Common use of Successor Program Agent Clause in Contracts

Successor Program Agent. The Program Agent may, upon thirty (30) days' notice to the Borrower, the Conduit Lenders and the Secondary Lenders, resign as Program Agent. If the Program Agent shall resign, then the Majority Banks during such thirty (30) day period shall appoint from among the Secondary Lenders a successor program agent. If for any reason a successor program agent is not so appointed and does not accept such appointment during such thirty (30) day period, the Program Agent may appoint a successor program agent. Any resignation of the Program Agent shall be effective upon the appointment of a successor program agent pursuant to this Section 8.05 and the acceptance of such appointment by such successor. After the effectiveness of any retiring Program Agent's resignation hereunder as Program Agent, the retiring Program Agent shall be discharged from its duties and obligations hereunder and under the other Program Documents and the provisions of this Article VIII and Section 9.04 shall continue in effect for its benefit with respect to any actions taken or omitted to be taken by it while it was Program Agent under this Agreement and under the other Program Documents.

Successor Program Agent. The Program Agent may, upon at least thirty (30) days' ’ notice to the Borrower, the Conduit Lenders Seller and the Secondary Lenderseach Investor Agent, resign as Program Agent. If Such resignation shall not become effective until a successor agent is appointed by the Investor Agents (with the approval of the Seller, which approval shall not be unreasonably withheld and shall not be required if an Incipient Event of Termination or an Event of Termination has occurred and is continuing) and has accepted such appointment. Upon such acceptance of its appointment as Program Agent hereunder by a successor Program Agent, such successor Program Agent shall resign, then succeed to and become vested with all the Majority Banks during such thirty (30) day period shall appoint from among the Secondary Lenders a successor program agent. If for any reason a successor program agent is not so appointed rights and does not accept such appointment during such thirty (30) day period, the Program Agent may appoint a successor program agent. Any resignation duties of the Program Agent shall be effective upon the appointment of a successor program agent pursuant to this Section 8.05 and the acceptance of such appointment by such successor. After the effectiveness of any retiring Program Agent's resignation hereunder as Program Agent, and the retiring Program Agent shall be discharged from its duties and obligations hereunder and under the other Transaction Documents. After any retiring Program Documents and Agent’s resignation hereunder, the provisions of this Article VIII and Section 9.04 6.07 and Article X shall continue in effect for inure to its benefit with respect as to any actions taken or omitted to be taken by it while it was the Program Agent under this Agreement and under the other Program DocumentsAgent.

Successor Program Agent. The Program Agent may, upon at least thirty (30) days' notice to the Borrower, the Conduit Lenders Seller and the Secondary Lenderseach Investor Agent, resign as Program Agent. If Such resignation shall not become effective until a successor agent is appointed by the Investor Agents (with the approval of the Seller, which approval shall not be unreasonably withheld and shall not be required if an Incipient Event of Termination or an Event of Termination has occurred and is continuing) and has accepted such appointment. Upon such acceptance of its appointment as Program Agent hereunder by a successor Program Agent, such successor Program Agent shall resign, then succeed to and become vested with all the Majority Banks during such thirty (30) day period shall appoint from among the Secondary Lenders a successor program agent. If for any reason a successor program agent is not so appointed rights and does not accept such appointment during such thirty (30) day period, the Program Agent may appoint a successor program agent. Any resignation duties of the Program Agent shall be effective upon the appointment of a successor program agent pursuant to this Section 8.05 and the acceptance of such appointment by such successor. After the effectiveness of any retiring Program Agent's resignation hereunder as Program Agent, and the retiring Program Agent shall be discharged from its duties and obligations hereunder and under the other Transaction Documents. After any retiring Program Documents and Agent's resignation hereunder, the provisions of this Article VIII and Section 9.04 6.07 and Article X shall continue in effect for inure to its benefit with respect as to any actions taken or omitted to be taken by it while it was the Program Agent under this Agreement and under the other Program DocumentsAgent.

Successor Program Agent. The Program Agent may, upon at least thirty (30) days' ’ notice to the Borrower, the Conduit Lenders Seller and the Secondary Lenderseach Group Agent, resign as Program Agent. If Such resignation shall not become effective until a successor agent is appointed by the Group Agents (with the approval of the Seller, which approval shall not be unreasonably withheld and shall not be required if an Incipient Event of Termination or an Event of Termination has occurred and is continuing) and has accepted such appointment. Upon such acceptance of its appointment as Program Agent hereunder by a successor Program Agent, such successor Program Agent shall resign, then succeed to and become vested with all the Majority Banks during such thirty (30) day period shall appoint from among the Secondary Lenders a successor program agent. If for any reason a successor program agent is not so appointed rights and does not accept such appointment during such thirty (30) day period, the Program Agent may appoint a successor program agent. Any resignation duties of the Program Agent shall be effective upon the appointment of a successor program agent pursuant to this Section 8.05 and the acceptance of such appointment by such successor. After the effectiveness of any retiring Program Agent's resignation hereunder as Program Agent, and the retiring Program Agent shall be discharged from its duties and obligations hereunder and under the other Transaction Documents. After any retiring Program Documents and Agent’s resignation hereunder, the provisions of this Article VIII VIII, Section 6.07 and Section 9.04 Article X shall continue in effect for inure to its benefit with respect as to any actions taken or omitted to be taken by it while it was the Program Agent under this Agreement and under the other Program DocumentsAgent.

Successor Program Agent. The Program Agent may, upon at least thirty (30) days' notice to the Borrower, the Conduit Lenders Borrower and the Secondary Lenderseach Investor Agent, resign as Program Agent. If Such resignation shall not become effective until a successor agent is appointed by the Investor Agents (with the approval of the Borrower, which approval shall not be unreasonably withheld and shall not be required if an Incipient Event of Termination or an Event of Termination has occurred and is continuing) and has accepted such appointment. Upon such acceptance of its appointment as Program Agent hereunder by a successor Program Agent, such successor Program Agent shall resign, then succeed to and become vested with all the Majority Banks during such thirty (30) day period shall appoint from among the Secondary Lenders a successor program agent. If for any reason a successor program agent is not so appointed rights and does not accept such appointment during such thirty (30) day period, the Program Agent may appoint a successor program agent. Any resignation duties of the Program Agent shall be effective upon the appointment of a successor program agent pursuant to this Section 8.05 and the acceptance of such appointment by such successor. After the effectiveness of any retiring Program Agent's resignation hereunder as Program Agent, and the retiring Program Agent shall be discharged from its duties and obligations hereunder and under the other Transaction Documents. After any retiring Program Documents and Agent's resignation hereunder, the provisions of this Article VIII VIII, Section 6.07 and Section 9.04 Article X shall continue in effect for inure to its benefit with respect as to any actions taken or omitted to be taken by it while it was the Program Agent under this Agreement and under the other Program DocumentsAgent.

Successor Program Agent. The Program Agent may, upon thirty (30) days' notice to the Borrower, the Conduit Lenders and the Secondary Lenders, resign as Program Agent. If the Program Agent shall resign, then the Majority Banks Lenders during such thirty (30) day period shall appoint from among the Secondary Lenders a successor program agent. If for any reason a successor program agent is not so appointed and does not accept such appointment during such thirty (30) day period, the Program Agent may appoint a successor program agent. Any resignation of the Program Agent shall be effective upon the appointment of a successor program agent pursuant to this Section 8.05 and the acceptance of such appointment by such successor. After the effectiveness of any retiring Program Agent's resignation hereunder as Program Agent, the retiring Program Agent shall be discharged from its duties and obligations hereunder and under the other Program Documents and the provisions of this Article VIII and Section 9.04 shall continue in effect for its benefit with respect to any actions taken or omitted to be taken by it while it was Program Agent under this Agreement and under the other Program Documents.

Successor Program Agent. The Program Agent may, upon at least thirty (30) days' ’ notice to the Borrower, the Conduit Lenders Transferor and the Secondary Lenderseach Investor Agent, resign as Program Agent. If Such resignation shall not become effective until a successor agent is appointed by the Investor Agents (with the approval of the Transferor, which approval shall not be unreasonably withheld and shall not be required if an Event of Termination has occurred and is continuing) and has accepted such appointment. Upon such acceptance of its appointment as Program Agent hereunder by a successor Program Agent, such successor Program Agent shall resign, then succeed to and become vested with all the Majority Banks during such thirty (30) day period shall appoint from among the Secondary Lenders a successor program agent. If for any reason a successor program agent is not so appointed rights and does not accept such appointment during such thirty (30) day period, the Program Agent may appoint a successor program agent. Any resignation duties of the Program Agent shall be effective upon the appointment of a successor program agent pursuant to this Section 8.05 and the acceptance of such appointment by such successor. After the effectiveness of any retiring Program Agent's resignation hereunder as Program Agent, and the retiring Program Agent shall be discharged from its duties and obligations hereunder and under the other Transaction Documents. After any retiring Program Documents and Agent’s resignation hereunder, the provisions of this Article VIII and Section 9.04 6.07 and Article X shall continue in effect for inure to its benefit with respect as to any actions taken or omitted to be taken by it while it was the Program Agent under this Agreement and under the other Program DocumentsAgent.

Successor Program Agent. The Program Agent may, upon at least thirty (30) days' notice to the Borrower, the Conduit Lenders Borrower and the Secondary Lenderseach Investor Agent, resign as Program Agent. If Such resignation shall not become effective until a successor agent is appointed by the Investor Agents (with the approval of the Borrower, which approval shall not be unreasonably withheld and shall not be required if an Incipient Event of Termination or an Event of Termination has occurred and is continuing) and has accepted such appointment. Upon such acceptance of its appointment as Program Agent hereunder by a successor Program Agent, such successor Program Agent shall resign, then succeed to and become vested with all the Majority Banks during such thirty (30) day period shall appoint from among the Secondary Lenders a successor program agent. If for any reason a successor program agent is not so appointed rights and does not accept such appointment during such thirty (30) day period, the Program Agent may appoint a successor program agent. Any resignation duties of the Program Agent shall be effective upon the appointment of a successor program agent pursuant to this Section 8.05 and the acceptance of such appointment by such successor. After the effectiveness of any retiring Program Agent's resignation hereunder as Program Agent, and the retiring Program Agent shall be discharged from its duties and obligations hereunder and under the other Transaction Documents. After any retiring Program Documents and Agent's resignation hereunder, the provisions of this Article VIII and Section 9.04 6.07 and Article X shall continue in effect for inure to its benefit with respect as to any actions taken or omitted to be taken by it while it was the Program Agent under this Agreement and under the other Program DocumentsAgent.