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, the Secondary Lenders and the Direct Lenders, resign as Program Agent. If the Program Agent shall resign, then the Majority Lenders during such thirty (30) day period shall appoint from among the Secondary Lenders and the Direct 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 61 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 thirty (30) days' notice to the Borrower, the Conduit Lenders, Lender and the Secondary Lenders and the Direct Lenders, resign as Program Agent. If the Program Agent shall resign, then the Majority Lenders Banks during such thirty (30) day period shall appoint from among the Secondary Lenders and the Direct 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 61 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 thirty (30) days' ’ notice to the Borrower, the Conduit Lenders, the Secondary Lenders and the Direct Lenders, resign as Program Agent. If the Program Agent shall resign, then the Majority Lenders during such thirty (30) day period shall appoint from among the Secondary Lenders and the Direct 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 ’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 61 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 thirty (30) days' notice to the Borrower, the Conduit Lenders, the Secondary Lenders and the Direct Secondary Lenders, resign resigns as Program Agent. If the Program Agent shall resign, then the Majority Lenders during such thirty (30) day period shall appoint from among the Secondary Lenders and the Direct 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 61 this Article VIII and Section 9.04 10.04 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.