Appointment of Successor Trustees. If a Trustee dies, resigns or is removed, the vacancy occurring as a result of such death, resignation or removal shall be promptly filled with a qualified individual by the Settlor; provided, however, that at no time shall there be more than one Trustee of this Trust who is an Affiliate of the Settlor, or who is employed by the Settlor or by an Affiliate of the Settlor.
Appears in 5 contracts
Samples: Shareholders’ Trust (Cap Rock Energy Corp), Shareholders’ Trust (Cap Rock Energy Corp), Shareholders’ Trust (Cap Rock Energy Corp)
