Common use of Removal or Resignation of Collateral Custodian Clause in Contracts

Removal or Resignation of Collateral Custodian. (a) The Collateral Custodian may at any time resign and terminate its obligations under this Agreement upon at least 30 days’ prior written notice to the Collateral Manager, the Borrower and the Agent and each Lender Agent; provided, that no resignation or removal of the Collateral Custodian will be permitted unless a successor Collateral Custodian has been appointed which successor Collateral Custodian, so long as no Unmatured Collateral Manager Event of Default, Collateral Manager Event of Default, Unmatured Event of Default or Event of Default has occurred and is continuing, is reasonably acceptable to the Collateral Manager. Promptly after receipt of notice of the Collateral Custodian’s resignation, the Agent shall promptly appoint a successor Collateral Custodian by written instrument, in duplicate, copies of which instrument shall be delivered to the Borrower, the Collateral Manager, each Agent, the resigning Collateral Custodian and to the successor Collateral Custodian.

Removal or Resignation of Collateral Custodian. (a) The Collateral Custodian may at any time resign and terminate its obligations under this Agreement upon at least 30 60 days’ prior written notice to the Collateral Investment Manager, the Borrower and the Facility Agent and each Lender Agent; provided, that no resignation or removal of the Collateral Custodian will be permitted unless a successor Collateral Custodian has been appointed which successor Collateral Custodian, so long as no Unmatured Collateral Investment Manager Event of Default, Collateral Investment Manager Event of Default, Unmatured Facility Termination Event of Default or Facility Termination Event of Default has occurred and is continuing, is reasonably acceptable to the Collateral Investment Manager. Promptly after receipt of notice of the Collateral Custodian’s resignation, the Facility Agent shall promptly appoint a successor Collateral Custodian by written instrument, in duplicate, copies of which instrument shall be delivered to the Borrower, the Collateral Investment Manager, each Agent, the resigning Collateral Custodian and to the successor Collateral Custodian.

Removal or Resignation of Collateral Custodian. (a) The Collateral Custodian may at any time resign and terminate its obligations under this Agreement upon at least 30 60 days’ prior written notice to the Collateral Investment Manager, the Borrower and the Administrative Agent and each Lender AgentAgent and Morningstar; provided, that no resignation or removal of the Collateral Custodian will be permitted unless a successor Collateral Custodian has been appointed which successor Collateral Custodian, so long as no Unmatured Collateral Investment Manager Event of Default, Collateral Investment Manager Event of Default, Unmatured Facility Termination Event of Default or Facility Termination Event of Default has occurred and is continuing, is reasonably acceptable to the Collateral Investment Manager. Promptly after receipt of notice of the Collateral Custodian’s resignation, the Administrative Agent shall promptly appoint a successor Collateral Custodian by written instrument, in duplicate, copies of which instrument shall be delivered to the Borrower, the Collateral Investment Manager, each Agent, the resigning Collateral Custodian and to the successor Collateral Custodian.

Removal or Resignation of Collateral Custodian. (a) The Collateral Custodian may at any time resign and terminate its obligations under this Agreement upon at least 30 60 days’ prior written notice to the Collateral Investment Manager, the Borrower and the Agent and each Lender Administrative Agent; provided, that no resignation or removal of the Collateral Custodian will be permitted unless a successor Collateral Custodian has been appointed which successor Collateral Custodian, so long as no Unmatured Collateral Investment Manager Event of Default, Collateral Investment Manager Event of Default, Unmatured Facility Termination Event of Default or Facility Termination Event of Default has occurred and is continuing, is reasonably acceptable to the Collateral Investment Manager. Promptly after receipt of notice of the Collateral Custodian’s resignation, the Administrative Agent shall promptly appoint a successor Collateral Custodian by written instrument, in duplicate, copies of which instrument shall be delivered to the Borrower, the Collateral Investment Manager, each Agent, the resigning Collateral Custodian and to the successor Collateral Custodian.

Removal or Resignation of Collateral Custodian. (a) The After the expiration of the 180-day period commencing on the date hereof, the Collateral Custodian may at any time resign and terminate its obligations under this Agreement upon at least 30 60 days’ prior written notice to the Collateral ManagerServicer, the Borrower and the Agent and each Lender Facility Agent; provided, that no resignation or removal of the Collateral Custodian will be permitted unless a successor Collateral Custodian has been appointed which successor Collateral Custodian, so long as no Unmatured Collateral Manager Event of Servicer Default, Collateral Manager Event of Servicer Default, Unmatured Event of Default or Event of Default has occurred and is continuing, is reasonably acceptable to the Collateral ManagerServicer. Promptly after receipt of notice of the Collateral Custodian’s resignation, the Facility Agent shall promptly appoint a successor Collateral Custodian by written instrument, in duplicate, copies of which instrument shall be delivered to the Borrower, the Collateral Manager, each AgentServicer, the resigning Collateral Custodian and to the successor Collateral Custodian.

Removal or Resignation of Collateral Custodian. (a) The After the expiration of the 180-day period commencing on the date hereof, the Collateral Custodian may at any time resign and terminate its obligations under this Agreement upon at least 30 60 days’ prior written notice to the Collateral ManagerServicer, the Borrower and the Agent and each Lender Facility Agent; provided, that no resignation or removal of the Collateral Custodian will be permitted unless a successor Collateral Custodian has been appointed which successor Collateral Custodian, Custodian is reasonably acceptable to the Servicer (so long as no Unmatured Collateral Manager Event of Default, Collateral Manager Event of Default, Unmatured Event of Default or Event of Default has occurred and is continuing, is reasonably acceptable to ) and the Collateral ManagerFacility Agent. Promptly after receipt of notice of the Collateral Custodian’s resignation, the Facility Agent shall promptly appoint a successor Collateral Custodian by written instrument, in duplicate, copies of which instrument shall be delivered to the Borrower, the Collateral ManagerServicer, each the Facility Agent, the resigning Collateral Custodian and to the successor Collateral Custodian.

Removal or Resignation of Collateral Custodian. (a) The Collateral Custodian may at any time resign and terminate its obligations under this Agreement upon at least 30 days’ prior written notice to the Collateral ManagerServicer, the Borrower and the Facility Agent and each Lender Agent; provided, that no resignation or removal of the Collateral Custodian will be permitted unless a successor Collateral Custodian has been appointed which successor Collateral Custodian, so long as no Unmatured Collateral Manager Servicer Event of Default, Collateral Manager Servicer Event of Default, Unmatured Facility Termination Event of Default or Facility Termination Event of Default has occurred and is continuing, is reasonably acceptable to the Collateral ManagerServicer. Promptly after receipt of notice of the Collateral Custodian’s resignation, the Facility Agent shall promptly appoint a successor Collateral Custodian by written instrument, in duplicate, copies of which instrument shall be delivered to the Borrower, the Collateral ManagerServicer, each Agent, the resigning Collateral Custodian and to the successor Collateral Custodian.

Removal or Resignation of Collateral Custodian. (a) The After the expiration of the 180-day period commencing on the Existing Effective Date, the Collateral Custodian may at any time resign and terminate its obligations under this Agreement upon at least 30 60 days’ prior written notice to the Collateral ManagerServicer, the Borrower and the Agent and each Lender Administrative Agent; provided, that no resignation or removal of the Collateral Custodian will be permitted unless a successor Collateral Custodian has been appointed which successor Collateral Custodian, so long as no Unmatured Collateral Manager Event of Servicer Default, Collateral Manager Event of Servicer Default, Unmatured Event of Default or Event of Default has occurred and is continuing, is reasonably acceptable to the Collateral ManagerServicer. Promptly after receipt of notice of the Collateral Custodian’s resignation, the Administrative Agent shall promptly appoint a successor Collateral Custodian by written instrument, in duplicate, copies of which instrument shall be delivered to the Borrower, the Collateral Manager, each AgentServicer, the resigning Collateral Custodian and to the successor Collateral Custodian.

Removal or Resignation of Collateral Custodian. (a) The Collateral Custodian may at any time resign and terminate its obligations under this Agreement upon at least 30 60 days’ prior written notice to the Collateral ManagerServicer, the Borrower and the Facility Agent and each Lender Agent; provided, that no resignation or removal of the Collateral Custodian will be permitted unless a successor Collateral Custodian has been appointed which successor Collateral Custodian, so long as no Unmatured Collateral Manager Servicer Event of Default, Collateral Manager Servicer Event of Default, Unmatured Facility Termination Event of Default or Facility Termination Event of Default has occurred and is continuing, is reasonably acceptable to the Collateral ManagerServicer. Promptly after receipt of notice of the Collateral Custodian’s resignation, the Facility Agent shall promptly appoint a successor Collateral Custodian by written instrument, in duplicate, copies of which instrument shall be delivered to the Borrower, the Collateral ManagerServicer, each Agent, the resigning Collateral Custodian and to the successor Collateral Custodian.

Removal or Resignation of Collateral Custodian. (a) The Collateral Custodian may at any time resign and terminate its obligations under this Agreement upon at least 30 6030 days’ prior written notice to the Collateral ManagerServicer, the Borrower and the Facility Agent and each Lender Agent; provided, that no resignation or removal of the Collateral Custodian will be permitted unless a successor Collateral Custodian has been appointed which successor Collateral Custodian, so long as no Unmatured Collateral Manager Servicer Event of Default, Collateral Manager Servicer Event of Default, Unmatured Facility Termination Event of Default or Facility Termination Event of Default has occurred and is continuing, is reasonably acceptable to the Collateral ManagerServicer. Promptly after receipt of notice of the Collateral Custodian’s resignation, the Facility Agent shall promptly appoint a successor Collateral Custodian by written instrument, in duplicate, copies of which instrument shall be delivered to the Borrower, the Collateral ManagerServicer, each Agent, the resigning Collateral Custodian and to the successor Collateral Custodian.

Removal or Resignation of Collateral Custodian. (a) The After the expiration of the 180‑day period commencing on the date hereof, the Collateral Custodian may at any time resign and terminate its obligations under this Agreement upon at least 30 60 days’ prior written notice to the Collateral ManagerServicer, the Borrower and the Agent and each Lender Administrative Agent; provided, that no resignation or removal of the Collateral Custodian will be permitted unless a successor Collateral Custodian has been appointed which successor Collateral Custodian, so long as no Unmatured Collateral Manager Event of Servicer Default, Collateral Manager Event of Servicer Default, Unmatured Event of Default or Event of Default has occurred and is continuing, is reasonably acceptable to the Collateral ManagerServicer. Promptly after receipt of notice of the Collateral Custodian’s resignation, the Administrative Agent shall promptly appoint a successor Collateral Custodian by written instrument, in duplicate, copies of which instrument shall be delivered to the Borrower, the Collateral Manager, each AgentServicer, the resigning Collateral Custodian and to the successor Collateral Custodian.

Removal or Resignation of Collateral Custodian. (a) The After the expiration of the 180‑day period commencing on the Existing Effective Date, the Collateral Custodian may at any time resign and terminate its obligations under this Agreement upon at least 30 60 days’ prior written notice to the Collateral ManagerServicer, the Borrower and the Agent and each Lender Administrative Agent; provided, that no resignation or removal of the Collateral Custodian will be permitted unless a successor Collateral Custodian has been appointed which successor Collateral Custodian, so long as no Unmatured Collateral Manager Event of Servicer Default, Collateral Manager Event of Servicer Default, Unmatured Event of Default or Event of Default has occurred and is continuing, is reasonably acceptable to the Collateral ManagerServicer. Promptly after receipt of notice of the Collateral Custodian’s resignation, the Administrative Agent shall promptly appoint a successor Collateral Custodian by written instrument, in duplicate, copies of which instrument shall be delivered to the Borrower, the Collateral Manager, each AgentServicer, the resigning Collateral Custodian and to the successor Collateral Custodian.

Removal or Resignation of Collateral Custodian. (a) The After the expiration of the 180‑day period commencing on the date hereof, the Collateral Custodian may at any time resign and terminate its obligations under this Agreement upon at least 30 60 days’ prior written notice to the Collateral ManagerServicer, the Borrower and the Agent and each Lender Facility Agent; provided, that no resignation or removal of the Collateral Custodian will be permitted unless a successor Collateral Custodian has been appointed which successor Collateral Custodian, so long as no Unmatured Collateral Manager Event of Servicer Default, Collateral Manager Event of Servicer Default, Unmatured Event of Default or Event of Default has occurred and is continuing, is reasonably acceptable to the Collateral ManagerServicer. Promptly after receipt of notice of the Collateral Custodian’s resignation, the Facility Agent shall promptly appoint a successor Collateral Custodian by written instrument, in duplicate, copies of which instrument shall be delivered to the Borrower, the Collateral Manager, each AgentServicer, the resigning Collateral Custodian and to the successor Collateral Custodian.