Appointment, Removal and Resignation of Trust Preferred Guarantee Trustee. (a) Subject to Section 4.2(b), the Trust Preferred Guarantee Trustee may be appointed or removed without cause at any time by the Guarantor except during an Event of Default. (b) The Trust Preferred Guarantee Trustee shall not be removed in accordance with Section 4.2(a) until a Successor Trust Preferred Guarantee Trustee has been appointed and has accepted such appointment by written instrument executed by such Successor Trust Preferred Guarantee Trustee and delivered to the Guarantor.
Appears in 6 contracts
Samples: Trust Preferred Securities Guarantee Agreement (Enron Preferred Funding Ii L P), Trust Preferred Securities Guarantee Agreement (Enron Capital Trust Ii), Trust Preferred Securities Guarantee Agreement (Merrill Lynch Preferred Capital Trust Iv)
