Common use of Resignation by the Agent Clause in Contracts

Resignation by the Agent. (a) The Agent may resign from the performance of all its functions and duties under the Mortgage and the other Transaction Documents at any time by giving thirty (30) days' prior written notice (as provided in the Mortgage) to the Company and the Holder. Such resignation shall take effect upon the appointment of a successor Agent pursuant to clauses (b) and (c) below. (b) Upon any such notice of resignation, the Holder shall appoint a successor Agent hereunder. (c) If a successor Agent shall not have been so appointed within said 30-day period, the Agent shall then appoint a successor Agent who shall serve as Agent until such time, if any, as the Holder appoints a successor Agent as provided above. If a successor Agent has not been appointed within such 30-day period, the Agent may petition any court of competent jurisdiction or may interplead the Company and the Holder in a proceeding for the appointment of a successor Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Company on demand.

Resignation by the Agent. (a) The Agent may resign from the performance of all its functions and duties under the Mortgage and the other Transaction Documents Agreement at any time by giving thirty (30) 30 days' ’ prior written notice (as provided in the MortgageAgreement) to the Company Debtors and the HolderCreditors. Such resignation shall take effect upon the appointment of a successor Agent pursuant to clauses (b) and (c) below. (b) Upon any such notice of resignation, the Holder Creditors, acting by a Majority in Interest, shall appoint a successor Agent hereunder. (c) If a successor Agent shall not have been so appointed within said 30-day period, the Agent shall then appoint a successor Agent who shall serve as Agent until such time, if any, as the Holder appoints Creditors appoint a successor Agent as provided above. If a successor Agent has not been appointed within such 30-day period, the Agent may petition any court of competent jurisdiction or may interplead the Company Debtors and the Holder Creditors in a proceeding for the appointment of a successor Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Company Debtors on demand.

Resignation by the Agent. (ai) The Agent may resign from the performance of all its functions and duties under the Mortgage and the other Transaction Documents this Agreement at any time by giving thirty (30) 30 days' prior written notice (as provided in the MortgageAgreement) to the Company and the HolderPurchasers. Such resignation shall take effect upon the appointment of a successor Agent pursuant to clauses (b) and (c) below. (bii) Upon any such notice of resignation, the Holder Purchasers, acting by a majority in interest, shall appoint a successor Agent hereunder. (ciii) If a successor Agent shall not have been so appointed within said 30-day period, the Agent shall then appoint a successor Agent who shall serve as Agent until such time, if any, as the Holder appoints Purchasers appoint a successor Agent as provided above. If a successor Agent has not been appointed within such 30-day period, the Agent may petition any court of competent jurisdiction or may interplead the Company and the Holder Purchasers in a proceeding for the appointment of a successor Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Company on demand.. *******************

Resignation by the Agent. (a) The Agent may resign from the performance of all its functions and duties under the Mortgage and the other Transaction Documents Agreement at any time by giving thirty (30) 30 days' ’ prior written notice (as provided in the MortgageAgreement) to the Company Oz Rey and the HolderPurchasers. Such resignation shall take effect upon the appointment of a successor Agent pursuant to clauses (b) and (c) below. (b) Upon any such notice of resignation, the Holder Purchasers, acting by a Majority in Interest, shall appoint a successor Agent hereunder. (c) If a successor Agent shall not have been so appointed within said 30-day period, the Agent shall then appoint a successor Agent who shall serve as Agent until such time, if any, as the Holder appoints Purchasers appoint a successor Agent as provided above. If a successor Agent has not been appointed within such 30-day period, the Agent may petition any court of competent jurisdiction or may interplead the Company Oz Rey and the Holder Purchasers in a proceeding for the appointment of a successor Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Company Oz Rey on demand.

Resignation by the Agent. (a) The Agent may resign from the performance of all its functions and duties under the Mortgage and the other Transaction Documents Agreement at any time by giving thirty (30) 30 days' prior written notice (as provided in the MortgageAgreement) to the Company Debtors and the HolderCreditors. Such resignation shall take effect upon the appointment of a successor Agent pursuant to clauses (b) and (c) below. (b) Upon any such notice of resignation, the Holder Creditors, acting by a Majority in Interest, shall appoint a successor Agent hereunder. (c) If a successor Agent shall not have been so appointed within said 30-30- day period, the Agent shall then appoint a successor Agent who shall serve as Agent until such time, if any, as the Holder appoints Creditors appoint a successor Agent as provided above. If a successor Agent has not been appointed within such 30-day period, the Agent may petition any court of competent jurisdiction or may interplead the Company Debtors and the Holder Creditors in a proceeding for the appointment of a successor Agent, and all fees, including, but not limited to, extraordinary fees associated with the filing of interpleader and expenses associated therewith, shall be payable by the Company Debtors on demand.