Common use of Resignation Consolidation or Merger of Warrant Agent Clause in Contracts

Resignation Consolidation or Merger of Warrant Agent. (a) The Warrant Agent, or any successor to it hereafter appointed, may resign and be discharged from all further duties and liabilities hereunder after giving notice in writing to the Trust. If the office of the Warrant Agent becomes vacant by reason of such resignation or the incapacity to act or otherwise, the Trust shall appoint in writing a successor Warrant Agent in place of the Warrant Agent. The Trust shall indemnify and hold the Warrant Agent harmless from and against all claims, expenses or causes of action resulting from the failure of the Trust to make such appointment prior to the effective date of resignation of the Warrant Agent. Any resignation of the Warrant Agent for cause, or after the failure of the Company to pay any fees or expenses due to the Warrant Agent for a period of 30 days after the date due, shall become effective immediately. Any resignation of the Warrant Agent for any other reason shall become effective 30 days after the date on which the Warrant Agent shall give notice of resignation to the Trust.