Common use of Removal of the Trustee Clause in Contracts

Removal of the Trustee. Subject to Section 8.10 below, the Trustee may be removed with or without cause by means of a written notice delivered to the Trustee at least 60 (sixty) calendar days in advance of the effective date of such removal (i) by the Manager with the consent of the Ordinary Holders Meeting, or (ii) by the Ordinary Holders Meeting, with notice to the Manager. The Manager or the Ordinary Holders Meeting shall appoint a substitute Trustee, which shall be acceptable to the Manager (if the Ordinary Holders delivered such notice) or to the Ordinary Holders Meeting (if the Manager delivered such notice). The Trustee shall not cease to be the Trustee hereunder until the substitute Trustee executes the acknowledgment document referred to in Section 8.11(b).

Removal of the Trustee. Subject to Section 8.10 below, the Trustee may be removed with or without cause by means of a written notice delivered to the Trustee at least 60 (sixty) calendar days in advance of the effective date of such removal (i) by the Manager with the consent of the Ordinary Holders Meeting, or (ii) by the Ordinary Holders Meeting, with notice to the Manager. The Manager or the Ordinary Holders Meeting shall appoint a substitute Trustee, which shall be acceptable to the Manager (if the Ordinary Holders delivered such notice) or to the Ordinary Holders Meeting (if the Manager delivered such notice). The Trustee shall not cease to be the Trustee hereunder until the substitute Trustee executes the acknowledgment document referred to in Section 8.11(b).