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 or its appointment is terminated by the Issuer and/or the Guarantor and by the tenth calendar day before the expiration of such notice of resignation / termination a successor to such Agent as the agent of the Issuer in relation to the Notes has not been appointed by the Issuer, such Agent may itself, following such consultation with the Issuer as may be practicable in the circumstances, appoint on the Issuer’s behalf as its successor any reputable and experienced bank or financial institution and give notice of such appointment at the expense of the Issuer in accordance with the Conditions, whereupon the parties hereto and such successor agent shall thereafter have the same rights and obligations among them as would have been the case had they then entered into an agreement in the form mutatis mutandis of this Agreement.

Condition to Resignation and Termination. No such resignation or (subject to Clause 18.519.5) 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 or its appointment is terminated The Issuer agrees that if, by the Issuer and/or the Guarantor and by the tenth calendar day falling 10 days before the expiration expiry of such any notice of resignation / termination under Clause 19.2, the Issuer has not appointed a successor to the Agent to which such Agent as notice relates, the agent of the Issuer in relation to the Notes has not been appointed by the Issuer, such relevant Agent may itself, itself following such consultation with the Issuer as may be is practicable in the circumstances, circumstances appoint on the Issuer’s behalf as its successor any reputable and experienced bank or financial institution and give notice of such appointment at to the expense of Issuer, the Issuer in accordance with remaining Agents, and the ConditionsNoteholders, whereupon the parties hereto Issuer, the remaining Agents, and such successor agent shall thereafter have the same rights become a party to this Agreement as if originally named in it and obligations among them shall act as would have been the case had they then entered into an agreement such Agent in the form mutatis mutandis respect of this Agreementthat or those Series of Notes in respect of which it is appointed.