Common use of Resignation of a Revolving Facility Issuing Bank Clause in Contracts

Resignation of a Revolving Facility Issuing Bank. Any Revolving Facility Issuing Bank may, with the consent of the Borrower (such consent not to be unreasonably withheld, conditioned or delayed), resign at any time by giving thirty (30) days’ prior notice to the Administrative Agent, the Lenders and the Borrower. After the resignation of a Revolving Facility Issuing Bank hereunder, the retiring Revolving Facility Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of a Revolving Facility Issuing Bank under this Agreement and the other Loan Documents with respect to Letters of Credit issued by it prior to such resignation, but shall not be required to issue additional Letters of Credit or to extend, reinstate, renew or increase any existing Letter of Credit. In the event of any such resignation as a Revolving Facility Issuing Bank, the Borrower shall be entitled to appoint any Revolving Lender that accepts such appointment in writing as successor Revolving Facility Issuing Bank. Upon the acceptance of any appointment as Revolving Facility Issuing Bank hereunder, the successor Revolving Facility Issuing Bank shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Revolving Facility Issuing Bank.

Resignation of a Revolving Facility Issuing Bank. Any Revolving Facility Issuing Bank may, with the consent of the Borrower (such consent not to be unreasonably withheld, conditioned or delayed), resign at any time by giving thirty (30) days’ prior notice to the Administrative Agent, the Lenders and the Borrower. After the resignation of a Revolving Facility Issuing Bank hereunder, the retiring Revolving Facility Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of a Revolving Facility Issuing Bank under this Agreement and the other Loan Documents with respect to Letters of Credit issued by it prior to such resignation, but shall not be required to issue additional Letters of Credit or to extend, reinstate, renew or increase any existing Letter of Credit. In the event of any such resignation as a Revolving Facility Issuing 72 Sunshine (National) – Credit Agreement Bank, the Borrower shall be entitled to appoint any Revolving Lender that accepts such appointment in writing as successor Revolving Facility Issuing Bank. Upon the acceptance of any appointment as Revolving Facility Issuing Bank hereunder, the successor Revolving Facility Issuing Bank shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Revolving Facility Issuing Bank.