Common use of Additional and Separate Trustees Clause in Contracts

Additional and Separate Trustees. (a) If the Owner Trustee or the Owner Participant shall conclude that it is necessary or prudent in order to conform to the law of any jurisdiction in which all or any part of the Trust Estate shall be situated, or to make or defend any claim or bring or defend any suit with respect to the Trust Estate or any Operative Agreement, or pursuant to advice of counsel satisfactory to it, or if the Owner Trustee shall have been instructed to do so by the Owner Participant, the Owner Trustee shall appoint another Person to act as additional or separate trustee for all or any part of the Trust Estate with such property, title, right, power or duty of the Owner Trustee as the Owner Trustee and the Owner Participant may determine. In case any such additional trustee or separate trustee shall resign or be removed, all the assets, property, rights, powers or duties of such additional trustee or separate trustee, as the case may be, so far as permitted by any applicable law, shall vest in and be exercised by a new successor to such additional trustee, appointed in the manner otherwise provided in this Trust Agreement.

Additional and Separate Trustees. (a) If the Owner Managing Trustee -------------------------------- or the Owner Participant shall conclude that it is necessary or prudent in order to conform to the law of any other jurisdiction in which all or any part of the Trust Estate shall be situated, or to make or defend any claim or bring or defend any suit with respect to the Trust Estate Estate, the Secured Notes or any Operative AgreementDocument, or pursuant to advice of counsel satisfactory to it, or if the Owner Managing Trustee shall have been instructed directed to do so by the Owner Participant, the Owner Managing Trustee shall appoint another Person to act as additional or separate trustee for all or any part of the Trust Estate with such property, title, right, power or duty of the Owner Trustee as the Owner Managing Trustee and the Owner Participant may determine. In case any such additional trustee or separate trustee shall resign or be removed, all the assets, property, rights, powers or duties of such additional trustee or separate trustee, as the case may be, so far as permitted by any applicable law, shall vest in and be exercised by a new successor to such additional trustee, appointed in the manner otherwise provided in this Trust Agreement.

Additional and Separate Trustees. (a) If the Owner Trustee -------------------------------- or the Owner Participant shall conclude that it is necessary or prudent in order to conform to the law of any jurisdiction in which all or any part of the Trust Estate shall be situated, or to make or defend any claim or bring or defend any suit with respect to the Trust Estate Estate, the Secured Notes or any Operative AgreementDocument, or pursuant to advice of counsel satisfactory to it, or if the Owner Trustee shall have been instructed directed to do so by the Owner Participant, the Owner Trustee shall appoint another Person to act as additional or separate trustee for all or any part of the Trust Estate with such property, title, right, power or duty of the Owner Trustee as the Owner Trustee and the Owner Participant may determine. In case any such additional trustee or separate trustee shall resign or be removed, all the assets, property, rights, powers or duties of such additional trustee or separate trustee, as the case may be, so far as permitted by any applicable law, shall vest in and be exercised by a new successor to such additional trustee, appointed in the manner otherwise provided in this Trust Agreement.

Additional and Separate Trustees. (a) If the Owner Trustee or the Owner Participant Agent Certificate Holder shall conclude that it is necessary or prudent in order to conform to the law of any jurisdiction in which all or any part of the Trust Estate shall be situated, or to make or defend any claim or bring or defend any suit with respect to the Trust Estate or any Operative AgreementDocument, or pursuant to advice of counsel satisfactory to it, or if the Owner Trustee shall have been instructed to do so by the Owner ParticipantAgent Certificate Holder, the Owner Trustee shall appoint another Person to act as additional or separate trustee for all or any part of the Trust Estate with such property, title, right, power or duty of the Owner Trustee as the Owner Trustee and the Owner Participant Agent Certificate Holder may determine. In case any such additional trustee or separate trustee shall resign or be removed, all the assets, property, rights, powers or duties of such additional trustee or separate trustee, as the case may be, so far as permitted by any applicable lawApplicable Law, shall vest in and be exercised by a new successor to such additional trustee, appointed in the manner otherwise provided in this Trust Agreement.