Common use of Appointment of Successor Collateral Trustee Clause in Contracts

Appointment of Successor Collateral Trustee. If at any time the Collateral Trustee shall resign, fail to qualify to act as Collateral Trustee or otherwise become incapable of acting, or if at any time a vacancy shall occur in the office of Collateral Trustee for any other cause, a successor collateral trustee or collateral trustees may be appointed by the Mortgage Bond Trustee (with such successor to be chosen in consultation with, and reasonably satisfactory to, the Company, so long as no Event of Default has occurred and is continuing), and the powers, duties, authority and title of the predecessor collateral trustee or collateral trustees terminated and canceled without procuring the resignation of such predecessor collateral trustee or collateral trustees, and without any other formality (except as may be required by applicable law) other than appointment and designation of a successor collateral trustee or collateral trustees in writing, duly acknowledged, delivered to the predecessor collateral trustee or collateral trustees and each of the Debt Trustees, and filed for record in each public office, if any, in which this Agreement is required to be filed.

Appointment of Successor Collateral Trustee. If at any time the Collateral Trustee shall resign, fail to qualify to act as Collateral Trustee resign or otherwise become incapable of acting, or if at any time a vacancy shall occur in the office of Collateral Trustee for any other cause, a successor collateral trustee or collateral trustees trustees, reasonably acceptable to the Indenture Trustees and the Collateral Agent (determined after consultation with the Company) and, with respect to any Indenture Trustee, if no objection has been received from such Indenture Trustee within 10 days of such proposal, such Indenture Trustee shall have been deemed to have approved such collateral trustee or collateral trustees, may be appointed by the Mortgage Bond Trustee (with such successor to be chosen in consultation with, and reasonably satisfactory toAdministrative Agents, the Company, so long as no Event of Default has occurred Co-gen Agent and is continuing)the Collateral Agent, and the powers, duties, authority and title of the predecessor collateral trustee or collateral trustees terminated and canceled without procuring the resignation of such predecessor collateral trustee or collateral trustees, and without any other formality (except as may be required by applicable law) other than appointment and designation of a successor collateral trustee or collateral trustees in writing, duly acknowledged, delivered to the predecessor collateral trustee or collateral trustees and each of the Debt Trusteestrustees, and filed for record in each public office, if any, in which this Agreement is required to be filed.

Appointment of Successor Collateral Trustee. If at any time the Collateral Trustee shall resign, fail to qualify to act as Collateral Trustee resign or otherwise become incapable of acting, or if at any time a vacancy shall occur in the office of Collateral Trustee for any other cause, a successor collateral trustee or collateral trustees determined after consultation with the Company may be appointed by the Mortgage Bond Trustee (with such successor to be chosen in consultation with, and reasonably satisfactory to, the Company, so long as no Event of Default has occurred and is continuing)Second Lien Term Loan Administrative Agent, and the powers, duties, authority and title of the predecessor collateral trustee or collateral trustees terminated and canceled without procuring the resignation of such predecessor collateral trustee or collateral trustees, and without any other formality (except as may be required by applicable law) other than appointment and designation of a successor collateral trustee or collateral trustees in writing, duly acknowledged, delivered to the predecessor collateral trustee or collateral trustees and each of the Debt Trusteestrustees, and filed for record in each public office, if any, in which this Agreement is required to be filed. The Company shall promptly notify the Indenture Trustee of any successor Collateral Trustee.