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

Resignation or Removal of the Contingent Agent. The Contingent Agent may resign its duties and be discharged from all further duties and liabilities hereunder after giving thirty (30) days notice in writing to the Issuer; provided that such shorter notice may be given, as such Issuer shall accept as sufficient. At any time, the Issuer, upon notice and with or without cause, may remove the Contingent Agent. In the event the office of the Contingent Agent shall become vacant by resignation or incapacity to act or otherwise, the Issuer may, but is not required to, appoint in writing a new Contingent Agent in place of the Contingent Agent vacating the office.