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

Appointment and Retirement of UK Security Trustee. The UK Security Trustee (a) subject to the appointment of a successor (provided that no Default exists, in consultation with the Borrower Agent) may, and must if Agent requires, retire at any time from its position as UK 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 Secured Parties and the Borrower Agent not less than 30 days’ nor more than 60 days’ notice.

Appointment and Retirement of UK Security Trustee. The UK Security Trustee (a) subject to the appointment of a successor (provided that no Default exists, in consultation with the Borrower UK Loan Party Agent) may, and must if the Agent requires, retire at any time from its position as UK 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 UK Facility Secured Parties and the Borrower UK Loan Party Agent not less than 30 days’ nor more than 60 days’ notice.. 192