Common use of Custodian Removal Clause in Contracts

Custodian Removal. The Trust may remove the Custodian upon 60 days' prior written notice to the Custodian and appoint a successor Custodian. In case at any time the Custodian shall not meet the requirements set forth in the Trust Agreement or shall become incapable of acting or if a court having jurisdiction shall enter a decree or order for relief in respect of the Custodian in an involuntary case, or the Custodian shall commence a voluntary case, under any applicable bankruptcy, insolvency, or other similar law now or hereafter in effect, or any receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) for the Custodian or for any substantial part of its property shall be appointed, or the Custodian shall make any general assignment for the benefit of creditors, or shall generally fail to pay its debts as they become due, the Trust may remove the Custodian immediately and appoint a successor Custodian. The termination of the Administration Agreement or the Paying Agent Agreement shall cause the removal of the Custodian simultaneously therewith.

Custodian Removal. The Trust Trustees may remove the Custodian upon 60 days' prior written notice to the Custodian and appoint a successor Custodian. In case at any time the Custodian shall not meet the requirements set forth in the Trust Agreement or shall become incapable of acting or if a court having jurisdiction shall enter a decree or order for relief in respect of the Custodian in an involuntary case, or the Custodian shall commence a voluntary case, under any applicable bankruptcy, insolvency, or other similar law now or hereafter in effect, or any receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) for the Custodian or for any substantial part of its property shall be appointed, or the Custodian shall make any general assignment for the benefit of creditors, or shall generally fail to pay its debts as they become due, the Trust Trustees may remove the Custodian immediately and appoint a successor Custodian. The termination of the Administration Agreement or the Paying Agent Agreement shall cause the removal of the Custodian simultaneously therewith.

Custodian Removal. The Trust may remove the Custodian upon 60 days' days prior written notice to the Custodian and appoint a successor Custodian. In case at any time the Custodian shall not meet the requirements set forth in the Trust Agreement or shall become incapable of acting or if a court having jurisdiction shall enter a decree or order for relief in respect of the Custodian in an involuntary case, or the Custodian shall commence a voluntary case, under any applicable bankruptcy, insolvency, or other similar law now or hereafter in effect, or any receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) for the Custodian or for any substantial part of its property shall be appointed, or the Custodian shall make any general assignment for the benefit of creditors, or shall generally fail to pay its debts as they become due, the Trust may remove the Custodian immediately and appoint a successor Custodian. The termination of the Administration Agreement or the Paying Agent Agreement shall cause the removal of the Custodian simultaneously therewith.

Custodian Removal. The Trust may remove the Custodian upon 60 days' prior written notice to the Custodian and appoint a successor Custodian. In case at any time the Custodian shall not meet the requirements set forth in the Trust Agreement or shall become incapable of acting or if a court having jurisdiction shall enter a decree or order for relief in respect of the Custodian in an involuntary case, or the Custodian shall commence a voluntary case, under any applicable bankruptcy, insolvency, or other similar law now or hereafter in effect, or any receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) for the Custodian or for any substantial part of its property shall be appointed, or the Custodian shall make any general assignment for the benefit of creditors, or shall generally fail to pay its debts as they become due, the Trust may remove the Custodian immediately and appoint a successor Custodian. The termination of the Administration Agreement or the Paying Agent Agreement shall cause the removal of the Custodian simultaneously therewith, unless otherwise agreed by both parties in writing.

Custodian Removal. The Trust may remove the Custodian upon 60 days' days prior written notice to the Custodian and appoint a successor Custodian. In case at any time the Custodian shall not meet the requirements set forth in the Trust Agreement or shall become incapable of acting or if a court having jurisdiction shall enter a decree or order for relief in respect of the Custodian in an involuntary case, or the Custodian shall commence a voluntary case, under any applicable bankruptcy, insolvency, or other similar law now or hereafter in effect, or any receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) for the Custodian or for any substantial part of its property shall be appointed, or the Custodian shall make any general assignment for the benefit of creditors, or shall generally fail to pay its debts as they become due, the Trust may remove the Custodian immediately and appoint a successor Custodian, provided that, for as long as the Debt Securities are held in either Euroclear or Cedel, such successor Custodian is an institution authorized by either of Euroclear or Cedel, as appropriate, to act as its depositary. The termination of the Administration Agreement or the Paying Agent Agreement shall cause the removal of the Custodian simultaneously therewith.

Custodian Removal. The Trust may remove the Custodian upon 60 days' days prior written notice to the Custodian and appoint a successor Custodian. In case at any time the Custodian shall not meet the requirements set forth in the Trust Agreement or shall become incapable of acting or if a court having jurisdiction shall enter a decree or order for relief in respect of the Custodian in an involuntary case, or the Custodian shall commence a voluntary case, under any applicable bankruptcy, insolvency, or other similar law now or hereafter in effect, or any receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) for the Custodian or for any substantial part of its property shall be appointed, or the Custodian shall make any general assignment for the benefit of creditors, or shall generally fail to pay its debts as they become due, the Trust may remove the Custodian immediately and appoint a successor Custodian. The termination of the Administration Agreement or the Paying Agent Agreement shall cause the removal of the Custodian simultaneously therewith.a

Custodian Removal. The Trust may remove the Custodian upon 60 days' prior written notice to the Custodian and appoint a successor Custodian. In case at any time the Custodian shall not meet the requirements set forth in the Trust Agreement or shall become incapable of acting or if a court having jurisdiction shall enter a decree or order for relief in respect of the Custodian in an involuntary case, or the Custodian shall commence a voluntary case, under any applicable bankruptcy, insolvency, or other similar law now or hereafter in effect, or any receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) for the Custodian or for any substantial part of its property shall be appointed, or the Custodian shall make any general assignment for the benefit of creditors, or shall generally fail to pay its debts as they become due, the Trust may remove the Custodian immediately and appoint a successor Custodian. The termination of the Administration Agreement, the Collateral Agreement or the Paying Agent Agreement shall cause the removal of the Custodian simultaneously therewith.