Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxxx X. Xxxxxxx, an individual, and Xxxx X. Xxxxxxxx, an individual, and their successors shall be appointed by the Holders of a majority in Liquidation Amount of the Common Securities and may resign or be removed by the 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. 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 Trustees. (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 8.18, the Administrative Trustees in office, regardless of their number (and 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the 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, 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 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 Xxxxxxx X. XxxxxxxK. B. Marsh, an individual, M. R. Cannon, an individual, and Xxxx X. XxxxxxxxH. T. Arthur, an individual, and their successors shall be appointed xx xppointed by the Holders of a majority Hxxxxxx xx x Majority in Liquidation Amount of Liquidatixx Xxxxxx xx the Common Securities and may resign or may be removed by the Holders of a majority 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders of a majority in Liquidation Amount the 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, 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 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 Xxxxxxx X. XxxxxxxJohn W. Tietjen, an individual, and Xxxx X. XxxxxxxxJohn C. Millman, an individual, and their successors anx xxxxx xxxxxxxors shall be appointed by the Holders appointex xx xxx Xxxxxx of a majority Majority in Liquidation Amount of the Common Securities Securities, and may resign or be removed by the Holders of a majority Majority in Liquidation Amount of the Common Securities at any time. Upon any resignation or removal, the Depositor shall appoint 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and not withstanding 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders Holder of a majority 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, 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 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 Xxxx X. Xxxxx, an individual, Xxxxxxx X. XxxxxxxXxxxx, an individual, and Xxxx Xxxxxx X. XxxxxxxxXxxxx, an individual, and their successors shall be appointed by the Holders of a majority in Liquidation Amount Preference of the Common Securities and may resign or be removed by the Holders of a majority in Liquidation Amount Preference of the Common Securities at any time. Upon any resignation or removal, the Depositor shall appoint 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 Trustees.
(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 8.18, the Administrative Trustees in office, regardless of their number (and 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders of a majority in Liquidation Amount Preference 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, 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 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 Xxxxxxx X. Xxxxxxx, an individual, and Xxxx Xxxxx X. Xxxxxxxx, an individual, and their successors shall be appointed by the Holders of a majority Majority in Liquidation Amount of the Common Securities and may resign or be may be removed by the Holders of a majority 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders of a majority in Liquidation Amount the 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, 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 being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 1 contract
Samples: Trust Agreement (Popular Inc)
Appointment of Administrative Trustees. (a) The Administrative Trustees Trustee shall initially be Xxxxxxx X. XxxxxxxXxxxxxxxx, an individual, III and Xxxx Xxxxxx X. Xxxxxxxx, an individualXxxxx, and their successors shall be appointed by the Holders Holder of a majority in Liquidation Amount of all the Common Securities and Securities. The Administrative Trustees may resign or be removed by the Holders Holder of a majority in Liquidation Amount of all the Common Securities at any time. Upon any resignation or removalremoval of an Administrative Trustee, the Depositor shall appoint 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and not withstanding 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders Holder of a majority in Liquidation Amount 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, 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 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 Xxxxxxx Xxxx X. XxxxxxxXxxxxx, an individual, and Xxxx X. XxxxxxxxD. Xxxxx Xxxxx, an individual, and their successors shall be appointed by the Holders of a majority Majority in Liquidation Amount of the Common Securities Securities, and they may resign or be removed by the Holders of a majority Majority in Liquidation Amount of the Common Securities at any time. Upon any resignation or removal, the Depositor 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and not withstanding 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders of a majority in Liquidation Amount the 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, 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 being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 1 contract
Samples: Trust Agreement (Dime Bancorp Inc)
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxxx K. B. Xxxxx, an individual, X. XxxxxxxX. Xxxxxx, an individual, and Xxxx X. XxxxxxxxX. Xxxxxx, an individual, and their successors shall be appointed by the Holders of a majority Majority in Liquidation Amount of the Common Securities and may resign or may be removed by the Holders of a majority 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders of a majority in Liquidation Amount the 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, 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 being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 1 contract
Samples: Trust Agreement (Scana Corp)
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxxx K. B. Xxxxx, an individual, X. XxxxxxxX. Xxxxxx, an individual, and Xxxx X. XxxxxxxxX. Xxxxxx, an individual, and their successors shall be appointed by the Holders of a majority Majority in Liquidation Amount of the Common Securities and may resign or be may be removed by the Holders of a majority 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders of a majority in Liquidation Amount the 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, 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 being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 1 contract
Samples: Trust Agreement (Sce&g Trust I)
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxxx X. XxxxxxxJohn A. Park, III, an individual, and Xxxx X. XxxxxxxxRobert E. Keilman, an individualindivixxxx, and xnd their successors shall be appointed by the Holders apxxxxxxx xx xxx Xxlder of a majority Majority in Liquidation Amount of the Common Securities and may resign or be may be removed by the Holders of a majority Majority in Liquidation Amount of the Common Securities at any time. Upon any resignation or removal, the Depositor shall appoint 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and not withstanding 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders Holder of a majority 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, 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 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 Xxxxxxx Xxxx X. XxxxxxxXxxxxx, an individual, and Xxxx X. Xxxxxxxx[_______________], an individual, and their successors shall be appointed by the Holders of a majority Majority in Liquidation Amount of the Common Securities Securities, and they may resign or be removed by the Holders of a majority Majority in Liquidation Amount of the Common Securities at any time. Upon any resignation or removal, the Depositor 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and not withstanding 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders of a majority in Liquidation Amount the 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, 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 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 Xxxxxxx X. XxxxxxxXxxx-Xxxxxx, an individual, Xxxxxxx X. Xxxxxxxxx, an individual and Xxxx Xxxxx X. XxxxxxxxXxXxxxx, an individual, and their successors shall be appointed by the Holders of a majority in Liquidation Amount of the Common Securities and Securities. Any Administrative Trustee may resign or be removed by the 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. 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 Trustees.
(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 8.188.18 or Section 8.09, the Administrative Trustees in office, regardless of their number (and 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders of a majority in Liquidation Amount of 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, 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 being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.78.07).
Appears in 1 contract
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxxx Xxxxx X. Xxxxxxx, an individual, Xxxxxx X. Xxxxxxx, an individual, and Xxxx Xxxxxxxxxxx X. XxxxxxxxXxxxxx, an individual, and their successors shall be appointed by the Holders of a majority Majority in Liquidation Amount of the Common Securities Securities, and they may resign or be removed by the Holders of a majority Majority in Liquidation Amount of the Common Securities at any time. Upon any resignation or removal, the Depositor 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 Declaration 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and not withstanding 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 AgreementDeclaration of Trust.
(c) Notwithstanding the foregoing or any other provision of this Trust AgreementDeclaration of Trust, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders of a majority in Liquidation Amount the Common SecuritiesSponsor, 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, if there were at least two of them prior to such vacancy, and by the DepositorSponsor, if there were not two such Administrative Trustees immediately prior to such vacancy (with the successor 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 Xxxxxxx X. Xxxxxxx[_______________], an individual, and Xxxx X. Xxxxxxxx[_________________], an individual, and their successors shall be appointed by the Holders of a majority in Liquidation Amount of the Common Securities and may resign or be removed by the 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. 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 Trustees.
(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 8.18, the Administrative Trustees in office, regardless of their number (and 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 AgreementDeclaration of Trust.
(c) Notwithstanding the foregoing or any other provision of this Trust AgreementDeclaration of Trust, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the 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, 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 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 Xxxxxxx X. XxxxxxxJorge A. Junquera, an individual, and Xxxx X. XxxxxxxxRichard Barrios, an individual, and their successors xxx xxxxx xxxxxxsors shall be appointed by the Holders appointxx xx xxx Xxxxxrs of a majority Majority in Liquidation Amount of the Common Securities and may resign or be removed by the Holders of a majority 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders of a majority in Liquidation Amount the 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 TrusteesTrustee, 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 being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 1 contract
Samples: Trust Agreement (Popular North America Capital Trust I)
Appointment of Administrative Trustees. (a) The Administrative Trustees Trustee shall initially be Xxxxxxx Xxxxx X. XxxxxxxXxxxxxxx and Xxxxxx X. Xxxxx, an individual, and Xxxx X. Xxxxxxxx, an individualXx., and their successors shall be appointed by the Holders Holder of a majority in Liquidation Amount of all the Common Securities and Securities. The Administrative Trustees may resign or be removed by the Holders Holder of a majority in Liquidation Amount of all the Common Securities at any time. Upon any resignation or removalremoval of an Administrative Trustee, the Depositor shall appoint 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and not withstanding 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders Holder of a majority in Liquidation Amount 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, 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 being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 1 contract
Samples: Trust Agreement (Centura Banks Inc)
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxxx Xxxx X. XxxxxxxPark, III, an individual, and Xxxx Xxxxxx X. XxxxxxxxXxxxxxx, an individual, and their successors shall be appointed by the Holders Holder of a majority Majority in Liquidation Amount of the Common Securities and may resign or be may be removed by the Holders of a majority Majority in Liquidation Amount of the Common Securities at any time. Upon any resignation or removal, the Depositor shall appoint 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and not withstanding 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders Holder of a majority 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, 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 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 Xxxxxxx K. B. Xxxxx, an individual, X. XxxxxxxX. Xxxxxx, an individual, and Xxxx X. XxxxxxxxX. Xxxxxx, an individual, and their successors shall be appointed by the Holders of a majority Majority in Liquidation Amount of the Common Securities and may resign or may be removed by the Holders of a majority 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders of a majority in Liquidation Amount the 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, 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 being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).. 263
Appears in 1 contract
Samples: Trust Agreement (Scana Corp)
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxxx X. XxxxxxxSaul L. Basch, an individualRoberta O'Brien and Robert C. Walker, and Xxxx X. Xxxxxxxx, an individual, and their successors shall be appointed thexx xxxxxxxxxx shxxx xx xxxxxxxxd by the Holders of a majority in Liquidation Amount of xxx Xxxxxx xx xxl the Common Securities and Securities. The Administrative Trustees may resign or be removed by the Holders Holder of a majority in Liquidation Amount of all the Common Securities at any time. Upon any resignation or removalremoval of an Administrative Trustee, the Depositor shall appoint 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and not withstanding 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders Holder of a majority in Liquidation Amount 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, 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 being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 1 contract
Samples: Trust Agreement (HSB Group Inc)
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxxx X. Xxxxxxx________________, an individual, and Xxxx X. Xxxxxxxx___________________, an individual, and their successors shall be appointed by the Holders of a majority Majority in Liquidation Amount of the Common Securities Securities, and they may resign or be removed by the Holders of a majority Majority in Liquidation Amount of the Common Securities at any time. Upon any resignation or removal, the Depositor 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and not withstanding 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders of a majority in Liquidation Amount the 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, 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 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 Xxxxxxx Xxxx X. XxxxxxxPark, III, an individual, and Xxxx Xxxxxx X. XxxxxxxxXxxxxx, an individual, and their successors shall be appointed by the Holders Holder of a majority Majority in Liquidation Amount of the Common Securities Securities, and may resign or be removed by the Holders of a majority Majority in Liquidation Amount of the Common Securities at any time. Upon any resignation or removal, the Depositor shall appoint 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and not withstanding 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders Holder of a majority 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, 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 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 Xxxxxxx Jxxx X. XxxxxxxPark, III, an individual, and Xxxx Txxxxx X. XxxxxxxxXxxxxx, an individual, and their successors shall be appointed by the Holders Holder of a majority Majority in Liquidation Amount of the Common Securities Securities, and may resign or be removed by the Holders of a majority Majority in Liquidation Amount of the Common Securities at any time. Upon any resignation or removal, the Depositor shall appoint 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and not withstanding 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders Holder of a majority 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, 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 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 Trustee shall initially be Xxxxxxx X. XxxxxxxW. Fxxxx Xxxley and Young J. Bxxxxx, an individual, and Xxxx X. Xxxxxxxx, an individualXXI, and their successors shall be appointed by the Holders Holder of a majority in Liquidation Amount of all the Common Securities and Securities. The Administrative Trustees may resign or be removed by the Holders Holder of a majority in Liquidation Amount of all the Common Securities at any time. Upon any resignation or removalremoval of an Administrative Trustee, the Depositor shall appoint 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and not withstanding 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders Holder of a majority in Liquidation Amount 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, 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 being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).. -57- 63 ARTICLE IX
Appears in 1 contract
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxxx Paul X. Xxxxxxxx, xx individual, and Randxxxx X. Xxxxxxx, an individual, and Xxxx X. Xxxxxxxx, an xx individual, and their successors shall be appointed by the Holders of a majority Majority in Liquidation Amount of the Common Securities Securities, and they may resign or be removed by the Holders of a majority Majority in Liquidation Amount of the Common Securities at any time. Upon any resignation or removal, the Depositor 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and not withstanding 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders of a majority in Liquidation Amount the 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, 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 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 Xxxxxxx X. Xxxxxxx, an individual, and Xxxx X. Xxxxxxxx, an individualXxxxx and Xxxxxx X. Xxxxxxxxxx, and their successors shall be appointed by the Holders Holder of a majority in Liquidation Amount of all the Common Securities and Securities. The Administrative Trustees may resign or be removed by the Holders Holder of a majority in Liquidation Amount of all the Common Securities at any time. Upon any resignation or removalremoval of an Administrative Trustee, the Depositor shall appoint 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and not withstanding 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.
(c) Notwithstanding the foregoing or any other provision of this Trust Agreement, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders Holder of a majority in Liquidation Amount 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, 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 being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 1 contract
Samples: Trust Agreement (Bt Capital Trust B)
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxxx X. Xxxxxxx_________________, an individual, and Xxxx X. Xxxxxxxx__________________, an individual, and their successors shall be appointed by the Holders of a majority Majority in Liquidation Amount of the Common Securities Securities, and they may resign or be removed by the Holders of a majority 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 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders of a majority 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 acts of the remaining Administrative 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 being a Person who satisfies the eligibility requirement for Administrative Trustees set forth in Section 8.7).
Appears in 1 contract
Samples: Trust Agreement (Compass Trust Ii)
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxxx X. Xxxxxxx, an individual, and Xxxx X. Xxxxxxxx, an individual, and their successors shall be appointed by the Holders of a majority in Liquidation Amount of the Common Securities Securities, and they may resign or be removed by the 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. 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 Trustees.
(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 8.18, the Administrative Trustees in office, regardless of their number (and 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 AgreementDeclaration of Trust.
(c) Notwithstanding the foregoing or any other provision of this Trust AgreementDeclaration of Trust, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the 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, 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 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 Xxxxxxx Jorgx X. XxxxxxxXxxxxxxx, an xx individual, Robexxx X. Xxxxxxxx, xx individual, Javixx X. Xxxxxx, xx individual, and Xxxx X. XxxxxxxxAlbexxx Xxxxxxxxxx, an xx individual, and their successors shall be appointed by the Holders of a majority Majority in Liquidation Amount of the Common Securities and may resign or be may be removed by the Holders of a majority 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders of a majority in Liquidation Amount the 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, 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 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 Trust Ii)
Appointment of Administrative Trustees. (a) The Administrative Trustees shall initially be Xxxxxxx Michxxx X. XxxxxxxXxxxxxxx, an xx individual, Normxx X. Xxxxxxxxx, xx individual, and Xxxx Stevxx X. Xxxxxxxx, an xx individual, and their successors shall be appointed by the Holders of a majority Majority in Liquidation Amount of the Trust Common Securities and may resign or be may be removed by the Holders of a majority Majority in Liquidation Amount of the Trust 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 Trustees.
(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 8.188.15, the Administrative Trustees in office, regardless of their number (and not withstanding 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.
(c) Notwithstanding the foregoing or any other provision of this Trust Agreement, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders of a majority in Liquidation Amount the 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, 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 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 Xxxxxxx X. Xxxxxxx, an individual, _____________and Xxxx X. Xxxxxxxx, an individual____________, and their successors shall be appointed by the Holders Holder of a majority in Liquidation Amount of all the Common Securities and Securities. The Administrative Trustees may resign or be removed by the Holders Holder of a majority in Liquidation Amount of all the Common Securities at any time. Upon any resignation or removalremoval of an Administrative Trustee, the Depositor shall appoint 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and not withstanding 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders Holder of a majority in Liquidation Amount 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, 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 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 Xxxxxxx Xxxx X. XxxxxxxPark, III, an individual, and Xxxx Xxxxxx X. XxxxxxxxXxxxxxx, an and individual, and their successors shall be appointed by the Holders of a majority Majority in Liquidation Amount of the Common Securities and may resign or be may be removed by the Holders of a majority 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 Trustees.
(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 8.188.20, the Administrative Trustees in office, regardless of their number (and 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, if any Administrative Trustee who is a natural person dies or becomes, in the opinion of the Holders of a majority 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 acts of the remaining Administrative 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 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 V)