Resignation and Removal of Collateral Agent. Subject to the appointment of a successor as and to the extent set forth herein, (i) the Applicable Authorized Representative may by notice to the Collateral Agent, each other Authorized Representative and the Company and upon obtaining the prior consent of the Term Loan Authorized Representative, the Revolving Authorized Representative and each other Authorized Representative of a Series of Secured First Lien Obligations consisting of term or revolving credit facilities remove the Collateral Agent and (ii) the Collateral Agent may at any time give notice of its resignation as Collateral Agent under this Agreement and the other First Lien Security Documents to each Authorized Representative and the Company. Upon receipt of any such notice of removal or resignation, the Applicable Authorized Representative shall have the right, upon obtaining the written consent of the Company (which consent shall not be unreasonably withheld), to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank with an office in the United States. If no such successor shall have been so appointed by the Applicable Authorized Representative and shall have accepted such appointment within 30 days after such notice of removal or after the retiring Collateral Agent gives notice of its resignation, then the retiring Collateral Agent may, on behalf of the Secured First Lien Parties, appoint a successor Collateral Agent meeting the qualifications set forth above; provided that if the Collateral Agent shall notify the Company and each Authorized Representative that no qualifying Person has accepted such appointment, then such resignation shall nonetheless become effective in accordance with such notice and (a) the retiring Collateral Agent shall be discharged from its duties and obligations hereunder and under the other First Lien Security Documents (except that in the case of any collateral security held by the Collateral Agent on behalf of the Secured First Lien Parties under any of the First Lien Security Documents, the retiring Collateral Agent shall continue to hold such collateral security solely for purposes of maintaining the perfection of the security interests of the Secured First Lien Parties therein until such time as a successor Collateral Agent is appointed but with no obligation to take any further action at the request of the Applicable Authorized Representative or any other Secured First Lien Parties) and (b) all paym...
Resignation and Removal of Collateral Agent. (i) The Collateral Agent (A) may resign at any time upon notice to the Secured Bank Creditors and Noteholders, and (B) may be removed at any time upon the written request of the Required Secured Creditors sent to the Collateral Agent and the other Secured Creditors.
Resignation and Removal of Collateral Agent. (a) The Collateral Agent may resign as Collateral Agent, or the Controlling Party may, in its sole discretion, remove the Collateral Agent, with sixty (60) days’ (in the case of the Collateral Agent resigning) or thirty (30) days’ (in the case of the removal of the Collateral Agent) prior written notice to (i) the Controlling Party, the other Secured Parties and the Borrower (in the case of the Collateral Agent resigning), or (ii) to the Collateral Administrator, the Custodian, the Valuation Agent, the Administrative Agent, the Collateral Agent, the other Secured Parties and the Borrower (in the case of the removal of the Collateral Agent). Any such resignation or removal shall become effective following the appointment of a successor Collateral Agent in accordance with the provisions of this Section 9.08. Upon any resignation or removal of the Collateral Agent, the Controlling Party shall appoint a successor Collateral Agent, which successor Collateral Agent shall succeed to the rights, powers and duties of the Collateral Agent, and the term “
Resignation and Removal of Collateral Agent. 4.8.1. The Collateral Agent may resign at any time by notifying the Lenders and the Borrower. Upon any such resignation, the Required Lenders shall have the right, with the consent of the Borrower (which consent shall not be unreasonably withheld or delayed), to appoint a successor; provided that no consent of the Borrower shall be required if any Event of Default has occurred and is continuing. If no successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within thirty (30) days after the retiring Collateral Agent gives notice of its resignation (or such earlier date as shall be agreed by the Required Lenders) (the “Resignation Effective Date”), then the retiring Collateral Agent may, on behalf of the Lenders, appoint a successor Collateral Agent which shall be a bank with an office in Chicago, Illinois or New York, New York, or an Affiliate of any such bank that is a financial institution. Upon the acceptance of its appointment as Collateral Agent hereunder by a successor which shall include execution by such successor Collateral Agent of a joinder supplement, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent. If no successor collateral agent has accepted appointment as Collateral Agent by the date which is thirty (30) days following a retiring Collateral Agent’s notice of resignation, the retiring Collateral Agent’s resignation shall nevertheless thereupon become effective.
Resignation and Removal of Collateral Agent. (1) A resignation or removal of the Collateral Agent and appointment of a successor Collateral Agent will become effective only upon the successor Collateral Agent’s acceptance of appointment as provided in this Section 5.24.
Resignation and Removal of Collateral Agent. Collateral Agent may be removed and may resign in accordance with the provisions of Section 9.5 of the Loan Agreement.
Resignation and Removal of Collateral Agent. The Collateral Agent may resign at any time without cause by giving at least 60 days’ prior written notice to the Borrower and the Administrative Agent. The Administrative Agent (at the direction of the Class A Requisite Lenders) may at any time remove the Collateral Agent, with or without cause, by an instrument in writing delivered to the Secured Parties, the Borrower and the Collateral Agent. No resignation or removal of the Collateral Agent pursuant to this Section 6.01 shall become effective prior to the date of appointment of a successor Collateral Agent and the acceptance of such appointment by such successor Collateral Agent pursuant to Section 6.02 hereof.
Resignation and Removal of Collateral Agent. (a) If the Collateral Agent shall resign as Collateral Agent under this Agreement, such resignation to be effective upon the earlier of (i) the appointment of a successor Collateral Agent and (ii) the date occurring thirty (30) days following such resignation, then the Required Secured Parties may appoint a successor Collateral Agent for the Secured Parties, which shall be a commercial bank or trust company organized under the laws of the United States of America or any state thereof having a combined surplus and capital of not less than $500,000,000, whereupon such successor Collateral Agent shall succeed to the rights, powers and duties of the former Collateral Agent and the obligations of the former Collateral Agent shall be terminated and canceled, without any other or further act or deed on the part of such former Collateral Agent or any of the parties to this Agreement; provided, however, if the Required Secured Parties cannot agree as to a successor Collateral Agent within thirty (30) days after notice of such resignation, then (i) the resigning Collateral Agent shall be permitted to appoint a successor Collateral Agent meeting the qualifications set forth above and willing to accept such role and the parties hereto agree to execute whatever documents are necessary to effect such action under this Agreement or any other document executed pursuant to this Agreement; and (ii) if the Collateral Agent does not appoint any such successor Collateral Agent, the Secured Parties shall act collectively as the Collateral Agent hereunder until such date as a new Collateral Agent is apppointed.
Resignation and Removal of Collateral Agent. Collateral Agent may at any time give notice of its resignation to Company and the Holders. Upon receipt of any such notice of resignation, Company shall appoint a successor Collateral Agent. If no such successor shall have been so appointed by Company and shall have accepted such appointment within thirty (30) days after the retiring Collateral Agent gives notice of its resignation, then the Required Holders may appoint a successor Collateral Agent; provided that if no such successor Collateral Agent has been appointed, then such resignation shall nonetheless become effective in accordance with such notice and (1) the retiring Collateral Agent shall be discharged from its duties and obligations hereunder and under the other Note Documents and the retiring Collateral Agent shall deliver the Collateral to or to the written order of the Holder holding the largest aggregate principal amount of Notes) and (2) all payments, communications and determinations provided to be made by, to or through Collateral Agent shall instead be made by or to the Holders directly, until such time as the Required Holders appoint a successor Collateral Agent as provided for above in this Section. Upon the acceptance of a successor's appointment as Collateral Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired) Collateral Agent, and the retiring Collateral Agent shall be discharged from all of its duties and obligations hereunder or under the other Note Documents (if not already discharged therefrom as provided above in this Section), subject to Collateral Agent's continuing rights pursuant to Section 15.3 of the Note Purchase Agreement. Anything herein to the contrary notwithstanding, if at any time, the Required Holders determine, in their sole discretion, that the Person serving as Collateral Agent is no longer an acceptable Collateral Agent, the Required Holders may, by thirty (30) days written notice to Company and such Person, remove such Person as Collateral Agent and appoint a replacement Collateral Agent hereunder. Such removal will, to the fullest extent permitted by applicable law, be effective on the earlier of (i) the date a replacement Collateral Agent is appointed (including where such appointment takes place prior to the expiration of the above-referenced thirty (30) days notice period and (ii) the date thirty (30) days after the giving of such notice by the Required Hol...
Resignation and Removal of Collateral Agent the Custodial Agent and the Securities Intermediary
