Resignation of the Collateral Agent. The Collateral Agent may resign at any time by providing not less than thirty (30) days’ prior written notice to the Control Party and the Grantor. If a successor Collateral Agent is not appointed by the Grantor within thirty (30) days after the Collateral Agent gives notice of its intent to resign, the retiring Collateral Agent may petition any court of competent jurisdiction to appoint a successor Collateral Agent. The Grantor shall notify the Control Party in writing upon the appointment of a successor Collateral Agent and the agreement by such person to act as successor Collateral Agent in connection with this Section 3.2.
Appears in 4 contracts
Samples: Pledge and Security Agreement (GLADSTONE LAND Corp), Pledge and Security Agreement (Farmland Partners Inc.), Pledge and Security Agreement (GLADSTONE LAND Corp)
