Common use of Resignation or Removal of Agents Clause in Contracts

Resignation or Removal of Agents. Subject to the appointment and acceptance of a successor Agent as provided in this Section 11.08, any Agent may resign at any time by giving notice thereof to the Lenders and the Company, and any Agent may be removed at any time, for cause, by the Required Lenders. Upon any such resignation or removal, the Required Lenders, with the consent of the Company (which consent shall not be unreasonably withheld or delayed), shall have the right to appoint a successor Agent. If no successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after either the retiring Agent's giving of notice of resignation or the Required Lenders' removal of the retiring Agent, then the retiring Agent may, on behalf of the Lenders, appoint its successor. Upon the acceptance of any appointment as an Agent hereunder by a successor, such successor shall thereupon 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 any retiring Agent's resignation or removal hereunder, the provisions of this Article XI 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 an Agent.

Resignation or Removal of Agents. Subject to the appointment and acceptance of a successor Agent as provided in this Section 11.08below, any Agent may resign at any time by giving written notice thereof to the Lenders Banks and the Company, Company and any Agent may be removed at any time, for cause, time with or without cause by the Required LendersMajority Banks. Upon any such resignation or removal, the Required Lenders, with the consent of the Company (which consent shall not be unreasonably withheld or delayed), Majority Banks shall have the right to appoint a successor Agent. If no successor Agent shall have been so appointed by the Required Lenders Majority Banks and shall have accepted such appointment within 30 days after either the retiring Agent's giving of notice of resignation or the Required LendersMajority Banks' removal of the retiring Agent, then the retiring Agent may, on behalf of the LendersBanks, appoint its successora successor Agent, which shall be a bank which has an office (or an affiliate or a Subsidiary with an office) in New York, New York. Upon the acceptance of any appointment as an Agent hereunder by a successorsuccessor Agent, such successor Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Agent Agent, and the retiring Agent shall be discharged from its duties and obligations hereunder. After any retiring Agent's resignation or removal hereunderhereunder as Agent, the provisions of this Article XI Agreement 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 an the Agent.

Resignation or Removal of Agents. Subject to the appointment and acceptance of a successor Agent as provided in this Section 11.0811.06, any Agent may resign at any time by giving notice thereof to notifying the Lenders and the CompanyBorrower, and any Agent may be removed at any time, for cause, time with or without cause by the Required Majority Lenders. Upon any such resignation or removal, the Required Lenders, with the consent of the Company (which consent shall not be unreasonably withheld or delayed), Majority Lenders shall have the right right, in consultation with the Borrower, to appoint a successor Agentsuccessor. If no successor shall have been so appointed by the Required Majority Lenders and shall have accepted such appointment within 30 days after either the retiring Agent's giving of Agent gives notice of its resignation or the Required Lenders' removal of the retiring Agent, then the retiring Agent may, on behalf of the Lenders, appoint its successora successor Agent. Upon the acceptance of any its appointment as an Agent hereunder by a successor, such successor shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Agent Agent, and the retiring Agent shall be discharged from its duties and obligations hereunder. The fees payable by the Borrower to a successor Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After any retiring the Agent's ’s resignation or removal hereunder, the provisions of this Article ARTICLE XI 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 an Agent.and