Common use of Replacement by Bank Representative Clause in Contracts

Replacement by Bank Representative. Concurrently with the effectiveness of the Initial Bank Credit Facility, the Person specified for such purpose in such Facility (who may be the Bank Agent) will, upon execution and delivery of a joinder agreement reasonably satisfactory to the Trustees, become a party to this Agreement and the Collateral Agent hereunder, and the Person named herein as the initial Collateral Agent shall be deemed to have resigned as such at such time.

Replacement by Bank Representative. Concurrently with the effectiveness of the Initial a Bank Credit Facility, the Person Person, if any, specified for such purpose in such Facility (who may be the Bank Agent) will, at the election of such Person and upon execution and delivery of a joinder agreement reasonably satisfactory to the Trustees, become a party to this Agreement and the Collateral Agent hereunder, and and, in such event, the Person named herein as the initial Collateral Agent shall be deemed to have resigned as such at such time.

Replacement by Bank Representative. Concurrently with the effectiveness of the Initial Bank Credit Facility, the Person Person, if any, specified for such purpose in such Facility (who may be the Bank Agent) will, upon execution and delivery of a joinder agreement reasonably satisfactory to the Trustees, become a party to this Agreement and the Collateral Agent hereunder, and and, in such event, the Person named herein as the initial Collateral Agent shall be deemed to have resigned as such at such time.