Common use of Successor Collateral Agent Clause in Contracts

Successor Collateral Agent. The Collateral Agent may resign as the Collateral Agent upon thirty (30) days’ notice to the Purchase Money Notes Guarantor and Debtor; provided, however, that the prior written consent of the Purchase Money Notes Guarantor and Debtor will be required prior to the effectiveness of any such resignation. If Collateral Agent resigns under this Agreement, the Controlling Party, with the written consent of Debtor, shall appoint a successor collateral agent for the Secured Parties. If no successor collateral agent is appointed prior to the effective date of the resignation of the Collateral Agent, the retiring Collateral Agent may appoint, after consulting with the Purchase Money Notes Guarantor and Debtor, a successor collateral agent.

Successor Collateral Agent. The Collateral Agent may resign as the Collateral Agent upon thirty (30) days’ notice to the Purchase Money Notes Guarantor and Debtor; provided, however, that the prior written consent of the Purchase Money Notes Guarantor and Debtor will be required prior to the effectiveness of any such resignation. If Collateral Agent resigns under this Agreement, the Controlling Party, with the written consent of DebtorXxxxxx, shall appoint a successor collateral agent for the Secured Parties. If no successor collateral agent is appointed prior to the effective date of the resignation of the Collateral Agent, the retiring Collateral Agent may appoint, after consulting with the Purchase Money Notes Guarantor and DebtorXxxxxx, a successor collateral agent.

Successor Collateral Agent. The Collateral Agent may resign as the Collateral Agent upon thirty (30) days’ notice to the Purchase Money Notes Note Guarantor and the Debtor; provided, however, that the prior written consent of the Purchase Money Notes Note Guarantor and the Debtor will be required prior to the effectiveness of any such resignation. If the Collateral Agent resigns under this Agreement, the Controlling Party, with the written consent of the Debtor, shall appoint a successor collateral agent for the Secured Parties. If no successor collateral agent is appointed prior to the effective date of the resignation of the Collateral Agent, the retiring Collateral Agent may appoint, after consulting with the Purchase Money Notes Note Guarantor and the Debtor, a successor collateral agent.