Common use of Resignation and Appointment of Successor Clause in Contracts

Resignation and Appointment of Successor. (a) The CVR Agent may resign at any time by giving written notice thereof to Parent specifying a date when such resignation shall take effect, which notice shall be sent at least thirty (30) days prior to the date so specified. (b) If the CVR Agent resigns or become incapable of acting, Parent shall promptly appoint a qualified successor CVR Agent who may be the CVR Holders’ Representative or a Holder but shall not be an officer of Parent. The successor CVR Agent so appointed shall, forthwith upon its acceptance of such appointment in accordance with this Section 3.3(b), become the successor CVR Agent. (c) Parent shall give notice of each resignation and each removal of a CVR Agent and each appointment of a successor CVR Agent by mailing written notice of such event by first-class mail, postage prepaid, to the CVR Holders’ Representative. The CVR Holders’ Representative shall forward such notice to the Holders.

Resignation and Appointment of Successor. (a) The CVR Rights Agent may resign at any time by giving written notice thereof to Parent Holdco specifying a date when such resignation shall take effect, which notice shall be sent at least thirty (30) days prior to the date so specified. (b) If the CVR Rights Agent resigns or become incapable of acting, Parent Holdco shall promptly appoint a qualified successor CVR Rights Agent who may be the CVR Holders’ Representative or a Holder but shall not be an officer of ParentHoldco. The successor CVR Rights Agent so appointed shall, forthwith upon its acceptance of such appointment in accordance with this Section 3.3(b), become the successor CVR Rights Agent. (c) Parent Holdco shall give notice of each resignation and each removal of a CVR Rights Agent and each appointment of a successor CVR Rights Agent by mailing written notice of such event by first-class first‑class mail, postage prepaid, to the CVR Holders’ Representative. The CVR Holders’ Representative shall forward such notice to the Holders.

Resignation and Appointment of Successor. (a) The CVR Rights Agent may resign at any time by giving written notice thereof to the Parent specifying a date when such resignation shall take effect, which notice shall be sent at least thirty (30) days prior to the date so specified. (b) If the CVR Rights Agent resigns or become incapable of acting, the Parent shall promptly appoint a qualified successor CVR Rights Agent who may be the CVR Holders’ Representative or a Holder but shall not be an officer of the Parent. The successor CVR Rights Agent so appointed shall, forthwith upon its acceptance of such appointment in accordance with this Section 3.3(b), become the successor CVR Rights Agent. (c) The Parent shall give notice of each resignation and each removal of a CVR Rights Agent and each appointment of a successor CVR Rights Agent by mailing written notice of such event by first-class mail, postage prepaid, to the CVR Holders’ Representative. The CVR Holders’ Representative shall forward such notice to the Holders.

Resignation and Appointment of Successor. (a) The CVR Rights Agent may resign at any time by giving written notice thereof to Parent Holdco specifying a date when such resignation shall take effect, which notice shall be sent at least thirty (30) days prior to the date so specified. (b) If the CVR Rights Agent resigns or become incapable of acting, Parent Holdco shall promptly appoint a qualified successor CVR Rights Agent who may be the CVR Holders’ Representative or a Holder but shall not be an officer of ParentHoldco. The successor CVR Rights Agent so appointed shall, forthwith upon its acceptance of such appointment in accordance with this Section 3.3(b), become the successor CVR Rights Agent. (c) Parent Holdco shall give notice of each resignation and each removal of a CVR Rights Agent and each appointment of a successor CVR Rights Agent by mailing written notice of such event by first-class mail, postage prepaid, to the CVR Holders’ Representative. The CVR Holders’ Representative shall forward such notice to the Holders.