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 the Company with the prior consent of the Controlling Priority Lien Representative and the First-Out Representative or by the Controlling Priority Lien Representative with the prior consent of the Company and the First-Out Representative. 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 the 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: (a) authorized to exercise corporate trust powers; (b) having a combined capital and surplus of at least $100,000,000; and (c) that is not the Company or any of its Affiliates or any Priority Lien Representative. 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 with the prior consent an Act of the Controlling Priority Parity Lien Representative and the First-Out Representative or by the Controlling Priority Lien Representative with the prior consent of the Company and the First-Out RepresentativeDebtholders. 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 the 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: (a1) authorized to exercise corporate trust powers; (b2) having a combined capital and surplus of at least $100,000,000; and (c3) that is not the Company or any of its Affiliates Affiliates. For the avoidance of doubt, if at the time of any such resignation or any Priority removal, the Notes are the only Parity Lien RepresentativeDebt outstanding at such time, the applicable provisions of the Second Lien Indenture governing the appointment of a successor Collateral Trustee shall control and not this Section 6.2. 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, subject to the Company with the prior consent of the Controlling Priority Lien Representative Borrower (such consent not to be unreasonably withheld, conditioned or delayed) so long as no default or event of default has occurred and the First-Out Representative or by the Controlling Priority Lien Representative with the prior consent of the Company and the First-Out Representativeis then continuing under any Secured Debt Document. 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 the CompanyBorrower), 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: (a1) authorized to exercise corporate trust powers; (b2) having a combined capital and surplus of at least $100,000,000; and (c3) that is not a Secured Debt Representative, the Company Borrower or any an Affiliate of its Affiliates or any Priority Lien Representativethe 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 the Company with the prior consent an Act of the Controlling Priority Lien Representative and the First-Out Representative or by the Controlling Priority Lien Representative with the prior consent of the Company and the First-Out RepresentativeRequired Secured Parties. 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 the CompanyBorrower), 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: (ai) authorized to exercise corporate trust powers; (bii) having a combined capital and surplus of at least $100,000,000500,000,000; (iii) maintaining an office in New York, New York; and (civ) that is not a Secured Debt Representative, the Company Borrower or any an Affiliate of its Affiliates or any Priority Lien Representativethe Borrower. The Other than as contemplated in Section 5.14, the Collateral Trustee will fulfill its obligations hereunder until a successor Collateral Trustee meeting the requirements of this Section 6.2 6.02 has accepted its appointment as Collateral Trustee and the provisions of Section 6.3 6.03 have been satisfied.

Appointment of Successor Collateral Trustee. Upon any such resignation or removal, a successor Collateral Trustee may be appointed by the Company with the prior consent an Act of the Controlling Priority Required Parity Lien Representative and the First-Out Representative or by the Controlling Priority Lien Representative with the prior consent of the Company and the First-Out RepresentativeDebtholders. 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 the Company), at its option, Company shall appoint a successor Collateral Trustee. If such appointment has not been made within such 30 day period, or Company and/or the Collateral Trustee may petition a court of competent jurisdiction for appointment of a successor Collateral Trustee, which . Each successor Collateral Trustee must be a bank or trust company: (a1) authorized to exercise corporate trust powers; (b2) having a combined capital and surplus of at least $100,000,000; and (c3) that is not the (i) Company or any of its Affiliates or (ii) any Priority Parity Lien RepresentativeDebt Representative (other than the Trustee serving in the role of the Collateral Trustee to the extent the Notes are the only Parity Lien Obligations outstanding). 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, subject to the Company with the prior consent of the Controlling Priority Issuer (such consent not to be unreasonably withheld, conditioned or delayed) so long as no default or event of default has occurred and is continuing under any Parity Lien Representative and the First-Out Representative or by the Controlling Priority Lien Representative with the prior consent of the Company and the First-Out RepresentativeDocument. 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 the CompanyIssuer), 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: (a1) authorized to exercise corporate trust powers; (b2) having a combined capital and surplus of at least $100,000,000500,000,000; and (c3) that is not the Company Issuer or any an Affiliate of its Affiliates or any Priority Lien Representativethe 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 Parity Lien Debtholders, with, if no Event of Default has occurred and is continuing, the Company with the prior consent of the Controlling Priority Lien Representative and the First-Out Representative Company, which consent shall not be unreasonably withheld, delayed or by the Controlling Priority Lien Representative with the prior consent of the Company and the First-Out Representativeconditioned. 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 the 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: (a1) authorized to exercise corporate trust powers;; and (b2) having a combined capital and surplus of at least $100,000,000; and (c) that is not the Company or any of its Affiliates or any Priority Lien Representative250,000,000. 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.