Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxx X. Xxxxxxx, an individual, and Xxxxx X. Xxxxxx, an individual, and their successors shall be appointed by the Holder of the Common Securities and may be removed by the Holder of the Common Securities at any time. Each Administrative Trustee shall sign an agreement agreeing to comply with the terms of this Trust Agreement. If at any time there is no Administrative Trustee, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrative Trustee. (b) Whenever a vacancy in the number of Administrative Trustees shall occur, until such vacancy is filled by the appointment of an Administrative Trustee in accordance with this Section 8.19, the Administrative Trustees in office, regardless of their number (and notwithstanding any other provision of this Agreement), shall have all the powers granted to the Administrative Trustees and shall discharge all the duties imposed upon the Administrative Trustees by this Trust Agreement. Notwithstanding the foregoing or any other provision of this Trust Agreement, in the event any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holder of Common Securities, incompetent or incapacitated, the vacancy created by such death, incompetence or incapacity may be filled by the unanimous act of the remaining Administrative Trustees if there were at least two of them prior to such vacancy (with the successor in each case being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 8 contracts
Samples: Trust Agreement (KeyCorp Capital VIII), Trust Agreement (KeyCorp Capital VIII), Trust Agreement (Keycorp /New/)
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxx X. Xxxxxxx[ ], an individual, and Xxxxx X. Xxxxxx[ ], an individual, and their successors shall be appointed by the Holder of the Common Securities and may be removed by the Holder of the Common Securities at any time. Each Administrative Trustee shall sign an agreement agreeing to comply with the terms of this Trust Agreement. If at any time there is no Administrative Trustee, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrative Trustee.
(b) Whenever a vacancy in the number of Administrative Trustees shall occur, until such vacancy is filled by the appointment of an Administrative Trustee in accordance with this Section 8.19, the Administrative Trustees in office, regardless of their number (and notwithstanding any other provision of this Agreement), shall have all the powers granted to the Administrative Trustees and shall discharge all the duties imposed upon the Administrative Trustees by this Trust Agreement. Notwithstanding the foregoing or any other provision of this Trust Agreement, in the event any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holder of Common Securities, incompetent or incapacitated, the vacancy created by such death, incompetence or incapacity may be filled by the unanimous act of the remaining Administrative Trustees if there were at least two of them prior to such vacancy (with the successor in each case being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 7 contracts
Samples: Trust Agreement (Goldman Sachs Capital III), Trust Agreement (Goldman Sachs Group Inc/), Trust Agreement (Goldman Sachs Capital V)
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxx X. XxxxxxxXxxxxx, an individual, and Xxxxx Xxxxxx X. XxxxxxXxxxxxxxx, an individual, and their successors shall be appointed by the Holder of the Common Securities and may be removed by the Holder of the Common Securities at any time. Each Administrative Trustee shall sign an agreement agreeing to comply with the terms of this Trust Agreement. If at any time there is no Administrative Trustee, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrative Trustee.
(b) Whenever a vacancy in the number of Administrative Trustees shall occur, until such vacancy is filled by the appointment of an Administrative Trustee in accordance with this Section 8.19, the Administrative Trustees in office, regardless of their number (and notwithstanding any other provision of this Agreement), shall have all the powers granted to the Administrative Trustees and shall discharge all the duties imposed upon the Administrative Trustees by this Trust Agreement. Notwithstanding the foregoing or any other provision of this Trust Agreement, in the event any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holder of Common Securities, incompetent or incapacitated, the vacancy created by such death, incompetence or incapacity may be filled by the unanimous act of the remaining Administrative Trustees if there were at least two of them prior to such vacancy (with the successor in each case being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 3 contracts
Samples: Trust Agreement (Citizens Funding Trust II), Trust Agreement (Citizens Banking Corp), Trust Agreement (Citizens Funding Trust IV)
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxx Xxxxx X. XxxxxxxXxxxxxxxx, an individual, and Xxxxx Xxxxxxx X. XxxxxxXxxxxxxxxx, Xx., an individual, and their successors shall be appointed by the Holder of a Majority in Liquidation Amount of the Common Securities Securities, and may resign or be removed by the Holder Holders of a Majority in Liquidation Amount of the Common Securities at any time. Each Upon any resignation or removal, the Depositor shall appoint a successor Administrative Trustee shall sign an agreement agreeing to comply with the terms of this Trust AgreementTrustee. If at any time there is no Administrative Trustee, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrative TrusteeTrustees.
(b) Whenever a vacancy in the number of Administrative Trustees shall occur, until such vacancy is filled by the appointment of an Administrative Trustee in accordance with this Section 8.198.20, the Administrative Trustees in office, regardless of their number (and notwithstanding any other provision of this Agreement), shall have all the powers granted to the Administrative Trustees and shall discharge all the duties imposed upon the Administrative Trustees by this Trust Agreement. .
(c) Notwithstanding the foregoing or any other provision of this Trust Agreement, in the event if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holder of a Majority in Liquidation Amount the Common Securities, incompetent or incapacitated, the vacancy created by such death, incompetence or incapacity may be filled by the unanimous act of the remaining Administrative Trustees Trustees, if there were at least two of them prior to such vacancy, and by the Depositor, if there were not two such Administrative Trustees immediately prior to such vacancy (with the successor in each case being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 3 contracts
Samples: Trust Agreement (Seacoast Financial Services Corp), Trust Agreement (Seacoast Financial Services Corp), Trust Agreement (Seacoast Financial Services Corp)
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxx Danixx X. Xxxxxxx, an xx individual, and Xxxxx Louix X. Xxxxxx, an xx individual, and their successors shall be appointed by the Holder of the Common Securities and may be removed by the Holder of the Common Securities at any time. Each Administrative Trustee shall sign an agreement agreeing to comply with the terms of this Trust Agreement. If at any time there is no Administrative Trustee, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrative Trustee.
(b) Whenever a vacancy in the number of Administrative Trustees shall occur, until such vacancy is filled by the appointment of an Administrative Trustee in accordance with this Section 8.19, the Administrative Trustees in office, regardless of their number (and notwithstanding any other provision of this Agreement), shall have all the powers granted to the Administrative Trustees and shall discharge all the duties imposed upon the Administrative Trustees by this Trust Agreement. Notwithstanding the foregoing or any other provision of this Trust Agreement, in the event any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holder of Common Securities, incompetent or incapacitated, the vacancy created by such death, incompetence or incapacity may be filled by the unanimous act of the remaining Administrative Trustees if there were at least two of them prior to such vacancy (with the successor in each case being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 3 contracts
Samples: Trust Agreement (Keycorp Capital Ii), Trust Agreement (Keycorp Capital I), Trust Agreement (Keycorp Capital Iii)
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxx X. Xxxxxxx________________, an individual, and Xxxxx X. Xxxxxx___________________, an individual, and their successors shall be appointed by the Holder Holders of a Majority in Liquidation Amount of the Common Securities Securities, and they may resign or be removed by the Holder Holders of a Majority in Liquidation Amount of the Common Securities at any time. Upon any resignation or removal, the Holders of the Common Securities shall appoint a successor Administrative Trustee. Each successor Administrative Trustee shall sign an agreement agreeing to comply with the terms of this Trust Agreement. If at any time there is no Administrative Trustee, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrative TrusteeTrustees.
(b) Whenever a vacancy in the number of Administrative Trustees shall occur, until such vacancy is filled by the appointment of an Administrative Trustee in accordance with this Section 8.198.20, the Administrative Trustees in office, regardless of their number (and notwithstanding any other provision of this Agreement), shall have all the powers granted to the Administrative Trustees and shall discharge all the duties imposed upon the Administrative Trustees by this Trust Agreement. .
(c) Notwithstanding the foregoing or any other provision of this Trust Agreement, in the event if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holder of Common SecuritiesDepositor, incompetent or incapacitated, the vacancy created by such death, incompetence or incapacity may be filled by the unanimous act acts of the remaining Administrative Trustees Trustees, if there were at least two of them prior to such vacancy, and by the Depositor, if there were not two such Administrative Trustees immediately prior to such vacancy (with the successor in each case being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).. -45-
Appears in 2 contracts
Samples: Trust Agreement (Fifth Third Capital Trust Iv), Trust Agreement (Fifth Third Capital Trust Iv)
Appointment of Administrative Trustees. (a) The Administrative Trustees Trustee shall initially be Xxxxxx X. XxxxxxxW. Fxxxx Xxxley and Young J. Bxxxxx, an individual, and Xxxxx X. Xxxxxx, an individualXXI, and their successors shall be appointed by the Holder of all the Common Securities and Securities. The Administrative Trustees may resign or be removed by the Holder of all the Common Securities at any time. Each Upon any resignation or removal of an Administrative Trustee Trustee, the Depositor shall sign an agreement agreeing to comply with the terms of this Trust Agreementappoint a successor Administrative Trustee. If at any time there is no Administrative Trustee, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrative TrusteeTrustees.
(b) Whenever a vacancy in the number of Administrative Trustees shall occur, until such vacancy is filled by the appointment of an Administrative Trustee in accordance with this Section 8.198.20, the Administrative Trustees in office, regardless of their number (and notwithstanding any other provision of this Agreement), shall have all the powers granted to the Administrative Trustees and shall discharge all the duties imposed upon the Administrative Trustees by this Trust Agreement. .
(c) Notwithstanding the foregoing or any other provision of this Trust Agreement, in the event if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holder of all the Common Securities, incompetent or incapacitated, the vacancy created by such death, incompetence or incapacity may be filled by the unanimous act of the remaining Administrative Trustees Trustees, if there were at least two of them prior to such vacancy, and by the Depositor, if there were not two such Administrative Trustees immediately prior to such vacancy (with the successor in each case being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).. ARTICLE IX
Appears in 2 contracts
Samples: Trust Agreement (Colonial Bancgroup Inc), Trust Agreement (Colonial Capital Ii)
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxx X. Xxxxxxx, an individual, and Xxxxx X. Xxxxxx, an individual, and their successors shall be appointed by the Holder of the Common Securities and may be removed by the Holder of the Common Securities at any time. Each Administrative Trustee shall sign an agreement agreeing to comply with the terms of this Trust Agreement. If at any time there is no Administrative Trustee, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrative Trustee.
(b) Whenever a vacancy in the number of Administrative Trustees shall occur, until such vacancy is filled by the appointment of an Administrative Trustee in accordance with this Section 8.19, the Administrative Trustees in office, regardless of their number (and notwithstanding any other provision of this Agreement), shall have all the powers granted to the Administrative Trustees and shall discharge all the duties imposed upon the Administrative Trustees by this Trust Agreement. Notwithstanding the foregoing or any other provision of this Trust Agreement, in the event any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holder of Common Securities, incompetent or incapacitated, the vacancy created by such death, incompetence or incapacity may be filled by the unanimous act of the remaining Administrative Trustees if there were at least two of them prior to such vacancy (with the successor in each case being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 2 contracts
Samples: Trust Agreement (KeyCorp Capital VIII), Trust Agreement (KeyCorp Capital VIII)
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxx Xxxxx X. XxxxxxxXxxxxxxx, an individual, and Xxxxx X. XxxxxxXxxxxxx Xxxxxxx, an individual, and their successors shall be appointed by the Holder Holders of a Majority in Liquidation Amount of the Common Securities and may resign or be removed by the Holder Holders of a Majority in Liquidation Amount of the Common Securities at any time. Upon any resignation or removal, the Depositor shall promptly appoint a successor Administrative Trustee. Each Administrative Trustee shall sign an agreement agreeing to comply with the terms of this Trust Agreement. If at any time there is no Administrative Trustee, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrative TrusteeTrustees.
(b) Whenever a vacancy in the number of Administrative Trustees shall occur, until such vacancy is filled by the appointment of an Administrative Trustee in accordance with this Section 8.198.20, the Administrative Trustees in office, regardless of their number (and notwithstanding not withstanding any other provision of this Agreement), shall have all the powers granted to the Administrative Trustees and shall discharge all the duties imposed upon the Administrative Trustees by this Trust Agreement. .
(c) Notwithstanding the foregoing or any other provision of this Trust Agreement, in the event if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holder of Common SecuritiesDepositor, incompetent or incapacitated, the vacancy created by such death, incompetence or incapacity may be filled by the unanimous act acts of the remaining Administrative Trustees Trustee, if there were at least two of them prior to such vacancy, and by the Depositor, if there were not two such Administrative Trustees immediately prior to such vacancy (with the successor in each case being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 2 contracts
Samples: Trust Agreement (Popular Inc), Trust Agreement (Popular North America Capital Trust Iii)
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxx X. Txx Xxxxxxxxxx, an individual, Mxxx Xxxxxxx, an individual, and Xxxxx X. XxxxxxDxxxxx Xxxxx, an individual, and their successors shall be appointed by the Holder Holders of a majority in Liquidation Amount of the Common Securities and may resign or be removed by the Holder Holders of a majority in Liquidation Amount of the Common Securities at any time. Each Upon any resignation or removal, the Depositor shall appoint a successor Administrative Trustee shall sign an agreement agreeing to comply with the terms of this Trust AgreementTrustee. If at any time there is no Administrative Trustee, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrative Trustee.
(b) Trustees. Whenever a vacancy in the number of Administrative Trustees shall occur, until such vacancy is filled by the appointment of an Administrative Trustee in accordance with this Section 8.198.18 or Section 8.9, the Administrative Trustees in office, regardless of their number (and notwithstanding not withstanding any other provision of this Agreement), shall have all the powers granted to the Administrative Trustees and shall discharge all the duties imposed upon the Administrative Trustees by this Trust Agreement. Notwithstanding the foregoing or any other provision of this Trust Agreement, in the event if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holder Holders of a majority in Liquidation Amount the Common Securities, incompetent or incapacitated, the vacancy created by such death, incompetence or incapacity may be filled by the unanimous act of the remaining Administrative Trustees Trustees, if there were at least two of them prior to such vacancy, and by the Depositor, if there were not two such Administrative Trustees immediately prior to such vacancy (with the successor in each case being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 1 contract
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxx Paul X. Xxxxxxxx, xx individual, and Randxxxx X. Xxxxxxx, an individual, and Xxxxx X. Xxxxxx, an xx individual, and their successors shall be appointed by the Holder Holders of a Majority in Liquidation Amount of the Common Securities Securities, and they may resign or be removed by the Holder Holders of a Majority in Liquidation Amount of the Common Securities at any time. Upon any resignation or -44- 51 removal, the Holders of the Common Securities shall appoint a successor Administrative Trustee. Each successor Administrative Trustee shall sign an agreement agreeing to comply with the terms of this Trust Agreement. If at any time there is no Administrative Trustee, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrative TrusteeTrustees.
(b) Whenever a vacancy in the number of Administrative Trustees shall occur, until such vacancy is filled by the appointment of an Administrative Trustee in accordance with this Section 8.198.20, the Administrative Trustees in office, regardless of their number (and notwithstanding any other provision of this Agreement), shall have all the powers granted to the Administrative Trustees and shall discharge all the duties imposed upon the Administrative Trustees by this Trust Agreement. .
(c) Notwithstanding the foregoing or any other provision of this Trust Agreement, in the event if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holder of Common SecuritiesDepositor, incompetent or incapacitated, the vacancy created by such death, incompetence or incapacity may be filled by the unanimous act acts of the remaining Administrative Trustees Trustees, if there were at least two of them prior to such vacancy, and by the Depositor, if there were not two such Administrative Trustees immediately prior to such vacancy (with the successor in each case being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 1 contract
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxx X. Xxxxxxx, an individual, and Xxxxx X. Xxxxxx, an individual, and their successors shall be appointed by the Holder of the Common Securities Securityholder and may be removed by the Holder of the Common Securities Securityholder at any time. Each Administrative Trustee shall sign an agreement agreeing to comply with the terms of this Trust Agreement. If at any time there is no Administrative Trustee, the Property Trustee or any Holder Securityholder who has been a Holder Securityholder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrative TrusteeTrustees.
(b) Whenever a vacancy in the number of Administrative Trustees shall occur, until such vacancy is filled by the appointment of an Administrative Trustee in accordance with this Section 8.19, the Administrative Trustees in office, regardless of their number (and notwithstanding any other provision of this Agreement), shall have all the powers granted to the Administrative Trustees and shall discharge all the duties imposed upon the Administrative Trustees by this Trust Agreement. Notwithstanding the foregoing or any other provision of this Trust Agreement, in the event any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holder of Common SecuritiesSecurityholder, incompetent or incapacitated, the vacancy created by such death, incompetence or incapacity may be filled by the unanimous act of the remaining Administrative Trustees if there were at least two of them prior to such vacancy (with the successor in each case being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 1 contract
Samples: Trust Agreement (Pmi Group Inc)
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxx K. B. Xxxxx, an individual, X. XxxxxxxX. Xxxxxx, an individual, and Xxxxx X. X. Xxxxxx, an individual, and their successors shall be appointed by the Holder Holders of a Majority in Liquidation Amount of the Common Securities and may resign or may be removed by the Holder Holders of a Majority in Liquidation Amount of the Common Securities at any time. Upon any resignation or removal, the Depositor shall appoint a successor Administrative Trustee. Each Administrative Trustee shall sign an agreement agreeing to comply with the terms of this Trust Agreement. If at any time there is no Administrative Trustee, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrative TrusteeTrustees.
(b) Whenever a vacancy in the number of Administrative Trustees shall occur, until such vacancy is filled by the appointment of an Administrative Trustee in accordance with this Section 8.198.20, the Administrative Trustees in office, regardless of their number (and notwithstanding not withstanding any other provision of this Agreement), shall have all the powers granted to the Administrative Trustees and shall discharge all the duties imposed upon the Administrative Trustees by this Trust Agreement. .
(c) Notwithstanding the foregoing or any other provision of this Trust Agreement, in the event if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holder of Common SecuritiesDepositor, incompetent or incapacitated, the vacancy created by such death, incompetence or incapacity may be filled by the unanimous act acts of the remaining Administrative Trustees Trustees, if there were at least two of them prior to such vacancy, and by the Depositor, if there were not two such Administrative Trustees immediately prior to such vacancy (with the successor in each case being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).. 250
Appears in 1 contract
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxx X. Xxxxxxxx, an individual, Xxxxxxx X. Xxxxxxxx, an individual, Xxxxxx X. XxxxxxxXxxxxx, an individual, and Xxxxx X. XxxxxxXxxxxxx Xxxxxxxxxx, Xx., an individual, and their successors shall be appointed by the Holder Holders of a Majority in Liquidation Amount of the Common Securities and resign or be may be removed by the Holder Holders of a Majority in Liquidation Amount of the Common Securities at any time. Upon any resignation or removal, the Depositor shall appoint a successor Administrative Trustee. Each Administrative Trustee shall sign an agreement agreeing to comply with the terms of this Trust Agreement. If at any time there is no Administrative Trustee, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrative TrusteeTrustees.
(b) Whenever a vacancy in the number of Administrative Trustees shall occur, until such vacancy is filled by the appointment of an Administrative Trustee in accordance with this Section 8.198.20, the Administrative Trustees in office, regardless of their number (and notwithstanding not withstanding any other provision of this Agreement), shall have all the powers granted to the Administrative Trustees and shall discharge all the duties imposed upon the Administrative Trustees by this Trust Agreement. .
(c) Notwithstanding the foregoing or any other provision of this Trust Agreement, in the event if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holder of Common SecuritiesDepositor, incompetent or incapacitated, the vacancy created by such death, incompetence or incapacity may be filled by the unanimous act acts of the remaining Administrative Trustees Trustees, if there were at least two of them prior to such vacancy, and by the Depositor, if there were not two such Administrative Trustees immediately prior to such vacancy (with the successor in each case being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 1 contract
Samples: Trust Agreement (Banponce Corp)
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxx Nxxxx X. XxxxxxxXxxxxx, an individual, Rxxxxxx Xxxxxxxx, an individual, and Xxxxx Jxxx X. XxxxxxXxxxx, an individual, and their successors shall be appointed by the Holder Holders of a Majority in Liquidation Amount of the Common Securities Securities, and they may resign or be removed by the Holder Holders of a Majority in Liquidation Amount of the Common Securities at any time. Upon any resignation or removal, the Holders of the Common Securities shall appoint a successor Administrative Trustee. Each successor Administrative Trustee shall sign an agreement agreeing to comply with the terms of this Trust Agreement. If at any time there is no Administrative Trustee, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrative TrusteeTrustees.
(b) Whenever a vacancy in the number of Administrative Trustees shall occur, until such vacancy is filled by the appointment of an Administrative Trustee in accordance with this Section 8.198.20, the Administrative Trustees in office, regardless of their number (and notwithstanding any other provision of this Agreement), shall have all the powers granted to the Administrative Trustees and shall discharge all the duties imposed upon the Administrative Trustees by this Trust Agreement. .
(c) Notwithstanding the foregoing or any other provision of this Trust Agreement, in the event if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holder of Common SecuritiesDepositor, incompetent or incapacitated, the vacancy created by such death, incompetence or incapacity may be filled by the unanimous act acts of the remaining Administrative Trustees Trustees, if there were at least two of them prior to such vacancy, and by the Depositor, if there were not two such Administrative Trustees immediately prior to such vacancy (with the successor in each case being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 1 contract
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxx X. XxxxxxxAxxx Xxxx, an individual, Dxxxx Xxxx, an individual, and Xxxxx X. XxxxxxVxxxxxxx Foo, an individual, and their successors shall be appointed by the Holder of the Common Securities and may be removed by the Holder of the Common Securities at any time. Each Administrative Trustee shall sign an agreement agreeing to comply with the terms of this Trust Agreement. If at any time there is no Administrative Trustee, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrative Trustee.
(b) Whenever a vacancy in the number of Administrative Trustees shall occur, until such vacancy is filled by the appointment of an Administrative Trustee in accordance with this Section 8.19, the Administrative Trustees in office, regardless of their number (and notwithstanding any other provision of this Trust Agreement), shall have all the powers granted to the Administrative Trustees and shall discharge all the duties imposed upon the Administrative Trustees by this Trust Agreement. Notwithstanding the foregoing or any other provision of this Trust Agreement, in the event any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holder of Common Securities, incompetent or incapacitated, the vacancy created by such death, incompetence or incapacity may be filled by the unanimous act of the remaining Administrative Trustees if there were at least two of them prior to such vacancy (with the successor in each case being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 1 contract
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxx X. Xxxxxxx, an individual, Xxxxxx X. Xxxxxxx, an individual, and Xxxxx Xxxxxxxxxxx X. Xxxxxx, an individual, and their successors shall be appointed by the Holder Holders of a Majority in Liquidation Amount of the Common Securities Securities, and they may resign or be removed by the Holder Holders of a Majority in Liquidation Amount of the Common Securities at any time. Upon any resignation or removal, the Holders of the Common Securities shall appoint a successor Administrative Trustee. Each successor Administrative Trustee shall sign an agreement agreeing to comply with the terms of this Trust AgreementDeclaration of Trust. If at any time there is no Administrative Trustee, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrative TrusteeTrustees.
(b) Whenever a vacancy in the number of Administrative Trustees shall occur, until such vacancy is filled by the appointment of an Administrative Trustee in accordance with this Section 8.198.20, the Administrative Trustees in office, regardless of their number (and notwithstanding any other provision of this Agreement), shall have all the powers granted to the Administrative Trustees and shall discharge all the duties imposed upon the Administrative Trustees by this Trust Agreement. Notwithstanding the foregoing or any other provision Declaration of this Trust Agreement, in the event any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holder of Common Securities, incompetent or incapacitated, the vacancy created by such death, incompetence or incapacity may be filled by the unanimous act of the remaining Administrative Trustees if there were at least two of them prior to such vacancy (with the successor in each case being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7)Trust.
Appears in 1 contract
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxx X. Xxxxxxx[*], an individual, [*], an individual, and Xxxxx X. Xxxxxx[*], an individual, and their successors shall be appointed by the Holder of the Common Securities and may be removed by the Holder of the Common Securities at any time. Each Administrative Trustee shall sign an agreement agreeing to comply with the terms of this Trust Agreement. If at any time there is no Administrative Trustee, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrative Trustee.
(b) Whenever a vacancy in the number of Administrative Trustees shall occur, until such vacancy is filled by the appointment of an Administrative Trustee in accordance with this Section 8.19, the Administrative Trustees in office, regardless of their number (and notwithstanding any other provision of this Agreement), shall have all the powers granted to the Administrative Trustees and shall discharge all the duties imposed upon the Administrative Trustees by this Trust Agreement. Notwithstanding the foregoing or any other provision of this Trust Agreement, in the event any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holder of Common Securities, incompetent or incapacitated, the vacancy created by such death, incompetence or incapacity may be filled by the unanimous act of the remaining Administrative Trustees if there were at least two of them prior to such vacancy (with the successor in each case being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 1 contract
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxx Xxxxx X. XxxxxxxXxxxxx, an individual, Xxxxxxx Xxxxxxxx, an individual, and Xxxxx Xxxx X. XxxxxxXxxxx, an individual, and their successors shall be appointed by the Holder Holders of a Majority in Liquidation Amount of the Common Securities Securities, and they may resign or be removed by the Holder Holders of a Majority in Liquidation Amount of the Common Securities at any time. Upon any resignation or removal, the Holders of the Common Securities shall appoint a successor Administrative Trustee. Each successor Administrative Trustee shall sign an agreement agreeing to comply with the terms of this Trust Agreement. If at any time there is no Administrative Trustee, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrative TrusteeTrustees.
(b) Whenever a vacancy in the number of Administrative Trustees shall occur, until such vacancy is filled by the appointment of an Administrative Trustee in accordance with this Section 8.198.20, the Administrative Trustees in office, regardless of their number (and notwithstanding any other provision of this Agreement), shall have all the powers granted to the Administrative Trustees and shall discharge all the duties imposed upon the Administrative Trustees by this Trust Agreement. .
(c) Notwithstanding the foregoing or any other provision of this Trust Agreement, in the event if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holder of Common SecuritiesDepositor, incompetent or incapacitated, the vacancy created by such death, incompetence or incapacity may be filled by the unanimous act acts of the remaining Administrative Trustees Trustees, if there were at least two of them prior to such vacancy, and by the Depositor, if there were not two such Administrative Trustees immediately prior to such vacancy (with the successor in each case being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 1 contract
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxx X. Xxxxxxx_________________, an individual, and Xxxxx X. Xxxxxx________________, an individual, and their successors shall be appointed by the Holder of a Majority in Liquidation Amount of the Common Securities Securities, and may resign or be removed by the Holder Holders of a Majority in Liquidation Amount of the Common Securities at any time. Each Upon any resignation or removal, the Depositor shall appoint a successor Administrative Trustee shall sign an agreement agreeing to comply with the terms of this Trust AgreementTrustee. If at any time there is no Administrative Trustee, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrative TrusteeTrustees.
(b) Whenever a vacancy in the number of Administrative Trustees shall occur, until such vacancy is filled by the appointment of an Administrative Trustee in accordance with this Section 8.198.20, the Administrative Trustees in office, regardless of their number (and notwithstanding any other provision of this Agreement), shall have all the powers granted to the Administrative Trustees and shall discharge all the duties imposed upon the Administrative Trustees by this Trust Agreement. .
(c) Notwithstanding the foregoing or any other provision of this Trust Agreement, in the event if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holder of a Majority in Liquidation Amount the Common Securities, incompetent or incapacitated, the vacancy created by such death, incompetence or incapacity may be filled by the unanimous act of the remaining Administrative Trustees Trustees, if there were at least two of them prior to such vacancy, and by the Depositor, if there were not two such Administrative Trustees immediately prior to such vacancy (with the successor in each case being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 1 contract
Samples: Trust Agreement (Bny Capital Vii)
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be ) Xxxxxx X. Xxxxxxx, an individual, and Xxxxx X. Xxxxxx, an individual, and their successors shall be appointed by the Holder of the Common Securities and may be removed by the Holder of the Common Securities at any time. Each Administrative Trustee shall sign an agreement agreeing to comply with the terms of this Trust Agreement. If at any time there is no Administrative Trustee, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction for the appointment of one or more Administrative Trustee.
(b) Whenever a vacancy in the number of Administrative Trustees shall occur, until such vacancy is filled by the appointment of an Administrative Trustee in accordance with this Section 8.19, the Administrative Trustees in office, regardless of their number (and notwithstanding any other provision of this Agreement), shall have all the powers granted to the Administrative Trustees and shall discharge all the duties imposed upon the Administrative Trustees by this Trust Agreement. Notwithstanding the foregoing or any other provision of this Trust Agreement, in the event any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holder of Common Securities, incompetent or incapacitated, the vacancy created by such death, incompetence or incapacity may be filled by the unanimous act of the remaining Administrative Trustees if there were at least two of them prior to such vacancy (with the successor in each case being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 1 contract
Samples: Trust Agreement (Keycorp /New/)