Common use of Resignation of Collateral Agent Clause in Contracts

Resignation of Collateral Agent. The Collateral Agent may resign from the performance of all its functions and duties hereunder at any time by giving at least ten (10) business days’ prior written notice to the Company and each holder of Debentures. Such resignation shall take effect upon the acceptance by a successor Collateral Agent of appointment pursuant to clauses (b) and (c) below or as otherwise provided below. The Required Holders may, by written consent, remove the Collateral Agent from all its functions and duties hereunder.

Resignation of Collateral Agent. The Collateral Agent may resign from the performance of all its functions and duties hereunder at any time by giving at least ten (10) business days’ prior written notice to the Company and each holder of Debenturesthe Purchaser. Such resignation shall take effect upon the acceptance by a successor Collateral Agent of appointment pursuant to clauses (b) and (c) below or as otherwise provided below. The Required Holders Purchaser may, by written consent, remove the Collateral Agent from all its functions and duties hereunder.

Resignation of Collateral Agent. The Collateral Agent may resign from by mailing notice specifying the performance of all its functions time and duties hereunder at any time by giving at least ten (10) business days’ prior written notice date when such resignation shall take effect to the Company Representative and each holder of Debenturesto all Holders. Such resignation shall take effect upon at the acceptance by time and on the date specified in such notice (being not less than thirty (30) calendar days after the mailing of such notice) unless previously a successor Collateral Agent shall have been appointed as hereinafter provided, in which event such resignation shall take effect immediately upon the appointment of appointment pursuant to clauses (b) and (c) below or as otherwise provided below. The Required Holders may, by written consent, remove the Collateral Agent from all its functions and duties hereundersuch successor.