Common use of Resignation and Removal of Shared Security Agent; Appointment of Successor Shared Security Agent Clause in Contracts

Resignation and Removal of Shared Security Agent; Appointment of Successor Shared Security Agent. (a) The Shared Security Agent may resign from the performance of all of its functions and duties under this Indenture or the Security Documents at any time upon at least 30 days prior written notice to the Company and the Trustee; provided that, such resignation shall not take effect unless and until a successor Shared Security Agent shall have been appointed. The Shared Security Agent may be removed at any time, with or without cause, by the Holders of not less than a majority of the principal amount of the Notes outstanding; provided that such removal shall not take effect unless and until a successor Shared Security Agent shall have been appointed.