Common use of Resignation; Removal; Successors Clause in Contracts

Resignation; Removal; Successors. (a) Except as provided below, the Exchange Rate Agent may at any time resign as Exchange Rate Agent by giving written notice to the Bank of such intention on its part, specifying the date on which its desired resignation shall become effective, provided that such notice shall not be given less than 60 days prior to the said effective date unless the Bank otherwise agrees in writing. Except as provided below, the Bank may remove the Exchange Rate Agent (with or without cause) at any time by filing with the Exchange Rate Agent an instrument in writing signed on behalf of the Bank by an authorized person thereof and specifying such removal and the date when it is intended to become effective. Such resignation or removal shall take effect upon the date of the appointment by the Bank, as hereinafter provided, of a successor Exchange Rate Agent. If within 60 days after notice of resignation or removal has been given, a successor Exchange Rate Agent has not been appointed, the Exchange Rate Agent may petition a court of competent jurisdiction to appoint a successor Exchange Rate Agent. A successor Exchange Rate Agent shall be appointed by the Bank by an instrument in writing signed on behalf of the Bank by an authorized person thereof and the successor Exchange Rate Agent. Upon the appointment of a successor Exchange Rate Agent and acceptance by it of such appointment, the Exchange Rate Agent so superseded shall cease to be the Exchange Rate Agent hereunder. Upon its resignation or removal, the Exchange Rate Agent shall be entitled to the payment by the Bank of its compensation, if any is owed to it, for services rendered hereunder and to the reimbursement of all reasonable out-of-pocket expenses incurred in connection with the services rendered by it hereunder.

Resignation; Removal; Successors. (a) Except as provided below, the The Exchange Rate Agent may at any time resign as Exchange Rate Agent by giving written notice to the Bank Corporation of such intention on its part, specifying the date on which its desired resignation shall become effective, provided that such notice shall not be given not less than 60 days prior to the said effective date unless the Bank Corporation otherwise agrees in writing. Except as provided below, the Bank may remove the The Exchange Rate Agent (with or without cause) at any time hereunder may be removed by the filing with the Exchange Rate Agent it of an instrument in writing signed on behalf of by the Bank by an authorized person thereof and Corporation specifying such removal and the date when it is intended to shall become effectiveeffective (such effective date being at least 20 days after the said filing). Such resignation or removal shall take effect upon the earlier of (i) the effective date thereof as set forth in the notice of resignation or instrument of removal and (ii)(a) the appointment by the Bank, Corporation as hereinafter provided of a successor Exchange Rate Agent and (b) the acceptance of such appointment by such successor Exchange Rate Agent; provided, however, that in the event the Exchange Rate Agent has given not less than 60 days' prior notice of its desired resignation, and during such 60 days there has not been acceptance by a successor Exchange Rate Agent of its appointment as successor Exchange Rate Agent, the Exchange Rate Agent so resigning may petition any court of competent jurisdiction for the appointment of a successor Exchange Rate Agent. If within 60 days after notice of resignation or removal has been given, The Corporation covenants that it shall appoint a successor Exchange Rate Agent has not been appointed, the Exchange Rate Agent may petition a court as soon as practicable after receipt of competent jurisdiction to appoint a successor Exchange Rate Agent. A successor Exchange Rate Agent shall be appointed by the Bank by an instrument in writing signed on behalf any notice of the Bank by an authorized person thereof and the successor Exchange Rate Agent. Upon the appointment of a successor Exchange Rate Agent and acceptance by it of such appointment, the Exchange Rate Agent so superseded shall cease to be the Exchange Rate Agent resignation hereunder. Upon its resignation or removalremoval becoming effective, the retiring Exchange Rate Agent shall be entitled to the payment by the Bank of its compensation, if any is owed to it, for services rendered hereunder and to the reimbursement of all unpaid reasonable out-of-pocket expenses (including legal, advertising, telex and cable expenses) incurred in connection with the services rendered by it hereunderthe retiring Exchange Rate Agent to the date such resignation or removal becomes effective.

Resignation; Removal; Successors. (a) Except as provided below, the Exchange Rate Agent may at any time resign as Exchange Rate Agent by giving written notice to the Bank of such intention on its part, specifying the date on which its desired resignation shall become effective, provided that such notice shall not be given less not fewer than 60 days prior to the said effective date unless the Bank otherwise agrees in writing. Except as provided below, the Bank may remove the Exchange Rate Agent (with or without cause) at any time by filing with the Exchange Rate Agent an instrument in writing signed on behalf of the Bank by an authorized person thereof and specifying such removal and the date when it is intended to become effective. Such resignation or removal shall take effect upon the date of the appointment by the Bank, as hereinafter provided, of a successor Exchange Rate Agent. If within 60 days after notice of resignation or removal has been given, a successor Exchange Rate Agent has not been appointed, the Exchange Rate Agent may petition a court of competent jurisdiction to appoint a successor Exchange Rate Agent. A successor Exchange Rate Agent shall be appointed by the Bank by an instrument in writing signed on behalf of the Bank by an authorized person thereof and the successor Exchange Rate Agent. Upon the appointment of a successor Exchange Rate Agent and acceptance by it of such appointment, the Exchange Rate Agent so superseded shall cease to be the Exchange Rate Agent hereunder. Upon its resignation or removal, the Exchange Rate Agent shall be entitled to the payment by the Bank of its compensation, if any is owed to it, for services rendered hereunder and to the reimbursement of all reasonable out-of-pocket expenses incurred in connection with the services rendered by it hereunder.

Resignation; Removal; Successors. (a) Except as provided below, the The Exchange Rate -------------------------------- Agent may at any time resign as Exchange Rate Agent by giving written notice to the Bank Corporation of such intention on its part, specifying the date on which its desired resignation shall become effective, provided that such notice shall not be given not less than 60 days prior to the said effective date unless the Bank Corporation otherwise agrees in writing. Except as provided below, the Bank may remove the The Exchange Rate Agent (with or without cause) at any time hereunder may be removed by the filing with the Exchange Rate Agent it of an instrument in writing signed on behalf of by the Bank by an authorized person thereof and Corporation specifying such removal and the date when it is intended to shall become effectiveeffective (such effective date being at least 20 days after the said filing). Such resignation or removal shall take effect upon the earlier of (i) the effective date thereof as set forth in the notice of resignation or instrument of removal and (ii)(a) the appointment by the Bank, Corporation as hereinafter provided of a successor Exchange Rate Agent and (b) the acceptance of such appointment by such successor Exchange Rate Agent; provided, however, that in the event the Exchange ----------------- Rate Agent has given not less than 60 days' prior notice of its desired resignation, and during such 60 days there has not been acceptance by a successor Exchange Rate Agent of its appointment as successor Exchange Rate Agent, the Exchange Rate Agent so resigning may petition any court of competent jurisdiction for the appointment of a successor Exchange Rate Agent. If within 60 days after notice of resignation or removal has been given, The Corporation covenants that it shall appoint a successor Exchange Rate Agent has not been appointed, the Exchange Rate Agent may petition a court as soon as practicable after receipt of competent jurisdiction to appoint a successor Exchange Rate Agent. A successor Exchange Rate Agent shall be appointed by the Bank by an instrument in writing signed on behalf any notice of the Bank by an authorized person thereof and the successor Exchange Rate Agent. Upon the appointment of a successor Exchange Rate Agent and acceptance by it of such appointment, the Exchange Rate Agent so superseded shall cease to be the Exchange Rate Agent resignation hereunder. Upon its resignation or removalremoval becoming effective, the retiring Exchange Rate Agent shall be entitled to the payment by the Bank of its compensation, if any is owed to it, for services rendered hereunder and to the reimbursement of all unpaid reasonable out-of-pocket expenses (including legal, advertising, telex and cable expenses) incurred in connection with the services rendered by it hereunderthe retiring Exchange Rate Agent to the date such resignation or removal becomes effective.

Resignation; Removal; Successors. (a) Except as provided below, the The Exchange Rate Agent --------------------------------- may at any time resign as Exchange Rate Agent by giving written notice to the Bank Corporation of such intention on its part, specifying the date on which its desired resignation shall become effective, provided that such notice shall not be given not less than 60 days prior to the said effective date unless the Bank Corporation otherwise agrees in writing. Except as provided below, the Bank may remove the The Exchange Rate Agent (with or without cause) at any time hereunder may be removed by the filing with the Exchange Rate Agent it of an instrument in writing signed on behalf of by the Bank by an authorized person thereof and Corporation specifying such removal and the date when it is intended to shall become effectiveeffective (such effective date being at least 20 days after the said filing). Such resignation or removal shall take effect upon the earlier of (i) the effective date thereof as set forth in the notice of resignation or instrument of removal and (ii)(a) the appointment by the Bank, Corporation as hereinafter provided of a successor Exchange Rate Agent and (b) the acceptance of such appointment by such successor Exchange Rate Agent; provided, however, -------- ------- that in the event the Exchange Rate Agent has given not less than 60 days' prior notice of its desired resignation, and during such 60 days there has not been acceptance by a successor Exchange Rate Agent of its appointment as successor Exchange Rate Agent, the Exchange Rate Agent so resigning may petition any court of competent jurisdiction for the appointment of a successor Exchange Rate Agent. If within 60 days after notice of resignation or removal has been given, The Corporation covenants that it shall appoint a successor Exchange Rate Agent has not been appointed, the Exchange Rate Agent may petition a court as soon as practicable after receipt of competent jurisdiction to appoint a successor Exchange Rate Agent. A successor Exchange Rate Agent shall be appointed by the Bank by an instrument in writing signed on behalf any notice of the Bank by an authorized person thereof and the successor Exchange Rate Agent. Upon the appointment of a successor Exchange Rate Agent and acceptance by it of such appointment, the Exchange Rate Agent so superseded shall cease to be the Exchange Rate Agent resignation hereunder. Upon its resignation or removalremoval becoming effective, the retiring Exchange Rate Agent shall be entitled to the payment by the Bank of its compensation, if any is owed to it, for services rendered hereunder and to the reimbursement of all unpaid reasonable out-of-pocket expenses (including legal, advertising, telex and cable expenses) incurred in connection with the services rendered by it hereunderthe retiring Exchange Rate Agent to the date such resignation or removal becomes effective.