Common use of Effect of Appointment of Successor Indenture Trustee Clause in Contracts

Effect of Appointment of Successor Indenture Trustee. Upon written appointment and acceptance as Indenture Trustee, each successor Indenture Trustee shall forthwith, without further act or deed, succeed to all the estate, property, rights and duties of its predecessor in trust under this Indenture. Such predecessor shall promptly deliver to such successor Indenture Trustee all property and sums held hereunder, together with all records and other documents necessary or appropriate in connection with the performance of the duties of the successor Indenture Trustee hereunder. Upon the written request of the successor Indenture Trustee, the Issuer and upon payment of all amounts due to such predecessor under this Indenture, such predecessor shall transfer, deliver, assign and confirm to the successor Indenture Trustee, without recourse, all its estate, property and rights hereunder by executing and delivering from time to time to the successor Indenture Trustee such further instruments and by taking such other action as may reasonably be deemed by such successor Indenture Trustee or the Issuer to be necessary or appropriate in connection therewith.

Effect of Appointment of Successor Indenture Trustee. Upon written appointment and acceptance as Indenture Trustee, each successor Indenture Trustee shall forthwith, without further act or deed, succeed to all the estate, property, rights and duties of its predecessor in trust under this IndentureIndenture and the Authorization Agreement. Such predecessor shall promptly deliver to such successor Indenture Trustee all property and sums held hereunder, together with all records and other documents necessary or appropriate in connection with the performance of the duties of the successor Indenture Trustee hereunderunder this Indenture. Upon the written request of the successor Indenture Trustee, Trustee or the Issuer Shipowner and upon payment of all amounts due to such predecessor under this Indenture, such predecessor shall transfer, deliver, assign and confirm to the successor Indenture Trustee, without recourse, Trustee all its estate, property and rights hereunder under this Indenture by executing and delivering from time to time to the successor Indenture Trustee such further instruments and by taking such other action as may reasonably be deemed by such successor Indenture Trustee or the Issuer Shipowner to be necessary or appropriate in connection therewith.

Effect of Appointment of Successor Indenture Trustee. Upon written appointment and acceptance as Indenture Trustee, each successor Indenture Trustee shall forthwith, without further act or deed, succeed to all the estate, property, rights and duties of its predecessor in trust under this IndentureIndenture and the Authorization Agreement. Such predecessor shall promptly deliver to such successor Indenture Trustee all property and sums held hereunder, together with all records and other documents necessary or appropriate in connection with the performance of the duties of the successor Indenture Trustee hereunderunder this Indenture. Upon the written request of the successor Indenture Trustee, Trustee or the Issuer Shipowner and upon payment of all amounts due to such predecessor under this Indenture, such predecessor shall transfer, deliver, assign and confirm to the successor Indenture Trustee, without recourse, Trustee all its estate, property and rights hereunder under this Indenture by executing and delivering from time to time to the successor Indenture Trustee such further instruments and by taking such other action as may reasonably be deemed by such successor Indenture Trustee or the Issuer Shipowner to be necessary or appropriate in connection therewiththerewith and the predecessor Indenture Trustee shall have no liability for any actions taken by the successor Indenture Trustee.