Common use of Condition to Resignation and Termination Clause in Contracts

Condition to Resignation and Termination. No resignation or (subject to sub-Clause 13.5) termination of the appointment of the Fiscal Agent or the 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, Calculation Agent (which shall be a bank or trust company) has been appointed and no resignation or termination of the appointment of a Paying Agent shall take effect if there would not then be Paying Agents as required by the Conditions. If, 10 calendar days prior to the expiry of the notice of resignation or termination of appointment of the Agent, a successor Agent has not been appointed by the Issuer, the relevant Agent may appoint a successor Agent on behalf of the Issuer.

Condition to Resignation and Termination. No such resignation or (subject to sub-Clause 13.519.5) termination of the appointment of the Fiscal Agent Principal Paying Agent, Registrar or the Calculation Agent shall, however, take effect until a new Fiscal Principal Paying Agent (which shall be a bank or trust company) or, as the case may be, Registrar or Calculation Agent (which shall be a bank or trust company) 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, If by the day falling 10 calendar days prior to before the expiry of any notice, the notice of resignation or termination of appointment of the Agent, Issuer has not appointed a successor Agent has not been appointed by then the IssuerAgent shall be entitled, the relevant Agent may appoint a successor Agent on behalf of the IssuerIssuer and the Guarantor, to appoint in its place as a successor Agent a reputable financial institution of good standing which the Issuer shall approve.