Common use of Appointment of Successor Collateral Trustee Clause in Contracts

Appointment of Successor Collateral Trustee. Upon any such resignation or removal, a successor Collateral Trustee may be appointed by an Act of Required Secured Parties (with the consent of Parent, such consent not to be unreasonably withheld or delayed); provided that no such consent shall be required upon the occurrence of a Secured Debt Default. If no successor Collateral Trustee has been so appointed and accepted such appointment within 30 days after the predecessor Collateral Trustee gave notice of resignation or was removed, the retiring Collateral Trustee may (at the expense of Parent), at its option, appoint a successor Collateral Trustee, or petition a court of competent jurisdiction for appointment of a successor Collateral Trustee, which must be a bank or trust company: (1) authorized to exercise corporate trust powers; (2) having a combined capital and surplus of at least $500,000,000; (3) maintaining an office in New York, New York; (4) reasonably satisfactory to Parent. The Collateral Trustee will fulfill its obligations hereunder until a successor Collateral Trustee meeting the requirements of this Section 6.2 has accepted its appointment as Collateral Trustee and the provisions of Section 6.3 have been satisfied.

Appointment of Successor Collateral Trustee. Upon any such resignation or removalresignation, a successor Collateral Trustee may be appointed by an Act of Required Secured Parties (with the consent of Parent, such consent not to be unreasonably withheld or delayed)Debtholders; provided that no such consent shall any successor Collateral Trustee replacing Wilmington Trust may be required upon appointed by the occurrence of a Secured Debt DefaultAdministrative Agent and the Company. If no successor Collateral Trustee has been so appointed and accepted such appointment within 30 days after the predecessor Collateral Trustee gave notice of resignation or was removed, the retiring Collateral Trustee may (at the expense of Parentthe Company), at its option, appoint a successor Collateral Trustee, or petition a court of competent jurisdiction for appointment of a successor Collateral Trustee, which must be a bank or trust company: (1) authorized to exercise corporate trust agency powers; (2) having a combined capital and surplus of at least $500,000,000;; and (3) maintaining an office in New York, New York; (4) reasonably satisfactory to Parent. The Collateral Trustee will fulfill its obligations hereunder until a successor Collateral Trustee meeting the requirements of this Section 6.2 has accepted its appointment as Collateral Trustee and the provisions of Section 6.3 have been satisfied.

Appointment of Successor Collateral Trustee. Upon any such resignation or removal, a successor Collateral Trustee may be appointed by the Company; provided, however, that if the Collateral Trustee is removed pursuant to Section 6.1(b), a successor Collateral Trustee may be appointed by an Act of Required Secured Parties Debtholders (with and not by the consent of Parent, such consent not to be unreasonably withheld or delayedCompany); provided that no such consent shall be required upon the occurrence of a Secured Debt Default. If no successor Collateral Trustee has been so appointed and accepted such appointment within 30 days after the predecessor Collateral Trustee gave notice of resignation or was removed, the retiring Collateral Trustee may (at the expense of Parentthe Company), at its option, appoint a successor Collateral Trustee, or petition a court of competent jurisdiction for appointment of a successor Collateral Trustee, which must be a bank or trust company: (1) authorized to exercise corporate trust powers; (2) having a combined capital and surplus of at least $500,000,000100,000,000; (3) maintaining an office in New York, New York;; and (4) reasonably satisfactory to Parentthat is not (a) the Company or its Affiliates or (ii) any Secured Debt Representative (other than any agent, collateral agent, collateral trustee or other representative of lenders or holders of Term Credit Obligations so long as the Term Credit Obligations are the only Priority Lien Obligations or Subordinated Lien Obligations outstanding (other than Hedging Obligations)). The Collateral Trustee will fulfill its obligations hereunder until a successor Collateral Trustee meeting the requirements of this Section 6.2 has accepted its appointment as Collateral Trustee and the provisions of Section 6.3 have been satisfied.

Appointment of Successor Collateral Trustee. Upon any such resignation or removal, a successor Collateral Trustee may be appointed by an Act of Required First Lien Debtholders; provided that, so long as no Secured Parties (with the consent of ParentDebt Default has occurred and is continuing, such consent not to be unreasonably withheld or delayed); provided that no such consent successor Collateral Trustee shall be required upon reasonably acceptable to the occurrence of a Secured Debt DefaultCompany. If no successor Collateral Trustee has been so appointed and accepted such appointment within 30 10 days after the predecessor Collateral Trustee gave notice of resignation or was removed, the retiring Collateral Trustee may (at the expense of Parentthe Company), at its option, appoint a successor Collateral TrusteeTrustee reasonably acceptable to the Company (but only if no Secured Debt Default has occurred and is continuing), or petition a court of competent jurisdiction for appointment of a any such successor Collateral Trustee, which must be a bank or trust company: (1) authorized to exercise corporate trust agency powers; (2) having a combined capital and surplus of at least $500,000,000;100,000,000; and (3) maintaining an office in New York, New York; (4) reasonably satisfactory to Parent. The Collateral Trustee will fulfill its obligations hereunder until a successor Collateral Trustee meeting the requirements of this Section 6.2 7.2 has accepted its appointment as Collateral Trustee and the provisions of Section 6.3 7.3 have been satisfied.

Appointment of Successor Collateral Trustee. Upon any such resignation or removal, a successor Collateral Trustee may be appointed by an Act the Controlling Priority Debt Representative (if the Controlling Priority Debt Representative is the Original Term Loan Agent, acting at the written direction of the Required Secured Parties (with Term Loan Lenders). The Collateral Trustee will fulfill its obligations under this Agreement until a successor Collateral Trustee meeting the consent requirements of Parent, such consent not to be unreasonably withheld or delayed); provided that no such consent shall be required upon this Section 3.23 has accepted its appointment as Collateral Trustee and the occurrence provisions of a Secured Debt DefaultSection 3.24 have been satisfied. If no successor Collateral Trustee has been so appointed and accepted such appointment within 30 days after the predecessor Collateral Trustee gave notice of resignation or was removed, the retiring Collateral Trustee may (at the expense of Parentthe Borrower), at its option, appoint a successor Collateral Trustee, or petition a court of competent jurisdiction for appointment of a successor Collateral Trustee, which must be a bank or trust company: (1a) authorized to exercise corporate trust powers; (2b) having a combined capital and surplus of at least $500,000,000250,000,000; (3c) maintaining an office in New York, New York;; and (4d) reasonably satisfactory to Parent. The Collateral Trustee will fulfill that is not the Borrower or any of its obligations hereunder until a successor Collateral Trustee meeting the requirements of this Section 6.2 has accepted its appointment as Collateral Trustee and the provisions of Section 6.3 have been satisfiedAffiliates.

Appointment of Successor Collateral Trustee. (a) Upon any such resignation or removalremoval of the Collateral Trustee pursuant to Section 6.1, a successor Collateral Trustee may be appointed by an Act of Required Debtholders, subject to, so long as no Secured Parties (with Debt Default has occurred or is continuing, the consent of Parent, such consent the Company (which may not to be unreasonably withheld or delayed); provided that no such consent shall be required upon the occurrence of a Secured Debt Default. If no successor Collateral Trustee has been so appointed and accepted such appointment within 30 45 days after the predecessor Collateral Trustee gave notice of resignation or was removed, the retiring Collateral Trustee may (at the expense of Parentthe Company), at its option, appoint a successor Collateral Trustee, or petition a court of competent jurisdiction for appointment of a successor Collateral Trustee, which must be a bank or trust company: (1) authorized to exercise corporate trust powers; (2) having a combined capital and surplus of at least $500,000,000;100,000,000; and (3) maintaining an office in New York, New York;. (4b) reasonably satisfactory to Parent. The Collateral Trustee will fulfill its obligations hereunder until a successor Collateral Trustee meeting the requirements of this Section 6.2 has accepted its appointment as Collateral Trustee and the provisions of Section 6.3 have been satisfied.

Appointment of Successor Collateral Trustee. Upon any such resignation or removal, a successor Collateral Trustee may be appointed by an Act of Required Secured Parties (with the consent of Parent, such consent not to be unreasonably withheld or delayed); provided that no such consent shall be required upon the occurrence of a Secured Debt DefaultDebtholders. If no successor Collateral Trustee has been so appointed and accepted such appointment within 30 days after the predecessor Collateral Trustee gave notice of resignation or was removed, the retiring Collateral Trustee may (at the expense of ParentGXS), at its option, appoint a successor Collateral Trustee (or, in the event the retiring Collateral Trustee chooses not to appoint, GXS will appoint a successor Collateral Trustee), or petition a court of competent jurisdiction for appointment of a successor Collateral Trustee, which must be a bank or trust company: (1) authorized to exercise corporate trust powers; (2) having a combined capital and surplus of at least $500,000,000; (3) maintaining an office in New York, New York; (4) reasonably satisfactory to Parentthat is not a Secured Debt Representative ; (5) that is not an Affiliate of GXS or a Guarantor. The Collateral Trustee will fulfill its obligations hereunder until a successor Collateral Trustee meeting the requirements of this Section 6.2 has accepted its appointment as Collateral Trustee and the provisions of Section 6.3 have been satisfied.

Appointment of Successor Collateral Trustee. Upon any such resignation or removal, a successor Collateral Trustee may be appointed by an Act of Required Secured Parties (with Collateral Trust Holders subject to the consent of Parent, such consent the Borrower (not to be unreasonably withheld or delayed); provided that no such consent shall be required upon the occurrence of a Secured Debt Default. If no successor Collateral Trustee has been so appointed and accepted such appointment within 30 days after the predecessor Collateral Trustee gave notice of resignation or was removed, the retiring Collateral Trustee may (at the expense of Parentthe Borrower), at its option, appoint a successor Collateral Trustee, or petition a court of competent jurisdiction for appointment of a successor Collateral Trustee, which must be a bank or trust company: (1) authorized to exercise corporate trust powers; (2) having a combined capital and surplus of at least $500,000,000100,000,000; (3) that is not the Borrower or an Affiliate of the Borrower; (4) maintaining an office in New York, New York;; and (45) reasonably satisfactory to Parent. that complies with Section 3.1(d). (6) The Collateral Trustee will fulfill its obligations hereunder until a successor Collateral Trustee meeting the requirements of this Section 6.2 has accepted its appointment as Collateral Trustee and the provisions of Section 6.3 have been satisfied. The retiring Collateral Trustee shall have no responsibility or liability for any action or inaction of a successor Collateral Trustee.

Appointment of Successor Collateral Trustee. Upon any such resignation or removal, a successor Collateral Trustee may be appointed by an Act of Required Secured Parties (with the consent of Parentthe Issuer, such consent not to be unreasonably withheld or delayed); provided that no such consent shall be required upon the occurrence of a Secured Debt Default. If no successor Collateral Trustee has been so appointed and accepted such appointment within 30 days after the predecessor Collateral Trustee gave notice of resignation or was removed, the retiring Collateral Trustee may (at the expense of Parentthe Issuer), at its option, appoint a successor Collateral Trustee, or petition a court of competent jurisdiction for appointment of a successor Collateral Trustee, which must be a bank or trust company: (1) authorized to exercise corporate trust powers; (2) having a combined capital and surplus of at least $500,000,000; (3) maintaining an office in New York, New York; (4) reasonably satisfactory to Parentthe Issuer. The Collateral Trustee will fulfill its obligations hereunder until a successor Collateral Trustee meeting the requirements of this Section 6.2 has accepted its appointment as Collateral Trustee and the provisions of Section 6.3 have been satisfied.

Appointment of Successor Collateral Trustee. Upon any such resignation or removal, a successor Collateral Trustee may be appointed by an Act of Required Secured Parties Debtholders (with which Collateral Trustee shall be reasonably satisfactory to the Borrower, whose consent of Parent, such consent shall not to be unreasonably withheld or delayedwithheld); provided that no such consent shall be required upon the occurrence of a Secured Debt Default. If no successor Collateral Trustee has been so appointed and accepted such appointment within 30 days after the predecessor Collateral Trustee gave notice of resignation or was removed, the retiring Collateral Trustee may (at the expense of Parentthe Borrower), at its option, appoint a successor Collateral Trustee, or petition a court of competent jurisdiction for appointment of a successor Collateral Trustee, which must be a bank or trust company: (1) authorized to exercise corporate trust powers; (2) having a combined capital and surplus of at least $500,000,000; (3) maintaining an office in New York, New York;; and (4) reasonably satisfactory to Parentthat is not a Secured Debt Representative, the Borrower or an Affiliate of the Borrower. The Collateral Trustee will fulfill its obligations hereunder until a successor Collateral Trustee meeting the requirements of this Section 6.2 has accepted its appointment as Collateral Trustee and the provisions of Section 6.3 have been satisfied.

Appointment of Successor Collateral Trustee. Upon any such resignation or removal, a successor Collateral Trustee may be appointed by an Act of Required Secured Parties (with the consent of Parentthe Company, such consent not to be unreasonably withheld or delayed); provided that no such consent shall be required upon the occurrence of a Secured Debt Default. If no successor Collateral Trustee has been so appointed and accepted such appointment within 30 days after the predecessor Collateral Trustee gave notice of resignation or was removed, the retiring Collateral Trustee may (at the expense of Parentthe Company), at its option, appoint a successor Collateral Trustee, or petition a court of competent jurisdiction for appointment of a successor Collateral Trustee, which must be a bank or trust company: (1) authorized to exercise corporate trust powers; (2) having a combined capital and surplus of at least $500,000,000; (3) maintaining an office in New York, New York;; and (4) reasonably satisfactory to Parentthe Company. The Collateral Trustee will fulfill its obligations hereunder until a successor Collateral Trustee meeting the requirements of this Section 6.2 has accepted its appointment as Collateral Trustee and the provisions of Section 6.3 have been satisfied.