Common use of Resignation of Administrative Agent and Successor Administrative Agent Clause in Contracts

Resignation of Administrative Agent and Successor Administrative Agent. The Administrative Agent may resign at any time by giving written notice thereof to the Banks and Borrower. Upon any such resignation of the Administrative Agent, the Required Banks shall have the right to appoint a successor Administrative Agent with the consent of Borrower. If no successor Administrative Agent shall have been so appointed by the Required Banks, and shall have accepted such appointment, within thirty (30) days after the retiring Administrative Agent’s giving of notice of resignation, then the retiring Administrative Agent may, on behalf of the Banks, appoint a successor Administrative Agent, which shall be any Bank hereunder or any commercial bank organized under the laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $200,000,000. Upon the acceptance of its appointment as the Administrative Agent hereunder, such successor Administrative Agent shall thereupon succeed to and become vested with all the rights and duties of the retiring or removed Administrative Agent under the Credit Documents, and the retiring Administrative Agent shall be discharged from its duties and obligations thereunder. After any retiring Administrative Agent’s resignation hereunder as Administrative Agent, the provisions of this Section 10 and all protective provisions of the other Credit Documents shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent.

Resignation of Administrative Agent and Successor Administrative Agent. (a) The Administrative Agent may resign at any time by giving written give notice thereof of its resignation to the Banks Lenders, the L/C Issuer, and the Borrower. Upon receipt of any such resignation of the Administrative Agent, the Required Banks shall have the right to appoint a successor Administrative Agent with the consent of Borrower. If no successor Administrative Agent shall have been so appointed by the Required Banks, and shall have accepted such appointment, within thirty (30) days after the retiring Administrative Agent’s giving of notice of resignation, then the retiring Administrative Agent mayRequired Lenders shall have the right, on behalf of in consultation with the BanksBorrower, to appoint a successor Administrative Agentsuccessor, which shall may be any Bank Lender hereunder or any commercial bank organized under the laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $200,000,000. Upon the acceptance 200,000,000 and, so long as no Event of its appointment as the Administrative Agent hereunderDefault shall have occurred and be continuing, such appointment shall be within the Borrower’s consent (which shall not be unreasonably withheld). If no such successor Administrative Agent shall thereupon succeed to have been so appointed by the Required Lenders and become vested with all the rights and duties of the retiring or removed Administrative Agent under the Credit Documents, and shall have accepted such appointment within thirty (30) days after the retiring Administrative Agent gives notice of its resignation (or such earlier day as shall be discharged from its duties and obligations thereunder. After any agreed by the Required Lenders) (the “Resignation Effective Date”), then the retiring Administrative Agent’s resignation hereunder as Administrative AgentAgent may (but shall not be obligated to), the provisions of this Section 10 and all protective provisions on behalf of the other Credit Documents Lenders and the L/C Issuer, appoint a successor Administrative Agent meeting the qualifications set forth above. Whether or not a successor has been appointed, such resignation shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agentbecome effective in accordance with such notice on the Resignation Effective Date.

Resignation of Administrative Agent and Successor Administrative Agent. (a) The Administrative Agent may resign at any time by giving written give notice thereof of its resignation to the Banks Lenders, the L/C Issuers, and Borrowerthe Borrowers. Upon receipt of any such resignation of the Administrative Agent, the Required Banks shall have the right to appoint a successor Administrative Agent with the consent of Borrower. If no successor Administrative Agent shall have been so appointed by the Required Banks, and shall have accepted such appointment, within thirty (30) days after the retiring Administrative Agent’s giving of notice of resignation, then the retiring Administrative Agent mayRequired Lenders shall have the right, on behalf of in consultation with the BanksBorrowers, to appoint a successor Administrative Agentsuccessor, which shall may be any Bank Lender hereunder or any commercial bank organized under the laws of the United States of America or of any State thereof and having a combined capital and surplus of at least U.S. $200,000,000. Upon the acceptance 200,000,000 and, so long as no Event of its appointment as the Administrative Agent hereunderDefault shall have occurred and be continuing, such appointment shall be within the Borrowers’ consent (which shall not be unreasonably withheld). If no such successor Administrative Agent shall thereupon succeed to have been so appointed by the Required Lenders and become vested with all the rights and duties of the retiring or removed Administrative Agent under the Credit Documents, and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation (or such earlier day as shall be discharged from its duties and obligations thereunder. After any agreed by the Required Lenders) (the “Resignation Effective Date”), then the retiring Administrative Agent’s resignation hereunder as Administrative AgentAgent may (but shall not be obligated to), the provisions of this Section 10 and all protective provisions on behalf of the other Credit Documents Lenders and the L/C Issuers, appoint a successor Administrative Agent meeting the qualifications set forth above. Whether or not a successor has been appointed, such resignation shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agentbecome effective in accordance with such notice on the Resignation Effective Date.

Resignation of Administrative Agent and Successor Administrative Agent. The Administrative Agent may resign at any time by giving written notice thereof to the Banks and the Borrower. Upon any such resignation of the Administrative Agent, the Required Banks shall have the right to appoint a successor Administrative Agent with the consent of the Borrower. If no successor Administrative Agent shall have been so appointed by the Required Banks, and shall have accepted such appointment, within thirty (30) days after the retiring Administrative Agent’s 's giving of notice of resignation, then the retiring Administrative Agent may, on behalf of the BanksBanks and with the consent of the Borrower, appoint a successor Administrative Agent, which shall be any Bank hereunder or any commercial bank organized under the laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $200,000,000. Upon the acceptance of its appointment as the Administrative Agent hereunder, such successor Administrative Agent shall thereupon succeed to and become vested with all the rights and duties of the retiring or removed Administrative Agent under the Credit Documents, and the retiring Administrative Agent shall be discharged from its duties and obligations thereunder. After any retiring Administrative Agent’s 's resignation hereunder as Administrative Agent, the provisions of this Section 10 and all protective provisions of the other Credit Documents shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent.

Resignation of Administrative Agent and Successor Administrative Agent. The Administrative Agent may resign at any time by giving written notice thereof to the Banks and Borrower. Upon any such resignation of the Administrative Agent, the Required Banks shall have the right to appoint a successor Administrative Agent with the consent of Borrower. If no successor Administrative Agent shall have been so appointed by the Required Banks, and shall have accepted such appointment, within thirty (30) days after the retiring Administrative Agent’s 's giving of notice of resignation, then the retiring Administrative Agent may, on behalf of the Banks, appoint a successor Administrative Agent, which shall be any Bank hereunder or any commercial bank organized under the laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $200,000,000. Upon the acceptance of its appointment as the Administrative Agent hereunder, such successor Administrative Agent shall thereupon succeed to and become vested with all the rights and duties of the retiring or removed Administrative Agent under the Credit Documents, and the retiring Administrative Agent shall be discharged from its duties and obligations thereunder. After any retiring Administrative Agent’s 's resignation hereunder as Administrative Agent, the provisions of this Section 10 and all protective provisions of the other Credit Documents shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent.

Resignation of Administrative Agent and Successor Administrative Agent. (a) The Administrative Agent may resign at any time by giving written give notice thereof of its resignation to the Banks Lenders, the L/C Issuers, and Borrowerthe Borrowers. Upon receipt of any such resignation of the Administrative Agent, the Required Banks shall have the right to appoint a successor Administrative Agent with the consent of Borrower. If no successor Administrative Agent shall have been so appointed by the Required Banks, and shall have accepted such appointment, within thirty (30) days after the retiring Administrative Agent’s giving of notice of resignation, then the retiring Administrative Agent mayRequired Lenders shall have the right, on behalf of in consultation with the BanksBorrowers, to appoint a successor Administrative Agentsuccessor, which shall may be any Bank Lender hereunder or any commercial bank organized under the laws of the United States of America American or of any State thereof and having a combined capital and surplus of at least $200,000,000. Upon the acceptance 200,000,000 and, so long as no Event of its appointment as the Administrative Agent hereunderDefault shall have occurred and be continuing, such appointment shall be within the Borrowers’ consent (which shall not be unreasonably withheld). If no such successor Administrative Agent shall thereupon succeed to have been so appointed by the Required Lenders and become vested with all the rights and duties of the retiring or removed Administrative Agent under the Credit Documents, and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation (or such earlier day as shall be discharged from its duties and obligations thereunder. After any agreed by the Required Lenders) (the “Resignation Effective Date”), then the retiring Administrative Agent’s resignation hereunder as Administrative AgentAgent may (but shall not be obligated to), the provisions of this Section 10 and all protective provisions on behalf of the other Credit Documents Lenders and the L/C Issuers, appoint a successor Administrative Agent meeting the qualifications set forth above. Whether or not a successor has been appointed, such resignation shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agentbecome effective in accordance with such notice on the Resignation Effective Date.

Resignation of Administrative Agent and Successor Administrative Agent. The Subject to the appointment and acceptance of a successor Administrative Agent as provided below, the Administrative Agent may resign at any time by giving written notice thereof to the Banks and the Borrower, and the Required Banks may remove the Administrative Agent, with the consent of the Borrower, at any time. Upon any such resignation or removal of the Administrative Agent, the Required Banks shall have the right to appoint a successor Administrative Agent appoint, with the consent of the Borrower, a successor Administrative Agent. If no successor Administrative Agent shall have been so appointed by the Required Banks, and shall have accepted such appointment, within thirty (30) days after the retiring Administrative Agent’s 's giving of notice of resignationresignation or receiving notice of its removal, then the retiring Administrative Agent may, on behalf of the Banks, appoint a successor Administrative Agent, which shall be any Bank hereunder or any a commercial bank organized under the laws of the United States of America or of any State thereof and having a combined capital and surplus of at least U.S. $200,000,000. Upon the acceptance of its appointment as the Administrative Agent hereunderhereunder by a successor Administrative Agent, such successor Administrative Agent shall thereupon succeed to and become vested with all the rights and duties of the retiring or removed Administrative Agent under the Credit DocumentsAgent, and the retiring Administrative Agent shall be discharged from its duties and obligations thereunderhereunder. After any retiring Administrative Agent’s 's resignation or removal hereunder as Administrative Agent, the provisions of this Section 10 and all protective provisions of the other Credit Documents 11 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent.

Resignation of Administrative Agent and Successor Administrative Agent. (a) The Administrative Agent may resign at any time by giving written give notice thereof of its resignation to the Banks Lenders and the Borrower. Upon receipt of any such resignation of the Administrative Agent, the Required Banks shall have the right to appoint a successor Administrative Agent with the consent of Borrower. If no successor Administrative Agent shall have been so appointed by the Required Banks, and shall have accepted such appointment, within thirty (30) days after the retiring Administrative Agent’s giving of notice of resignation, then the retiring Administrative Agent mayRequired Lenders shall have the right, on behalf of in consultation with the BanksBorrower, to appoint a successor Administrative Agentsuccessor, which shall may be any Bank Lender hereunder or any commercial bank organized under the laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $200,000,000. Upon the acceptance 200,000,000 and, so long as no Event of its appointment as the Administrative Agent hereunderDefault shall have occurred and be continuing, such appointment shall be subject to the Borrower’s consent (which shall not be unreasonably withheld). If no such successor Administrative Agent shall thereupon succeed to have been so appointed by the Required Lenders and become vested with all the rights and duties of the retiring or removed Administrative Agent under the Credit Documents, and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation (or such earlier day as shall be discharged from its duties and obligations thereunder. After any agreed by the Required Lenders) (the “Resignation Effective Date”), then the retiring Administrative Agent’s resignation hereunder as Administrative AgentAgent may (but shall not be obligated to), the provisions of this Section 10 and all protective provisions on behalf of the other Credit Documents Lenders, appoint a successor Administrative Agent meeting the qualifications set forth above. Whether or not a successor has been appointed, such resignation shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agentbecome effective in accordance with such notice on the Resignation Effective Date.

Resignation of Administrative Agent and Successor Administrative Agent. The Administrative Agent may resign at any time by giving written notice thereof to the Banks and the Borrower. Upon any such resignation of the Administrative Agent, the Required Banks shall have the right to appoint a successor Administrative Agent with the consent of the Borrower, provided, that at any time an Event of Default has occurred and is continuing, no such consent shall be required. If no successor Administrative Agent shall have been so appointed by the Required Banks, and shall have accepted such appointment, within thirty (30) days after the retiring Administrative Agent’s 's giving of notice of resignation, then the retiring Administrative Agent may, on behalf of the Banks, with the consent of the Borrower, appoint a successor Administrative Agent, which shall be any Bank hereunder or any commercial bank organized under the laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $200,000,000. Upon the acceptance of its appointment as the Administrative Agent hereunder, such successor Administrative Agent shall thereupon succeed to and become vested with all the rights and duties of the retiring or removed Administrative Agent under the Credit Documents, and the retiring Administrative Agent shall be discharged from its duties and obligations thereunder. After any retiring Administrative Agent’s 's resignation hereunder as Administrative Agent, the provisions of this Section 10 and all protective provisions of the other Credit Documents shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent.

Resignation of Administrative Agent and Successor Administrative Agent. (a) The Administrative Agent may resign at any time by giving written give notice thereof of its resignation to the Banks Lenders and the Borrower. Upon receipt of any such resignation of the Administrative Agent, the Required Banks shall have the right to appoint a successor Administrative Agent with the consent of Borrower. If no successor Administrative Agent shall have been so appointed by the Required Banks, and shall have accepted such appointment, within thirty (30) days after the retiring Administrative Agent’s giving of notice of resignation, then the retiring Administrative Agent mayRequired Lenders shall have the right, on behalf of in consultation with the BanksBorrower, to appoint a successor Administrative Agentsuccessor, which shall may be any Bank Lender hereunder or any commercial bank organized under the laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $200,000,000. Upon the acceptance 200,000,000 and, so long as no Event of its appointment as the Administrative Agent hereunderDefault shall have occurred and be continuing, such appointment shall be within the Borrower’s consent (which shall not be unreasonably withheld). If no such successor Administrative Agent shall thereupon succeed to have been so appointed by the Required Lenders and become vested with all the rights and duties of the retiring or removed Administrative Agent under the Credit Documents, and shall have accepted such appointment within thirty (30) days after the retiring Administrative Agent gives notice of its resignation (or such earlier day as shall be discharged from its duties and obligations thereunder. After any agreed by the Required Lenders) (the “Resignation Effective Date”), then the retiring Administrative Agent’s resignation hereunder as Administrative AgentAgent may (but shall not be obligated to), the provisions of this Section 10 and all protective provisions on behalf of the other Credit Documents Lenders, appoint a successor Administrative Agent meeting the qualifications set forth above. Whether or not a successor has been appointed, such resignation shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agentbecome effective in accordance with such notice on the Resignation Effective Date.

Resignation of Administrative Agent and Successor Administrative Agent. The Administrative Agent may resign at any time by giving written notice thereof to the Participating Banks and Borrowerthe Company. Upon any such resignation of the Administrative Agent, the Required Majority Participating Banks shall have the right to appoint a successor Administrative Agent with the consent of Borrowerthe Company. If no successor Administrative Agent shall have been so appointed by the Required Majority Participating Banks, and shall have accepted such appointment, within thirty (30) 30 days after the retiring Administrative Agent’s 's giving of notice of resignation, then the retiring Administrative Agent may, on behalf of the Participating Banks, appoint a successor Administrative Agent, which shall be any Participating Bank hereunder or any commercial bank organized under the laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $200,000,000. Upon the acceptance of its appointment as the Administrative Agent hereunder, such successor Administrative Agent shall thereupon succeed to and become vested with all the rights and duties of the retiring or removed Administrative Agent under the Credit Documentshereunder, and the retiring Administrative Agent shall be discharged from its duties and obligations thereunder. After any retiring Administrative Agent’s 's resignation hereunder as Administrative Agent, the provisions of this Section 10 8.7 and all protective provisions of the other Credit Documents hereof shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent. SIGNATURE PAGES FOLLOW.

Resignation of Administrative Agent and Successor Administrative Agent. The Administrative Agent may resign at any time by giving written notice thereof to the Banks Lenders and the Borrower. Upon any such notice of resignation of the Administrative Agent, the Required Banks Lenders shall have the right to appoint a successor Administrative Agent with the consent of the Borrower. If no successor Administrative Agent shall have been so appointed by the Required BanksLenders, and shall have accepted such appointment, within thirty (30) 30 days after the retiring Administrative Agent’s giving of notice of resignation, then the retiring Administrative Agent may, on behalf of the BanksLenders, appoint a successor Administrative Agent, which shall be any Bank Lender hereunder or any commercial bank organized under the laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $200,000,000. The retiring Administrative Agent shall continue as Administrative Agent hereunder until a successor Administrative Agent has accepted appointment as Administrative Agent. Upon the acceptance of its appointment as the Administrative Agent hereunder, such successor Administrative Agent shall thereupon succeed to and become vested with all the rights and duties of the retiring or removed Administrative Agent under the Credit Loan Documents, and the retiring Administrative Agent shall be discharged from its duties and obligations thereunder. After any retiring Administrative Agent’s resignation hereunder as Administrative Agent, the provisions of this Section 10 12 and all protective provisions of the other Credit Loan Documents shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent.

Resignation of Administrative Agent and Successor Administrative Agent. (a) The Administrative Agent may resign at any time by giving written give notice thereof of its resignation to the Banks Lenders and Borrowerthe Borrowers. Upon receipt of any such resignation of the Administrative Agent, the Required Banks shall have the right to appoint a successor Administrative Agent with the consent of Borrower. If no successor Administrative Agent shall have been so appointed by the Required Banks, and shall have accepted such appointment, within thirty (30) days after the retiring Administrative Agent’s giving of notice of resignation, then the retiring Administrative Agent mayRequired Lenders shall have the right, on behalf of in consultation with the BanksBorrowers, to appoint a successor Administrative Agentsuccessor, which shall may be any Bank Lender hereunder or any commercial bank organized under the laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $200,000,000. Upon the acceptance 200,000,000 and, so long as no Event of its appointment as the Administrative Agent hereunderDefault shall have occurred and be continuing, such appointment shall be within the Borrowers’ consent (which shall not be unreasonably withheld). If no such successor Administrative Agent shall thereupon succeed to have been so appointed by the Required Lenders and become vested with all the rights and duties of the retiring or removed Administrative Agent under the Credit Documents, and shall have accepted such appointment within thirty (30) days after the retiring Administrative Agent gives notice of its resignation (or such earlier day as shall be discharged from its duties and obligations thereunder. After any agreed by the Required Lenders) (the “Resignation Effective Date”), then the retiring Administrative Agent’s resignation hereunder as Administrative AgentAgent may (but shall not be obligated to), the provisions of this Section 10 and all protective provisions on behalf of the other Credit Documents Lenders, appoint a successor Administrative Agent meeting the qualifications set forth above. Whether or not a successor has been appointed, such resignation shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agentbecome effective in accordance with such notice on the Resignation Effective Date.

Resignation of Administrative Agent and Successor Administrative Agent. The Administrative Agent may resign at any time by giving written notice thereof to the Banks and the Borrower. Upon any such resignation of the Administrative Agent, the Required Banks shall have the right to appoint a successor Administrative Agent with the consent of the Borrower. If no successor Administrative Agent shall have been so appointed by the Required Banks, and shall have accepted such appointment, within thirty (30) days after the retiring Administrative Agent’s giving of notice of resignation, then the retiring Administrative Agent may, on behalf of the Banks, appoint a successor Administrative Agent, which shall be any Bank hereunder or any commercial bank organized under the laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $200,000,000. Upon the acceptance of its appointment as the Administrative Agent hereunder, such successor Administrative Agent shall thereupon succeed to and become vested with all the rights and duties of the retiring or removed Administrative Agent under the Credit Documents, and the retiring Administrative Agent shall be discharged from its duties and obligations thereunder. After any retiring Administrative Agent’s resignation hereunder as Administrative Agent, the provisions of this Section 10 and all protective provisions of the other Credit Documents shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent.

Resignation of Administrative Agent and Successor Administrative Agent. The Administrative Agent may resign at any time by giving written notice thereof to the Banks Lender and the Borrower. Upon any such resignation of the Administrative Agent, the Required Banks Lender shall have the right to appoint a successor Administrative Agent with the consent of BorrowerAgent. If no successor Administrative Agent shall have been so appointed by the Required BanksLender, and shall have accepted such appointment, within thirty (30) 30 days after the retiring Administrative Agent’s giving of notice of resignation, resignation then the retiring Administrative Agent may, on behalf of the BanksLender, appoint a successor Administrative Agent, which shall may be any Bank Lender hereunder or any commercial bank organized under the laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $200,000,000. Upon the acceptance of its appointment as the Administrative Agent hereunder, such successor Administrative Agent shall thereupon succeed to and become vested with all the rights and duties of the retiring or removed Administrative Agent under the Credit Loan Documents, and the retiring Administrative Agent shall be discharged from its duties and obligations thereunder. After any retiring Administrative Agent’s resignation hereunder as Administrative Agent, the provisions of this Section 10 9 and all protective provisions of the other Credit Loan Documents shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent, but no successor Administrative Agent shall in any event be liable or responsible for any actions of its predecessor.

Resignation of Administrative Agent and Successor Administrative Agent. The Administrative Agent may resign at any time by giving 30 days’ prior written notice thereof to the Banks Lenders and the Borrower. Upon any such resignation of the Administrative Agent, the Required Banks Lenders shall have the right to appoint a successor Administrative Agent with the consent of BorrowerAgent. If no successor Administrative Agent shall have been so appointed by the Required BanksLenders, and shall have accepted such appointment, within thirty (30) 30 days after the retiring Administrative Agent’s giving of notice of resignation, resignation then the retiring Administrative Agent may, on behalf of the BanksLenders, appoint a successor Administrative Agent, which shall may be any Bank Lender hereunder or any commercial bank organized under the laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $200,000,000500,000,000. Upon the acceptance of its appointment as the Administrative Agent hereunder, such successor Administrative Agent shall thereupon succeed to and become vested with all the rights and duties of the retiring or removed Administrative Agent under the Credit Loan Documents, and the retiring Administrative Agent shall be discharged from its duties and obligations thereunder. After any retiring Administrative Agent’s resignation hereunder as Administrative Agent, the provisions of this Section 10 and all protective provisions of the other Credit Documents shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent.this

Resignation of Administrative Agent and Successor Administrative Agent. The Administrative Agent may resign at any time by giving written notice thereof to the Participating Banks and Borrowerthe Company. Upon any such resignation of the Administrative Agent, the Required Majority Participating Banks shall have the right to appoint a successor Administrative Agent with the consent of Borrowerthe Company. If no successor Administrative Agent shall have been so appointed by the Required Majority Participating Banks, and shall have accepted such appointment, within thirty (30) 30 days after the retiring Administrative Agent’s giving of notice of resignation, then the retiring Administrative Agent may, on behalf of the Participating Banks, appoint a successor Administrative Agent, which shall be any Participating Bank hereunder or any commercial bank organized under the laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $200,000,000. Upon the acceptance of its appointment as the Administrative Agent hereunder, such successor Administrative Agent shall thereupon succeed to and become vested with all the rights and duties of the retiring or removed Administrative Agent under the Credit Documentshereunder, and the retiring Administrative Agent shall be discharged from its duties and obligations thereunder. After any retiring Administrative Agent’s resignation hereunder as Administrative Agent, the provisions of this Section 10 8.7 and all protective provisions of the other Credit Documents hereof shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent.