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, the Principal Paying Agent, Registrar or Calculation Agent shall, however, take effect until a replacement Fiscal Agent (which shall be a bank or trust company) or, as the case may be, Principal Paying Agent, 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 no replacement Agent has been appointed by the Issuer within 45 days of a notice of resignation being given by any Agent, then such Agent may, on behalf of the Issuer, appoint a replacement Agent against whom the Issuer has no reasonable objection with effect from a date on or after the date scheduled for the resignation of such Agent (and provided that the notice required by Clause 18.8 is given to Noteholders), so that upon such resignation there would be Agents as required by the Conditions and/or this Clause.

Condition to Resignation and Termination. no such No resignation or (subject to Clause 18.514.5) termination of the appointment of the Fiscal Agent, the Principal Paying Agent, Registrar Agent or Calculation Agent shall, however, take effect until a replacement of the Fiscal Agent (which shall be a bank or a trust company), the Paying Agent (which shall be a Participant to the NBB-SSS) or, as the case may be, Principal Paying Agent, 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 no replacement Agent has been appointed by the Issuer within 45 days of a notice of resignation being given by any Agent, then such Agent may, on behalf of the Issuer, appoint a replacement Agent against whom the Issuer has no does not have any reasonable objection with effect from a date on or after the date scheduled for the resignation of such Agent (and provided that the notice required by Clause 18.8 14.8 is given to the Noteholders), so that upon such resignation there would be Agents as required by the Conditions and/or this ClauseClause 14.3.