Common use of Successor Calculation Agent and Disposal Agent Clause in Contracts

Successor Calculation Agent and Disposal Agent. Notwithstanding any term to the contrary, where (a)(i) the Noteholders holding at least 50 per cent. of the outstanding Principal Amount of the Series, or the Authorised Representative, has notified the Issuer, with a copy to the Trustee, Calculation Agent and Disposal Agent, of the occurrence of an Insolvency Event in respect of the Calculation Agent and/or the Disposal Agent; and (ii) the Calculation Agent and/or the Disposal Agent, acting in good faith, has not certified to the Trustee within 10 Business Days of receipt of such notice that such an Insolvency Event has not occurred; or (b) in relation to the Disposal Agent only, there has been a Disposal Procedures Failure, then:

Successor Calculation Agent and Disposal Agent. Notwithstanding any term to the contrary, where (a)(i) the Noteholders holding at least 50 per cent. of the outstanding Principal Amount principal amount of the SeriesNotes outstanding, or the Authorised Representative, has notified the Issuer, with a copy to the Trustee, Calculation Agent and Disposal Agent, of the occurrence of an Insolvency Event in respect of the Calculation Agent and/or the Disposal Agent; and (ii) the Calculation Agent and/or the Disposal Agent, acting in good faith, has not certified to the Trustee within 10 Business Days of receipt of such notice that such an Insolvency Event has not occurred; or (b) in relation to the Disposal Agent only, there has been a Disposal Procedures Failure, then: