Common use of Custodian Removal Clause in Contracts

Custodian Removal. The Custodian may be removed, with or without cause, by the Administrative Agent upon at least sixty (60) days’ notice given in writing to the Custodian and the Lenders (the “Custodian Termination Notice”); provided that notwithstanding its receipt of a Custodian Termination Notice, the Custodian shall continue to act in such capacity until a successor Custodian has been appointed in accordance with the requirements of Sections 5.5(d) and 13.10, and has received all Underlying Instruments held by the previous Custodian. In the case of a resignation or removal of the Custodian, if no successor shall have been appointed and an instrument of acceptance by a successor shall not have been delivered to the Custodian within 90 days after the giving of such notice of resignation or removal, the Custodian may petition any court of competent jurisdiction for the appointment of a successor Custodian.

Custodian Removal. The Custodian may be removed, with or without cause, by the Administrative Agent upon at least sixty (60) days’ notice given in writing to the Custodian and the Lenders (the “Custodian Termination Notice”); provided that notwithstanding its receipt of a Custodian Termination Notice, the Custodian shall continue to act in such capacity until a successor Custodian has been appointed in accordance with the requirements of Sections 5.5(d) and 13.10, and has received all Underlying Instruments held by the previous Custodian. In the case of a resignation or removal of the Custodian, if no successor shall have been appointed and an instrument of acceptance by a successor shall not have been delivered to the Custodian within 90 days after the giving of such notice of resignation or removal, the Custodian may petition any court of competent jurisdiction for the appointment of a successor CustodianXxxxxxxxx.

Custodian Removal. The Custodian may be removed, with or without cause, by the Administrative Agent upon at least sixty (60) days’ notice given in writing to the Custodian and the Lenders (the “Custodian Termination Notice”); provided that notwithstanding its receipt of a Custodian Termination Notice, the Custodian shall continue to act in such capacity until a successor Custodian has been appointed in accordance with the requirements of Sections 5.5(d) and 13.10, and has received all Underlying Instruments held by the previous Custodian. In the case of a resignation or removal of the Custodian, if no successor shall have been appointed and an instrument of acceptance by a successor shall not have been delivered to the Custodian within 90 days after the giving of such notice of resignation or removal, the Custodian may petition any court of competent jurisdiction for the appointment of a successor Custodian.Xxxxxxxxx. 164