Common use of Co-Trustees Clause in Contracts

Co-Trustees. A trustee may, notwithstanding Clause 16.1, by written notice to the Issuer (copied to the Authorised Participants and the Margin Loan Providers and the other relevant Programme Parties) appoint anyone to act as an additional trustee jointly with the trustee: (A) if the trustee considers the appointment to be in the interests of the ETP Securityholders; (B) to conform with a legal requirement, restriction or condition in a jurisdiction in which a particular act is to be performed; (C) to obtain a judgment or to enforce a judgment or any provision of the relevant Security Documents in any jurisdiction; or (D) if the Issuer fails to appoint a new trustee pursuant to Clause 16.2 on or prior to the date on which the existing trustee's retirement as trustee would take effect but for the failure of the Issuer to appoint a successor trustee in its place. Subject to the provisions of the relevant Security Documents, the trustee may confer on any person so appointed such functions as it thinks fit. The trustee may, by written notice to the Issuer and that person, terminate such appointment. At the trustee's request, the Issuer shall forthwith do all things that may be required to perfect such appointment or removal and it irrevocably appoints the trustee as its attorney in its name and on its behalf to do so.