Common use of Resignation as an Issuing Bank Clause in Contracts

Resignation as an Issuing Bank. Notwithstanding anything to the contrary contained herein, if at any time Issuing Bank assigns all of its Revolving Facility Commitment and Revolving Loans pursuant to Section 9.04(b), such Issuing Bank may, upon 30 days’ notice to the Borrower and the Lenders, resign as an Issuing Bank. In the event of any such resignation as an Issuing Bank, the Borrower shall be entitled to appoint from among the Lenders a successor Issuing Bank hereunder (subject to such Lender’s consent); provided, however, that no failure by the Borrower to appoint any such successor shall affect the resignation of such Issuing Bank. If such Issuing Bank resigns, it shall retain all the rights, powers, privileges and duties of an Issuing Bank hereunder with respect to all Letters of Credit issued by it and outstanding as of the effective date of its resignation as an Issuing Bank and all unreimbursed L/C Disbursements with respect thereto (including the right to require the Lenders to make ABR Loans or fund risk participations in unreimbursed amounts pursuant to Section 2.05. Upon the appointment of a successor Issuing Bank, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of a retiring Issuing Bank, as the case may be, and (b) the successor Issuing Banks shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to the resigning Issuing Bank to effectively assume the obligations of such Issuing Bank with respect to such Letters of Credit.

Resignation as an Issuing Bank. Notwithstanding anything to the contrary contained herein, if at any time Issuing Bank assigns all of its Revolving Facility Commitment and Revolving Loans pursuant to Section 9.04(b), such Any Issuing Bank may, upon 30 thirty (30) days’ prior written notice to the Borrower and the Lenders, resign as an Issuing Bank. In the event of any such resignation as an Issuing Bank, the Borrower shall be entitled to appoint from among the Lenders a successor Issuing Bank hereunder (subject from among the Working Capital Lenders who meet the requirements hereunder to such Lender’s consent)be an Issuing Bank; provided, however, that no failure by the Borrower to appoint any such successor shall affect the resignation of such any Issuing Bank. If such any Working Capital Lender resigns as an Issuing Bank resignsBank, it shall retain all the rights, powers, privileges and duties of an Issuing Bank hereunder with respect to all Letters of Credit issued by that it and issued, including Letters of Credit outstanding as of the effective date of its resignation as an Issuing Bank and all unreimbursed L/C Disbursements LC Exposure with respect thereto (including the right to require the Working Capital Lenders to make ABR LC Loans or fund risk participations in unreimbursed amounts pursuant to Section 2.05Letters of Credit). Upon the appointment of a successor Issuing Bank and such successor Issuing Bank’s acceptance, in writing, of the appointment and agreement to be bound by all of the terms and conditions contained in this Agreement and the other Finance Documents binding on it in such capacity, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of a retiring the Issuing Bank, Bank as the case may be, be and (b) the successor Issuing Banks Bank shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to the resigning applicable Issuing Bank to effectively assume the obligations of such Issuing Bank with respect to such Letters of Credit.

Resignation as an Issuing Bank. Notwithstanding anything to the contrary contained herein, if at any time Issuing Bank assigns all of its Revolving Facility Commitment and Revolving Loans pursuant to Section 9.04(b), such Any Issuing Bank may, upon 30 thirty (30) days’ prior written notice to the Borrower and the Lenders, resign as an Issuing Bank. In the event of any such resignation as an Issuing Bank, the Borrower shall be entitled to appoint from among the Lenders a successor Issuing Bank hereunder (subject from among the Working Capital Lenders who meet the requirements hereunder to such Lender’s consent)be an Issuing Bank; provided, however, that no failure by the Borrower to appoint any such successor shall affect the resignation of such any Issuing Bank. If such The Bank of Nova Scotia, Sumitomo Mistui Banking Corporation or another Working Capital Lender resigns as an Issuing Bank resignsBank, it shall retain all the rights, powers, privileges and duties of an Issuing Bank hereunder with respect to all Letters of Credit issued by that it and issued, including Letters of Credit outstanding as of the effective date of its resignation as an Issuing Bank and all unreimbursed L/C Disbursements LC Exposure with respect thereto (including the right to require the Working Capital Lenders to make ABR LC Loans or fund risk participations in unreimbursed amounts pursuant to Section 2.05Letters of Credit). Upon the appointment of a successor Issuing Bank and such successor Issuing Bank’s acceptance, in writing, of the appointment and agreement to be bound by all of the terms and conditions contained in this Agreement and the other Finance Documents binding on it in such capacity, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of a retiring the Issuing Bank, Bank as the case may be, be and (b) the successor Issuing Banks Bank shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to the resigning applicable Issuing Bank to effectively assume the obligations of such Issuing Bank with respect to such Letters of Credit.