Common use of Successor Administrative Lender Clause in Contracts

Successor Administrative Lender. Administrative Lender may resign at any time by giving written notice thereof to Lenders and the Borrower, and may be removed at any time with or without cause by the action of all Lenders (other than Administrative Lender, if it is a Lender). Upon any such resignation or removal, Majority Lenders shall have the right to appoint a successor Administrative Lender with the prior written consent of the Borrower (which shall not be unreasonably withheld), provided that, if there exists an Event of Default that is continuing, no consent of the Borrower shall be required. If no successor Administrative Lender shall have been so appointed and shall have accepted such appointment within thirty days after the retiring Administrative Lender's giving of notice of resignation, then the retiring Administrative Lender may, on behalf of Lenders, appoint a successor Administrative Lender, which shall be a commercial bank organized under the Laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $50,000,000. Upon the acceptance of any appointment as Administrative Lender hereunder by a successor Administrative Lender, such successor Administrative Lender shall thereupon succeed to and become vested with all the Rights and duties of the retiring Administrative Lender, and the retiring Administrative Lender shall be discharged from its duties and obligations under the Loan Papers, provided that if the retiring or removed Administrative Lender is unable to appoint a successor Administrative Lender, Administrative Lender shall, after the expiration of a sixty day period from the date of notice, be relieved of all obligations as Administrative Lender hereunder. Notwithstanding any Administrative Lender's resignation or removal hereunder, the provisions of this Article shall continue to inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Lender under this Agreement.

Successor Administrative Lender. Administrative Lender may resign at any time by giving written notice thereof to Lenders and the Borrower, and may be removed at any time with or without cause by the action of all Lenders (other than Administrative Lender, if it is a Lender). Upon any such resignation or removalresignation, Majority Lenders shall have the right to appoint a successor Administrative Lender with the prior written consent of the Borrower (which shall not be unreasonably withheld), provided that, if there exists an Event of Default that is continuing, no consent of the Borrower shall be requiredLender. If no successor Administrative Lender shall have been so appointed and shall have accepted such appointment within thirty days after the retiring Administrative Lender's giving of notice of resignation, then the retiring Administrative Lender may, on behalf of Lenders, appoint a successor Administrative Lender, which shall be a commercial bank organized under the Laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $50,000,000. Upon the acceptance of any appointment as Administrative Lender hereunder by a successor Administrative Lender, such successor Administrative Lender shall thereupon succeed to and become vested with all the Rights and duties of the retiring Administrative Lender, and the retiring Administrative Lender shall be discharged from its duties and obligations under the Loan Papers, provided that if the retiring or removed Administrative Lender is unable to appoint a successor Administrative Lender, Administrative Lender shall, after the expiration of a sixty day period from the date of notice, be relieved of all obligations as Administrative Lender hereunder. Notwithstanding any Administrative Lender's resignation or removal hereunder, the provisions of this Article shall continue to inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Lender under this Agreement.

Successor Administrative Lender. Administrative Lender may resign at any time by giving written notice thereof to Lenders and the Borrower, and may be removed at any time with or without cause by the action of all Lenders (other than Administrative Lender, if it is a Lender). Upon any such resignation or removalresignation, Majority Lenders shall have the right to appoint a successor Administrative Lender with the prior written consent of the Borrower (which shall not be unreasonably withheld), provided that, if there exists an Event of Default that is continuing, no consent of the Borrower shall be requiredLender. If no successor Administrative Lender shall have been so appointed and shall have accepted such appointment within thirty days after the retiring Administrative Lender's giving of notice of resignation, then the retiring Administrative Lender may, on behalf of Lenders, appoint a successor Administrative Lender, which shall be a commercial bank organized under the Laws laws of the United States of America or of any State state thereof and having a combined capital and surplus of at least $50,000,000. Upon the acceptance of any appointment as Administrative Lender hereunder by a successor Administrative Lender, such successor Administrative Lender shall thereupon succeed to and become vested with all the Rights and duties of the retiring Administrative Lender, and the retiring Administrative Lender shall be discharged from its duties and obligations under the Loan PapersDocuments, provided that if the retiring or removed Administrative Lender is unable to appoint a successor Administrative Lender, Administrative Lender shall, after the expiration of a sixty day period from the date of notice, be relieved of all obligations as Administrative Lender hereunder. Notwithstanding any Administrative Lender's resignation or removal hereunder, the provisions of this Article Section shall continue to inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Lender under this Agreement.

Successor Administrative Lender. Administrative Lender may resign at any time by giving written notice thereof to Lenders and the Borrower, and may be removed at any time with or without cause by the action of all Lenders (other than Administrative Lender, if it is a Lender). Upon any such resignation or removalresignation, Majority Lenders shall have the right to appoint a successor Administrative Lender with the prior written consent of the Borrower (which shall not be unreasonably withheld), provided that, if there exists an Event of Default that is continuing, no consent of the Borrower shall be required. If no successor Administrative Lender shall have been so appointed and shall have accepted such appointment within thirty days after the retiring Administrative Lender's giving of notice of resignation, then the retiring Administrative Lender may, on behalf of Lenders, appoint a successor Administrative Lender, which shall be a commercial bank organized under the Laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $50,000,000. Upon the acceptance of any appointment as Administrative Lender hereunder by a successor Administrative Lender, such successor Administrative Lender shall thereupon succeed to and become vested with all the Rights and duties of the retiring Administrative Lender, and the retiring Administrative Lender shall be discharged from its duties and obligations under the Loan Papers, provided that if the retiring or removed Administrative Lender is unable to appoint a successor Administrative Lender, Administrative Lender shall, after the expiration of a sixty day period from the date of notice, be relieved of all obligations as Administrative Lender hereunder. Notwithstanding any Administrative Lender's resignation or removal hereunder, the provisions of this Article shall continue to inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Lender under this Agreement.

Successor Administrative Lender. The Administrative Lender may resign at any time by giving written notice thereof to the Lenders and the BorrowerCompany, and may be removed at any time with or without cause by the action of all Lenders (other than the Administrative Lender, if it is a Lender), or by the Company upon thirty (30) days prior written notice from the Company to the Administrative Lender if, at any time, the Administrative Lender's Specified Percentage is less than eight percent (8.0%); provided, however, that if a successor Administrative Lender is appointed without the consent of the Majority Lenders pursuant to the third sentence of this Section, such successor Administrative Lender may be removed by the Majority Lenders and Company. Upon any such resignation or removal, the Majority Lenders shall have the right to appoint a successor Administrative Lender Lender, with the prior written consent of the Borrower Company so long as no Event of Default has occurred and is continuing (which shall not be unreasonably withheld), provided that, if there exists an Event of Default that is continuing, no consent of the Borrower shall be required. If no successor Administrative Lender shall have been so appointed and shall have accepted such appointment within thirty 30 days after the retiring Administrative Lender's giving of notice of resignationresignation or the Lenders' removal of the retiring Administrative Lender, then the retiring Administrative Lender may, on behalf of the Lenders, appoint a successor Administrative Lender, which shall be a commercial bank organized under the Applicable Laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $50,000,000. Upon the acceptance of any appointment as the Administrative Lender hereunder by a successor Administrative Lender, such successor Administrative Lender shall thereupon succeed to and become vested with all the Rights and duties of the retiring Administrative Lender, and the retiring Administrative Lender shall be discharged from its duties and obligations under the Loan Papers, provided that if the retiring or removed Administrative Lender is unable to appoint a successor Administrative Lender, Administrative Lender shall, after the expiration of a sixty day period from the date of notice, be relieved of all obligations as Administrative Lender hereunder. Notwithstanding any Administrative Lender's resignation or removal hereunder, the provisions of this Article shall continue to inure to its benefit as to any actions taken or omitted to be taken by it while it was the Administrative Lender under this Agreement.

Successor Administrative Lender. Administrative Lender may resign at any time by giving thirty (30) days' written notice thereof to Lenders and the Borrower, and may be removed at any time with or without cause by the action of all Lenders (other than Administrative Lender, if it is a Lender)Lenders. Upon any such resignation or removal, the Majority Lenders shall have the right to appoint a successor Administrative Lender with the prior written consent of the Borrower (which shall not be unreasonably withheld), provided that, if there exists an Event of Default that is continuing, no consent of the Borrower shall be requiredLender. If no successor Administrative Lender shall have been so appointed by the Majority Lenders and shall have accepted such appointment within thirty (30) days after the retiring Administrative Lender's giving of notice of resignation, then the retiring Administrative Lender may, on behalf of the Lenders, appoint a successor Administrative Lender to serve until such time as Majority Lenders appoint a successor Administrative Lender, which shall be a commercial bank organized under the Laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $50,000,000. Upon the acceptance of any appointment as Administrative Lender hereunder by a successor Administrative Lender, such successor Administrative Lender shall thereupon succeed to and become vested with all the Rights rights, powers, privileges and duties of the retiring Administrative Lender, and the retiring Administrative Lender shall be discharged from its duties and obligations under the Loan Papers, provided that if the retiring or removed Administrative Lender is unable to appoint a successor Administrative Lender, Administrative Lender shall, after the expiration of a sixty day period from the date of notice, be relieved of all obligations as Administrative Lender hereunder. Notwithstanding any Administrative Lender's resignation or removal hereunder, the The provisions of this Article X shall continue to inure to its in effect for the benefit as to of any retired Administrative Lender in respect of any actions taken or omitted to be taken by it while it was acting as Administrative Lender under this AgreementLender.

Successor Administrative Lender. The Administrative Lender may resign at any time by giving written notice thereof to the Lenders and the BorrowerNotification Agent, and may be removed at any time with or without cause by the action of all Lenders (other than the Administrative Lender, if it is a Lender). Upon any my such resignation or removal, the Majority Lenders shall have the right to appoint a successor Administrative Lender from the Lenders at such time, with the prior written consent of the Borrower Notification Agent (which shall not be unreasonably withheld), provided that, if there exists an Event of Default that is continuing, no consent of the Borrower shall be required. If no successor Administrative Lender shall have been so appointed and shall have accepted such appointment within thirty 30 days after the retiring Administrative Lender's giving of notice of resignationresignation or the Lenders' removal of the retiring Administrative Lender, then the retiring Administrative Lender may, on behalf of the Lenders, appoint a successor Administrative Lender, which shall be a commercial bank organized under the Laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $50,000,000. Upon the acceptance of any appointment as Administrative Lender hereunder by Whether or not a successor Administrative Lender, such successor Administrative Lender shall thereupon succeed to and become vested with all have been appointed, after the Rights and duties expiration of the retiring Administrative Lender30 day period, and the retiring Administrative Lender shall be discharged from its duties and obligations under the Loan Papers, provided that if the retiring or removed Administrative Lender is unable to appoint a successor Administrative Lender, Administrative Lender shall, after the expiration of a sixty day period from the date of notice, be relieved of all obligations as Administrative Lender hereunder. Notwithstanding any Administrative Lender's resignation or removal hereunder, the provisions of this Article shall continue to inure to its benefit as to any actions taken or omitted to be taken by it while it was the Administrative Lender under this Agreement.

Successor Administrative Lender. The Administrative Lender may resign at any time by giving written notice thereof to the Lenders and the BorrowerCompany, and may be removed at any time with or without cause by the action of all Lenders (other than the Administrative Lender, if it is a Lender), or by the Company upon thirty (30) days prior written notice from the Company to the -44- 50 Administrative Lender if, at any time, the Administrative Lender's Specified Percentage is less than eight percent (8.0%); provided, however, that if a successor Administrative Lender is appointed without the consent of the Majority Lenders pursuant to the third sentence of this Section, such successor Administrative Lender may be removed by the Majority Lenders and Company. Upon any such resignation or removal, the Majority Lenders shall have the right to appoint a successor Administrative Lender Lender, with the prior written consent of the Borrower Company so long as no Event of Default has occurred and is continuing (which shall not be unreasonably withheld), provided that, if there exists an Event of Default that is continuing, no consent of the Borrower shall be required. If no successor Administrative Lender shall have been so appointed and shall have accepted such appointment within thirty 30 days after the retiring Administrative Lender's giving of notice of resignationresignation or the Lenders' removal of the retiring Administrative Lender, then the retiring Administrative Lender may, on behalf of the Lenders, appoint a successor Administrative Lender, which shall be a commercial bank organized under the Applicable Laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $50,000,000. Upon the acceptance of any appointment as the Administrative Lender hereunder by a successor Administrative Lender, such successor Administrative Lender shall thereupon succeed to and become vested with all the Rights and duties of the retiring Administrative Lender, and the retiring Administrative Lender shall be discharged from its duties and obligations under the Loan Papers, provided that if the retiring or removed Administrative Lender is unable to appoint a successor Administrative Lender, Administrative Lender shall, after the expiration of a sixty day period from the date of notice, be relieved of all obligations as Administrative Lender hereunder. Notwithstanding any Administrative Lender's resignation or removal hereunder, the provisions of this Article shall continue to inure to its benefit as to any actions taken or omitted to be taken by it while it was the Administrative Lender under this Agreement.

Successor Administrative Lender. Administrative Lender may resign at any time by giving written notice thereof to Lenders and the BorrowerCompany, and may be removed at any time with or without cause by the action of all Lenders (other than Administrative Lender, if it is a Lender); provided, however, so long as (a) NationsBank of Texas, N.A. is a Lender and (b) no Default or Event of Default has occurred and is continuing, NationsBank of Texas, N.A. shall not have the right to resign as Administrative Lender. Upon any such resignation or removalresignation, Majority Lenders shall have the right to appoint a successor Administrative Lender right, with the prior written consent of the Borrower Company (which consent shall not be unreasonably withheld), provided that, if there exists an Event of Default that is continuing, no consent of the Borrower shall be requiredto appoint a successor Administrative Lender. If no successor Administrative Lender shall have been so appointed and shall have accepted such appointment within thirty days after the retiring Administrative Lender's giving of notice of resignation, then the retiring Administrative Lender may, on behalf of Lenders, with the consent of Company (which consent shall not be unreasonably withheld), appoint a successor Administrative Lender, which shall be a commercial bank organized under the Laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $50,000,000250,000,000. Upon the acceptance of any appointment as Administrative Lender hereunder by a successor Administrative Lender, such successor Administrative Lender shall thereupon succeed to and become vested with all the Rights and duties of the retiring Administrative Lender, and the retiring Administrative Lender shall be discharged from its duties and obligations under the Loan Papers, provided that (a) if the retiring or removed Administrative Lender is unable to appoint a successor Administrative LenderLender and (b) a Default or Event of Default shall have occurred and be continuing, Administrative Lender shall, after the expiration of a sixty day period from the date of notice, be relieved of all obligations as Administrative Lender hereunder. Notwithstanding any Administrative Lender's resignation or removal hereunder, the provisions of this Article shall continue to inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Lender under this Agreement.