Common use of RESIGNATION OR TERMINATION AND APPOINTMENT OF SUCCESSOR Clause in Contracts

RESIGNATION OR TERMINATION AND APPOINTMENT OF SUCCESSOR. (a) FMS-WM agrees, for the benefit of the holders from time to time of the Notes, that there shall at all times be a Fiscal Agent hereunder which shall be a bank or trust company organized and doing business under the laws of the United States of America or the State of New York, in good standing and having an established place of business in The City of New York, State of New York, U.S.A., and authorized under such laws to exercise corporate trust powers, until all the Notes authenticated and delivered hereunder (i) shall have been delivered to the Fiscal Agent or Registrar for cancellation or (ii) become due and payable and monies sufficient to pay the principal thereof and interest due thereon shall have been made available to the Paying Agent and either paid to the persons entitled thereto or returned to FMS-WM as provided herein and in such Notes.