Common use of Resignation and Removal of the Collateral Agent Clause in Contracts

Resignation and Removal of the Collateral Agent. (a) The Collateral Agent may resign from the performance of all of its functions and duties hereunder and under the Security Agreement at any time by giving 30 Business Days’ prior written notice to the Borrower and the Secured Creditors. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clause (b) or (c) below.

Resignation and Removal of the Collateral Agent. (a) The Collateral Agent (i) may resign from the performance of all of its functions and duties hereunder and under the Security Agreement at any time by giving 30 Business Days’ prior written upon notice to the Borrower Secured Creditors and (ii) may be removed at any time upon the written request of the Majority Secured Creditors sent to the Collateral Agent and the other Secured Creditors. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clause (b) or (c) below.

Resignation and Removal of the Collateral Agent. (a) The Collateral Agent may resign from the performance of all of its functions and duties hereunder and under the Security Agreement at any time by giving 30 Business Days’ prior or written notice to the U.S. Borrower and the Secured Creditors. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clause (b) or (c) below.

Resignation and Removal of the Collateral Agent. (a) The Collateral Agent may resign from the performance of all of its functions and duties hereunder and under the Security Agreement at any time time, by giving 30 Business Days’ (thirty) days' prior written notice to the Borrower and the Secured Creditors. Such Parties, resign and be discharged from the responsibilities hereby created, such resignation shall take effect to become effective upon the appointment of a successor Collateral Agent pursuant to clause by the consent of the Representatives and the Required Lenders and the approval by the Borrower of such successor (bwhich approval will not be unreasonably withheld) or (c) belowand the acceptance of such appointment by such successor.

Resignation and Removal of the Collateral Agent. (a) The Collateral Agent may resign from the performance of all of its functions and duties hereunder and under the Security Agreement at any time by giving 30 Business Days’ prior or written notice to the Borrower Xxxxxx and the Secured Creditors. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clause (b) or (c) below.

Resignation and Removal of the Collateral Agent. (ac) The Collateral Agent may resign from the performance of all of its functions and duties hereunder and under the Security Agreement at any time by giving 30 Business Days’ ' prior or written notice to the U.S. Borrower and the Secured Creditors. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clause (b) or (c) below.