Common use of Successor Agent and Successor Issuing Bank Clause in Contracts

Successor Agent and Successor Issuing Bank. Either the Agent or the Issuing Bank, respectively, may resign as Agent or Issuing Bank upon 30 days’ notice to the Banks. If the Agent or Issuing Bank resigns under this Agreement, the Majority Banks shall appoint from among the Banks a successor agent for the Banks or successor issuing bank, respectively. The appointment of a successor issuing bank shall be subject to the consent of the Companies which shall not be unreasonably withheld. If no successor agent or successor issuing bank is appointed prior to the effective date of the resignation of the Agent or the Issuing Bank respectively, the Agent or the Issuing Bank may appoint, after consulting with the Banks and the Companies, a successor agent or successor issuing bank from among the Banks. Upon the acceptance of its appointment as successor agent or successor issuing bank hereunder, such successor agent or successor issuing bank, respectively, shall succeed to all the rights, powers and duties of the retiring Agent or the retiring Issuing Bank and the term “Agent” or “Issuing Bank” shall mean such successor agent or successor issuing bank and the retiring Agent’s or the retiring Issuing Bank’s appointment, powers and duties as Agent or Issuing Bank shall be terminated. After any retiring Agent’s or retiring Issuing Bank’s resignation hereunder as Agent or Issuing Bank, the provisions of this Article X and Sections 11.4 and 11.5 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Agent or Issuing Bank under this Agreement. If no successor agent or successor issuing bank has accepted appointment as Agent or Issuing Bank by the date which is 30 days following a retiring Agent’s or retiring Issuing Bank’s notice of resignation, the retiring Agent’s or retiring Issuing Bank’s resignation shall nevertheless thereupon become effective and the Banks shall perform all of the duties of the Agent or Issuing Bank hereunder until such time, if any, as the Majority Banks appoint a successor agent or successor issuing bank as provided for above.

Successor Agent and Successor Issuing Bank. Either the Agent or the Issuing Bank, respectively, may resign as Agent or Issuing Bank upon 30 days’ ' notice to the Banks. If the Agent or Issuing Bank resigns under this Agreement, the Majority Required Banks shall appoint from among the Banks a successor agent for the Banks or successor issuing bank, respectively. The appointment of a successor issuing bank shall be subject to the consent of the Companies which shall not be unreasonably withheld. If no successor agent or successor issuing bank is appointed prior to the effective date of the resignation of the Agent or the Issuing Bank respectively, the Agent or the Issuing Bank may appoint, after consulting with the Banks and the Companies, a successor agent or successor issuing bank from among the Banks, subject to such Bank's acceptance of such appointment. Upon the acceptance of its appointment as successor agent or successor issuing bank hereunder, such successor agent or successor issuing bank, respectively, shall succeed to all the rights, powers and duties of the retiring Agent or the retiring Issuing Bank and the term “"Agent” " or “"Issuing Bank” " shall mean such successor agent or successor issuing bank and the retiring Agent’s 's or the retiring Issuing Bank’s 's appointment, powers and duties as Agent or Issuing Bank shall be terminated. After any retiring Agent’s 's or retiring Issuing Bank’s 's resignation hereunder as Agent or Issuing Bank, the provisions of this Article X ARTICLE XI and Sections 11.4 and 11.5 SECTIONS 12.4 AND 12.5 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Agent or Issuing Bank under this Agreement. If no successor agent or successor issuing bank has accepted appointment as Agent or Issuing Bank by the date which is 30 days following a retiring Agent’s 's or retiring Issuing Bank’s 's notice of resignation, the retiring Agent’s 's or retiring Issuing Bank’s 's resignation shall nevertheless thereupon become effective and the Banks shall perform all of the duties of the Agent or Issuing Bank hereunder until such time, if any, as the Majority Required Banks appoint a successor agent or successor issuing bank as provided for above.

Successor Agent and Successor Issuing Bank. Either the Agent or the Issuing Bank, respectively, may resign as Agent or Issuing Bank upon 30 days’ ' notice to the Banks. If the Agent or Issuing Bank resigns under this Agreement, the Majority Banks shall appoint from among the Banks a successor agent for the Banks or successor issuing bank, respectively. The appointment of a successor issuing bank shall be subject to the consent of the Companies which shall not be unreasonably withheld. If no successor agent or successor issuing bank is appointed prior to the effective date of the resignation of the Agent or the Issuing Bank respectively, the Agent or the Issuing Bank may appoint, after consulting with the Banks and the Companies, a successor agent or successor issuing bank from among the Banks. Upon the acceptance of its appointment as successor agent or successor issuing bank hereunder, such successor agent or successor issuing bank, respectively, shall succeed to all the rights, powers and duties of the retiring Agent or the retiring Issuing Bank and the term “"Agent” " or “"Issuing Bank” " shall mean such successor agent or successor issuing bank and the retiring Agent’s 's or the retiring Issuing Bank’s 's appointment, powers and duties as Agent or Issuing Bank shall be terminated. After any retiring Agent’s 's or retiring Issuing Bank’s 's resignation hereunder as Agent or Issuing Bank, the provisions of this Article X and Sections 11.4 and 11.5 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Agent or Issuing Bank under this Agreement. If no successor agent or successor issuing bank has accepted appointment as Agent or Issuing Bank by the date which is 30 days following a retiring Agent’s 's or retiring Issuing Bank’s 's notice of resignation, the retiring Agent’s 's or retiring Issuing Bank’s 's resignation shall nevertheless thereupon become effective and the Banks shall perform all of the duties of the Agent or Issuing Bank hereunder until such time, if any, as the Majority Banks appoint a successor agent or successor issuing bank as provided for above.

Successor Agent and Successor Issuing Bank. Either the Agent or the ------------------------------------------ Issuing Bank, respectively, may resign as Agent or Issuing Bank upon 30 days’ ' notice to the Banks. If the Agent or Issuing Bank resigns under this Agreement, the Majority Banks shall appoint from among the Banks a successor agent for the Banks or successor issuing bank, respectively. The appointment of a successor issuing bank shall be subject to the consent of the Companies which shall not be unreasonably withheld. If no successor agent or successor issuing bank is appointed prior to the effective date of the resignation of the Agent or the Issuing Bank respectively, the Agent or the Issuing Bank may appoint, after consulting with the Banks and the Companies, a successor agent or successor issuing bank from among the Banks. Upon the acceptance of its appointment as successor agent or successor issuing bank hereunder, such successor agent or successor issuing bank, respectively, shall succeed to all the rights, powers and duties of the retiring Agent or the retiring Issuing Bank and the term “"Agent” " or “"Issuing Bank” " shall mean such successor agent or successor issuing bank and the retiring Agent’s 's or the retiring Issuing Bank’s 's appointment, powers and duties as Agent or Issuing Bank shall be terminated. After any retiring Agent’s 's or retiring Issuing Bank’s 's resignation hereunder as Agent or Issuing Bank, the provisions of this Article X and Sections 11.4 and 11.5 shall inure to --------- ---------------------- its benefit as to any actions taken or omitted to be taken by it while it was Agent or Issuing Bank under this Agreement. If no successor agent or successor issuing bank has accepted appointment as Agent or Issuing Bank by the date which is 30 days following a retiring Agent’s 's or retiring Issuing Bank’s 's notice of resignation, the retiring Agent’s 's or retiring Issuing Bank’s 's resignation shall nevertheless thereupon become effective and the Banks shall perform all of the duties of the Agent or Issuing Bank hereunder until such time, if any, as the Majority Banks appoint a successor agent or successor issuing bank as provided for above.