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

Resignation or Removal of the Collateral Agent. Until ---------------------------------------------- such time as the Obligations shall have been paid in full, the Collateral Agent may at any time, by giving written notice to the Pledgor, Senior Noteholders and Convertible Noteholders, resign and be discharged of the responsibilities hereby created, such resignation to become effective upon (i) the appointment of a successor Collateral Agent and (ii) the acceptance of such appointment by such successor Collateral Agent. As promptly as practicable after the giving of any such notice, the Majority Noteholders shall appoint a successor Collateral Agent, which successor Collateral Agent shall be reasonably acceptable to the Pledgor. If no successor Collateral Agent shall be appointed and shall have accepted such appointment within 90 days after the Collateral Agent gives the aforesaid notice of resignation, the Collateral Agent may apply to any court of competent jurisdiction to appoint a successor Collateral Agent to act until such time, if any, as a successor shall have been appointed as provided in this Section 19.16. Any successor so appointed by such court shall immediately and without further act be superseded by any successor Collateral Agent appointed by the Majority Noteholders, as provided in this Section 19.

Resignation or Removal of the Collateral Agent. Until ---------------------------------------------- such time as the Obligations Secured Indebtedness shall have been paid in full, the Collateral Agent may at any time, by giving written notice to the Pledgor, Senior Noteholders Company and Convertible NoteholdersSecured Parties, resign and be discharged of the responsibilities hereby created, such resignation to become effective upon (i) the appointment of a successor Collateral Agent and (ii) the acceptance of such appointment by such successor Collateral Agent. As promptly as practicable after the giving of any such notice, the Majority Noteholders Secured Parties shall appoint a successor Collateral Agent, which successor Collateral Agent shall be reasonably acceptable to the PledgorCompany. If no successor Collateral Agent shall be appointed and shall have accepted such appointment within 90 days after the Collateral Agent gives the aforesaid notice of resignation, the Collateral Agent may apply to any court of competent jurisdiction to appoint a successor Collateral Agent to act until such time, if any, as a successor shall have been appointed as provided in this Section 19.1619.15. Any successor so appointed by such court shall immediately and without further act be superseded by any successor Collateral Agent appointed by the Majority NoteholdersSecured Parties, as provided in this Section 19.

Resignation or Removal of the Collateral Agent. Until ---------------------------------------------- such time as the Obligations obligations shall have been paid in full, the Collateral Agent may at any time, by giving written notice to the Pledgor, Senior Noteholders Pledgor and Convertible NoteholdersHolders, resign and be discharged of the responsibilities hereby created, such resignation to become effective upon (i) the appointment of a successor Collateral Agent and (ii) the acceptance of such appointment by such successor Collateral Agent. As promptly as practicable after the giving of any such notice, the Majority Noteholders Holders shall appoint a successor Collateral Agent, which successor Collateral Agent shall be reasonably acceptable to the Pledgor. If no successor Collateral Agent shall be appointed and shall have accepted such appointment within 90 days after the Collateral Agent gives the aforesaid notice of resignation, the Collateral Agent may apply to any court of competent jurisdiction to appoint a successor Collateral Agent to act until such time, if any, as a successor shall have been appointed as provided in this Section 19.1620.16. Any successor so appointed by such court shall immediately and without further act be superseded by any successor Collateral Agent appointed by the Majority NoteholdersHolders, as provided in this Section 1920.

Resignation or Removal of the Collateral Agent. Until ---------------------------------------------- such time as the Obligations Secured Indebtedness shall have been paid in full, the Collateral Agent may at any time, by giving written notice to the Pledgor, Senior Noteholders Company and Convertible NoteholdersSecured Parties, resign and be discharged of the responsibilities hereby created, such resignation to become effective upon (i) the appointment of a successor Collateral Agent and (ii) the acceptance of such appointment by such successor Collateral Agent. As promptly as practicable after the giving of any such notice, the Majority Noteholders Secured Parties shall appoint a successor Collateral Agent, which successor Collateral Agent shall be reasonably acceptable to the PledgorCompany. If no successor Collateral Agent shall be appointed and shall have accepted such appointment within 90 days after the Collateral Agent gives the aforesaid notice of resignation, the Collateral Agent may apply to any court of competent jurisdiction to appoint a successor Collateral Agent to act until such time, if any, as a successor shall have been appointed as provided in this Section 19.1618.15. Any successor so appointed by such court shall immediately and without further act be superseded by any successor Collateral Agent appointed by the Majority NoteholdersSecured Parties, as provided in this Section 1918.

Resignation or Removal of the Collateral Agent. Until ---------------------------------------------- such time as the Obligations shall have been paid in full, the Collateral Agent may at any time, by giving written notice to the Pledgor, Pledgor and Holders of Senior Noteholders and Convertible NoteholdersSecured Discount Notes, resign and be discharged of the responsibilities hereby created, such resignation to become effective upon upon (i) the appointment of a successor Collateral Agent and (ii) the acceptance of such appointment by such successor Collateral Agent. As promptly as practicable after the giving of any such notice, the Majority Noteholders Holders of Senior Secured Discount Notes shall appoint a successor Collateral Agent, which successor Collateral Agent shall be reasonably acceptable to the Pledgor. If no successor Collateral Agent shall be appointed and shall have accepted such appointment within 90 days after the Collateral Agent gives the aforesaid notice of resignation, the Collateral Agent may apply to any court of competent jurisdiction to appoint a successor Collateral Agent to act until such time, if any, as a successor shall have been appointed as provided in this Section 19.1618.16. Any successor so appointed by such court shall immediately and without further act be superseded by any successor Collateral Agent appointed by the Majority NoteholdersHolders of Senior Secured Discount Notes, as provided in this Section 1918.