Merger or Consolidation of Trustees. Any corporation or association into which the Trustee or the Delaware Trustee may be merged or converted or with which it may be consolidated or any corporation or association resulting from any merger, conversion or consolidation to which the Trustee or the Delaware Trustee shall be a party, or any corporation or association succeeding to the business of trustee, shall be the successor of such trustee hereunder, provided such corporation or association shall be eligible under the provisions of Section 8.06, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding.
Merger or Consolidation of Trustees. (a) Any entity (i) into which a Trustee may be merged or consolidated, (ii) which may result from any merger, conversion, or consolidation to which a Trustee shall be a party, or (iii) which may succeed to all or substantially all of the corporate trust business of a Trustee, which entity, if requested by the Initial Beneficiary or the holder of the UTI or the applicable SUBI, executes an agreement of assumption to perform every obligation of such Trustee under this Agreement, shall be the successor of such Trustee hereunder, provided such entity shall be eligible pursuant to Section 6.2, without the execution or filing of any instrument or any further act on the part of any of the parties hereto (other than the written consent of the Initial Beneficiary or the holder of the UTI Certificate or the applicable SUBI Certificate).
Merger or Consolidation of Trustees. (a) Any entity (i) into which a Trustee may be merged or consolidated, (ii) which may result from any merger, conversion, or consolidation to which a Trustee shall be a party, or (iii) which may succeed to all or substantially all of the corporate trust business of a Trustee, which entity, if requested by the Settlor, executes an agreement of assumption to perform every obligation of such Trustee under this Agreement, shall be the successor of such Trustee hereunder, provided such entity shall be eligible pursuant to Section 6.2, without the execution or filing of any instrument or any further act on the part of any of the parties hereto.
Merger or Consolidation of Trustees. (a) Any entity (i) into which a Trustee may be merged or consolidated, (ii) which may result from any merger, conversion, or consolidation to which a Trustee shall be a party, or (iii) which may succeed to all or substantially all of the corporate trust business of a Trustee, which entity, if requested by the Initial Beneficiary or the holder, assignee or pledgee of the applicable SUBI, executes an agreement of assumption to perform every obligation of such Trustee under this Agreement, shall be the successor of such Trustee hereunder, provided such entity shall be eligible pursuant to Section 6.2, without the execution or filing of any instrument or any further act on the part of any of the parties hereto (other than the written consent of the Initial Beneficiary or the holder, assignee or pledgee of the applicable SUBI Certificate).
Merger or Consolidation of Trustees. Section 8.10 Appointment of Co Trustee or Separate Trustee. Section 8.11 Appointment of Custodians. Section 8.12 Appointment of Office or Agency. Section 8.13 Representations and Warranties of the Trustee.
Merger or Consolidation of Trustees. 178 Section 8.10 Appointment of Co‑Trustee or Separate Trustee. 178 Section 8.11 Appointment of Custodians. 179 Section 8.12 Appointment of Office or Agency. 180 Section 8.13 Representations and Warranties of the Trustee. 180 Section 8.14 Duties of Delaware Trustee. 181 Section 8.15 Amendment to Certificate of Trust. 181 Section 8.16 Trustees Act on Behalf of Trust. 181
Merger or Consolidation of Trustees. Any Person into which a Trustee may be merged or converted or with which it may be consolidated or any Person resulting from any merger, conversion or consolidation to which a Trustee in its individual capacity shall be a constituent entity, or any Person succeeding to all or substantially all of the corporate trust business of a Trustee in its individual capacity, shall be the successor of such Trustee hereunder, without the execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding provided such Person shall be eligible pursuant to Section 10.1 hereof.
Merger or Consolidation of Trustees. (a Any Person into which a Trustee may be merged or converted or with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to which a Trustee shall be a party, or any Person succeeding to all or substantially all of the corporate trust business of a Trustee shall be the successor of such Trustee hereunder, provided such Person shall be eligible pursuant to Section 5.11, without the execution or filing of any instrument or any further act on the part of any of the parties hereto (other than the written consent of the Requisite GI Holder and the Majority PI Holders). Such Person, if requested in writing by the Initial Beneficiary, shall execute an agreement of assumption to perform every obligation of such Trustee under this Agreement.
Merger or Consolidation of Trustees. 16 Section 6.6. Appointment of Co-Trustee, Separate Trustee, or Nominee 17 Section 6.7. Representations and Warranties of Trustees 18 Section 6.8. Trustee’s Fees and Expenses 19 TABLE OF CONTENTS (continued) Page Section 6.9. No Petition 19 Section 6.10. Place of Business 19 PART VII ACCOUNTS 20 Section 7.1. Accounts; Expenses 20 Section 7.2. Rebalancing After Third-Party Claim 21 PART VIII DISSOLUTION 21 Section 8.1. Dissolution of the Trust 21 PART IX MISCELLANEOUS PROVISIONS 22 Section 9.1. Amendment 22 Section 9.2. Governing Law 22 Section 9.3. Notices 22 Section 9.4. Severability of Provisions 23 Section 9.5. Construction 23 Section 9.6. Separate Entity 23 EXHIBITS EXHIBIT A Definitions EXHIBIT B Form of Undivided Trust Certificate EXHIBIT C Form of Certificate of Trust TRUST AGREEMENT TRUST AGREEMENT, dated as of June 2, 1999 (as it may be modified, supplemented or amended from time to time in accordance with its terms, this “Agreement”), between VW Credit, Inc., a Delaware corporation (“VCI”), as settlor and initial beneficiary (the “Settlor” and the “Initial Beneficiary,” respectively), U.S. Bank Trust National Association, a national banking association, as UTI Trustee (the “UTI Trustee”) and Administrative Trustee (the “Administrative Trustee”) and Wilmington Trust Company, a Delaware banking association, as Delaware Trustee (the “Delaware Trustee”). Certain capitalized terms used herein are defined in Exhibit A.
Merger or Consolidation of Trustees. Any corporation into which the Regular Trustee or Delaware Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Regular Trustee or Delaware Trustee shall be a party, or any corporation succeeding to the business of the Regular Trustee or Delaware Trustee shall be the successor of the Regular Trustee or Delaware Trustee hereunder without the execution or filing of any paper with any party hereto or any fiather act on the part of any of the parties hereto except where an instrument of transfer or assignment is required by law to effect such succession, anything herein to the contrary notwithstanding.
