Successor Collateral Agents. The Collateral Agent may resign at any time by giving written notice thereof to the Lenders and the Borrower and may be removed at any time with cause by the Required Lenders. Upon any such resignation or removal, the Required Lenders shall have the right to appoint a successor Collateral Agent. If no successor Collateral Agent shall have been so appointed by the Required Lenders, and shall have accepted such appointment, within 30 days after the retiring Collateral Agent's giving of notice of resignation or the Required Lenders' removal of the retiring Collateral Agent, then the retiring Collateral Agent may, on behalf of the Lender Parties, appoint a successor Collateral Agent, which shall be a commercial bank organized under the laws of the United States 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 Collateral Agent hereunder by a successor Collateral Agent and upon the execution and filing or recording of such financing statements, or amendments thereto, and such other instruments or notices, as may be necessary or desirable, or as the Required Lenders may request, in order to continue the perfection of the liens granted or purported to be granted by the Security Documents, such successor Collateral Agent shall succeed to and become vested with all the rights, powers, discretion, privileges and duties of the retiring Collateral Agent, and the retiring Collateral Agent shall be discharged from its duties and obligations under the Loan Documents. After any retiring Collateral Agent's resignation or removal hereunder as Collateral Agent, the provisions of this Article IX shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Collateral Agent under this Agreement.
Successor Collateral Agents. 47 9.7 Monthly Verification Duties of Collateral Agent..............................................47
Successor Collateral Agents. Each Collateral Agent may resign as Collateral Agent upon 10 days’ notice to the Lenders and the Grantors. If either Collateral Agent shall resign as a Collateral Agent under this Agreement and the other Loan Documents, then the
Successor Collateral Agents. Upon the acceptance by any Person of its appointment as a successor Collateral Agent, such Person shall thereupon succeed to and become vested with all the rights, powers, privileges, duties and obligations of the Collateral Agent under the Guarantor Related Documents and the retiring Collateral Agent, upon payment of the retiring Collateral Agent’s fees and expenses, shall be discharged from its duties and obligations as Collateral Agent thereunder.
Successor Collateral Agents. The Bank of New York may resign as Collateral Agent upon 30 days’ notice to each other Secured Party party hereto and the Borrower. In addition, in accordance with a direction of the Required First Lien Secured Parties, The Bank of New York (or any successor thereto) may be removed as Collateral Agent. If The Bank of New York (or any successor thereto) should resign or be removed as Collateral Agent, the Required First Lien Secured Parties shall appoint a successor agent (in consultation with the
Successor Collateral Agents. UCC Filings and Title Certificates 135 ---------------------------------- ARTICLE XIV MISCELLANEOUS . . .
Successor Collateral Agents. 45 9.7 Monthly Duties of Collateral Agent.............................................................46 ARTICLE X. MISCELLANEOUS.........................................................................................46
Successor Collateral Agents. The Collateral Agent, or any successor to it hereafter appointed, may at any time resign by giving notice in writing to the parties hereto and shall be discharged from its duties upon the appointment of a successor Collateral Agent as hereinafter provided, or upon the expiration of sixty (60) days after such notice is given. In the event of any such resignation, a successor Collateral Agent, which shall be a bank or trust company established under the laws of the United States of America or any state thereof having combined capital, surplus and undivided profits of not less than $100,000,000 and having trust powers shall be appointed by the Banks with the written consent of Holdings. Any successor Collateral Agent shall deliver to the other parties hereto and the Collateral Agent a written instrument accepting the appointment hereunder, and thereupon it shall succeed to all the rights and duties of the Collateral Agent hereunder and shall be entitled to receive the Shares and Transfer then held by the predecessor Collateral Agent hereunder. In the event that the parties hereto do not appoint a successor Collateral Agent within sixty (60) days, Collateral Agent shall deposit the Shares and Transfer into a court of competent jurisdiction and, from and after the date such deposit is made, the Collateral Agent shall be released and discharged of all obligations with respect thereto.
Successor Collateral Agents. The Collateral Agent may resign at any time by giving written notice thereof to the Noteholders and the Company and may be removed at any time with or without cause by the Noteholders holding at least 51% of the principal amount of the Promissory Notes then outstanding. Upon any such resignation or removal, the Noteholders holding at least 51% of the principal amount of the Promissory Notes then outstanding shall have the right to appoint a successor Collateral Agent. If no successor Collateral Agent shall have been so appointed by the Noteholders, and shall have accepted such appointment, within 30 days after the retiring Collateral Agent's giving of notice of resignation or the Noteholders' removal of the retiring Collateral Agent, then the retiring Collateral Agent may, on behalf of the Noteholders, appoint a successor Collateral Agent. Upon the acceptance of any appointment as Collateral Agent hereunder by a successor Collateral Agent and upon the execution and filing or recording of such financing statements, or amendments thereto, and such other instruments or notices, as may be necessary or desirable, or as the Noteholders may request, in order to continue the perfection of the security interests granted or purported to be granted hereunder, such successor Collateral Agent shall succeed to and become vested with all the rights, powers,
