Successor Deal Agent or Liquidity Agent. (a) The Deal Agent may, upon 5 days' notice to the Seller and the Secured Parties, and the Deal Agent will, upon the direction of all of the Secured Parties (other than the Deal Agent, in its individual capacity) resign as Deal Agent. If the Deal Agent shall resign, then the Required Investors during such 5-day period shall appoint from among the Secured Parties a successor agent. If for any reason no successor Deal Agent is appointed by the Required Investors 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 Seller shall make all payments in respect of the Aggregate Unpaids or under any fee letter delivered by the Originator to the Deal Agent and the Secured Parties directly to the applicable Purchaser and for all purposes shall deal directly with the Secured Parties. After any retiring Deal Agent's resignation hereunder as Deal Agent, the provisions of Article VIII and Article IX 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.
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Samples: Loan Purchase and Servicing Agreement (First International Bancorp Inc), Purchase and Servicing Agreement (First International Bancorp Inc), Loan Purchase and Servicing Agreement (First International Bancorp Inc)
Successor Deal Agent or Liquidity Agent. (a) The Deal Agent may, upon 5 days' notice to the Seller Borrower and the Secured PartiesLenders, and the Deal Agent will, upon the direction of all of the Secured Parties Lenders (other than the Deal Agent, in its individual capacity) resign as Deal Agent. If the Deal Agent shall resign, then the Required Investors during such 5-day period shall appoint from among the Secured Parties Lenders a successor agent. If for any reason no successor Deal Agent is appointed by the Required Investors during such 5-day period, then effective upon the expiration of such 5-day period, the Secured Parties Lenders shall perform all of the duties of the Deal Agent hereunder and the Seller Borrower shall make all payments in respect of the Aggregate Unpaids Obligations or under any fee letter delivered by the Originator to the Deal Agent and the Secured Parties directly to the applicable Purchaser Secured Parties and for all purposes shall deal directly with the Secured Parties. After any retiring Deal Agent's resignation hereunder as Deal Agent, the provisions of Article VIII and Article IX 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.
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Samples: Loan Funding and Servicing Agreement (Healthcare Financial Partners Inc)
Successor Deal Agent or Liquidity Agent. (a) The Deal Agent may, upon 5 days' notice to the Seller and the Secured Parties, and the Deal Agent will, upon the direction of all of the Secured Parties (other than the Deal Agent, in its individual capacity) resign as Deal Agent. If the Deal Agent shall resign, then the Required Investors during such 5-day period shall appoint from among the Secured Parties a successor agent. If for any reason no successor Deal Agent is appointed by the Required Investors 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 Seller shall make all payments in respect of the Aggregate Unpaids or under any fee letter delivered by the Originator to the Deal Agent and the Secured Parties directly to the applicable Purchaser and for all purposes shall deal directly with the Secured Parties. After any retiring Deal Agent's resignation hereunder as Deal Agent, the provisions of Article VIII and Article IX 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.to
Appears in 1 contract
Samples: Purchase and Servicing Agreement (First International Bancorp Inc)
Successor Deal Agent or Liquidity Agent. (a) The Deal Agent may, upon 5 days' notice to the Seller Borrower and the Secured Parties, and the Deal Agent will, upon the direction of all of the Secured Parties (other than the Deal Agent, in its individual capacity) resign as Deal Agent. If the Deal Agent shall resign, then the Required Investors during such 5-day period shall appoint from among the Secured Parties a successor agent. If for any reason no successor Deal Agent is appointed by the Required Investors 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 Seller Borrower shall make all payments in respect of the Aggregate Unpaids or under any fee letter delivered by the Originator to the Deal Agent and the Secured Parties directly to the applicable Purchaser Secured Party and for all purposes shall deal directly with the Secured PartiesParty. After any retiring Deal Agent's resignation hereunder as Deal Agent, the provisions of this Article VIII and Article IX 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.
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