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 Debtholders. 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 Issuers), 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 $100,000,000; (3) maintaining an office in New York, New York; and (4) that is not (a) the Issuers or their Affiliates or (ii) any Secured Debt Representative (other than the Trustee serving in the role of the Collateral Trustee to the extent the Notes 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 DebtholdersCreditors. 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 IssuersBorrower), 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 $100,000,000500,000,000; (3) maintaining an office in New York, New York; and (4) that is not (a) the Issuers or their Affiliates or (ii) any a Secured Debt Representative (other than the Trustee serving in the role of the Collateral Trustee to the extent the Notes are the only Priority Lien Obligations or Subordinated Lien Obligations outstanding (other than Hedging Obligations))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 an Act of Required Debtholders. 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 IssuersIssuer), 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 $100,000,000; (3) maintaining an office in New York, New York; and (4) that is not (a) the Issuers Issuer or their any of its Affiliates or (iib) any Secured Debt Representative (other than the Trustee serving in the role of the Collateral Trustee to the extent the Notes 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 Debtholders, in consultation with the Issuers. 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 Issuers), 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 $100,000,000;500,000,000; and (3) maintaining an office in New York, New York; and (4) that is not (a) the Issuers or their Affiliates or (ii) any Secured Debt Representative (other than the Trustee serving in the role of the Collateral Trustee to the extent the Notes 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. The fees payable by the Issuers to any replacement or successor Collateral Trustee shall be no more than the fees payable to the predecessor Collateral Trustee unless otherwise agreed to by the Issuers and such replacement or 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 DebtholdersPari Passu Lien 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 IssuersBorrower), at its option, appoint a successor Collateral TrusteeTrustee , or petition a court of competent jurisdiction for appointment of a successor Collateral TrusteeTrustee , 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 $100,000,000; (3) maintaining an office in New York, New York; and (4c) that is not (a) the Issuers Borrower or their Affiliates or (ii) any Secured Debt Representative (other than the Trustee serving in the role an Affiliate of the Collateral Trustee to the extent the Notes are the only Priority Lien Obligations or Subordinated Lien Obligations outstanding (other than Hedging Obligations))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.