Successor Facility Agent. If the Facility Agent shall resign as Facility Agent under this Agreement, then the Required Lenders shall appoint a successor agent, with the consent of the Borrower so long as no Event of Default has occurred and is continuing, whereupon such successor agent shall succeed to the rights, powers and duties of the Facility Agent, and the term “Facility Agent” shall mean such successor agent, effective upon its acceptance of such appointment, and the former Facility Agent’s rights, powers and duties as Facility Agent shall be terminated, without any other or further act or deed on the part of such former Facility Agent or any of the parties to this Agreement. In addition, prior to any assignment or participation by Synovus or any of its Affiliates of any interest in its Commitment which, in either case, after giving effect to such assignment or participation would result in Synovus and its Affiliates holding (unparticipated) less than 25% of the Facility Amount in aggregate Commitments, Synovus shall provide notice of such event to the Borrower, the Servicer and the Lenders (with the consent of the Required Lenders and, unless an Event of Default has occurred and is continuing, the Servicer) shall be permitted to appoint a new Facility Agent. After the Facility Agent’s resignation hereunder, the provisions of this Article XIV shall inure to its benefit as to any actions taken or omitted to be taken by it while it was the Facility Agent under this Agreement. No resignation of the Facility Agent shall become effective until a successor Facility Agent shall have assumed the responsibilities and obligations of the Facility Agent hereunder; provided, that in the event a successor Facility Agent is not appointed within 60 days after such notice of its resignation is given as permitted by this Section 14.8, the Borrower or the Servicer may petition a court for its removal.
Successor Facility Agent. If the Facility Agent gives notice of its resignation pursuant to Clause 24.9 (Resignation), then any reputable and experienced bank or other financial institution may be appointed as a successor to the Facility Agent by an Instructing Group during the period of such notice but, if no such successor is so appointed, the Facility Agent may appoint such a successor itself.
Successor Facility Agent. The Majority Financiers will have the right, in consultation with the Borrower, to appoint a successor Facility Agent on the resignation or removal of the Facility Agent in accordance with clause 21.22(a). If on or before the date on which any resignation or removal of the Facility Agent will take effect, no successor Facility Agent has been appointed, the retiring Facility Agent may, in consultation with the Borrower, appoint a successor Facility Agent which must be a reputable and experienced financier having an office in Australia.
Successor Facility Agent. Upon the acceptance of any appointment as Facility Agent under the Transaction Documents by a successor Facility Agent, such successor Facility Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Facility Agent and, upon the earlier of such acceptance or the effective date of the retiring Facility Agent’s resignation, the retiring Facility Agent shall be discharged from its duties and obligations under the Transaction Documents; provided, that any indemnity and expense rights or other rights in favor of such retiring Facility Agent shall continue after and survive such resignation and succession. After any retiring Facility Agent’s resignation as Facility Agent under the Transaction Documents, the provisions of this Section 13.14 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Facility Agent under the Transaction Documents.
Successor Facility Agent. Any successor Facility Agent appointed pursuant to Clause 9.3 shall execute, acknowledge and deliver to the Issuer and to its predecessor an instrument accepting such appointment, and subject only to the fulfillment of all other conditions provided in Clause 9.3, the resignation or removal of the Facility Agent shall thereupon become effective and such Successor Facility Agent, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts, duties and obligations of its predecessor in the trust hereunder with like effect as if originally named as Facility Agent herein; Provided, that on the written request of the Issuer or of the successor Facility Agent, the Facility Agent shall execute and deliver an instrument transferring to such successor Facility Agent, upon the trust herein expressed, all the rights, powers and duties of the Facility Agent herein. Further, upon request of any such successor Facility Agent, the Issuer shall execute any and all instruments in writing as may be necessary to fully vest in and confer to such successor trustee all such rights, powers and duties. For its part, a successor Facility Agent shall only accept its appointment as provided in this Clause if, at the time of its acceptance, such successor Facility Agent shall be qualified and eligible under the PDEx Rules and as set out in Clause 5.2.2 and has none of the conflict of interest under Clause 8.
Successor Facility Agent. The Facility Agent may resign at any time by giving notice thereof to the Banks and the Borrower. Upon any such resignation, the Required Banks shall have the right to appoint a successor Facility Agent, subject to the approval of the Borrower (which approval will not be unreasonably withheld provided that the successor meets the requirements specified in the next sentence). If no successor Facility Agent shall have been so appointed by the Required Banks, and shall have accepted such appointment, within 30 days after the retiring Facility Agent gives notice of resignation, then the retiring Facility Agent may, on behalf of the Banks, appoint a successor Facility Agent, which shall be a commercial bank organized or licensed under the laws of the United States of America or of any State thereof and having a combined capital and surplus of at least U.S.$500,000,000. Upon the acceptance of its appointment as Facility Agent hereunder by a successor Facility Agent, such successor Facility Agent shall thereupon succeed to and become vested with all the rights and duties of the retiring Facility Agent, and the retiring Facility Agent shall be discharged from its duties and obligations under the Credit Documents. After any retiring Facility Agent’s resignation hereunder as Facility Agent, the provisions of this Article shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Facility Agent.
Successor Facility Agent. 67 ARTICLE X MISCELLANEOUS................................................................... 68 Section 10.01.
Successor Facility Agent. If a successor to the Facility Agent is appointed under the provisions of clause 17.9 (Resignation), then (i) the retiring Facility Agent shall be discharged from any further obligation under this Agreement but shall remain entitled to the benefit of the provisions of this clause 17 and, (ii) its successor and each of the other parties hereto shall have the same rights and obligations amongst themselves as they would have had if such successor had been a party hereto.
Successor Facility Agent. If the Facility Agent gives notice of its resignation pursuant to Clause 34.9 (Resignation) or the Facility Agent is removed pursuant to Clause 34.10 (Removal of Facility Agent) then any reputable and experienced bank or other financial institution may be appointed as a successor Facility Agent provided that, (i) in the case of Clause 34.9 (Resignation) such successor is a Bank selected by the resigning Facility Agent or, if not a Bank, is a financial institution selected with the prior consent of the Obligors' Agent; and (ii) in the case of Clause 34.10 (Removal of Facility Agent) such successor is appointed with the prior written consent of the Obligors' Agent (such consent not to be unreasonably withheld).
Successor Facility Agent. If the Facility Agent gives notice of its resignation pursuant to Clause 8 (RESIGNATION) of this Schedule 10, or it is removed pursuant to Clause 9 (REMOVAL OF FACILITY AGENT) of this Schedule 10, then any reputable and experienced bank or other financial institution may be appointed as a successor to the Facility Agent by an Instructing Group (who shall consult with the Parent) during the period of such notice but, if no such successor is so appointed, the Facility Agent may appoint such a successor itself.
