Replacement of Collateral Agent in Certain Circumstances. If (i) CCSD I or CCSD II assigns or sells a participation interest (except to the other) in any of the Term Loan held by it as of the Closing Date, and (ii) Xxxxxxx has not, as of the time of such assignment or sale, assigned or sold a participation interest in the Term Loan held by it as of the Closing Date, then Xxxxxxx may within thirty (30) days by notice to CCSD I and CCSD II and Borrowers remove CCSD I as Collateral Agent and substitute Xxxxxxx as Collateral Agent. As the former Collateral Agent, CCSD I would continue to have the residual rights of indemnity that it would have had if it had resigned.
Appears in 4 contracts
Samples: Loan Agreement (I3 Verticals, Inc.), Loan Agreement (I3 Verticals, Inc.), Loan Agreement (I3 Verticals, Inc.)
