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

Effect of Appointment of Successor Trustee. Upon the appointment and designation of any successor, substitute or replacement trustee, and subject to compliance with applicable requirements of law, Trustee’s entire estate, right, title and interest in the Mortgaged Property shall vest in the designated successor, substitute or replacement trustee. Such successor, substitute or replacement trustee shall thereupon succeed to and shall hold, possess and execute all the rights, powers, privileges, immunities and duties herein conferred upon Trustee. All references herein to a trustee shall be deemed to refer to Trustee (including any successor or substitute appointed and designated as herein provided) from time to time acting hereunder.

Effect of Appointment of Successor Trustee. Upon the appointment and designation of any successor, substitute or replacement trusteeTrustee, and subject to compliance with applicable requirements of lawGaming Control Laws and other applicable laws, Trustee’s 's entire estate, right, estate and title and interest in the Mortgaged Property Trust Estate shall vest in the designated successor, substitute or replacement trusteeTrustee. Such successor, substitute or replacement trustee Trustee shall thereupon succeed to and shall hold, possess and execute all the rights, powers, privileges, immunities and duties herein conferred upon Trustee. All references herein to a trustee Trustee shall be deemed to refer to Trustee (including any successor or substitute appointed and designated as herein provided) from time to time acting hereunder.

Effect of Appointment of Successor Trustee. Upon the appointment and designation of any successor, substitute or replacement trusteeTrustee, and subject to compliance with applicable requirements of lawlaws, Trustee’s 's entire estate, right, estate and title and interest in the Mortgaged Property Trust Estate shall vest in the designated successor, substitute or replacement trusteeTrustee. Such successor, substitute or replacement trustee Trustee shall thereupon succeed to and shall hold, possess and execute all the rights, powers, privileges, immunities and duties herein conferred upon Trustee. All references herein to a trustee Trustee shall be deemed to refer to Trustee (including any successor or substitute appointed and designated as herein provided) from time to time acting hereunder.