Common use of Appointment of Successor Trustee Clause in Contracts

Appointment of Successor Trustee. In case at any time the Trustee shall be removed, or be dissolved, or if its property or affairs shall be taken under the control of any state or federal court or administrative body because of insolvency or bankruptcy, or for any other reason, then a vacancy shall forthwith and ipso facto exist in the office of Trustee and a successor may be appointed, and in case at any time the Trustee shall resign, then a successor may be appointed by filing with the Issuer, the Company, the Registrar and the Remarketing Agent an instrument in writing executed by the Owners of not less than a majority in principal amount of Bonds then Outstanding, or (so long as no default or Event of Default is then existing under Section 7.01 of the Agreement or Section 9.01(a), (b) or (c) of this Indenture), executed by the Company. Copies of such instrument shall be promptly delivered by the Issuer to the predecessor Trustee and to the Trustee so appointed. Until a successor Trustee shall be appointed by the Owners or by the Company as herein authorized, the Issuer, by an instrument authorized by the governing body of the Issuer, shall appoint a successor Trustee acceptable to the Company. After any appointment by the Issuer, it shall cause notice of such appointment to be given to the Remarketing Agent and the Registrar and to be given by Mail to all Owners of Bonds. Any new Trustee so appointed by the Issuer shall immediately and without farther act be superseded by a Trustee appointed by the Owners in the manner above provided.

Appointment of Successor Trustee. In case at any time the Trustee hereunder shall resign or be removed, or be dissolved, or if its property shall be in course of dissolution or affairs liquidation, or otherwise become incapable of acting hereunder, or in case the Trustee shall be taken under the control of any state public officer or federal court officers or administrative body because of insolvency or bankruptcya receiver appointed by a court, or for any other reason, then a vacancy shall forthwith and ipso facto exist in the office of Trustee and a successor may shall be appointed, appointed by the Issuer and in case at any time with the Trustee consent of the Company; provided if the Issuer shall resignnot have appointed a successor within ten days after the event giving rise to the need for such appointment, then a successor may be appointed by filing with the Holders of a majority in aggregate principal amount of the Bonds then Outstanding, by an instrument or concurrent instruments in writing delivered to the Issuer, the Company, the Registrar Trustee and the Remarketing Agent an instrument in writing executed successor Trustee, signed by the Owners of not less than a majority in principal amount of Bonds then Outstandingsuch Holders, or (so long as by their duly authorized attorneys in fact. If no default or Event appointment of Default is then existing under Section 7.01 of the Agreement or Section 9.01(a), (b) or (c) of this Indenture), executed by the Company. Copies of such instrument shall be promptly delivered by the Issuer to the predecessor Trustee and to the Trustee so appointed. Until a successor Trustee shall be appointed by made pursuant to the Owners or by the Company as herein authorizedforegoing provisions of this Section, the IssuerHolder of any Bond outstanding hereunder or any retiring Trustee may apply to any court of competent jurisdiction to appoint a successor Trustee. Such court may thereupon, by an instrument authorized by the governing body of the Issuerafter such notice, shall if any, as such court may deem proper and prescribe, appoint a successor Trustee acceptable under this Indenture. Every such Trustee appointed pursuant to the Company. After any appointment by provisions of this Section to succeed the Issuer, it Trustee shall cause notice satisfy the requirements of such appointment to be given to the Remarketing Agent and the Registrar and to be given by Mail to all Owners second paragraph of Bonds. Any new Trustee so appointed by the Issuer shall immediately and without farther act be superseded by a Trustee appointed by the Owners in the manner above providedSection 505 hereof.

Appointment of Successor Trustee. In case at any time (a) If (i) the Trustee shall resign, shall be removed, or shall be dissolved, or if its property or affairs shall become otherwise incapable of acting hereunder, (ii) the Trustee shall be taken under the control of any state public officer or federal court or administrative body because of insolvency or bankruptcy, or for any other reason, then a vacancy shall forthwith and ipso facto exist in the office of Trustee and a successor may be appointed, and in case at any time the Trustee shall resign, then a successor may be appointed by filing with the Issuer, the Company, the Registrar and the Remarketing Agent an instrument in writing executed by the Owners of not less than a majority in principal amount of Bonds then Outstandingofficers, or (so long as no default or Event of Default is then existing under Section 7.01 of the Agreement or Section 9.01(a), (biii) or (c) of this Indenture), executed by the Company. Copies of such instrument a receiver shall be promptly delivered by the Issuer to the predecessor Trustee and to appointed for the Trustee so appointed. Until by a court, then a successor Trustee shall be appointed by the Owners Corporation (with the agreement of the County if there is no Event of Default and no Event of Nonappropriation under the Facilities Agreement); provided, that if a successor Trustee is not so appointed within ten days after (a) a notice of resignation or any instrument or document of removal is received by the Company Corporation as herein authorizedprovided in Sections 6.6 and 6.7 hereof, respectively, or (b) the Trustee is dissolved, taken under control, becomes otherwise incapable of acting or a receiver is appointed, in each case, as provided above, then, so long as the Corporation shall not have appointed a successor Trustee, the Issuer, Holders of a majority in aggregate principal amount of the Outstanding Obligations not paid or provided for may designate a successor Trustee by an instrument authorized or document or concurrent instruments or documents in writing signed by or on behalf of those Holders. If no appointment of a successor Trustee shall be made pursuant to the governing body foregoing provisions of this Section 6.8 within 60 days of the Issueroccurrence of any event listed in Section 6.8(a)(i)-(iii), shall the Holder of any Outstanding Obligation hereunder or any retiring Trustee may apply to any court of competent jurisdiction to appoint a successor Trustee acceptable to the CompanyTrustee. After any appointment by the IssuerSuch court may thereupon, it shall cause notice of after such appointment to be given to the Remarketing Agent notice, if any, as such court may deem proper and the Registrar and to be given by Mail to all Owners of Bonds. Any new Trustee so appointed by the Issuer shall immediately and without farther act be superseded by prescribe, appoint a Trustee appointed by the Owners in the manner above providedsuccessor Trustee.

Appointment of Successor Trustee. In case at any time (a) If (i) the Trustee shall resign, shall be removed, or shall be dissolved, or if its property or affairs shall become otherwise incapable of acting hereunder, (ii) the Trustee shall be taken under the control of any state public officer or federal court or administrative body because of insolvency or bankruptcy, or for any other reason, then a vacancy shall forthwith and ipso facto exist in the office of Trustee and a successor may be appointed, and in case at any time the Trustee shall resign, then a successor may be appointed by filing with the Issuer, the Company, the Registrar and the Remarketing Agent an instrument in writing executed by the Owners of not less than a majority in principal amount of Bonds then Outstandingofficers, or (so long as no default or Event of Default is then existing under Section 7.01 of the Agreement or Section 9.01(a), (biii) or (c) of this Indenture), executed by the Company. Copies of such instrument a receiver shall be promptly delivered by the Issuer to the predecessor Trustee and to appointed for the Trustee so appointed. Until by a court, then a successor Trustee shall be appointed by the Owners Corporation (with the agreement of the County if there is no Event of Default and no Event of Nonappropriation under the Facilities Agreement); provided, that if a successor Trustee is not so appointed within ten days after (a) a notice of resignation or any instrument or document of removal is received by the Company Corporation as herein authorizedprovided in Sections 6.6 and 6.7 hereof, respectively, or (b) the Trustee is dissolved, taken under control, becomes otherwise incapable of acting or a receiver is appointed, in each case, as provided above, then, so long as the Corporation shall not have appointed a successor Trustee, the Issuer, Holders of a majority in aggregate principal amount of the Outstanding Bonds not paid or provided for may designate a successor Trustee by an instrument authorized or document or concurrent instruments or documents in writing signed by or on behalf of those Holders. If no appointment of a successor Trustee shall be made pursuant to the governing body foregoing provisions of this Section 6.8 within 60 days of the Issueroccurrence of any event listed in Section 6.8(a)(i)-(iii), shall the Holder of any Outstanding Bond hereunder or any retiring Trustee may apply to any court of competent jurisdiction to appoint a successor Trustee acceptable to the CompanyTrustee. After any appointment by the IssuerSuch court may thereupon, it shall cause notice of after such appointment to be given to the Remarketing Agent notice, if any, as such court may deem proper and the Registrar and to be given by Mail to all Owners of Bonds. Any new Trustee so appointed by the Issuer shall immediately and without farther act be superseded by prescribe, appoint a Trustee appointed by the Owners in the manner above providedsuccessor Trustee.

Appointment of Successor Trustee. In case at any time If the Trustee Trustee‌ hereunder shall resign or be removed, or be dissolved, or if its property otherwise become incapable of acting hereunder, or affairs in case it shall be taken under the control of any state public officer or federal court or administrative body because of insolvency or bankruptcyofficers, or for any other reasonof a receiver appointed by a court, then a vacancy shall forthwith and ipso facto exist in the office of Trustee and a successor may be appointed, and in case at any time the Trustee shall resign, then a successor may be appointed by filing with the Issuer, the Company, the Registrar and the Remarketing Agent an instrument in writing executed by the Owners of not less than a majority in principal amount of Bonds then Outstanding, or (so long as no default or Event of Default is then existing under Section 7.01 of the Agreement or Section 9.01(a), (b) or (c) of this Indenture), executed by the Company. Copies of such instrument shall be promptly delivered by the Issuer to the predecessor Trustee and to the Trustee so appointed. Until a successor Trustee shall be appointed by the Owners or by Issuer. If the Company as herein authorized, the Issuer, by an instrument authorized by the governing body of the Issuer, shall Issuer does not appoint a successor Trustee acceptable within 45 days of the Trustee providing notice of its resignation, the Trustee may petition a court of competent jurisdiction to appoint a successor Trustee. At any time within one year after any such vacancy shall have occurred and provided a court has not appointed a successor Trustee as provided above, a Majority of the Company. After Bondholders may appoint a successor Trustee by an instrument or concurrent instruments in writing signed by or on behalf of such Holders, which appointment shall supersede any appointment Trustee theretofore appointed by the Issuer. Each successor Trustee shall be a trust company or bank having the powers of a trust company which is in good standing and has a reported capital, it surplus and undivided profits of not less than $100,000,000. Any such successor Trustee shall cause become Trustee upon giving notice of such appointment to be given to the Remarketing Agent Issuer and the Registrar Bondholders, if any, of its acceptance of the appointment, vested with all the property, rights and to be given by Mail to all Owners powers of Bondsthe Trustee hereunder, without any further act or conveyance. Any new predecessor Trustee so appointed by shall execute, deliver and record and file such instruments as the Issuer shall immediately and without farther act be superseded by a Trustee appointed by the Owners in the manner above providedmay reasonably require to confirm or perfect any such succession.

Appointment of Successor Trustee. In case at any time If the Trustee shall be hereunder resigns or is removed, or be dissolvedotherwise becomes incapable of acting hereunder, or if its property or affairs shall be it is taken under the control of any state public officer or federal court officers or administrative body because of insolvency or bankruptcya receiver appointed by a court, or for any other reason, then a vacancy shall forthwith and ipso facto exist in the office of Trustee and a successor may be appointed, and in case at any time Trustee (a) reasonably acceptable to the Trustee shall resign, then a successor City may be appointed by filing with the Issuer, the Company, the Registrar and the Remarketing Agent an instrument in writing executed by the Owners of not less than a majority in principal amount of Bonds then Outstanding, or Developer (so long as no default or Event of Default has occurred and is then existing under Section 7.01 of the Agreement or Section 9.01(acontinuing), or (b) or (c) of this Indenture), executed reasonably acceptable to the City and the Developer may be appointed by the Company. Copies Owners of a majority in aggregate principal amount of Bonds then-Outstanding, by an instrument or concurrent instruments in writing; provided, nevertheless, that in case of such vacancy, the City, by an instrument shall be promptly delivered executed and signed by the Issuer its Mayor or City Manager and attested by its City Clerk under its seal, may appoint a temporary Trustee to the predecessor Trustee and to the Trustee so appointed. Until fill such vacancy until a successor Trustee shall be appointed by in the Owners or by the Company as herein authorized, the Issuer, by an instrument authorized by the governing body of the Issuer, shall appoint a successor Trustee acceptable to the Company. After any appointment by the Issuer, it shall cause notice of such appointment to be given to the Remarketing Agent and the Registrar and to be given by Mail to all Owners of Bondsmanner above provided. Any new such temporary Trustee so appointed by the Issuer City shall immediately and without farther act further acts be superseded by a the successor Trustee so appointed as provided above. Every such Trustee appointed pursuant to the provisions of this Section shall be a trust company or bank in good standing and qualified to accept such trust with a corporate trust office in the State, and having, or whose obligations are guaranteed by the Owners a financial institution having, a reported capital, surplus and undivided profits of not less than $50,000,000. If no successor Trustee has been so appointed and accepted appointment in the manner herein provided, the Trustee, at the Developer’s expense, or any Owner may petition any court of competent jurisdiction for the appointment of a successor Trustee, until a successor has been appointed as above provided.

Appointment of Successor Trustee. In case at any time the Trustee hereunder shall resign or be removed, or be dissolved, or if its property shall be in course of dissolution or affairs liquidation, or otherwise become incapable of acting hereunder, or in case the Trustee shall be taken under the control of any state public officer or federal court or administrative body because of insolvency or bankruptcyofficers, or for any other reasonof a receiver appointed by a court, then a vacancy shall forthwith and ipso facto exist in the office of Trustee and a successor may be appointed, and in case at any time the Trustee shall resign, then a successor may be appointed by filing with the Issuer, the Company, the Registrar and the Remarketing Agent an instrument owners of 50% in writing executed by the Owners of not less than a majority in aggregate principal amount of Bonds the then Outstandingoutstanding Debentures by an instrument or concurrent instruments in writing, signed by such owners of Debentures, or (so long as no default or Event of Default is then existing under Section 7.01 of by their attorneys in fact duly authorized in writing, and delivered to the Agreement or Section 9.01(a)Issuer; provided, (b) or (c) of this Indenture)nevertheless, that in any such event the Issuer by an instrument executed by authority of a resolution of its Board of Directors and signed by the Company. Copies President and by the Secretary of such instrument shall be promptly delivered by the Issuer Board, may appoint a temporary Trustee to the predecessor Trustee and to the Trustee so appointed. Until fill such vacancy until a successor Trustee shall be appointed by the Owners or by owners of Debentures in the Company as herein authorizedmanner above provided, the Issuer, by an instrument authorized by the governing body of the Issuer, shall appoint a successor Trustee acceptable to the Company. After and any appointment by the Issuer, it shall cause notice of such appointment to be given to the Remarketing Agent and the Registrar and to be given by Mail to all Owners of Bonds. Any new temporary Trustee so appointed by the Issuer shall immediately and without farther further act be superseded by a the Trustee so appointed by such owners of Debentures. In the Owners in event that no appointment of a temporary or successor Trustee shall be made pursuant to the manner above providedforegoing provisions of this Article within 30 days after the Trustee gives written notice of resignation or the Trustee is removed, any owner of Debentures or any retiring Trustee may apply to any court of competent jurisdiction for the appointment of a successor Trustee, and such court may thereupon, after such notice, if any, as it shall deem proper, prescribe or appoint a successor Trustee.

Appointment of Successor Trustee. In case at any time the Trustee hereunder shall resign or be removed, or be dissolveddissolved or shall be in course of dissolution or liquidation, or if its property otherwise become incapable of acting hereunder, or affairs in case it shall be taken under the control of of‌ any state public officer or federal court or administrative body because of insolvency or bankruptcyofficers, or for any other reasonof a receiver appointed by a court, then a vacancy shall forthwith and ipso facto exist in the office of Trustee and a successor may be appointed, and in case at any time the Trustee shall resign, then a successor may be appointed by filing the Issuer with the Issuerconsent of the Bondholder Representative, the Company, the Registrar and the Remarketing Agent by an instrument or concurrent instruments in writing executed signed by the Owners of not less than a majority Issuer. Nevertheless, in principal amount of Bonds then Outstanding, or (so long as no default or Event of Default is then existing under Section 7.01 of the Agreement or Section 9.01(a), (b) or (c) of this Indenture), executed by the Company. Copies case of such instrument shall be promptly delivered by vacancy the Issuer by resolution of its governing body may appoint a temporary Trustee to the predecessor Trustee and to the Trustee so appointed. Until fill such vacancy until a successor Trustee shall be appointed approved by the Owners or by Bondholder Representative in the Company as herein authorized, the Issuer, by an instrument authorized by the governing body of the Issuer, shall appoint a successor Trustee acceptable to the Company. After manner above provided; and any appointment by the Issuer, it shall cause notice of such appointment to be given to the Remarketing Agent and the Registrar and to be given by Mail to all Owners of Bonds. Any new temporary Trustee so appointed by the Issuer shall immediately and without farther further act be superseded by a the successor Trustee so approved by the Bondholder Representative. Every such Trustee appointed pursuant to the provisions of this Section 9.8 must be a trust company or bank having trust powers and having a reported capital and surplus not less than $50,000,000. In the event that 30 days following the resignation or removal of the Trustee, no successor Trustee has been appointed and accepted its obligations under this Indenture, the Trustee shall have the right to petition a court of competent jurisdiction for the appointment of a successor (any costs incurred by the Owners Trustee shall be reimbursed in the same manner above providedas other expenses of the Trustee are to be paid under this Indenture).

Appointment of Successor Trustee. In case at Notwithstanding any time the other provision of this Agreement, a successor Trustee shall be removed, or be dissolved, or if its property or affairs shall be taken under the control of any state or federal court or administrative body because of insolvency or bankruptcy, or for any other reason, then a vacancy shall forthwith and ipso facto exist in the office of Trustee and a successor may be appointed, and in case at any time the Trustee shall resign, then a successor may not be appointed by filing with without the Issuerconsent of AEE, the Company, the Registrar and the Remarketing Agent an instrument in writing executed by the Owners of not less than a majority in principal amount of Bonds then Outstanding, or (so long as no default Lease Bankruptcy Default or Lease Event of Default is shall have occurred and be then existing under Section 7.01 continuing, and, so long as the Lien of the Agreement Indenture shall not have been terminated or Section 9.01(a)discharged, the Indenture Trustee unless (a) such successor Trustee meets the requirements of the Trust Agreement, (b) or such successor Trustee has a combined capital and surplus of at least $150 million, and (c) AEE and the Indenture Trustee shall have received (i) an opinion or opinions of this Indenture)counsel, executed by such counsel and such opinions to be reasonably acceptable to such parties, to the Companyeffect that no regulatory consents or approvals are required or (ii) such other evidence thereof reasonably satisfactory to AEE and the Indenture Trustee, as the case may be. Copies The Owner Participant shall pay all expenses associated with obtaining any opinion pursuant to clause (c) above; provided, however, that if the Trustee resigns, is terminated for cause, or shall become incapable of such instrument acting, or shall be promptly delivered by the Issuer to the predecessor Trustee and to adjudged a bankrupt or insolvent, or a receiver of the Trustee so appointed. Until a successor Trustee or its properties shall be appointed by appointed, or any public officer shall take charge of or control the Owners Trustee or by its properties or affairs for the Company as herein authorizedpurpose of rehabilitation, conservation or liquidation, in any such case, the Issuer, opinion and additional evidence required by an instrument authorized by clause (c) shall be at the governing body sole expense of the Issuer, shall appoint a successor Trustee acceptable to the Company. After any appointment by the Issuer, it shall cause notice of such appointment to be given to the Remarketing Agent and the Registrar and to be given by Mail to all Owners of Bonds. Any new Trustee so appointed by the Issuer shall immediately and without farther act be superseded by a Trustee appointed by the Owners in the manner above providedAEE.

Appointment of Successor Trustee. In case at any time If the Trustee shall resign, shall be removed, re- moved or shall be dissolved, or if in case its property or affairs shall be taken under the control of any state or federal court or administrative body because of insolvency insolvency, bankruptcy or bankruptcy, or for any other reason, then a vacancy forthwith shall forthwith and ipso facto exist in the office of Trustee and a successor may be appointed, and in case at any time the Trustee shall resign, then a successor trustee may be appointed by filing with the Issuer, the Company, the Registrar and the Remarketing Agent an instrument in writing executed by the Owners Holders of not less than a majority in principal aggregate princi- pal amount of Bonds then Outstanding, or (so long as no default or Event of Default is then existing under Section 7.01 Outstanding by a written instrument filed with the Secretary of the Agreement Authority and signed by such Xxxxxxxxxxx or Section 9.01(a), (b) or (c) of this Indenture), executed by the Companytheir attorneys in fact duly authorized. Copies of such instrument shall be delivered promptly delivered by the Issuer Authority to the predecessor Trustee trustee and to the Trustee trustee so appointed. Until a successor Trustee trustee shall be appointed by the Owners or by the Company Bondholders, as herein authorized, the IssuerAu- thority, by an instrument authorized by the governing body resolution of the Issuerits Board, shall may appoint a successor Trustee acceptable trustee to the Companyfill such vacancy. After any such appointment by the IssuerAuthority, it shall cause notice of such appointment thereof to be given to published once in each of 2 consecutive weeks in a newspaper of general circulation in the Remarketing Agent and the Registrar and to be given by Mail to all Owners of BondsCounty. Any new Trustee successor trustee so appointed by the Issuer shall Authority immediately and without farther further act shall be superseded by a Trustee successor trustee appointed by the Owners Bondholders in the manner above herein provided.

Appointment of Successor Trustee. In case at any time If (i) the Trustee shall resign, shall be removed, or shall be dissolved, or if its property or affairs shall become otherwise incapable of acting hereunder, (ii) the Trustee shall be taken under the control of any state public officer or federal court or administrative body because of insolvency or bankruptcy, or for any other reason, then a vacancy shall forthwith and ipso facto exist in the office of Trustee and a successor may be appointed, and in case at any time the Trustee shall resign, then a successor may be appointed by filing with the Issuer, the Company, the Registrar and the Remarketing Agent an instrument in writing executed by the Owners of not less than a majority in principal amount of Bonds then Outstandingofficers, or (so long as no default or Event of Default is then existing under Section 7.01 of the Agreement or Section 9.01(a), (biii) or (c) of this Indenture), executed by the Company. Copies of such instrument a receiver shall be promptly delivered by the Issuer to the predecessor Trustee and to appointed for the Trustee so appointed. Until by a court, then a successor Trustee shall be appointed by the Owners or by the Company as herein authorized, the Issuer, by an instrument authorized by with the governing body written consent of the IssuerBorrower; provided, shall appoint that if a successor Trustee acceptable to the Company. After any appointment is not so appointed within ten (10) days after (a) a notice of resignation or an instrument or document of removal is received by the Issuer, it shall cause notice as provided in Section 6.07 and 6.08 hereof, respectively, or (b) the Trustee is dissolved, taken under control, becomes otherwise incapable of such appointment to be given to the Remarketing Agent and the Registrar and to be given by Mail to all Owners of Bonds. Any new Trustee acting or a receiver is appointed, in each case, as provided above, then, so appointed by long as the Issuer shall immediately not have appointed a successor Trustee, the Holders of at least a majority in aggregate principal amount of Bonds then outstanding may designate a successor Trustee by an instrument or document or concurrent instrument or documents in writing signed by or on behalf of those Holders. If no appointment of a successor Trustee shall be made pursuant to the foregoing provisions of this Section, the Holder of any Bond outstanding hereunder, the Bank or any retiring Trustee may apply to any court of competent jurisdiction to appoint a successor Trustee. Such court may thereupon, after such notice, if any, as such court may deem proper and without farther act be superseded by prescribe, appoint a Trustee appointed by the Owners in the manner above providedsuccessor Trustee.

Appointment of Successor Trustee. In case at any time the Trustee hereunder shall resign or be removed, or be dissolved, or if its property shall be in course of dissolution or affairs liquidation, or otherwise become incapable of acting hereunder, or in case it shall be taken under the control of any state public officer or federal court or administrative body because of insolvency or bankruptcyofficers, or for any other reasonof a receiver appointed by the court, then a vacancy shall forthwith and ipso facto exist in the office of Trustee and a successor may be appointed, and in case at any time the Trustee shall resign, then a successor may be appointed by filing with the Issuer, the Company, the Registrar and the Remarketing Agent an instrument in writing executed by the Owners holders of not less than a majority in aggregate principal amount of Bonds then Outstandingoutstanding hereunder, by an instrument or concurrent instruments in writing signed by such holders, or (so long as no default or Event by their attorneys in fact, duly authorized; provided, nevertheless, that in case of Default is then existing under Section 7.01 such vacancy the Issuer, subject to the approval of the Agreement or Section 9.01(a)Company, (b) or (c) of this Indenture), by an instrument executed and signed by the Company. Copies Chairman, Vice Chairman, Secretary-Treasurer or an Assistant Secretary of such instrument shall be promptly delivered by the Issuer under its seal, shall appoint a temporary trustee to the predecessor Trustee and to the Trustee so appointed. Until fill such vacancy until a successor Trustee trustee shall be appointed by the Owners or by Bondholders in the Company as herein authorized, the Issuer, by an instrument authorized by the governing body of the Issuer, shall appoint a successor Trustee acceptable to the Company. After manner above provided; and any appointment by the Issuer, it shall cause notice of such appointment to be given to the Remarketing Agent and the Registrar and to be given by Mail to all Owners of Bonds. Any new Trustee temporary trustee so appointed by the Issuer shall immediately and without farther further act be superseded by a Trustee the trustee so appointed by the Owners such Bondholders. Every such temporary trustee and every such successor trustee shall be a trust company or bank in the manner above providedgood standing, having capital and surplus of not less than $10,000,000.

Appointment of Successor Trustee. (a) In case at any time the Trustee shall resign or shall be removed, removed or be dissolvedshall become adjudged a bankrupt or insolvent, or if a receiver of the Trustee or of its property shall be appointed, or if any public officer shall take charge or control of the Trustee, or of its property or affairs affairs, for the purpose of rehabilitation, conservation or liquidation, or a vacancy shall be taken under deemed to exist in the control office of any state or federal court or administrative body because of insolvency or bankruptcy, or the Trustee for any other reason, then the Company, by a vacancy Board Resolution, shall forthwith and ipso facto exist promptly appoint a successor trustee; provided, however, that in case all or substantially all of the Mortgaged Property shall at the time be in the office possession of Trustee a receiver or trustee lawfully appointed, such receiver or trustee, by written instrument, may in such circumstances and instead of the Company similarly appoint such successor. Within one year after such resignation, removal, adjudication, appointment or taking, or the occurrence of such vacancy, a successor may be appointed, and in case at any time the Trustee shall resign, then a successor may be appointed by filing with the Issuer, the Company, the Registrar and the Remarketing Agent an instrument in writing executed by the Owners Holders of not less than a majority in aggregate principal amount of Bonds then Outstandingthe Outstanding Bonds, or (and the successor trustee so long as no default or Event of Default is then existing under Section 7.01 of the Agreement or Section 9.01(a)appointed shall, (b) or (c) of this Indenture), executed by the Company. Copies forthwith upon its acceptance of such instrument shall be promptly delivered by appointment, become the Issuer to successor trustee and supersede the predecessor Trustee and to the Trustee so appointed. Until a successor Trustee shall be trustee appointed by the Owners Company or by the Company as herein authorized, the Issuer, by an instrument authorized by the governing body of the Issuer, shall appoint a successor Trustee acceptable to the Company. After any appointment by the Issuer, it shall cause notice of such appointment to be given to the Remarketing Agent and the Registrar and to be given by Mail to all Owners of Bonds. Any new Trustee so appointed by the Issuer shall immediately and without farther act be superseded by a Trustee appointed by the Owners in the manner above providedreceiver or trustee.

Appointment of Successor Trustee. In case at any time (a) If (i) the Trustee shall resign, shall be removed, or shall be dissolved, or if its property or affairs shall become otherwise incapable of acting hereunder, (ii) the Trustee shall be taken under the control of any state or federal court or administrative body because of insolvency or bankruptcy, or for any other reason, then a vacancy shall forthwith and ipso facto exist in the office of Trustee and a successor may be appointed, and in case at any time the Trustee shall resign, then a successor may be appointed by filing with the Issuer, the Company, the Registrar and the Remarketing Agent an instrument in writing executed by the Owners of not less than a majority in principal amount of Bonds then Outstandingpublic agency, or (so long as no default or Event of Default is then existing under Section 7.01 of the Agreement or Section 9.01(a), (biii) or (c) of this Indenture), executed by the Company. Copies of such instrument a receiver shall be promptly delivered by the Issuer to the predecessor Trustee and to appointed for the Trustee so appointed. Until by a court, then a successor Trustee shall be appointed by the Owners or by Issuer, with the written consent of the Company as herein authorized, and the Issuer, by an instrument authorized by the governing body of the Issuer, shall appoint Agent; provided that if a successor Trustee acceptable to the Company. After any appointment is not so appointed within 10 days after (A) a notice of resignation or an instrument or document of removal is received by the Issuer, it shall cause notice as provided in Sections 8.06 and 8.07, respectively, or (B) the Trustee is dissolved, taken under control, becomes otherwise incapable of such appointment to be given to the Remarketing Agent and the Registrar and to be given by Mail to all Owners of Bonds. Any new Trustee acting or a receiver is appointed, in each case, as provided above, then, so appointed by long as the Issuer shall immediately not have appointed a successor Trustee, the Holders of a majority in aggregate principal amount of Bonds outstanding may designate a successor Trustee by an instrument or document or concurrent instruments or documents in writing signed by or on behalf of those Holders. If no appointment of a successor Trustee shall be made pursuant to the foregoing provisions of this Section, the Holder of any Bond outstanding or any retiring Trustee may apply to any court of competent jurisdiction to appoint a successor Trustee. Such court may thereupon, after such notice, if any, as such court may deem proper and without farther act be superseded by prescribe, appoint a Trustee appointed by the Owners in the manner above providedsuccessor Trustee.

Appointment of Successor Trustee. In case at any time the event of the removal or resignation of the Trustee pursuant to Sections 8.06 or 8.07, respectively, and if the Owners shall be removednot have approved a successor Trustee, or be dissolvedthen, or if its property or affairs with the prior written consent of the City, the Agency shall be taken under promptly appoint a successor Trustee. In the control of any state or federal court or administrative body because of insolvency or bankruptcy, or event the Agency shall for any other reason, then a vacancy shall forthwith and ipso facto exist in the office of Trustee and a successor may be appointed, and in case at any time the Trustee shall resign, then a successor may be appointed by filing with the Issuer, the Company, the Registrar and the Remarketing Agent an instrument in writing executed by the Owners of not less than a majority in principal amount of Bonds then Outstanding, or (so long as no default or Event of Default is then existing under Section 7.01 of the Agreement or Section 9.01(a), (b) or (c) of this Indenture), executed by the Company. Copies of such instrument shall be promptly delivered by the Issuer reason whatsoever fail to the predecessor Trustee and to the Trustee so appointed. Until a successor Trustee shall be appointed by the Owners or by the Company as herein authorized, the Issuer, by an instrument authorized by the governing body of the Issuer, shall appoint a successor Trustee acceptable within sixty (60) days following the delivery to the Company. After any appointment Trustee of the instrument described in Section 8.06 or within sixty (60) days following the receipt of notice by the IssuerAgency pursuant to Section 8.07, it shall cause notice the Trustee may, at the expense of such the Agency, apply to a court of competent jurisdiction for the appointment to be given to of a successor Trustee meeting the Remarketing Agent and the Registrar and to be given by Mail to all Owners require- ments of BondsSection 8.01 hereof. Any new Trustee so appointed by the Issuer shall immediately and without farther act be superseded by a such successor Trustee appointed by such court shall become the Owners successor Trustee hereunder notwithstanding any action by the Agency purporting to appoint a successor Trustee following the expiration of such ninety-day period. Within sixty (60) days following the appointment of a successor Trustee hereunder, the former Trustee shall deliver to such successor Trustee (a) all funds and accounts held by the for- mer Trustee hereunder, and (b) any and all information and documentation as may be required or reasonably requested by the Agency or such successor Trustee in connection with the manner above providedtransfer to such successor Trustee of all the duties and functions of the Trustee hereunder. The Agency shall pay the reasonable costs and expenses of such former Trustee incurred in connection with such transfer.

Appointment of Successor Trustee. In case at any time (a) If (i) the Trustee shall resign, shall be removed, or shall be dissolved, or if its property or affairs shall become otherwise incapable of acting hereunder, (ii) the Trustee shall be taken under the control of any state public officer or federal court or administrative body because of insolvency or bankruptcy, or for any other reason, then a vacancy shall forthwith and ipso facto exist in the office of Trustee and a successor may be appointed, and in case at any time the Trustee shall resign, then a successor may be appointed by filing with the Issuer, the Company, the Registrar and the Remarketing Agent an instrument in writing executed by the Owners of not less than a majority in principal amount of Bonds then Outstandingofficers, or (so long as no default or Event of Default is then existing under Section 7.01 of the Agreement or Section 9.01(a), (biii) or (c) of this Indenture), executed by the Company. Copies of such instrument a receiver shall be promptly delivered by the Issuer to the predecessor Trustee and to appointed for the Trustee so appointed. Until by a court, then a successor Trustee shall be appointed by the Owners Corporation (with the agreement of the City if there is no Event of Default and no Event of Nonappropriation under the Facilities Agreement); provided, that if a successor Trustee is not so appointed within ten days after (a) a notice of resignation or any instrument or document of removal is received by the Company Corporation as herein authorizedprovided in Sections 6.6 and 6.7 hereof, respectively, or (b) the Trustee is dissolved, taken under control, becomes otherwise incapable of acting or a receiver is appointed, in each case, as provided above, then, so long as the Corporation shall not have appointed a successor Trustee, the Issuer, Holders of a majority in aggregate principal amount of the Outstanding Bonds not paid or provided for may designate a successor Trustee by an instrument authorized or document or concurrent instruments or documents in writing signed by or on behalf of those Holders. If no appointment of a successor Trustee shall be made pursuant to the governing body foregoing provisions of this Section 6.8 within 60 days of the Issueroccurrence of any event listed in Section 6.8(a)(i)-(iii), shall the Holder of any Outstanding Bond hereunder or any retiring Trustee may apply to any court of competent jurisdiction to appoint a successor Trustee acceptable to the CompanyTrustee. After any appointment by the IssuerSuch court may thereupon, it shall cause notice of after such appointment to be given to the Remarketing Agent notice, if any, as such court may deem proper and the Registrar and to be given by Mail to all Owners of Bonds. Any new Trustee so appointed by the Issuer shall immediately and without farther act be superseded by prescribe, appoint a Trustee appointed by the Owners in the manner above providedsuccessor Trustee.

Appointment of Successor Trustee. In case at any time the Trustee hereunder shall resign or be removed, or be dissolved, or if its property shall be in course of dissolution or affairs liquidation, or otherwise become incapable of acting hereunder, or in case the Trustee shall be taken under the control of any state public officer or federal court or administrative body because of insolvency or bankruptcyofficers, or for any other reasonof a receiver appointed by a court, then a vacancy shall forthwith and ipso facto exist in the office of Trustee and a successor may be appointed, and in case at any time the Trustee shall resign, then a successor may be appointed by filing with the Issuer, the Company, the Registrar and the Remarketing Agent an instrument owners of 50% in writing executed by the Owners of not less than a majority in aggregate principal amount of Bonds the then Outstandingoutstanding Notes by an instrument or concurrent instruments in writing, signed by such owners of Notes, or (so long as no default or Event of Default is then existing under Section 7.01 of by their attorneys in fact duly authorized in writing, and delivered to the Agreement or Section 9.01(a)Issuer; provided, (b) or (c) of this Indenture)nevertheless, that in any such event the Issuer by an instrument executed by authority of a resolution of its Board of Directors and signed by the Company. Copies President and by the Secretary of such instrument shall be promptly delivered by the Issuer Board, may appoint a temporary Trustee to the predecessor Trustee and to the Trustee so appointed. Until fill such vacancy until a successor Trustee shall be appointed by the Owners or by owners of Notes in the Company as herein authorizedmanner above provided, the Issuer, by an instrument authorized by the governing body of the Issuer, shall appoint a successor Trustee acceptable to the Company. After and any appointment by the Issuer, it shall cause notice of such appointment to be given to the Remarketing Agent and the Registrar and to be given by Mail to all Owners of Bonds. Any new temporary Trustee so appointed by the Issuer shall immediately and without farther further act be superseded by a the Trustee so appointed by such owners of Notes. In the Owners in event that no appointment of a temporary or successor Trustee shall be made pursuant to the manner above providedforegoing provisions of this Article within 30 days after the Trustee gives written notice of resignation or the Trustee is removed, any owner of Notes or any retiring Trustee may apply to any court of competent jurisdiction for the appointment of a successor Trustee, and such court may thereupon, after such notice, if any, as it shall deem proper, prescribe or appoint a successor Trustee.