Common use of Appointment of Replacement Trustees Clause in Contracts

Appointment of Replacement Trustees. When a Trustee dies, resigns, is removed or reaches the end of his or her term and is not re-appointed, a successor Trustee will be appointed as soon as reasonably possible by the applicable Party. Any such successor Trustee, immediately upon completing and filing with the Recording Secretary an Acceptance of Trust in the form of Schedule "H", is vested with all the property, rights, powers and duties of a Trustee hereunder from that date forward as if originally named as a Trustee;

Appointment of Replacement Trustees. When a Trustee dies, resigns, is removed or reaches the end of his or her term and is not re-appointed, a successor Trustee will be immediately appointed as soon as reasonably possible by the applicable Party. Any such successor Trustee, immediately upon completing and filing with the Recording Secretary an Acceptance of Trust in the form of Schedule "HD", is vested with all the property, rights, powers and duties of a Trustee hereunder from that date forward as if originally named as a Trustee;.

Appointment of Replacement Trustees. When a Trustee dies, resigns, is removed or reaches the end of his or her term and is not re-appointed, a successor Trustee will be appointed as soon as reasonably possible by the applicable Party. Any such successor Trustee, immediately upon completing and filing with the Recording Secretary an Acceptance of Trust in the form of Schedule "H"D, is vested with all the property, rights, powers and duties of a Trustee hereunder from that date forward as if originally named as a Trustee;.