Effectiveness of Resignation or Removal. No resignation or removal of the Custodian shall be effective until a successor Custodian shall have been appointed and shall have accepted the duties of the Custodian. If, within 30 days after notice by the Custodian to the Trust or by the Trust to the Custodian of any such resignation or removal, no successor Custodian shall have been selected and accepted the duties of the Custodian, the Custodian may apply to a court of competent jurisdiction for the appointment of a successor Custodian.
Appears in 9 contracts
Samples: Custodian Agreement (2017 Mandatory Exchangeable Trust), Custodian Agreement (Mandatory Exchangeable Trust), Custodian Agreement
