Common use of Appointment of Additional Co-Trustee or Separate Trustee Clause in Contracts

Appointment of Additional Co-Trustee or Separate Trustee. (a) Notwithstanding any other provisions of this Agreement, at any time, for the purpose of meeting any legal requirements of any jurisdiction in which any part of the Trust Property, including, without limitation, any Financed Student Loan, may at the time be located, the Administrator and the Co-Owner Trustee acting jointly shall have the power and shall execute and deliver all instruments to appoint one or more Persons to act as co-trustee, jointly with the Owner Trustee, the Co-Owner Trustee or the Trust Eligible Lender Trustee, as the case may be, or separate trustee or separate trustees, of all or any part of the Trust Property, and to vest in such Person, in such capacity, such title to the Trust Property, or any part thereof, and, subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Administrator and the Co-Owner Trustee may consider necessary or desirable. If the Administrator shall not have joined in such appointment within 15 days after the receipt by it of a request so to do, the Co-Owner Trustee shall have the power to make such appointment. No co-trustee or separate trustee under this Agreement shall be required to meet the terms of eligibility as a successor trustee pursuant to Section 10.1 and no notice of the appointment of any co-trustee or separate trustee shall be required pursuant to Section 10.1; provided, however, that such co-trustee with or separate trustee from the Trust Eligible Lender Trustee shall be an Eligible Lender.

Appointment of Additional Co-Trustee or Separate Trustee. (a) Notwithstanding any other provisions of this Agreementhereof, at any time, for the purpose of meeting any legal requirements of any jurisdiction in which any part of the Trust Property, including, without limitation, any Financed Student Loan, Fund or property securing Group A Mortgage Loans or Group B Mortgage Loans may at the time be located, the Administrator applicable Master Servicer and the Trustee (or the Co-Owner Trustee Trustee, as applicable) acting jointly shall have the power and shall execute and deliver all instruments to appoint one or more Persons approved by the Co-Trustee to act as additional co-trusteetrustee or co-trustees, jointly with the Owner Co-Trustee, or approved by the Co-Owner Trustee or the Trust Eligible Lender Trustee, to act as the case may be, or separate trustee or separate trustees, of all or any part of the Trust PropertyFund, and to vest in such PersonPerson or Persons, in such capacity, such title to the Trust PropertyFund, or any part thereof, and, subject to the other provisions of this SectionSection 8.10, such powers, duties, obligations, rights and trusts as the Administrator applicable Master Servicer and the Trustee (or the Co-Owner Trustee Trustee, as applicable) may consider necessary or desirable. If the Administrator applicable Master Servicer shall not have joined in such appointment within 15 days after the receipt by it of a request so to dodo so, or in case an Event of Default shall have occurred and be continuing, the Trustee (or the Co-Owner Trustee Trustee, as applicable) alone shall have the power to make such appointment. No additional co-trustee or separate trustee under this Agreement hereunder shall be required to meet the terms of eligibility as a successor trustee pursuant to under Section 10.1 8.06 hereunder and no notice to Holders of Certificates of the appointment of any additional co-trustee(s) or separate trustee(s) shall be required under Section 8.08 hereof. All co-trustee or separate trustee fees shall be required pursuant to Section 10.1; provided, however, that such co-trustee with or separate trustee from payable out of the Trust Eligible Lender Trustee shall be an Eligible LenderFund.

Appointment of Additional Co-Trustee or Separate Trustee. (a) Notwithstanding any other provisions of this Agreementhereof, at any time, for the purpose of meeting any legal requirements of any jurisdiction in which any part of the Trust Property, including, without limitation, any Financed Student Loan, Fund or property securing the same may at the time be located, the Administrator Master Servicer and the Trustee (or the Co-Owner Trustee Trustee, as applicable) acting jointly shall have the power and shall execute and deliver all instruments to appoint one or more Persons approved by the Co-Trustee to act as additional co-trusteetrustee or co-trustees, jointly with the Owner Co-Trustee, or approved by the Co-Owner Trustee or the Trust Eligible Lender Trustee, to act as the case may be, or separate trustee or separate trustees, of all or any part of the Trust PropertyFund, and to vest in such PersonPerson or Persons, in such capacity, such title to the Trust PropertyFund, or any part thereof, and, subject to the other provisions of this SectionSection 8.10, such powers, duties, obligations, rights and trusts as the Administrator Master Servicer and the Trustee (or the Co-Owner Trustee Trustee, as applicable) may consider necessary or desirable. If the Administrator Master Servicer shall not have joined in such appointment within 15 days after the receipt by it of a request so to dodo so, or in case an Event of Default in respect of the Master Servicer shall have occurred and be continuing, the Trustee (or the Co-Owner Trustee Trustee, as applicable) alone shall have the power to make such appointment. No additional co-trustee or separate trustee under this Agreement hereunder shall be required to meet the terms of eligibility as a successor trustee pursuant to under Section 10.1 8.06 hereunder and no notice to Holders of Certificates of the appointment of any additional co-trustee trustee(s) or separate trustee trustee(s) shall be required pursuant to under Section 10.1; provided, however, that such co-trustee with or separate trustee from the Trust Eligible Lender Trustee shall be an Eligible Lender8.08 hereof.

Appointment of Additional Co-Trustee or Separate Trustee. (a) Notwithstanding any other provisions of this Agreement, at any time, for the purpose of meeting any legal requirements of any jurisdiction in which any part of the Trust Property, including, without limitation, any Financed Student Loan, may at the time be located, the Administrator and the Co-Owner Trustee acting jointly shall have the power and shall execute and deliver all instruments to appoint one or more Persons to act as co-trustee, jointly with the Owner Delaware Trustee, the Co-Owner Trustee or the Trust Co-Owner Eligible Lender Trustee, as the case may be, or separate trustee or separate trustees, of all or any part of the Trust Property, and to vest in such Person, in such capacity, such title to the Trust Property, or any part thereof, and, subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Administrator and the Co-Owner Trustee may consider necessary or desirable. If the Administrator shall not have joined in such appointment within 15 days after the receipt by it of a request so to do, the Co-Owner Trustee shall have the power to make such appointment. No co-trustee or separate trustee under this Agreement shall be required to meet the terms of eligibility as a successor trustee pursuant to Section 10.1 hereof and no notice of the appointment of any co-trustee or separate trustee shall be required pursuant to Section 10.1; provided, however, that such co-trustee with or separate trustee from the Trust Eligible Lender Trustee shall be an Eligible Lender.appointment

Appointment of Additional Co-Trustee or Separate Trustee. (a) Notwithstanding any other provisions of this Agreement, at any time, for the purpose of meeting any legal requirements of any jurisdiction in which any part of the Trust Property, including, without limitation, any Financed Student Loan, may at the time be located, the Administrator and the Co-Owner Trustee acting jointly shall have the power and shall execute and deliver all instruments to appoint one or more Persons to act as co-trustee, jointly with the Owner Delaware Trustee, the Co-Owner Trustee or the Trust Co-Owner Eligible Lender Trustee, as the case may be, or separate trustee or separate trustees, of all or any part of the Trust Property, and to vest 36 41 in such Person, in such capacity, such title to the Trust Property, or any part thereof, and, subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Administrator and the Co-Owner Trustee may consider necessary or desirable. If the Administrator shall not have joined in such appointment within 15 days after the receipt by it of a request so to do, the Co-Owner Trustee shall have the power to make such appointment. No co-trustee or separate trustee under this Agreement shall be required to meet the terms of eligibility as a successor trustee pursuant to Section 10.1 hereof and no notice of the appointment of any co-trustee or separate trustee shall be required pursuant to Section 10.110.1 hereof; provided, however, that such co-trustee with or separate trustee from the Trust Co-Owner Eligible Lender Trustee shall be an Eligible Lender"eligible lender" under the Higher Education Act.

Appointment of Additional Co-Trustee or Separate Trustee. (a) Notwithstanding any other provisions of this Agreement, at any time, for the purpose of meeting any legal requirements of any jurisdiction in which any part of the Trust Property, including, without limitation, any Financed Student Loan, may at the time be located, the Administrator and the Co-Owner Trustee acting jointly shall have the power and shall execute and deliver all instruments to appoint one or more Persons to act as co-trustee, jointly with the Owner Trustee, the Co-Owner Trustee or the Trust Eligible Lender Trustee, as the case may be, or separate trustee or separate trustees, of all or any part of the Trust Property, and to vest in such 32 Trust Agreement Person, in such capacity, such title to the Trust Property, or any part thereof, and, subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Administrator and the Co-Owner Trustee may consider necessary or desirable. If the Administrator shall not have joined in such appointment within 15 days after the receipt by it of a request so to do, the Co-Owner Trustee shall have the power to make such appointment. No co-trustee or separate trustee under this Agreement shall be required to meet the terms of eligibility as a successor trustee pursuant to Section 10.1 and no notice of the appointment of any co-trustee or separate trustee shall be required pursuant to Section 10.1; provided, however, that such co-trustee with or separate trustee from the Trust Eligible Lender Trustee shall be an Eligible Lender.

Appointment of Additional Co-Trustee or Separate Trustee. (a) Notwithstanding any other provisions of this Agreement, at any time, for the purpose of meeting any legal requirements of any jurisdiction in which any part of the Trust Property, including, without limitation, any Financed Student Loan, may at the time be located, the Administrator and the Co-Owner Trustee acting jointly shall have the power and shall execute and deliver all instruments to appoint one or more Persons to act as co-trustee, jointly with the Owner Trustee, the Co-Owner Trustee or the Trust Eligible Lender Trustee, as the case may be, or separate trustee or separate trustees, of all or any part of the Trust Property, and to vest in such 36 of 41 Person, in such capacity, such title to the Trust Property, or any part thereof, and, subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Administrator and the Co-Owner Trustee may consider necessary or desirable. If the Administrator shall not have joined in such appointment within 15 days after the receipt by it of a request so to do, the Co-Owner Trustee shall have the power to make such appointment. No co-trustee or separate trustee under this Agreement shall be required to meet the terms of eligibility as a successor trustee pursuant to Section 10.1 and no notice of the appointment of any co-trustee or separate trustee shall be required pursuant to Section 10.1; provided, however, that such co-trustee with or separate trustee from the Trust Eligible Lender Trustee shall be an Eligible Lender.