Common use of Removal of Agent Clause in Contracts

Removal of Agent. Agent may resign at any time upon giving forty-five (45) days prior written notice thereof to Lender and Borrowers. Agent may be removed as Agent hereunder upon the written consent of all Lenders exclusive of Agent upon the following: (i) willful misconduct in the performance of Agent's duties or responsibilities under this Agreement; or (ii) if a receiver, trustee or conservator is appointed for Agent or any state or federal regulatory authority assumes management or control of Agent or if, under applicable law, the administrative or discretionary duties and responsibilities of Agent hereunder become controlled by or subject to the approval of any state or federal regulatory authority. Upon any resignation or permitted removal of Agent, Lender may appoint a successor agent. Upon the acceptance of the appointment as a successor agent hereunder by such successor agent, such successor agent shall thereupon succeed to and become vested with all rights, powers, obligations and duties of the retiring Agent and the retiring Agent shall be discharged from its duties and obligations hereunder.

Removal of Agent. Agent may resign at any time upon giving forty-five thirty (4530) days prior written notice thereof to Lender Lenders and BorrowersBorrowing Agent. Agent may be removed as Agent hereunder upon the written consent of all Lenders exclusive of Agent upon the following: (i) willful misconduct in the performance of Agent's duties or responsibilities under this AgreementAgreement as finally determined by a court of competent jurisdiction; or (ii) if a receiver, trustee or conservator is appointed for Agent or any state or federal regulatory authority assumes management or control of Agent or if, under applicable law, the administrative or discretionary duties and responsibilities of Agent hereunder become controlled by or subject to the approval of any state or federal regulatory authority. Upon any resignation or permitted removal of Agent, Lender may Lenders shall have the right to appoint a successor agentAgent by majority vote of the Lenders (based upon the Pro Rata Percentages of the Lenders). Upon the acceptance of the appointment as a successor agent Agent hereunder by such successor agentAgent, such successor agent Agent shall thereupon succeed to and become vested with all rights, powers, obligations and duties of the retiring Agent and the retiring Agent shall be discharged from its duties and obligations hereunder.

Removal of Agent. Agent may resign at any time upon giving forty-five (45) days prior written notice thereof to Lender and BorrowersBorrower. Agent may be removed as Agent hereunder upon the written consent of all Lenders exclusive of Agent upon the following: (i) willful misconduct in the performance of Agent's duties or responsibilities under this Agreement; or (ii) if a receiver, trustee or conservator is appointed for Agent or any state or federal regulatory authority assumes management or control of Agent or if, under applicable law, the administrative or discretionary duties and responsibilities of Agent hereunder become controlled by or subject to the approval of any state or federal regulatory authority. Upon any resignation or permitted removal of Agent, Lender may appoint a successor agent. Upon the acceptance of the appointment as a successor agent hereunder by such successor agent, such successor agent shall thereupon succeed to and become vested with all rights, powers, obligations and duties of the retiring Agent and the retiring Agent shall be discharged from its duties and obligations hereunder.

Removal of Agent. Agent may resign at any time upon giving forty-five thirty (4530) days prior written notice thereof to Lender Lenders and Borrowers. Agent may be removed as Agent hereunder upon the written consent of all Lenders exclusive of Agent upon the following: (i) willful wilful misconduct in the performance of Agent's duties or responsibilities under this Agreement; or (ii) if a receiver, trustee or conservator is appointed for Agent or any state or federal regulatory authority assumes management or control of Agent or if, under applicable law, the administrative or discretionary duties and responsibilities of Agent hereunder become controlled by or subject to the approval of any state or federal regulatory authority. Upon any resignation or permitted removal of Agent, Lender may Lenders (exclusive of Agent) shall have the right to appoint a successor agentagent by majority vote of the other Lenders (based upon the Pro Rata Percentages of the other Lenders). Upon the acceptance of the appointment as a successor agent hereunder by such successor agent, such successor agent shall thereupon succeed to and become vested with all rights, powers, obligations and duties of the retiring Agent and the retiring Agent shall be discharged from its duties and obligations hereunder.

Removal of Agent. The Agent may resign at any time upon giving forty-five thirty (4530) days prior written notice thereof to Lender Lenders and BorrowersBorrower and upon receipt from Borrower of its written consent to such resignation, which consent shall not be unreasonably withheld. The Agent may be removed as Agent hereunder by the written direction of Majority Lenders (exclusive of Mellon) upon the written consent of all Lenders exclusive of Agent upon the following: following (i) willful misconduct in the performance of Agent's duties or responsibilities under this Agreement; or (ii) if a receiver, trustee or conservator is appointed for Agent or any state or federal regulatory authority assumes management or control of Agent or ifor, if under applicable law, the administrative or discretionary duties and responsibilities of Agent hereunder become controlled by or subject to the approval of any state or federal regulatory authority. Upon any resignation or permitted removal of Agentsuch removal, Lender may the Majority Lenders shall have the right to appoint a successor agentAgent. Upon the acceptance of the appointment as a successor agent Agent hereunder by such successor agentAgent, such successor agent Agent shall thereupon succeed to and become vested with all rights, powers, obligations and duties of the retiring Agent and the retiring Agent shall be discharged from its duties and obligations hereunder.