Common use of Successor Deal Agent Clause in Contracts

Successor Deal Agent. The Deal Agent may, upon five days’ notice to the Borrower and each Lender, and the Deal Agent will, upon the direction of all Lenders, resign as Deal Agent. If the Deal Agent shall resign, then the Lenders, during such five day period, shall appoint a successor agent. If for any reason no successor Deal Agent is appointed by the Lenders during such five day period, then effective upon the expiration of such five day period, the Borrower or the Deal Agent, as applicable, shall make all payments it otherwise would have made to the Deal Agent in respect of the Obligations or under any fee letter delivered in connection herewith directly to the Lenders and for all purposes shall deal directly with the Lenders. After any retiring Deal Agent’s resignation hereunder as Deal Agent, the provisions of Article X and this Article XI shall inure to its benefit as to any actions taken or omitted to be taken by it while it was the Deal Agent under this Agreement. Notwithstanding the resignation or removal of WCM as the Deal Agent, Wachovia, as the Swingline Lender and as a Hedge Counterparty and as an Institutional Lender, shall continue to be a Secured Party hereunder.

Successor Deal Agent. The Deal Agent may, upon five days’ notice to the Borrower and each Lender, and the Deal Agent will, upon the direction of all Lenders, resign as Deal Agent. If the Deal Agent shall resign, then the Lenders, during such five day period, shall appoint a successor agent. If for any reason no successor Deal Agent is appointed by the Lenders during such five day period, then effective upon the expiration of such five day period, the Borrower or the Deal Agent, as applicable, shall make all payments it otherwise would have made to the Deal Agent in respect of the Obligations or under any fee letter delivered in connection herewith directly to the Lenders and for all purposes shall deal directly with the Lenders. After any retiring Deal Agent’s resignation hereunder as Deal Agent, the provisions of Article X and this Article XI shall inure to its benefit as to any actions taken or omitted to be taken by it while it was the Deal Agent under this Agreement. Notwithstanding the resignation or removal of WCM as the Deal Agent, Wachovia, as the Swingline Lender and as a Hedge Counterparty and as an Institutional LenderCounterparty, shall continue to be a Secured Party hereunder.

Successor Deal Agent. The Deal Agent may, upon five (5) days’ notice to the Borrower and each LenderVFCC, and the Deal Agent will, upon the direction of all LendersVFCC, resign as Deal Agent. If the Deal Agent shall resign, then the LendersVFCC, during such five (5) day period, shall appoint a successor agent. If for any reason no successor Deal Agent is appointed by the Lenders VFCC during such five (5) day period, then effective upon the expiration of such five (5) day period, the Borrower or the Deal Agent, as applicable, shall make all payments it otherwise would have made to the Deal Agent in respect of the Obligations 104 or under any fee letter delivered in connection herewith directly to the Lenders VFCC and for all purposes shall deal directly with the LendersVFCC. After any retiring Deal Agent’s resignation hereunder as Deal Agent, the provisions of Article X and this Article XI shall inure to its benefit as to any actions taken or omitted to be taken by it while it was the Deal Agent under this Agreement. Notwithstanding the resignation or removal of WCM WS as the Deal Agent, Wachovia, as the Swingline Lender and as a Hedge Counterparty and as an Institutional LenderCounterparty, shall continue to be a Secured Party hereunder.