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

Resignation of the Administrative Agent; Successor Administrative Agent. The Administrative Agent may resign as the Administrative Agent upon 60 days' notice to the Lenders and the Borrower. Upon the resignation of the Administrative Agent, the Required Lenders shall appoint from among the Lenders a successor Administrative Agent which is a bank or a trust company for the Lenders subject to prior approval by the Borrower (such approval not to be unreasonably withheld; provided that such approval shall not be required if a Default or an Event of Default then exists), whereupon such successor agent shall succeed to the rights, powers and duties of the Administrative Agent, and the term "Administrative Agent" shall include such successor agent effective upon its appointment, and the resigning Administrative Agent's rights, powers and duties as the Administrative Agent shall be terminated, without any other or further act or deed on the part of such former Administrative Agent or any of the parties to this Agreement. After the resignation of the Administrative Agent hereunder, the provisions of this Section 10 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent under this Agreement.

Resignation of the Administrative Agent; Successor Administrative Agent. The Administrative Agent may resign as the Administrative Agent upon 60 20 days' notice to the Lenders and the BorrowerMutual Risk. Upon the resignation of the Administrative Agent, the Required Lenders shall appoint from among the Lenders a successor Administrative Agent which is a bank or a trust company for the Lenders subject to prior approval by the Borrower Mutual Risk (such approval not to be unreasonably withheld; provided that such approval shall not be withheld or delayed or required if a Default or an Event of Default then exists), whereupon such successor agent shall succeed to the rights, powers and duties of the such Administrative Agent, and the term "Administrative Agent" shall include such successor agent effective upon its appointment, and the resigning Administrative Agent's rights, powers and duties as the an Administrative Agent shall be terminated, without any other or further act or deed on the part of such former Administrative Agent or any of the parties to this Agreement. If the Required Lenders fail to appoint a successor Administrative Agent pursuant to the provisions of the preceding sentence, the resigning Administrative Agent shall designate one of the Lenders as successor Administrative Agent. After the resignation of the an Administrative Agent hereunder, the provisions of this Section 10 8 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent under this Agreement.

Resignation of the Administrative Agent; Successor Administrative Agent. The Administrative Agent may resign as the Administrative Agent upon 60 days' notice to the Lenders and the BorrowerBorrowers. Upon the resignation of the Administrative Agent, the Required Lenders shall appoint from among the Lenders a successor Administrative Agent which is a bank or a trust company for the Lenders subject to prior approval by the Borrower Borrowers (such approval not to be unreasonably withheld; provided that such approval shall not be required if a Default or an Event of Default then exists), whereupon such successor agent shall succeed to the rights, powers and duties of the Administrative Agent, and the term "Administrative Agent" shall include such successor agent effective upon its appointment, and the resigning Administrative Agent's rights, powers and duties as the Administrative Agent shall be terminated, without any other or further act or deed on the part of such former Administrative Agent or any of the parties to this Agreement. After the resignation of the Administrative Agent hereunder, the provisions of this Section 10 11 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent under this Agreement.

Resignation of the Administrative Agent; Successor Administrative Agent. The Administrative Agent, the Canadian Administrative Agent and the U.K. Administrative Agent may resign as the Administrative Agent such Agents upon 60 20 days' notice to the Lenders and the BorrowerBanks. Upon the resignation of the Administrative Agentsuch Agents, the Required Lenders Banks shall appoint from among the Lenders Banks a successor Administrative Agent, Canadian Administrative Agent and U.K. Administrative Agent which is a bank are banks or a trust company companies for the Lenders Banks subject to prior approval by the Borrower Company (such approval not to be unreasonably withheld; provided that such approval shall not be required if a Default or an Event of Default then exists), whereupon such successor agent agents shall succeed to the rights, powers and duties of the Administrative Agentsuch Agents, and the term terms "Administrative Agent", "Canadian Administrative Agent" and "U.K. Administrative Agent" shall include such successor agent agents effective upon its their appointment, and the resigning Administrative Agent's Agents' rights, powers and duties as the Administrative Agent such Agents shall be terminated, without any other or further act or deed on the part of such former Administrative Agent Agents or any of the parties to this Agreement. After the resignation of the Administrative Agent such Agents hereunder, the provisions of this Section 10 11 shall inure to its benefit as to any actions taken or omitted to be taken by it either of them while it was Administrative Agent they were Agents under this Agreement.