Common use of Condition to Resignation and Termination Clause in Contracts

Condition to Resignation and Termination. No such resignation or (subject to Clause 18.5) termination of the appointment of the Fiscal Agent, Registrar or Calculation Agent shall, however, take effect until a new Fiscal Agent (which shall be a bank or trust company) or, as the case may be, Registrar or Calculation Agent has been appointed and no resignation or termination of the appointment of a Paying Agent or Transfer Agent shall take effect if there would not then be Paying Agents or Transfer Agents as required by the Conditions. If any Agent gives notice of its resignation in accordance with Clause 18.2 and by the tenth day before the expiry of such notice a successor has not been duly appointed in accordance with this Clause 18 then the Agent may itself, following such consultation with the Issuer as is practicable in the circumstances, appoint as its successor any reputable and experienced financial institution and give notice of such appointment to the Issuer, the remaining Agents and the Noteholders, and the successor Agent shall acquire and become subject to the same rights and obligations as if it had entered into an agreement in the form mutatis mutandis of this Agreement.

Condition to Resignation and Termination. No such resignation or (subject to Clause 18.5) termination of the appointment of the Fiscal Agent, Registrar or Calculation Agent shall, however, take effect until a new Fiscal Agent (which shall be a bank or trust company) or, as the case may be, Registrar or Calculation Agent has been appointed and no resignation or termination of the appointment of a Paying Agent or Transfer Agent shall take effect if there would not then be Paying Agents or Transfer Agents as required by the Conditions. If any The Issuer agrees with each Agent gives notice of its resignation in accordance with Clause 18.2 and that if, by the tenth day falling 10 days before the expiry of such any notice a successor under Clause 18.2, the Issuer has not been duly appointed in accordance with this Clause 18 a replacement Agent, then the relevant Agent may itselfshall be entitled, following such consultation with the Issuer as is practicable in the circumstances, appoint as its successor any reputable and experienced financial institution and give notice on behalf of such appointment to the Issuer, the remaining Agents to appoint in its place any reputable financial institution of good standing and the NoteholdersIssuer shall not unreasonably object to such appointment. Notwithstanding the foregoing, the Issuer shall not be required to appoint or maintain the appointment of any Agent if there are no Notes outstanding and the successor Agent shall acquire and become subject Issuer does not intend to issue Notes under the same rights and obligations as if it had entered into an agreement in the form mutatis mutandis of this AgreementProgramme.

Condition to Resignation and Termination. No such resignation or (subject to Clause 18.519.5) termination of the appointment of the Fiscal Agent, Registrar or Calculation Agent shall, however, take effect until a new Fiscal Agent (which shall be a bank or trust company) or, as the case may be, Registrar or Calculation Agent has been appointed and no resignation or termination of the appointment of a Paying Agent or Transfer Agent shall take effect if there would not then be Paying Agents or Transfer Agents as required by the Conditions. If any Agent gives notice of its resignation in accordance with Clause 18.2 and The Issuer agrees that if, by the tenth day falling 10 days before the expiry of any notice under Clause 19.2, the Issuer has not appointed a successor to the Agent to which such notice a successor has not been duly appointed in accordance with this Clause 18 then relates, the relevant Agent may itself, itself following such consultation with the Issuer as is practicable in the circumstances, circumstances appoint as its successor any reputable and experienced financial institution and give notice of such appointment to the Issuer, the remaining Agents Agents, and the Noteholders, whereupon the Issuer, the remaining Agents, and the such successor Agent shall acquire and become subject a party to the same rights and obligations this Agreement as if originally named in it had entered into an agreement and shall act as such Agent in the form mutatis mutandis respect of this Agreementthat or those Series of Notes in respect of which it is appointed.

Condition to Resignation and Termination. No such resignation or (subject to sub-Clause 18.513.5) termination of the appointment of the Fiscal Agent, Registrar or Calculation Agent shall, however, take effect until a new Fiscal Agent (which shall be a bank or trust company) or, as the case may be, Registrar or Calculation Agent has been appointed and no resignation or termination of the appointment of a Paying Agent or Transfer Agent shall take effect if there would not then be Paying Agents or Transfer Agents as required by the Conditions. If any Agent gives notice of its resignation in accordance with Clause 18.2 13.2 and by the tenth day before the expiry of such notice a successor has not been duly appointed in accordance with this Clause 18 then the appointed, such Agent may itself, following such consultation with the Issuer as is practicable in the circumstances, appoint on behalf of the Issuer as its successor any reputable and experienced financial institution that complies with the eligibility requirements of the clearing systems and give notice of such appointment to the Issuer, the remaining Agents and the Noteholders, whereupon the Issuer, the remaining Agents and the such successor Agent shall acquire and become subject to the same rights and obligations between themselves as if it they had entered into an agreement in the form mutatis mutandis of this Agreement.