Common use of Successor Deal Agent, Liquidity Agents or Collateral Agent Clause in Contracts

Successor Deal Agent, Liquidity Agents or Collateral Agent. (a) The Deal Agent may, upon 5 days’ notice to the Borrower and the Secured Parties, and the Deal Agent will, upon the direction of VFCC resign as Deal Agent. If the Deal Agent shall resign, then VFCC during such 5-day period shall appoint a successor agent. If for any reason no successor Deal Agent is appointed by VFCC during such 5-day period, then effective upon the expiration of such 5-day period, the Secured Parties shall perform all of the duties of the Deal Agent hereunder and the Borrower shall make all payments in respect of the Aggregate Unpaids or under any fee letter delivered in connection herewith directly to the applicable Secured Party and for all purposes shall deal directly with each Secured Party. After any retiring Deal Agent’s resignation hereunder as Deal Agent, the provisions of Article XI and Article XII shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Deal Agent under this Agreement. (b) Each Liquidity Agent may, upon 5 days’ notice to the Borrower, the Deal Agent and its related Investors, and a Liquidity Agent will, upon the direction of all of the related Investors (other than such Liquidity Agent, in its individual capacity) resign as Liquidity Agent for such Investors. If a Liquidity Agent shall resign, then the related Investors during such 5-day period shall appoint from among such Investors a successor Liquidity Agent. If for any reason no successor Liquidity Agent is appointed by the related Investors during such 5-day period, then effective upon the expiration of such 5-day period, the related Investors shall perform all of such duties of such Liquidity Agent hereunder and all payments in respect of the Aggregate Unpaids. After any retiring Liquidity Agent’s resignation hereunder as a Liquidity Agent, the provisions of Article XI and Article XII shall inure to its benefit as to any actions taken or omitted to be taken by it while it was a Liquidity Agent under this Agreement. (c) The Collateral Agent may, upon 5 days’ notice to the Borrower and the Secured Parties, and the Collateral Agent will, upon the direction of all of the Secured Parties resign as Collateral Agent. If the Collateral Agent shall resign, then the Secured Parties, during such 5-day period shall appoint a successor agent. If for any reason no successor Collateral Agent is appointed by the Secured Parties during such 5-day period, then effective upon the expiration of such 5-day period, the Secured Parties shall perform all of the duties of the Collateral Agent hereunder and the Borrower shall make all payments in respect of the Aggregate Unpaids or under any fee letter delivered in connection herewith directly to the applicable Secured Party and for all purposes shall deal directly with each Secured Party. After any retiring Collateral Agent’s resignation hereunder as Collateral Agent, the provisions of Article XI and Article XII 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 Deal Agent, Liquidity Agents or Collateral Agent. (a) The Deal Agent may, upon 5 days’ ' notice to the Borrower and the Secured Parties, and the Deal Agent will, upon the direction of VFCC resign as Deal Agent. If the Deal Agent shall resign, then VFCC during such 5-day period shall appoint a successor agent. If for any reason no successor Deal Agent is appointed by VFCC during such 5-day period, then effective upon the expiration of such 5-day period, the Secured Parties shall perform all of the duties of the Deal Agent hereunder and the Borrower shall make all payments in respect of the Aggregate Unpaids or under any fee letter delivered in connection herewith directly to the applicable Secured Party and for all purposes shall deal directly with each Secured Party. After any retiring Deal Agent’s 's resignation hereunder as Deal Agent, the provisions of Article XI and Article XII shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Deal Agent under this Agreement. (b) Each Liquidity Agent may, upon 5 days’ ' notice to the Borrower, the Deal Agent and its related Investors, and a Liquidity Agent will, upon the direction of all of the related Investors (other than such Liquidity Agent, in its individual capacity) resign as Liquidity Agent for such Investors. If a Liquidity Agent shall resign, then the related Investors during such 5-day period shall appoint from among such Investors a successor Liquidity Agent. If for any reason no successor Liquidity Agent is appointed by the related Investors during such 5-day period, then effective upon the expiration of such 5-day period, the related Investors shall perform all of such duties of such Liquidity Agent hereunder and all payments in respect of the Aggregate Unpaids. After any retiring Liquidity Agent’s 's resignation hereunder as a Liquidity Agent, the provisions of Article XI and Article XII shall inure to its benefit as to any actions taken or omitted to be taken by it while it was a Liquidity Agent under this Agreement. (c) The Collateral Agent may, upon 5 days’ ' notice to the Borrower and the Secured Parties, and the Collateral Agent will, upon the direction of all of the Secured Parties resign as Collateral Agent. If the Collateral Agent shall resign, then the Secured Parties, during such 5-day period shall appoint a successor agent. If for any reason no successor Collateral Agent is appointed by the Secured Parties during such 5-day period, then effective upon the expiration of such 5-day period, the Secured Parties shall perform all of the duties of the Collateral Agent hereunder and the Borrower shall make all payments in respect of the Aggregate Unpaids or under any fee letter delivered in connection herewith directly to the applicable Secured Party and for all purposes shall deal directly with each Secured Party. After any retiring Collateral Agent’s 's resignation hereunder as Collateral Agent, the provisions of Article XI and Article XII 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 Deal Agent, Liquidity Agents or Collateral Agent. (a) The Deal Agent may, upon 5 days’ notice to the Borrower and the Secured Parties, and the Deal Agent will, upon the direction of VFCC resign as Deal Agent. If the Deal Agent shall resign, then VFCC RFC during such 5-day period shall may appoint a successor agent. If for any reason no successor Deal Agent is appointed by VFCC RFC during such 5-day period, then effective upon the expiration of such 5-day period, the Secured Parties other than RFC shall perform all of the duties of the Deal Agent hereunder and the Borrower shall make all payments in respect of the Aggregate Unpaids or under any fee letter delivered in connection herewith directly to the applicable Secured Party and for all purposes shall deal directly with each Secured Party. After any retiring Deal Agent’s resignation hereunder as Deal Agent, the provisions of Article XI and Article XII shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Deal Agent under this Agreement. (b) Each Liquidity Agent may, upon 5 days’ notice to the Borrower, the Deal Agent and its related Investors, and a Liquidity Agent will, upon the direction of all of the related Investors (other than such Liquidity Agent, in its individual capacity) resign as Liquidity Agent for such Investors. If a Liquidity Agent shall resign, then the related Investors during such 5-day period shall appoint from among such Investors a successor Liquidity Agent. If for any reason no successor Liquidity Agent is appointed by the related Investors during such 5-day period, then effective upon the expiration of such 5-day period, the related Investors shall perform all of such duties of such Liquidity Agent hereunder and all payments in respect of the Aggregate Unpaids. After any retiring Liquidity Agent’s resignation hereunder as a Liquidity Agent, the provisions of Article XI and Article XII shall inure to its benefit as to any actions taken or omitted to be taken by it while it was a Liquidity Agent under this Agreement. (c) The Collateral Agent may, upon 5 days’ notice to the Borrower and the Secured Parties, and the Collateral Agent will, upon the direction of all of the Secured Parties resign as Collateral Agent. If the Collateral Agent shall resign, then the Secured Parties, during such 5-day period shall appoint a successor agent. If for any reason no successor Collateral Agent is appointed by the Secured Parties during such 5-day period, then effective upon the expiration of such 5-day period, the Secured Parties shall perform all of the duties of the Collateral Agent hereunder and the Borrower shall make all payments in respect of the Aggregate Unpaids or under any fee letter delivered in connection herewith directly to the applicable Secured Party and for all purposes shall deal directly with each Secured Party. After any retiring Collateral Agent’s resignation hereunder as Collateral Agent, the provisions of Article XI and Article XII 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.