Custodian has been appointed, has agreed to act as Collateral Custodian hereunder, and has received all Required Loan Documents held by the previous Collateral Custodian.

Collateral Custodian Removal. The Collateral Custodian may be removed, with or without cause, by the Administrative Agent by thirty (30) days’ notice given in writing to the Collateral Custodian (the “Collateral Custodian Termination Notice”); provided that, notwithstanding its receipt of a Collateral Custodian Termination Notice, the Collateral Custodian shall continue to act in such capacity until a successor Collateral Custodian has been appointed, appointed and has agreed to act as Collateral Custodian hereunder, and has received all Required Loan Documents held by the previous Collateral Custodian.