Common use of Removal of the Administrative Agent Clause in Contracts

Removal of the Administrative Agent. So long as any Notes are Outstanding, the Issuer shall not remove the Administrative Agent without cause unless so instructed by the Owner Trustee or the Indenture Trustee and unless each Rating Agency shall have received 10 days' written notice thereof and shall not have notified the Indenture Trustee, the Administrative Agent or the Owner Trustee that such removal might or would result in the removal or reduction of the rating, if any, then assigned thereby to any Class of Notes or the Trust Certificates.

Removal of the Administrative Agent. So long as any Notes are Outstanding, the Issuer Issuing Entity shall not remove the Administrative Agent without cause unless so instructed by the Owner Trustee or the Indenture Trustee and unless each Rating Agency shall have received 10 days' written notice thereof and shall not have notified the Indenture Trustee, the Administrative Agent or the Owner Trustee that such removal might or would result in the removal or reduction accordance with Section 1.09 of the rating, if any, then assigned thereby to any Class of Notes or the Trust CertificatesAdministration Agreement.

Removal of the Administrative Agent. So long as any Notes are Outstanding, the Issuer Issuing Entity shall not remove the Administrative Agent without cause unless so instructed by the Owner Trustee or the Indenture Trustee and unless each Rating Agency shall have received 10 days' written notice thereof and shall not have notified the Indenture Trustee, the Administrative Agent or the Owner Trustee that such removal might or would result in the removal or reduction accordance with Section 1.09 of the rating, if any, then assigned thereby to any Class of Notes or the Trust Certificates.Administration Agreement. 28 (NALT 20[●]-[●] Indenture)