Resignation or Removal of Collateral Agent. The Collateral Agent may resign as Collateral Agent effective ten (10) Business Days after giving notice thereof to the Secured Parties for any reason, and the Collateral Agent may be removed at the unanimous election of all of the Secured Parties (other than the Secured Party that is also the Collateral Agent) for any reason. If the Collateral Agent shall resign or be removed as Collateral Agent under this Agreement, the Required Secured Parties shall appoint from among the Secured Parties (other than the Secured Party that has resigned or was removed) a successor Collateral Agent for the Secured Parties, which successor Collateral Agent shall be reasonably acceptable to the Company. If, however, in the case of resignation by the Collateral Agent, no successor Collateral Agent shall have been appointed by the time such resignation becomes effective, then the retiring Collateral Agent may, on behalf of the Secured Parties, appoint a successor Collateral Agent from among the remaining Secured Parties. Upon appointment (whether effected by the Required Secured Parties or the retiring Collateral Agent on behalf of the Secured Parties), the successor Collateral Agent shall succeed to the rights, powers and duties of the Collateral Agent, and the term "Collateral Agent" shall mean such successor Collateral Agent, effective upon its appointment, and the former Collateral Agent's rights, powers and duties as Collateral Agent shall be terminated, without any other or further act or deed on the part of such former Collateral Agent or any of the parties to this Agreement or any holder of the Debentures. After any retiring Collateral Agent's resignation or removal hereunder as Collateral Agent, the provisions of Section 12.11 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Collateral Agent under this Agreement.
Resignation or Removal of Collateral Agent. Subject to the appointment of a successor Collateral Agent as provided in Section 6.2 and the acceptance of such appointment by the successor Collateral Agent:
(a) the Collateral Agent may resign at any time by giving not less than 30 days’ notice of resignation to each Secured Debt Representative and the Borrower; and
(b) the Collateral Agent may be removed at any time, with or without cause, by an Act of Required Secured Parties.
Resignation or Removal of Collateral Agent. If the Collateral Agent resigns or is removed in accordance with the Indenture, such retiring Collateral Agent shall cease to be a party to this Agreement and all obligations imposed upon such retiring Collateral Agent pursuant to this Agreement shall be terminated as to such retiring Collateral Agent and deemed to be imposed upon the successor Collateral Agent appointed pursuant to the terms of the Indenture, provided, however, the retiring Collateral Agent’s indemnification rights contained in this Agreement, the Indenture or otherwise shall continue in favor of the retiring Collateral Agent.
Resignation or Removal of Collateral Agent. Subject to compliance by the Collateral Agent with the second sentence and third sentence of Section 5.2 hereof, if applicable, (i) the Collateral Agent may resign at any time by giving not less than 30 days’ notice of resignation to the Trustees and the Company and (ii) the Collateral Agent may be removed at any time, with or without cause, by an Act of the Applicable Authorized Representative. So long as no Event of Default has occurred and is continuing, the Company may remove the Collateral Agent, by providing written notice, if:
(i) the Collateral Agent fails to satisfy the eligibility requirements specified in clauses (i) – (iii) of Section 5.2 hereof;
(ii) the Collateral Agent is adjudged bankrupt or insolvent or an order for relief is entered with respect to the Collateral Agent under any Bankruptcy Law;
(iii) a custodian takes charge of the Collateral Agent or its property; or
(iv) the Collateral Agent becomes demonstrably incapable of acting or fails to act in any material respect in accordance with the terms of this Agreement.
Resignation or Removal of Collateral Agent. The Collateral Agent may resign at any time, upon thirty (30) days' prior written notice to Parker and EMB, and may be removed by the mutual consent of Parker axx XXX, upon at least thirty (30) days' prior notice to the Xxxxxxeral Agent. Prior to the effective date of the resignation or removal of the Collateral Agent, or any successor Collateral Agent, Parker and EMB shall appoint a successor collateral agent to hold thx Xxxxateral Shares then held by the Collateral Agent, and any such successor collateral agent shall execute and deliver to the predecessor collateral agent and to Parker and EMB an instrument accepting such appointment, and thereupxx xxxh successor collateral agent shall, without further act, become vested with all the rights and powers of the predecessor collateral agent as if originally named in this Collateral Agreement, and shall thereafter become subject to the duties of the predecessor collateral agent. If Parker and EMB are unable to agree on a successor collateral agent bx xxx effective date of the resignation or removal of the Collateral Agent, or any successor collateral agent, the Collateral Shares then held by the Collateral Agent or such successor collateral agent shall be deposited with a party that shall be selected by EMB provided that EMB shall provide a written opinion of its legal counsel (who shall be reasonably acceptable to Parker) that the holding of the Collateral Shares by such party shalx xxxxit Parker to obtain and maintain a valid perfected first lien position xx xxx Collateral Shares.
Resignation or Removal of Collateral Agent. The Collateral Agent may resign as Collateral Agent at any time upon written notice to the Secured Party Representatives and Grantor, and may be removed at any time with or without cause by the Required Secured Parties, with any such resignation or removal to become effective only upon the appointment of a successor Collateral Agent under this Section. If the Collateral Agent shall provide notice of its resignation or be removed as Collateral Agent, then the Required Secured Parties shall (and if no such successor shall have been appointed within 45 days of the Collateral Agent’s resignation or removal, the Collateral Agent may) appoint a successor agent for the Secured Parties, which successor agent shall be reasonably acceptable to Grantor, whereupon such successor agent shall succeed to the rights, powers and duties of the “Collateral Agent,” and the term “
Resignation or Removal of Collateral Agent. Subject to the appointment of a successor Collateral Agent as provided in Section 4.2 of these Protocols (“Successor Collateral Agent”), and the acceptance of such appointment by the Successor Collateral Agent:
(a) Collateral Agent may resign at any time by giving not less than ninety (90) days’ notice of resignation to ETS and Xxxxxx or be removed by ETS at any time without notice for failure to perform or for any other reason by giving not less than thirty (30) days’ notice of termination to Collateral Agent and Xxxxxx; and
(b) Lender will be notified of the Successor Collateral Agent by ETS within reasonable time of the effective change.
Resignation or Removal of Collateral Agent. (a) Subject to the appointment of a successor Collateral Agent as provided in Section 7.2 and the acceptance of such appointment by the successor Collateral Agent:
(i) the Collateral Agent may resign at any time by giving not less than 30 days’ notice of resignation to each Secured Debt Representative and the Company; and
(ii) the Collateral Agent may be removed at any time, with or without cause, by an Act of Required Debtholders.
(b) The initial Collateral Agent, The Bank of New York, shall be automatically discharged upon the issuance of the first Series of First Priority Lien Debt to be issued hereunder. Upon such removal, the Company shall promptly pay the Collateral Agent for all of its accrued and unpaid fees and expenses incurred in accordance with this Agreement and the other Security Documents.
Resignation or Removal of Collateral Agent. Section 8.15 Applicable Foreign Law Section 8.16 U.S.A Patriot Act Schedule 3.01 Schedule 3.02 Schedule 3.05 Schedule 5.02A Schedule 5.02B Exhibit A U.S. Pledge and Security Supplement This U.S. PLEDGE AND SECURITY AGREEMENT dated as of [ ], [ ] (as amended, restated, supplemented or otherwise modified from time to time, this “Agreement”) is entered into by each of the undersigned grantors (each, a “Grantor” and, together with any other entity that becomes a grantor hereunder pursuant to Section 8.01 hereof, collectively, the “Grantors”) in favor of CITIBANK, N.A. (“Citibank”), as Collateral Agent (as defined below) for the Secured Creditors (as such term is defined in the Credit Agreement referred to below).
Resignation or Removal of Collateral Agent. 6 2.8 Authorization................................................. 7 2.9
