Common use of Condition to Resignation and Termination Clause in Contracts

Condition to Resignation and Termination. No such resignation or (subject to sub-Clause 21.5) termination of the appointment of the Issuing and Paying Agent, Registrar, the CMU Lodging Agent or Calculation Agent (in respect of each applicable Series) shall, however, take effect until a new Issuing and Paying Agent (which shall be a bank or trust company) or, as the case may be, Registrar or Calculation Agent (in respect of each such Series) has been appointed and no resignation or termination of the appointment of a Paying Agent or Transfer Agent or CMU Lodging Agent shall take effect if there would not then be Paying Agents or Transfer Agents as required by the Conditions. The relevant Issuer agrees with the Issuing and Paying Agent and the Trustee that if, by the expiry of any notice under Clause 21.1, such Issuer has not appointed a successor Issuing and Paying Agent, then the Issuing and Paying Agent shall be entitled, on behalf of such Issuer, to appoint as a successor Issuing and Paying Agent in its place a reputable financial institution of good standing subject to the approval of the relevant Issuer and the Trustee.

Condition to Resignation and Termination. No such resignation or (subject to sub-Clause 21.5) termination of the appointment of the Issuing and Paying Agent, Registrar, the CMU Lodging Agent or Calculation Agent (in respect of each applicable Series) shall, however, take effect until a new Issuing and Paying Agent (which shall be a bank or trust company) or, as the case may be, Registrar or Calculation Agent (in respect of each such Series) has been appointed and no resignation or termination of the appointment of a Paying Agent or Transfer Agent or CMU Lodging Agent shall take effect if there would not then be Paying Agents or Transfer Agents as required by the Conditions. The relevant Issuer agrees with the Issuing and Paying Agent and the Trustee that if, by the expiry of any notice under Clause 21.1, such Issuer has not appointed a successor Issuing Xxxxxxx and Paying Agent, then the Issuing and Paying Agent shall be entitled, on behalf of such Issuer, to appoint as a successor Issuing Xxxxxxx and Paying Agent in its place a reputable financial institution of good standing subject to the approval of the relevant Issuer and the Trustee.

Condition to Resignation and Termination. No such resignation or (subject to sub-Clause 21.5) termination of the appointment of the Issuing and Paying Agent, Registrar, the CMU Lodging Agent or Calculation Agent (in respect of each applicable Series) shall, however, take effect until a new Issuing and Paying Agent (which shall be a bank or trust company) or, as the case may be, Registrar or Calculation Agent (in respect of each such Series) has been appointed and no resignation or termination of the appointment of a Paying Agent or Transfer Agent or CMU Lodging Agent shall take effect if there would not then be Paying Agents or Transfer Agents as required by the Conditions. The relevant Issuer agrees with the Issuing and Paying Agent and the Trustee that if, by the expiry of any notice under Clause 21.1, such Issuer has not appointed a successor Issuing Xxxxxxx and Paying Agent, then the Issuing and Paying Agent shall be entitled, on behalf of such Issuer, to appoint as a successor Issuing Xxxxxxx and Paying Agent in its place a reputable financial institution of good standing subject to the approval of the relevant Issuer and the Trustee.

Condition to Resignation and Termination. No such resignation or (subject to sub-Clause 21.5) termination of the appointment of the Issuing and Paying Agent, Registrar, the CMU Lodging Agent or Calculation Agent (in respect of each applicable Series) shall, however, take effect until a new Issuing and Paying Agent (which shall be a bank or trust company) or, as the case may be, Registrar or Calculation Agent (in respect of each such Series) has been appointed and no resignation or termination of the appointment of a Paying Agent or Transfer Agent or CMU Lodging Agent shall take effect if there would not then be Paying Agents or Transfer Agents as required by the Conditions. The relevant Issuer agrees with the Issuing and Paying Agent and the Trustee that if, by the expiry of any notice under Clause 21.1, such Issuer has not appointed a successor Issuing and Paying Agent, then the Issuing and Paying Agent shall be entitled, on behalf of such Issuer, to appoint as a successor Issuing and Paying Agent in its place a reputable financial institution of good standing subject to the approval of the relevant Issuer and the Trustee.