Common use of Appointment and Retirement of European Security Trustee Clause in Contracts

Appointment and Retirement of European Security Trustee. European Security Trustee subject to the appointment of a successor (in consultation with the Foreign Borrower Agent) may, and must if the Agent requires, retire at any time from its position as European Security Trustee under the Loan Documents without assigning any reason, and must give notice of its intention to retire by giving to the other Foreign Facility Secured Parties and the Foreign Borrower Agent not less than 30 days’ nor more than 60 days’ notice.

Appointment and Retirement of European Security Trustee. The European Security Trustee (a) subject to the appointment of a successor (in consultation with the Foreign Borrower European Loan Party Agent) may, and must if the Agent requires, retire at any time from its position as European Security Trustee under the Loan Documents without assigning any reason, and (b) must give notice of its intention to retire by giving to the other Foreign Facility European Secured Parties and the Foreign Borrower European Loan Party Agent not less than 30 days’ nor more than 60 days’ notice.

Appointment and Retirement of European Security Trustee. European Security Trustee subject to the appointment of a successor (in consultation with the Foreign Borrower Agent) may, and must if the Agent requires, retire at any time from its position as European Security Trustee under the Loan Documents without assigning any reason, and must give notice of its intention to retire by giving to the other Foreign Facility Secured Parties and the Foreign Borrower Agent not less than 30 days’ nor more than 60 days’ notice.