Common use of Evergy Missouri West Not to Resign as Servicer Clause in Contracts

Evergy Missouri West Not to Resign as Servicer. Subject to the provisions of Section 6.03, Evergy Missouri West shall not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon either (a) a determination by Evergy Missouri West that the performance of its duties under this Agreement shall no longer be permissible under applicable law or (b) satisfaction of the following: (i) the Rating Agency Condition shall have been satisfied and (ii) the MPSC shall have approved such resignation. Notice of any such determination permitting the resignation of Evergy Missouri West pursuant to clause (a) shall be communicated to the Issuer, the Indenture Trustee and the Rating Agencies at the earliest practicable time (and, if such communication is not in writing, shall be confirmed in writing at the earliest practicable time) and any such determination shall be evidenced by an Opinion of Counsel to such effect delivered to the Issuer and the Indenture Trustee, with a copy to the MPSC, concurrently with or promptly after such notice. No such resignation shall become effective until a successor Servicer shall have assumed the responsibilities and obligations of Evergy Missouri West in accordance with Section 7.02. No such resignation shall become effective until a successor Servicer shall have assumed the responsibilities and obligations of Evergy Missouri West in accordance with Section 7.02.

Appears in 4 contracts

Samples: Intercreditor Agreement (Evergy Missouri West Storm Funding I, LLC), Servicing Agreement (Evergy Missouri West Storm Funding I, LLC), Servicing Agreement (Evergy Missouri West Storm Funding I, LLC)

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