Acceptance by Successor. Every successor Administrator appointed hereunder shall execute, acknowledge and deliver to its predecessor and also to the Trust an instrument in writing accepting such appointment hereunder, whereupon such successor, without any further act, deed or conveyance, shall become fully vested with all the estates, properties, rights, powers, duties and obligations of its predecessors. Such predecessor shall, nevertheless, on the written request of its successor or the Trust, execute and deliver an instrument transferring to such successor all the estates, properties, rights and powers of such predecessor hereunder. Every predecessor Administrator shall forthwith deliver all records or other property of the Trust then in its possession or custody to its successor.
Appears in 8 contracts
Samples: Administration Agreement (2017 Mandatory Exchangeable Trust), Administration Agreement (Mandatory Exchangeable Trust), Administration Agreement (2010 Swift Mandatory Common Exchange Security Trust)
