Successor Placement Agent Sample Clauses

Successor Placement Agent. Subject to the appointment and acceptance of a successor Placement Agent as provided below, the Placement Agent may resign at any time by notifying the Holders and EEX, EEX Capital or MIStS Issuer. Upon any such resignation, the Holders shall have the right to appoint a successor. If no successor shall have been so appointed by the Holders and shall have accepted such appointment within 30 days after the retiring Placement Agent files notice of its resignation, then the retiring Placement Agent may, on behalf of the Holders, appoint a successor Placement Agent, which shall be a bank having a combined capital and surplus of at least $500,000,000 or an Affiliate of any such bank. Upon the acceptance of any appointment as Placement Agent hereunder by a successor bank, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Placement Agent, and the retiring Placement Agent shall be discharged from its duties and obligations hereunder. After the Placement Agent's resignation hereunder, the provisions of this Article XI and Article X hereof shall continue in effect for its benefit in respect of any actions taken or omitted to be taken by it while it was acting as Placement Agent.