Common use of Replacement by Trustee Clause in Contracts

Replacement by Trustee. If upon the occurrence of the Bank Credit Facility Payment Date, one of the Trustees is not then serving as the Collateral Agent, the Trustees may, by order or orders executed by the Trustees, replace the then serving Collateral Agent with one of the Trustees, as specified in such order or orders, and in such event such Collateral Agent shall be deemed to have resigned at such time.

Replacement by Trustee. If upon Upon the occurrence of the Bank Credit Facility Payment Date, one of the Trustees is not then serving as the Collateral Agent, the Trustees may, by order or orders executed by the Trustees, replace the then serving Collateral Agent with one of the Trustees, as specified in such order or orders, and in such event such Collateral Agent shall be deemed to have resigned at such time.