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.