Common use of Resignation of Agents Clause in Contracts

Resignation of Agents. Subject to the appointment and acceptance of a successor Agent as provided in this Section 11.06, any Agent may resign at any time by notifying the Lenders, the Issuing Bank and the Borrower. Upon any such resignation, the Majority Lenders shall have the right, in consultation with and upon the approval of the Borrower (so long as no Event of Default has occurred and is continuing), which approval shall not be unreasonably withheld, to appoint a successor. If no successor shall have been so appointed by the Majority Lenders and shall have accepted such appointment within 30 days after the retiring Agent gives notice of its resignation, then the retiring Agent may, on behalf of the Lenders and the Issuing Bank, appoint a successor Agent which shall be a bank with an office in New York, New York, or an Affiliate of any such bank. Upon the acceptance of its appointment as Agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Agent, and the retiring Agent shall be discharged from its duties and obligations hereunder. After the Agent’s resignation hereunder, the provisions of this ARTICLE XI and

Resignation of Agents. Subject to the appointment and acceptance of a successor Agent as provided in this Section 11.06, any Agent may resign (in its capacity as agent, collateral agent, or both) at any time by notifying the Lenders, the Issuing Bank Holders and the BorrowerCompany. Upon any such resignation, the Majority Lenders Holders shall have the right, in consultation with and upon the approval of the Borrower (so long as no Event of Default has occurred and is continuing), which approval shall not be unreasonably withheldCompany, to appoint a successor. If no successor shall have been so appointed by the Majority Lenders Holders and shall have accepted such appointment within 30 days after the retiring Agent the agent gives notice of its resignation, then the retiring Agent agent may, upon not less than ten days’ notice, on behalf of the Lenders and the Issuing BankHolders, appoint a successor Agent which shall be a bank with an office in New Yorkagent or collateral agent, New Yorkas the case may be, or an Affiliate confer all the rights of any such bankthe agent on the Majority Holders. Upon the acceptance of its appointment as Agent the agent or collateral agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Agent, (or retired) agent and the retiring Agent agent shall be discharged from its duties and obligations hereunder. The fees payable by the Company to a successor agent or collateral agent shall be the same as those payable to its predecessor unless otherwise agreed between the Company and such successor. After the Agent’s resignation hereunder, the provisions of this ARTICLE XI andSection shall continue in effect for its benefit in respect of any actions taken or omitted to be taken by it while it was acting as Agent.

Resignation of Agents. Subject to the appointment and acceptance of a successor Agent as provided in this Section 11.06, any Agent may resign at any time by notifying the Lenders, the Issuing Bank and the Borrower. Upon any such resignation, the Majority Lenders shall have the right, in consultation with and upon the approval of the Borrower (so long as no Event of Default has occurred and is continuing), which approval shall not be unreasonably withheld, to appoint a successor. If no successor shall have been so appointed by the Majority Lenders and shall have accepted such appointment within 30 days after the retiring Agent gives notice of its resignation, then the retiring Agent may, on behalf of the Lenders and the Issuing Bank, appoint a successor Agent which shall be a bank with an office in New York, New York, or an Affiliate of any such bank. Upon the acceptance of its appointment as Agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Agent, and the retiring Agent shall be discharged from its duties and obligations hereunder. After the Agent’s resignation hereunder, the provisions of this ARTICLE XI andand Section 12.03 shall continue in effect for the benefit of such retiring Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while it was acting as Agent.

Resignation of Agents. Subject to The Agent and the appointment and acceptance of a successor Agent as provided in this Section 11.06, any Collateral Agent may resign at any time by notifying the Lenders, the Issuing Bank Purchasers and the BorrowerParent. Upon any such resignation, the Majority Lenders Required Holders shall have the right, in consultation with and upon the approval of the Borrower (so long as no Event of Default has occurred and is continuing), which approval shall not be unreasonably withheldParent, to appoint a successor. If no successor shall have been so appointed by the Majority Lenders Required Holders and shall have accepted such appointment within 30 days after the retiring Agent the agent gives notice of its resignation, then the retiring Agent agent may, upon not less than ten days’ notice, on behalf of the Lenders and the Issuing BankPurchasers, appoint a successor Agent which shall be a bank with an office in New Yorkor Collateral Agent, New Yorkas the case may be, or an Affiliate confer all the rights of any such bankthe agent on the Required Holders. Upon the acceptance of its appointment as the Agent or Collateral Agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Agent, (or retired) agent and the retiring Agent agent shall be discharged from its duties and obligations hereunder. The fees payable by the Parent to a successor Agent or Collateral Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Parent and such successor. After the Agent’s resignation or Collateral Agent’s resignation(s) hereunder, the provisions of this ARTICLE XI andSection shall continue in effect for its benefit in respect of any actions taken or omitted to be taken by it while it was acting as the Agent or Collateral Agent.

Resignation of Agents. Subject to the appointment and acceptance of a successor Agent as provided in this Section 11.06, any Agent may resign at any time by notifying the Lenders, the Issuing Bank Lenders and the Borrower. Upon any such resignation, the Majority Lenders shall have the right, in consultation with and upon the approval of the Borrower (so long as no Event of Default has occurred and is continuing), which approval shall not be unreasonably withheld, to appoint a successor. If no successor shall have been so appointed by the Majority Lenders and shall have accepted such appointment within 30 thirty (30) days after the retiring Administrative Agent gives notice of its resignationresignation , then the retiring Administrative Agent may, on behalf of the Lenders and the Issuing BankLenders, appoint a successor Agent Administrative Agent, which shall be a bank with an office in New York, New York, York or an Affiliate of any such bank. Upon the acceptance of its appointment as Agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Agent, and the retiring Agent shall be discharged from its duties and obligations hereunder. After the Administrative Agent’s resignation hereunder, the provisions of this ARTICLE Article XI andand Section 12.03 shall continue in effect for the benefit of such retiring Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while it was acting as Agent.