Common use of Appointment of Successor Trustee Clause in Contracts

Appointment of Successor Trustee. 11.01 If the Trustee resigns or is removed, other than within the time period provided in Section 10.03 hereof, the Company may appoint any third ------------- party, such as a bank Trust department or other party that may be granted corporate Trustee powers under state law, as a Successor Trustee to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the Successor Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the Successor Trustee to evidence the transfer. 11.02 If the Trustee resigns or is removed within the time period provided in Section 10.03 hereof and selects a Successor Trustee, the Trustee ------------- may appoint any third party, such as a bank Trust department or other party that my be granted corporate Trustee powers under state law. The appointment of a Successor Trustee shall be effective when accepted in writing by the Successor Trustee. The Successor Trustee shall have all the rights and powers of the former Trustee, including ownership rights in Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Successor Trustee to evidence the transfer. 11.03 The Successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Articles 7 and 8 hereof. The Successor Trustee shall not be responsible for and ---------------- the Company shall indemnify and defend the Successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes Successor Trustee.

Appointment of Successor Trustee. 11.01 (a) If the Trustee resigns or is removed, other than within the time period provided removed in Section 10.03 accordance with Article 10(a) or (b) hereof, the Company may appoint any third ------------- party, such as a bank Trust trust department or other party that may be granted corporate Trustee trustee powers under state law, as a Successor Trustee successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the Successor new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the Successor successor Trustee to evidence the transfer. 11.02 (b) If the Trustee resigns or is removed within pursuant to the time period provided in Section 10.03 hereof provisions of Article 10(d) and selects a Successor successor Trustee, the Trustee ------------- may appoint any third party, party such as a bank Trust trust department or other party that my may be granted corporate Trustee trustee powers under state law. The appointment of a Successor successor Trustee shall be effective when accepted in writing by the Successor new Trustee. The Successor new Trustee shall have all the rights and powers of the former Trustee, including ownership rights in Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Successor successor Trustee to evidence the transfer. 11.03 (c) The Successor successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Articles 7 and 8 hereof. The Successor successor Trustee shall not be responsible for and ---------------- the Company shall indemnify and defend the Successor successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes Successor successor Trustee.

Appointment of Successor Trustee. 11.01 If (a) Within thirty (30) days following the resignation or removal of the Trustee resigns in accordance with Section 14(a) or is removed, other than within the time period provided in Section 10.03 hereof14(b), the Company may shall appoint any third ------------- party, such as a bank Trust trust department or other third party that may be granted corporate Trustee trustee powers under state law, as a Successor Trustee successor to replace the Trustee. (b) If the Trustee upon resignation resigns or removalis removed within two (2) years following a Change of Control (as hereinafter defined), the Trustee shall appoint a bank trust department or other third party that may be granted corporate trustee powers under state law, as successor to replace the Trustee. The Trustee and the Company shall obtain the written consent of the Plan participants and their beneficiaries to the entity chosen as successor Trustee in advance of making such appointment. If the Company does not appoint a successor Trustee within this thirty (30) day period, or if the Company is unable to obtain the Plan participants and their beneficiaries’ written consent to the entity chosen as successor Trustee, the Trustee or the Company may petition a court of competent jurisdiction to name a successor. (c) The appointment of a successor Trustee shall be effective when accepted in writing by the Successor successor Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the Successor successor Trustee to evidence the transfer. 11.02 If the Trustee resigns or is removed within the time period provided in Section 10.03 hereof and selects a Successor Trustee, the Trustee ------------- may appoint any third party, such as a bank Trust department or other party that my be granted corporate Trustee powers under state law. (d) The appointment of a Successor Trustee shall be effective when accepted in writing by the Successor Trustee. The Successor Trustee shall have all the rights and powers of the former Trustee, including ownership rights in Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Successor Trustee to evidence the transfer. 11.03 The Successor successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Articles 7 and 8 hereofthe terms of this Trust Agreement. The Successor successor Trustee shall not be responsible for and ---------------- the Company shall indemnify and defend the Successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, event or any condition existing at the time it becomes Successor successor Trustee.

Appointment of Successor Trustee. 11.01 11.1 If the Trustee resigns or is removedin accordance with Section X, other than within the time period provided in Section 10.03 hereof, the Company may appoint any third ------------- party, such as a lawyer, certified public accountant, bank Trust trust department or other party that may be granted corporate Trustee trustee powers under state law, as a Successor Trustee successor to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the Successor Trusteenew trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the Successor successor Trustee to evidence the transfer. 11.02 11.2 If the Trustee resigns or is removed within pursuant to the time period provided in provisions of Section 10.03 hereof X and selects a Successor successor Trustee, the Trustee ------------- may appoint any third party, party such as a lawyer, certified public accountant, bank Trust trust department or other party that my may be granted corporate Trustee trustee powers under state law. The appointment of a Successor successor Trustee shall be effective when accepted in writing by the Successor new Trustee. The Successor new Trustee shall have all the rights and powers of the former Trustee, including ownership rights in Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Successor successor Trustee to evidence the transfer. 11.03 11.3 The Successor successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Articles 7 Sections VII and 8 VIII hereof. The Successor successor Trustee shall not be responsible for and ---------------- the Company shall indemnify and defend the Successor successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes Successor successor Trustee.

Appointment of Successor Trustee. 11.01 If 1. In case at any time the Trustee resigns shall resign or is removedshall be removed or shall become incapable of acting, other than or shall be adjudged a bankrupt or insolvent, or if a receiver, liquidator or conservator 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, a successor may be appointed by the Authority by a duly executed written instrument signed by an Authorized Officer, but if the Authority does not appoint a successor Trustee within thirty (30) days, then by the time period Owners of a majority in principal amount of the Assessment Bonds then Outstanding, excluding any Assessment Bonds held by or for the account of the Authority, by an instrument or concurrent instruments in writing signed and acknowledged by such Bondowners or by their attorneys-in- fact duly authorized and delivered to such successor Trustee, notification thereof being given to the Authority and the predecessor Trustee. The Authority shall promptly mail notice of any such appointment made by it or such Bondowners to the registered owners of Assessment Bonds then Outstanding. 2. If in a proper case no appointment of a successor Trustee shall be made pursuant to the foregoing provisions of this Section within 45 days after the Trustee shall have given to the Authority written notice as provided in Section 10.03 hereof, 707 or after a vacancy in the Company may appoint any third ------------- party, such as a bank Trust department or other party that may be granted corporate Trustee powers under state law, as a Successor Trustee to replace office of the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the Successor Trustee, who shall have all occurred by reason of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the Successor Trustee its inability to evidence the transfer. 11.02 If the Trustee resigns or is removed within the time period provided in Section 10.03 hereof and selects a Successor Trusteeact, the Trustee ------------- or the Owner of any Assessment Bond may apply to any court of competent jurisdiction to appoint any third partya successor Trustee. Said court may thereupon, after such notice, if any, as such court may deem proper, appoint a bank Trust department or other party that my be granted corporate successor Trustee. 3. Any Trustee powers appointed under state law. The appointment the provisions of a Successor this Section 709 in succession to the Trustee shall be effective when accepted in writing a bank or trust company organized under the laws of any state of the United States or a national banking association having a capital and surplus aggregating at least $100,000,000, if there be such a bank or trust company or national banking association willing and able to accept the office on reasonable and customary terms and authorized by the Successor Trustee. The Successor Trustee shall have law to perform all the rights and powers of the former Trustee, including ownership rights in duties imposed upon it by this Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Successor Trustee to evidence the transferAgreement. 11.03 The Successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Articles 7 and 8 hereof. The Successor Trustee shall not be responsible for and ---------------- the Company shall indemnify and defend the Successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes Successor Trustee.

Appointment of Successor Trustee. 11.01 If the Trustee resigns or is removed, other than within the time period provided in Section 10.03 hereof, the Company may appoint any third ------------- party, such as a bank Trust department or other party that may be granted corporate Trustee powers under state law, as a Successor Trustee to replace the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the Successor Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the Successor Trustee to evidence the transfer. 11.02 If the Trustee resigns or is removed within the time period provided in Section 10.03 hereof and selects a Successor Trustee, the Trustee ------------- may appoint any third party, such as a bank Trust department or other party that my may be granted corporate Trustee powers under state law. The appointment of a Successor Trustee shall be effective when accepted in writing by the Successor Trustee. The Successor Trustee shall have all the rights and powers of the former Trustee, including ownership rights in Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Successor Trustee to evidence the transfer. 11.03 The Successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Articles 7 and 8 hereof. The Successor Trustee shall not be responsible for and ---------------- the Company shall indemnify and defend the Successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes Successor Trustee.

Appointment of Successor Trustee. 11.01 If (a) In case at any time the Trustee resigns shall resign or shall be removed or shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or if a receiver, liquidator or conservator 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, a successor may be appointed by the Governing Board, as long as the Governing Board is removed, other than not in default under the Master Lease and the Master Lease is in full force and effect. In the event that no appointment of a successor Trustee shall be made pursuant to the foregoing provisions within 45 days after the time period Trustee shall have given to the Governing Board written notice as provided in Section 10.03 hereof, 605 or after a vacancy in the Company may appoint any third ------------- party, such as a bank Trust department or other party that may be granted corporate Trustee powers under state law, as a Successor Trustee to replace office of the Trustee upon resignation or removal. The appointment shall be effective when accepted in writing by the Successor Trustee, who shall have all occurred by reason of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the Company or the Successor Trustee to evidence the transfer. 11.02 If the Trustee resigns or is removed within the time period its removal as provided in Section 10.03 hereof 606 or by reason of its inability to act, a successor Trustee may be appointed by the Holders of a majority in principal amount of each Series of Certificates then Outstanding, excluding any Certificates held by or for the account of the Governing Board, by an instrument or concurrent instruments in writing signed and selects a Successor acknowledged by such Certificate Holders or by their attorneys‐in‐fact duly authorized and delivered to such successor Trustee, notification thereof being given to the Trustee ------------- may appoint any third partyCorporation, such as a bank Trust department or other party that my be granted corporate Trustee powers under state lawthe Governing Board and the predecessor. The appointment For purposes of this Article VI, ʺappointmentʺ of a Successor successor Trustee shall be effective when accepted in writing deemed to occur upon designation, acceptance and commencement of performance of duties by the Successor successor Trustee. The Successor . (b) Any Trustee appointed under the provisions of this Section in succession to the Trustee shall have be a bank or trust company or national banking association, having capital stock and surplus aggregating at least $50,000,000 or at least $500,000,000 in trust assets under management, if there be such bank or trust company or national banking association willing and able to accept the office on reasonable and customary terms and authorized by law to perform all the rights and powers duties imposed upon it by this Trust Agreement.‌ (c) Each Credit Facility Issuer shall be furnished with written notice of the former resignation or removal of the Trustee, including ownership rights in Trust assets. The former Trustee shall execute Paying Agent and Registrar and of the appointment of, and acceptance of duties by, any instrument necessary or reasonably requested by the Successor Trustee to evidence the transfersuccessor thereto. 11.03 The Successor Trustee need not examine the records and acts of any prior Trustee and may retain or dispose of existing Trust assets, subject to Articles 7 and 8 hereof. The Successor Trustee shall not be responsible for and ---------------- the Company shall indemnify and defend the Successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes Successor Trustee.