Designation and Succession of Paying Agents. The Trustee shall be the Paying Agent for the Bonds and, with the consent of the Issuer, the Trustee may appoint an additional Paying Agent or Agents with power to act on its behalf and subject to its direction in the payment of Debt Service on the Bonds. It is the responsibility of the Trustee to establish the duties and responsibilities of any Paying Agent for the purposes of this Indenture, to the extent not specified herein. Any corporation or association with or into which any Paying Agent may be merged or converted or with which it may be consolidated, or any corporation or association resulting from any merger, consolidation or conversion to which any Paying Agent shall be a party, or any corporation or association succeeding to the trust business of any Paying Agent, shall be the successor of that Paying Agent hereunder, if that successor corporation or association is otherwise eligible hereunder, without the execution or filing of any paper or any further act on the part of the parties hereto or of the predecessor or that successor Paying Agent. Any Paying Agent may at any time resign by giving written notice of resignation to the Trustee, the Registrar and the Company. The Trustee may at any time terminate the agency of any Paying Agent by giving written notice of termination to such Paying Agent, the Registrar and the Company. Upon receiving such a notice of resignation or upon such a termination, or in case at any time any Paying Agent shall cease to be eligible under this Section, the Trustee may appoint a successor Paying Agent. Any successor Paying Agent must be a bank or trust company organized under the laws of the United States or any state thereof. The Trustee shall give written notice of appointment of a successor Paying Agent to the Company, the Issuer and the Registrar and shall mail, within ten days after that appointment, notice thereof to all Holders as their names and addresses appear on the Register on the date of that appointment.
Designation and Succession of Paying Agents. The Trustee and any other banks or trust companies, if any, designated as Paying Agent or Paying Agents in any supplemental indenture providing for the issuance of Additional Bonds as provided in Section 2.11 hereof or in an instrument appointing a successor Trustee, shall be the Paying Agent or Paying Agents for the applicable series of Bonds. Any bank or trust company with which or into which any Paying Agent may be merged or consolidated, or to which the assets and business of such Paying Agent may be sold, shall be deemed the successor of such Paying Agent for the purposes of this Indenture. If the position of Paying Agent shall become vacant for any reason, the Issuer shall, within thirty (30) days thereafter, appoint such bank or trust company as shall be specified by the Company as such Paying Agent to fill such vacancy; provided, however, that, if the Issuer shall fail to appoint such Paying Agent within said period, the Trustee shall make such appointment. The Paying Agents shall enjoy the same protective provisions in the performance of their duties hereunder as are specified in Section 11.1 hereof with respect to the Trustee insofar as such provisions may be applicable.
Designation and Succession of Paying Agents. The Paying Agent for the Notes shall be the Trustee. Any bank or trust company with or into which any Paying Agent may be merged or consolidated, or to which the assets and business of such Paying Agent may be sold, shall be deemed the successor of such Paying Agent for the purposes of this Indenture. If the position of Paying Agent shall become vacant for any reason, the Issuer shall, within thirty (30) days thereafter, appoint a bank or trust company having corporate trust powers and having a long-term unsecured debt rating from the Rating Agency of at least "Baa3" to fill such vacancy; provided, however, that if the Issuer shall fail to appoint such Paying Agent within said period, the Trustee shall make such appointment, subject to the foregoing eligibility requirements. Other Paying Agents or fiscal agents may be appointed pursuant by the Issuer if in its discretion additional Paying Agents or fiscal agents are deemed advisable. The Paying Agents shall enjoy the same protective provisions in the performance of their duties hereunder as are specified in Section 10.1 hereof with respect to the Trustee insofar as such provisions may be applicable. Notice of the appointment of additional Paying Agents or fiscal agents shall be given in the same manner as provided by Section 10.8 hereof with respect to the appointment of a successor Trustee.
Designation and Succession of Paying Agents. After 15 days' written notice to the Issuer and subject to the Issuer's approval (which shall not unreasonably be withheld or delayed), the Trustee may designate any other banks or trust companies as paying agent. Any bank or trust company with or into which any paying agent other than the Trustee may be merged or consolidated, or to which the assets and business of such paying agent may be sold, shall be deemed the successor to such paying agent for the purposes of this Indenture. If the position of such paying agent shall become vacant for any reason, the Trustee shall, within 30 days thereafter, appoint a bank or trust company located in the same state as such paying agent to fill such vacancy, subject to the Issuer's approval (which shall not unreasonably be withheld or delayed). The paying agents shall enjoy the same protective provisions in the performance of their duties hereunder as are specified in Section 9.01 with respect to the Trustee, insofar as such provisions may be applicable.
Designation and Succession of Paying Agents. The Depositary is hereby designated as Paying Agent for the Bonds for the purpose of purchasing Bonds pursuant to Section 401(d) and making payments of interest during the Variable Rate Period, which designation shall terminate upon the earliest to occur of an Event of Default, the Conversion Date or the termination of FNBB as Depositary. After 15 days' written notice to the Borrower and subject to the Borrower's approval, the Trustee may designate any other banks or trust companies as Paying Agents. Any bank or trust company with or into which any Paying Agent other than the Trustee may be merged or consolidated, or to which the assets and business of such Paying Agent may be sold, shall be deemed the successor of such Paying Agent for the purposes of this Agreement. If the position of such Paying Agent shall become vacant for any reason, the Trustee shall, within 30 days thereafter, appoint a bank or trust company located in the same state as such Paying Agent to fill such vacancy.
Designation and Succession of Paying Agents. Trustee and any other banks or trust companies designated as Paying Agent or Paying Agents in any supplemental indenture or in an instrument appointing a successor Trustee shall be the Paying Agent or Paying Agents for the Senior Debentures. Any bank or trust company with which or into which any Paying Agent may be merged or consolidated, or to which the assets and business of such Paying Agent may be sold, shall be deemed the successor of such Paying Agent for the purposes of this Indenture. If the position of Paying Agent shall become vacant for any reason, Issuer shall, within thirty (30) calendar days thereafter, appoint such bank or trust company as shall be specified by Issuer as such Paying Agent to fill such vacancy; provided, however, that, if Issuer shall fail to appoint such Paying Agent within said period, Trustee shall make such appointment. The Paying Agents shall enjoy the same protective provisions in the performance of their duties hereunder as are specified in Section 10.01 hereof with respect to Trustee insofar as such provisions may be applicable. Any Paying Agent shall hold in trust for the benefit of Holders and the Trustee all sums held by Paying Agent for the payment of the principal or of interest on the Senior Debentures, and shall give to the Trustee notice of any Default upon the Senior Debentures in making such payment.
Designation and Succession of Paying Agents. Trustee and any other banks or trust companies designated as Paying Agent or Paying Agents in any supplemental indenture or in an instrument appointing a successor Trustee shall be the Paying Agent or Paying Agents for the Debentures. Any bank or trust company with which or into which any Paying Agent may be merged or consolidated, or to which the assets and business of such Paying Agent may be sold, shall be deemed the successor of such Paying Agent for the purposes of this Indenture. If the position of Paying Agent shall become vacant for any reason, Issuer shall, within thirty (30) calendar days thereafter, appoint such bank or trust company as shall be specified by Issuer as such Paying Agent to fill such vacancy; provided, however, that, if Issuer shall fail to appoint such Paying Agent within said period, Trustee shall make such appointment. The Paying Agents shall enjoy the same protective provisions in the performance of their duties hereunder as are specified in Section 10.01 hereof with respect to Trustee insofar as such provisions may be applicable.
Designation and Succession of Paying Agents. Any bank or trust company with which or into which any Paying Agent may be merged or consolidated, or to which the assets and business of such Paying Agent may be sold, shall be deemed the successor of such Paying Agent for the purposes of this Indenture. If the position of Paying Agent shall become vacant for any reason, the Issuer shall, within thirty (30) days thereafter, appoint such bank or trust company as shall be specified by the Company as such Paying Agent to fill such vacancy; provided, however, that, if the Issuer shall fail to appoint such Paying Agent within said period, the Trustee shall make such appointment. The Paying Agents shall enjoy the same protective provisions in the performance of their duties hereunder as are specified in Section 11.1 hereof with respect to the Trustee insofar as such provisions may be applicable.
Designation and Succession of Paying Agents. The Trustee is hereby appointed as Paying Agent hereunder. Any bank or trust company with or into which the Paying Agent may be merged or consolidated, or to which the assets and business of such Paying Agent may be sold, shall be deemed the successor of such Paying Agent for the purposes of this Indenture. If the position of Paying Agent shall become vacant for any reason, the Sponsor shall, within 30 days thereafter, appoint a bank or trust company to fill such vacancy; provided, however, that if the Sponsor shall fail to appoint such Paying Agent within said period, the Trustee shall make such appointment. Other Paying Agents or fiscal agents may be appointed pursuant to Article IX hereof by the Sponsor if in its discretion additional Paying Agents or fiscal agents are deemed advisable. Any Paying Agent appointed to serve in such capacity hereunder shall hold all moneys transferred to it in Eligible Accounts. Paying Agents shall enjoy the same protective provisions in performance of their duties hereunder as are specified in Section 9.01 with respect to the Trustee insofar as such provisions may be applicable, and shall be entitled to reasonable compensation and reimbursement of their expenses and costs from the Trust Expense Fund. Notice of the appointment of Paying Agents shall be given in the same manner as provided by Section 9.06 with respect to the appointment of a successor Trustee. Resignation or removal of a Paying Agent pursuant to this Section 9.10 shall not relieve such resigning or removed Paying Agent from liability for its acts prior to the date such removal or resignation is effective. (End of Article IX)
Designation and Succession of Paying Agents. The Trustee and the other banks or trust companies, if any, designated as Paying Agent or Paying Agents in the Bond Legislation pertaining to a particular series of Bonds shall be the Paying Agent or Paying Agents for the applicable series of Bonds, and in the absence of such designation the Trustee shall be the sole Paying Agent. Any bank or trust company with or into which any Paying Agent other than the Trustee may be merged or consolidated, or to which the assets and business of such Paying Agent may be sold, shall be deemed the successor of such Paying Agent for the purposes of this Indenture. If the position of such Paying Agent shall become vacant for any reason, the Issuer shall, within thirty days thereafter, appoint a bank or trust company located in the same city as such Paying Agent to fill such vacancy; provided, however, that if the Issuer shall fail to appoint such Paying Agent within said period, the Trustee shall make such appointment.
