Effectiveness of Resignation or Removal. No resignation or removal of the Administrator shall be effective until a successor Administrator shall have been appointed and shall have accepted the duties of the Administrator. If, within 30 days after notice by the Administrator to the Trust or by the Trust to the Administrator of any such resignation or removal, no successor Administrator shall have been selected and accepted the duties of the Administrator, the Administrator may apply to a court of competent jurisdiction for the appointment of a successor Administrator.
Appears in 8 contracts
Samples: Administration Agreement (2017 Mandatory Exchangeable Trust), Administration Agreement (Mandatory Exchangeable Trust), Administration Agreement (2010 Swift Mandatory Common Exchange Security Trust)
