Common use of Resignation of Agent; Successor Agent Clause in Contracts

Resignation of Agent; Successor Agent. Agent may resign on sixty (60) days written notice to each Lender and Borrowing Agent and upon such resignation, Required Xxxxxxx will promptly designate a successor Agent reasonably satisfactory to Borrowers (provided that no such approval by Borrowers shall be required (i) in any case where the successor Agent is one of the Lenders or (ii) after the occurrence and during the continuance of any Event of Default). Any [PHI Group] Revolving Credit, Term Loan and Security Agreement

Resignation of Agent; Successor Agent. Agent may resign on sixty (60) days written notice to each Lender and Borrowing Agent and upon such resignation, Required Xxxxxxx Lenders will promptly designate a successor Agent reasonably satisfactory to Borrowers Loan Parties (provided that no such approval by Borrowers shall be required (i) in any case where the successor Agent is one of the Lenders or (ii) after the occurrence and during the continuance of any Event of Default). Any [PHI Group] Revolving Credit, Term Loan and Security Agreementthat

Resignation of Agent; Successor Agent. Agent may resign on sixty (60) days written notice to each Lender and Borrowing Agent and upon such resignation, Required Xxxxxxx will promptly designate a successor Agent reasonably satisfactory to Borrowers the Loan Parties (provided that no such approval by Borrowers the Loan Parties shall be required (i) in any case where the successor Agent is one of the Lenders or (ii) after the occurrence and during the continuance of any Event of Default). Any [PHI Group] Revolving Creditsuch successor Agent shall succeed to the rights, Term Loan powers and Security Agreementduties of Agent, and shall in 127