Common use of Resignation or Removal of the Agent Clause in Contracts

Resignation or Removal of the Agent. Subject to the appointment and acceptance of a successor Agent as provided in this Section 9.10, the Agent may resign at any time by giving notice thereof to the Banks and the Borrower and the Agent may be removed at any time with or without cause by the Required Banks. Upon any such resignation or removal, the Required Banks shall have the right to appoint a successor Agent. If no successor Agent shall have been so appointed by the Required Banks and shall have accepted such appointment within 30 days after the retiring Agent's notice of resignation or the Required Banks' removal of the retiring Agent, then the retiring Agent may, on behalf of the Banks, appoint a successor Agent. Any successor Agent shall be a bank which has a combined capital and surplus of at least $500,000,000. Upon the acceptance of any appointment as Agent hereunder by a successor Agent, such successor Agent 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 as Agent, the provisions of this Article IX 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 the Agent hereunder.

Resignation or Removal of the Agent. Subject to the appointment and acceptance of a successor Agent as provided in this Section 9.10below, the Agent may resign at any time by giving notice thereof to the Banks Lenders and the Borrower Borrower, and the Agent may be removed at any time with or without cause by the Required BanksLenders. Upon any such resignation or removal, the Required Banks Lenders (after consultation with the Borrower if no Event of Default then exists) shall have the right to appoint a successor Agent. If no successor Agent shall have been so appointed by the Required Banks Lenders and shall have accepted such appointment within 30 thirty (30) days after the retiring Agent's ’s giving of notice of resignation or the Required Banks' Lenders’ removal of the retiring Agent, then the retiring Agent may, on behalf of the BanksLenders, appoint a successor Agent. Any successor Agent shall be a bank which has a combined capital and surplus of at least $500,000,000. Upon the acceptance of any such appointment as Agent hereunder by a successor Agent, such successor Agent 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 ’s resignation or removal hereunder as the Agent, the provisions of this Article IX Section 14 and Section 15(c) 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 the Agent hereunderAgent.

Resignation or Removal of the Agent. Subject to the appointment and acceptance of a successor Agent as provided in this Section 9.10below, the Agent may resign at any time by giving written notice thereof to the Banks and the Borrower and the Agent may be removed at any time with or without cause by the Required Majority Banks. Upon any such resignation or removal, the Required Majority Banks shall have the right to appoint a successor Agent. If no successor Agent shall have been so appointed by the Required Majority Banks and shall have accepted such appointment within 30 thirty (30) days after the retiring Agent's giving of notice of resignation or the Required Majority Banks' removal of the retiring Agent, then the retiring Agent may, on behalf of the Banks, appoint a successor Agent. Any successor Agent shall be a bank which has a combined capital and surplus of at least $500,000,000. Upon the acceptance of any appointment as the Agent hereunder by a successor Agent, such successor Agent 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 as the Agent, the provisions of this Article IX shall continue in effect for its benefit in respect of to any actions taken or omitted to be taken by it while it was acting as the Agent hereunderAgent.